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E
Financial
E.4
Consolidated financial statements
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property. The fixed income allocation is predominantly in credit
79% fixed income, 12% equities and other assets and 9%
zone government bonds. The return seeking portfolio comprises
investment grade (c. 82%) and the remaining part in core euro
related to the other scheme is more in line with the lower
diversified equity and high yield bonds. The asset allocation
invested in investment grade credits and, to a lesser extent, in
interest rate sensitivities of the schemes and are predominantly
The asset allocation related to the largest German schemes is
Investment Committee composed of employer representatives.
balanced funds and European high yield.
post-employment healthcare benefits are not significant.
benefit plans. The Group obligations with respect to
by legal or collectively bargained end of service or end of career
The Group obligations are also generated, but to a lesser extent,
effects generated in the period in "Other comprehensive
Atos recognized all actuarial gains and losses asset and ceiling
income".
Events in 2016
and the Eurozone leading to an increase in the measurement of
Over 2016 interest rates decreased in both the United Kingdom
assets especially on fixed income portfolio.
pension liability values and positive investment returns on plan
Germany and the United States) of € 136.3 million, covered by
The acquisition of Unify led to an increase in liabilities (mainly in
between Worldline and Equens, and the acquisition of Arvato led
€ 93.4 million of plan assets. Further to this, the joint venture
23.0 million of plan assets.
to a combined increase of liability of € 65.0 million covered by
In Germany, Atos has extended to Unify plans the additional
adopted the same indexing policy. This led to a reduction of
lump sum options offered to Atos employees in 2015 and
operating expenses of € 6.5 million.
inflation indexation from the Retail Price Index (RPI) to the
Scheme have reached an agreement to move the basis for
security to the plan including a Group parental guarantee of up
Consumer Price Index (CPI) in exchange for improved long term
to GBP 385 million and a one off discretionary benefit
In the UK, the company and trustees of the Atos (Sema) Pension
reduction in liabilities and operating expenses of GBP
enhancement for affected beneficiaries. This led to an overall
35.9 million including actuarial, legal and other project costs.
Curtailment in pension liabilities related to restructuring and
total amount of € 10.3 million and mainly concerns Switzerland.
other events have been recorded in other operating income for a