2013 Registration document and annual financial report - page 267

Registration Document 2013
265
Financial Statemements
5
Consolidated Financial Statements And Notes
Sensitivity analysis
At December 31, 2013, the sensitivity of provisions for pensions
and other post-employment benefits to a change in discount rate
is as follows: a 0.5-point increase in the discount rate would lead
to a €9.8 million reduction in the projected benefit obligation, a
0.5-point decrease in the discount rate would lead to a €10.7 million
increase in the projected benefit obligation.The impact on the cost
for the year would not be material.
At December 31, 2012, the sensitivity of provisions for pensions
and other post-employment benefits to a change in discount rate is
as follows: a 0.5-point increase in the discount rate would lead to a
€10 million reduction in the projected benefit obligation, a 0.5-point
decrease in the discount rate would lead to a €11.2 million increase
in the projected benefit obligation. The impact on the cost for the
year would not be material.
Expected cash flows
The following table shows expected cash outflows for the coming years, without taking account any cash inflows generated by plan assets:
Expected cash flows
(in millions of euros)
France Netherlands Germany Belgium Poland Switzerland Italy
Worldwide
Structures
Total
Expected benefits payment
in 2014
1
1
1
0
2
2
0
2
9
Expected benefits payment
in 2015
1
2
1
0
1
1
0
2
8
Expected benefits payment
in 2016
1
1
1
-
2
1
0
2
8
Expected benefits payment
from 2017 to 2023
10
13
4
5
14
5
2
16
69
Expected contributions in 2014
-
0
1
1
-
1
-
-
3
NOTE 34
RECONCILIATION OF FUNDS FROM OPERATIONS
(in millions of euros)
Dec. 2012
Dec. 2013
Net Profit, Group share
80
125
Minority interests
15
13
Depreciation, amortization and provision expense
327
333
Share of profit of associates, net of dividends received
(17)
5
Deferred tax
13
(16)
Change in financial provisions and provisions for losses on asset disposals
20
81
Impairment losses
119
89
Funds from operations from discontinued operations
(576)
2
FUNDS FROM OPERATIONS INCLUDING NON-RECURRINGTRANSACTIONS
(18)
632
(Gains) losses on disposals of assets, net
(0)
(78)
(Gains) losses on non-recurring transactions (included restructuring costs and exceptional taxes)
136
161
Non-recurring items from discontinued activities
668
2
FUNDS FROM OPERATIONS EXCLUDING NON-RECURRINGTRANSACTIONS
786
717
1...,257,258,259,260,261,262,263,264,265,266 268,269,270,271,272,273,274,275,276,277,...344
Powered by FlippingBook