AFD_REGISTRATION_DOCUMENT_2017

7

AFD’S ANNUAL FINANCIAL STATEMENTS Accounting principles and assessment methods

carried by AFD are remeasured and compared with the value of the insurance policies. As of 31bDecember 2017, the amount of the provision was increased by €2,123K. Other long-term benefits AFD gives its employees bonuses as long-service benefits. An additional provision was recognised on 31bDecember 2017bin the amount of €27K.

P retirement age: 63bfor non-executive level employees and 65bfor executive level employees; P actuarial tables: TGH 05 (men)/TGFb05 (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

The aggregate impacts on the 2016band 2017breporting 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 01/01/2016

In thousands of euros

Provisions for employee benefits P Defined benefit plans P Other long-term benefits

88,171 87,207

2,150 2,123

86,021 85,084

4,472 4,400

81,549 80,685

964

27

936

72

864

The changes in commitments over 2017bare shown in the table below:

Total defined benefit plans

Retiree health insurance

Retirement lump sum

Service award

Grand total

Retirement

In thousands of euros

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

b

b

b

b

57,314

84,279 1,541 3,766 -2,231 -1,921 -4,701 80,733 0

15,453 157,046

936 157,982

Financial cost

288 228

272

2,100 5,154 -2,231

17

2,117 5,264 -2,231

Cost of services rendered over the year

1,159

110

Cost of past services Reductions/Liquidations

0 0

0 0

0 0

0

0

Services paid

-10,738 -3,109 43,983

-851 -13,510

-43 -13,553

Actuarial gains (losses)

-543

-8,353

-58

-8,410

PRESENT VALUE OF THE COMMITMENT AT 31/12/2017 Change in the fair value of retirement plan assets:

15,490 140,206

964 141,170

b

b

b

b

Fair value of assets at 1bJanuary

61,280

b b b b b b

b b b b b b

61,280

b b b b b b

61,280

Expected return on assets

306

b b b b

Services paid

-10,738 -1,244

Actuarial gains (losses)

b b

Liquidations

0

FAIR VALUE OF ASSETS AT 31/12/2017

49,605

49,605

49,605

Corridor limits:

b

b

b

b

b

b

Actuarial gains (losses) not recognised at 1bJanuary

1,228 6,128 1,865

-10,864

-1,046 -10,681

0 -10,681

Corridor limits at 1bJanuary

8,428 4,701

1,545

b

b

b

Actuarial gains (losses) generated over the year Actuarial gains (losses) recognised in profit or loss Actuarial gains (losses) recognised in equity

543

7,109

58

7,167

0 0

179

0 0

179

-58

121

0

0

b

0

ACTUARIAL GAINS (LOSSES) NOT RECOGNISED AT 31/12/2017 Amounts recognised on the balance sheet at 31/12/2017:

3,093

-5,984

-503 -3,394

0 -3,394

b

b

b

b

b

b

Present value of the funded commitment

43,983 -49,605

b b

b b

b

b b

b

Fair value of financed assets

-5,622 96,223 90,601 -3,394

-5,622 97,187 91,565 -3,394

Present value of unfunded commitment

b

80,733 80,733 -5,984 74,749

15,490 15,490

964 964

Net position

-5,622 3,093 -2,529

Unrecognised actuarial gains (losses)

-503

b

Balance sheet provision

14,988 87,207

964 88,171

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REGISTRATION DOCUMENT 2017

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