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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
(in millions of euros)
Note
Employee defined benefit plans
Year ended December 31, 2013
Benefit obligation
Fair value of plan
assets
Net (provision)/
asset recorded in
the statement of
financial position
(A)
(B)
(B)-(A)
Opening balance
1,020
367
(653)
Current service cost
21
(21)
Past service cost
(e)
(18)
18
(Gains)/losses on settlements
(29)
(22)
7
Other
1
(1)
Impact on selling, administrative and general expenses
3
Interest cost
35
(35)
Expected return on plan assets
13
13
Impact on other financial charges and income
(22)
Net benefit cost recognized in profit and loss
(19)
Experience gains/(losses)
(a)
12
(1)
(13)
Actuarial gains/(losses) related to changes in demographic assumptions
2
(2)
Actuarial gains/(losses) related to changes in financial assumptions
5
(5)
Adjustment related to asset ceiling
-
Actuarial gains/(losses) recognized in other comprehensive income
(20)
Contributions by plan participants
1
1
-
Contributions by employers
46
46
Benefits paid by the fund
(9)
(9)
-
Benefits paid by the employer
(36)
(36)
-
Business combinations
(f)
12
9
(3)
Divestitures of businesses
-
-
-
Transfers
-
-
-
Other (of which foreign currency translation adjustments)
(20)
(12)
8
Reclassification to assets held for sale
(g)
(31)
-
31
Closing balance
966
356
(610)
of which wholly or partly funded benefits
487
wholly unfunded benefits
(c)
479
of which assets related to employee benefit plans
9
provisions for employee benefit plans
(d)
18
(619)
(a)
Includes the impact on the benefit obligation resulting from the difference between actuarial assumptions at the previous year-end and effective
benefits during the year, and the difference between the expected return on plan assets at the previous year-end and the actual return on plan assets
during the year.
(b)
Relates to the impact of the sale of SFR on November 27, 2014.
(c)
In accordance with local laws and practices, certain plans are not covered by plan assets. As of December 31, 2014 and December 31, 2013, such
plans principally comprise supplementary pension plans in the United States, pension plans in Germany and post-retirement benefit plans in the
United States.
(d)
Includes a current liability of €48 million as of December 31, 2014 (compared to €55 million as of December 31, 2013).
(e)
In 2013, past service costs mainly related to the effect of decreases related to restructuring at SFR, as well as the renewal of some members of the
group’s management team since the end of June 2012.
(f)
Relates to the adjustment in 2013 to account for the impact of the acquisition on September 28, 2012 of EMI Recorded Music on the value of the
obligations, plan assets, and underfunded obligation.
(g)
Relates to the impact of the reclassification of Maroc Telecom group as a discontinued operation, in accordance with IFRS 5.
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