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FINANCIAL STATEMENTS
6
CONSOLIDATED FINANCIAL STATEMENTS
NOTE 21
EMPLOYEE BENEFIT OBLIGATIONS
Employee benefit obligations consist mainly of statutory retirement bonuses payable in accordance with the Syntec collective bargaining agreement
applicable in France. These bonuses correspond to vested entitlements determined based on length of service.
Net liability recognised in the statement of financial position
In millions of euros
31/12/2015
31/12/2014
Present value of funded or partially-funded post-employment benefit obligations
24.9
25.8
Fair value of plan assets
(1.4)
(1.5)
PROVISION RECOGNISED IN THE STATEMENT OF FINANCIAL POSITION
23.5
24.3
Impact on the income statement
In millions of euros
2015
2014
Current service cost
(2.2)
(2.0)
Interest expense
(0.4)
(0.3)
Amount recognised in the income statement
(2.6)
(2.3)
Amount recognised in “Depreciation, amortisation and provisions for recurring operating items, net”
(2.2)
(2.0)
Amount recognised in “Other financial income and expenses”
(0.4)
(0.3)
AMOUNT RECOGNISED IN THE INCOME STATEMENT
(2.6)
(2.3)
Change in the net liability recognised in the statement of financial position
In millions of euros
2015
2014
Net liability at beginning of year
24.3
17.2
Current service cost
2.2
2.0
Interest expense
0.4
0.3
Remeasurement of the defined benefit liability recognised in equity
(3.6)
5.8
Currency translation differences
0.2
–
Effect of changes in scope of consolidation
1.5
–
Benefits paid
(1.6)
(1.1)
Benefits paid directly by the fund
0.1
0.1
NET LIABILITY AT YEAR-END
23.5
24.3
The actuarial gains and losses recognised directly in other comprehensive income relate to the change in the discount rate applied (2.5% for France
and Germany in 2015
versus
1.3% in 2014). The composite rate applied for 2015 was determined based on the Bloomberg and Iboxx rates.
ASSYSTEM
FINANCIAL REPORT
2015
109