2014 Registration Document and Annual Financial Report - page 247

5
Financial Statemements
Consolidated Financial Statements and Notes
C. Funded status of post-employment defined benefit plans and long-term employee benefits
The method used by the Group is the “Projected Unit Credit” method.
At December 31, 2014
(inmillions of euros)
Pensions
Other post-
employment
benefits*
Total
Present value of funded obligation
171
-
171
Fair value of plan assets
(114)
-
(114)
EXCESS OF BENEFIT OBLIGATION/(PLAN ASSETS)
57
-
57
Present value of unfunded obligation
-
66
66
LIABILITY RECOGNIZED INTHE BALANCE SHEET
57
66
123
* Including length-of-service awards and loyalty bonus.
At December 31, 2013
(inmillions of euros)
Pensions
Other post-
employment
benefits*
Total
Present value of funded obligation
143
-
143
Fair value of plan assets
(102)
-
(102)
EXCESS OF BENEFIT OBLIGATION/(PLAN ASSETS)
41
-
41
Present value of unfunded obligation
-
63
63
LIABILITY RECOGNIZED INTHE BALANCE SHEET
41
63
104
* Including length-of-service awards and loyalty bonus.
Registration Document 2014
245
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