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E
Financial
E.4
Consolidated financial statements
Atos
|
Registration Document 2016
183
E
Cash and cash equivalents
Note
18
(In € million)
December
31, 2016
December
31, 2015
Cash in hand and short-term bank deposit
1,739.5
848.4
Money market funds
382.2
1,098.4
TOTAL
2,121.7
1,946.8
Depending on market conditions and short-term cash flow expectations, Atos from time to time invests in money market funds or bank
deposits with a maturity period not exceeding three months.
Equity attributable to the owners of the parent
Note
19
Capital increase
In 2016, Atos SE increased its share capital by incorporating
related to the issuance of 1,389,437 new common stocks split as
additional paid-in-capital and common stock for € 88.5 million
follows:
892,830 new shares resulting from the payments of the 2015
•
dividend in shares;
exercise of 496,607 stock options in 2016.
•
amounted to € 104.9 million, divided into 104,908,679 fully
As at December 31, 2016, Atos SE issued share capital
paid-up common stock of € 1.00 par value each.
Pension plans and other long termbenefits
Note
20
2016 compared to € 955.1 million at December 31, 2015. The
respect of pension plans was € 1,263.3 million at December 31,
benefits was € 51.2 million compared to € 38.0 million at
total amount recognized for other longer term employee
December 31, 2015.
The total amount recognized in the Group balance sheet in
(In € million)
December
31, 2016
December
31, 2015
Amounts recognized in financial statements consist of :
Prepaid pension asset
96.2
128.5
Accrued liability – pension plans
-1,359.5
-1,083.6
Total Pension plan
-1,263.3
-955.1
Accrued liability – other long term benefits
-51.2
-38.0
Total accrued liability
-1,410.7
-1,121.6
Pension plans
United Kingdom (59% of Group total obligations), Germany
The Group’s pension obligations are located predominantly in the
(22%), France (6%) and Switzerland (5%)
Characteristics of significant plans and associated risks
based on a discount rate reflecting the plan’s expected return on
trustees and the sponsoring companies and may run up to
investments. Recovery periods are agreed between the plans’
majority of plans are governed by an independent Board of
20 years if appropriate securities are provided by sponsors. The
trustees which include employer representatives.
funding requirements are determined by an independent actuary
legacy defined benefit plans, the majority of which have been
In the
United Kingdom
, these obligations are generated by
plans and are subject to the UK regulatory framework where
closed to further accrual or new entrants. The plans are final pay
The current asset allocation across United Kingdom plans is 74%
depending on the particular profile of each plan. The interest
fixed income, 26% equities and other assets and may vary
rate and inflation exposures are cautiously managed through
fixed income allocation comprises a significant exposure to
investment in Gilts, Indexed-Linked and interest rate swaps. The
diversified geographically.
investment grade credits and the equity allocation is well
unusual for these types of benefit plans. Typical risks include,
The plans do not expose the Group to any specific risks that are
and adverse investment returns.
increase in inflation, longevity and a decrease in discount rates
entitlements that transferred to the Group with the acquisition of
In
Germany
the majority of the liabilities relate to pension
pension plan in 2004. The plans are closed for new entrants, but
related to a harmonization introducing a contribution based
cover multiple legal entities in Germany and are subject to the
do still accrue benefits for past service up to 2004. The plans
requirements, but does include compulsory insolvency insurance
German regulatory framework, which has no funding
Agreement (CTA). The CTA is governed by a professional
(PSV). The plans are funded however, using a Contractual Trust
SIS in 2011. They mainly consist of grandfathering benefits
independent third party. The investment strategy is set by the