110 / 158
Assumptions as at 31 December 2015
Increase of 0.25%
Decrease of 0.25%
Effect on defined benefit obligation
Change in discount rate
- 35,851
38,939
Change in expected future salary increases
5,084
- 4,990
Change in pension increase for active participants
6,515
- 5,881
Change in pension increase for inactive participants
28,168
- 23,997
Effect on pension expenses attributed to the service year
Change in discount rate
- 2,825
2,865
Change in expected future salary increases
378
- 598
Change in pension increase for active participants
599
- 660
Change in pension increase for inactive participants
444
- 194
Historical information:
2016
2015
2014
2013
2012
Defined benefit obligation
- 160,380
- 753,035
- 747,808
- 554,486
- 789,692
Fair value of plan assets
153,196
734,794
691,932
585,038
700,381
Surplus / deficit (-)
- 7,184
- 18,241
- 55,876
30,552
- 89,311
Unfunded pension liabilities
- 5,142
- 5,175
- 5,316
- 4,673
- 4,616
Total surplus / deficit (-)
- 12,326
- 23,416
- 61,192
25,879
- 93,927
The reduction of defined benefit obligations and the fair value of plan assets mainly relates to the settlement
of two defined benefit plans in 2016 and changes in the discount rate.
DEFINED CONTRIBUTION PENSION PLANS
25.2
In 2017 the Group expects to contribute an amount of EUR 42.0 million (2016: EUR 20.0 million) to
premiums for defined contributions plans. This concerns contributions to pension plans arranged with multi-
employer pension funds, which are accounted for as defined contribution pension plans in these financial
statements, in accordance with IFRS.
26. PROVISIONS
ONEROUS
CONTRACTS
WARRANTIES RESTRUCTURING
OTHER
TOTAL 2016
TOTAL 2015
Balance as at 1 January
11,450
6,789
6,000
6,569
30,808
32,367
Assumed in business combinations
150
5,135
-
268
5,553
-
Provisions made during the year
-
6,424
11,562
6,875
24,861
16,988
Provisions used during the year
- 2,241
- 2,069
- 414
- 200
- 4,924
- 3,022
Provisions reversed during the year
- 1,597
- 2,200
-
-
- 3,797
- 16,150
Reclass to disposal group
-
-
-
- 900
- 900
-
Exchange rate differences and other movements
56
1,434
176
195
1,861
625
Balance as at 31 December
7,818
15,513
17,324
12,807
53,462
30,808
Non-current
5,936
12,760
-
12,739
31,435
23,775
Current
1,882
2,753
17,324
68
22,027
7,033
Balance as at 31 December
7,818
15,513
17,324
12,807
53,462
30,808
The provisions for onerous contracts mainly relate to the lease of a vessel. Other provisions mainly relate to
various claims made against the Group or threatening to be made including potential sanctions, from legal,
regulatory and governmental proceedings. The Group disputes these claims and proceedings and has
made an assessment of the amount of cash outflows that can be reasonable estimated. As litigation is
inherently unpredictable, the possible outcome is uncertain and the amount may differ from the provisions
listed above.
110
ANNUAL REPORT 2016 – BOSKALIS
FINANCIAL STATEMENTS 2016