Page 277 - 2012 Annual Report

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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
BENEFIT OBLIGATION, FAIR VALUE OF PLAN ASSETS, AND FUNDED STATUS DETAILED BY COUNTRY
(in millions of euros)
Pension benefits Post-retirement benefits Total
December 31, December 31, December 31,
2012 2011 2012 2011 2012 2011
Benefit obligation
US companies 118 121 144 139 262 260
UK companies 225 205 - - 225 205
German companies 183 108 - - 183 108
French companies 216 171 - - 216 171
Other 115 63 19 19 134 82
857 668 163 158 1,020 826
Fair value of plan assets
US companies 53 56 - - 53 56
UK companies 188 154 - - 188 154
German companies 3 - - - 3 -
French companies 67 51 - - 67 51
Other 56 11 - - 56 11
367 272 - - 367 272
Underfunded obligation
US companies (65) (65) (144) (139) (209) (204)
UK companies (37) (51) - - (37) (51)
German companies (180) (108) - - (180) (108)
French companies (149) (120) - - (149) (120)
Other (59) (52) (19) (19) (78) (71)
(490) (396) (163) (158) (653) (554)
In 2011, Vivendi took into account the impact of the change in the legislation in relation to the indexation of retirement plans in the United Kingdom, which
resulted in a non-significant decrease of its commitments.
20.2.4. Additional information on pension benefits in France
Vivendi maintains ten pension plans in France, of which four make investments through insurance companies. The allocation of assets by category of the
various plans was as follows:
Equity
securities Real estate
Debt
securities Cash Total
Corporate Supplementary Plan 12.1% 6.4% 77.5% 4.0% 100%
Corporate Management Supplementary Plan 15.0% 5.9% 75.4% 3.7% 100%
SFR Supplementary Plan 12.0% 6.0% 81.0% 1.0% 100%
Canal+ Group IDR* Plan 9.9% 8.1% 82.0% - 100%
IDR (Indemnités de départ en retraite)*: indemnities payable on retirement.
The asset allocation remains fairly stable over time. Contributions to the four plans amounted to €17 million in 2012 (compared to €4 million in 2011), and
are estimated to be €7 million in 2013.
Payments to all ten pension plans in France amounted to €17 million in 2012 (compared to €5 million in 2011), and are estimated to be €8 million in 2013.