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Financial Report | Statutory Auditors’ Report on the Consolidated Financial Statements |
Consolidated
Financial Statements
| Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
Note 19. Employee benefits
19.2.3.
Analysis of net benefit obligations with respect to pensions and post-retirement benefits
■
■
Changes in value of benefit obligations, fair value of plan assets, and funded status
(in millions of euros)
Note
Employee defined benefit plans
Year ended December 31, 2014
Benefit
obligation
Fair value
of plan assets
Net (provision)/
asset recorded in
the statement of
financial position
(A)
(B)
(B)-(A)
Opening balance
966
356
(610)
Current service cost
20
(20)
Past service cost
(26)
26
(Gains)/losses on settlements
-
(1)
(1)
Other
-
-
Impact on selling, administrative and general expenses
5
Interest cost
33
(33)
Expected return on plan assets
12
12
Impact on other financial charges and income
(21)
Net benefit cost recognized in profit and loss
(16)
Experience gains/(losses)
(a)
-
24
24
Actuarial gains/(losses) related to changes in demographic assumptions
(7)
7
Actuarial gains/(losses) related to changes in financial assumptions
122
(122)
Adjustment related to asset ceiling
-
Actuarial gains/(losses) recognized in other comprehensive income
(91)
Contributions by plan participants
1
1
-
Contributions by employers
43
43
Benefits paid by the fund
(18)
(18)
-
Benefits paid by the employer
(36)
(36)
-
Business combinations
1
-
(1)
Divestitures of businesses
(b)
(102)
-
102
Transfers
-
-
-
Other (of which foreign currency translation adjustments)
51
23
(28)
Reclassification to assets held for sale
-
-
-
Closing balance
1,005
404
(601)
of which wholly or partly funded benefits
558
wholly unfunded benefits
(c)
447
of which assets related to employee benefit plans
7
provisions for employee benefit plans
(d)
18
(608)
256
Annual Report 2014