2014 Registration Document and Annual Financial Report - page 252

Financial Statemements
Consolidated Financial Statements and Notes
5
Reconciliation of provisions for pensions between January 1, 2013 and December 31, 2014
(inmillions of euros)
Amount
PROVISIONAT JANUARY 1, 2013 ADJUSTED
115
Expense for the period
(4)
Benefits paid
(6)
Actuarial gains and losses recognized in equity
(1)
Changes in exchange rates
(0)
Other
0
PROVISIONAT DECEMBER 31, 2013 ADJUSTED
104
Expense for the period
9
Benefits paid
(6)
Actuarial gains and losses recognized in equity
17
Changes in scope of consolidation
(0)
Changes in exchange rates
(0)
Other
0
PROVISIONAT DECEMBER 31, 2014
123
Actuarial gains and losses related to changes in demographic and financial assumptions
and experience adjustment
(inmillions of euros)
2013 Adjusted
2014
ACTUARIAL DEBT
Actuarial gains and losses related to experience adjustment
(1)
(6)
Actuarial gains and losses related to changes in demographic assumptions
0
0
Actuarial gains and losses related to changes in financial assumptions
(0)
23
Detail of plan assets
The assets of insured defined benefit plans are invested in investment funds held by insurance companies in each of the countries
concerned except for Worldwide Structures.
The following table shows the breakdown of these plan assets by country (except for the Netherlands for which no information is available):
Detail of plan assets
Netherlands
Germany
Belgium Switzerland
Worldwide
Structures
Bonds
-
5
12
5
25
Real Estate
-
-
1
3
2
Shares
-
-
1
3
3
Liquidity
-
-
0
1
-
Other
53
-
0
1
-
TOTALVALUE OF PLANASSETS
53
5
14
13
30
Sensitivity analysis
At December 31, 2014, 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 €12.7 million reduction in the projected benefit obligation, a 0.5
point decrease in the discount rate would lead to a €14.2 million
increase in the projected benefit obligation.The impact on the cost
for the year would not be material.
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.
Registration Document 2014
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