AFD - 2018 Registration document

AFD’S ANNUAL FINANCIALS STATEMENTS Accounting principles and assessment methods

remeasured and compared with the value of the insurance policies. As of 31 December 2018, the amount of the provision was increased by €16,981K. Other long-term benefits AFD gives its employees bonuses as long-service benefits. An additional provision was recognised on 31 December 2018 in the amount of €139K.

P retirement age: 63 for non-executive level employees and 65 for executive level employees; P actuarial tables: TGH 05 (men)/TGF 05 (women). These commitments (retirement bonuses and financing of health insurance plans and pensions) undergo actuarial valuations that factor in demographic and financial assumptions. The amount of provisions for commitments is determined using the Projected Unit Credit Method. At each closing, the retirement commitments carried by AFD are

The aggregate impacts on the 2017 and 2018 reporting years are set out in the table below:

Change in the impact on income

Change in the impact on income

At 31/12/2017

At 31/12/2016

At 31/12/2018

In thousands of euros

Provisions for employee benefits

105,291 104,189

17,120 16,981

88,171 87,207

2,150 2,123

86,021 85,084

P Defined benefit plans P Other long-term benefits

1,102

139

964

27

936

The changes in commitments over 2018 are shown in the table below:

Expatriate employees healthcare expenses Retirement

Total defined benefit plans

Retiree health insurance

Retirement lump sum

Service award

Total Overall

In thousands of euros

Change in the present value of the commitment: Present value of the commitment at 1 January

0 43,983 80,733 15,490 140,206

964 141,170 24 2,303 142 5,474

Financial cost

0 0

223 203

1,730 3,862

326 2,279 1,266 5,332

Cost of services rendered over the year

Cost of past services Reductions/Liquidations

9,036

0 0

0 0

0 9,036

0 9,036

0

0

0

0

0

Services paid

0 -6,425

-1,838 -1,113 -9,377

-80 -9,457

Actuarial gains (losses)

0 0

-1,693

1,967 2,180

446 682

721

-165 218

556

Other (commitment transfers)

667

3,529

3,747

Present value of the commitment at 31/12/2018 Change in the fair value of retirement plan assets Fair value of assets at 1 January

9,036

36,959

88,634

17,098 151,727

1,102 152,829

49,605

49,605

49,605

Expected return on assets

248

Services paid

-6,425 2,741

7

Actuarial gains (losses)

Liquidations

0

Fair value of assets at 31/12/2018

46,169

46,169

46,169

Corridor limits Actuarial gains (losses) not recognised at 1 January

3,093 4,960 4,434

-5,984 8,073 -1,967

-503

-3,097

0

-3,097

Corridor limits at 1 January

0 0 0

1,549

Actuarial gains (losses) generated over the year Actuarial gains (losses) recognised in profit or loss Actuarial gains (losses) recognised in equity Actuarial gains (losses) not recognised at 31/12/2018

-446

2,020

165 -165

2,185

-5

8 0

2 0

5 0

-160

0

0

0

7,522

-7,943

-947 -1,369

0 -1,369

189

REGISTRATION DOCUMENT 2018