Page 274 - 2012 Annual Report

274 VIVENDI l 2012 l Annual Report
FINANCIAL REPORT – CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE
CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE FINANCIAL STATEMENTS –
STATUTORY FINANCIAL STATEMENTS 4
4
III - CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note 20 Employee benefits
20.2.2. Analysis of the expense recorded and of the amount of benefits paid
(in millions of euros)
Pension benefits Post-retirement benefits Total
2012 2011 2012 2011 2012 2011
Current service cost 19 16 - - 19 16
Amortization of actuarial (gains)/losses 8 7 - - 8 7
Amortization of past service cost 1 (7) - - 1 (7)
Effect of curtailments/settlements (12) - - - (12) -
Adjustment related to asset ceiling - - - - - -
Impact on selling, administrative and general expenses 16 16 - - 16 16
Interest cost 31 28 7 7 38 35
Expected return on plan assets (12) (9) - - (12) (9)
Impact on other financial charges and income 19 19 7 7 26 26
Net benefit cost 35 35 7 7 42 42
In 2012, benefits paid amounted to (i) €29 million (compared to €27 million in 2011) with respect to pensions, of which €7 million (compared to €5 million
in 2011) was paid by pension funds, and (ii) €12 million (unchanged compared to 2011) was paid with respect to post-retirement benefits.
20.2.3. Analysis of net benefit obligations with respect to pensions and post-retirement benefits
BENEFIT OBLIGATION, FAIR VALUE OF PLAN ASSETS AND FUNDED STATUS OVER A FIVE-YEAR PERIOD
(in millions of euros)
Pension benefits Post-retirement benefits
December 31, December 31,
2012 2011 2010 2009 2008 2012 2011 2010 2009 2008
Benefit obligation 857 668 625 539 482 163 158 159 142 135
Fair value of plan assets 367 272 240 203 189 - - - - -
Underfunded obligation (490) (396) (385) (336) (293) (163) (158) (159) (142) (135)