AFD - 2018 Registration document

7

AFD’S ANNUAL FINANCIALS STATEMENTS Accounting principles and assessment methods

Expatriate employees healthcare expenses Retirement

Total defined benefit plans

Retiree health insurance

Retirement lump sum

Service award

Total Overall

In thousands of euros

Amounts recognised on the balance sheet at 31/12/2018 Present value of the funded commitment

9,036

36,959 -46,169

Fair value of financed assets

0 0

-174

-174

Present value of unfunded commitment

88,634 88,634 -7,943 80,690

17,098 105,732 17,098 105,557

1,102 106,834 1,102 106,660

Net position

9,036

-9,211

Unrecognised actuarial gains (losses)

0

7,522

-947

-1,369

-1,369

Balance sheet provision

9,036

-1,689

16,151 104,189

1,102 105,291

Amounts recognised on the income statement at 31/12/2018 Cost of services rendered over the period 0

203

3,862

1,266

5,332 9,036 2,279

142

5,474 9,036 2,303

Cost of past services

9,036

0

0

0

0

Financial cost for the period

0 0 0

223

1,730

326

24

Recognised actuarial gains (losses) Expected return on retirement plan assets

-5

8

2

5

-165

-160 -248

-248

-248

Cost of services rendered Impact of reductions/liquidations Expenses booked

9,036

173

5,600

1,594 16,404

1 16,404

Reconciliation of opening and closing net liability Liability at 1 January

0 -2,529

74,749 14,988 87,207

964 88,171

Expenses booked Contributions paid

9,036

173

5,600

1,594 16,404

1 16,404

0

Restatements and transfers Employer contributions

0

667 218,108

682 3,529 217,806 3,747

0 0

-1,838 -1,113 -2,952

-80 -3,032

Items not to be recycled in profit or loss

0

0

0

0

0

Net liabilities at 31/12/2018

9,036 -1,689 80,690 16,151 104,189 1,102 105,291

Change in net liabilities

9,036

840

5,942

1,163 16,981

139 17,120

Projected commitments at 31 December 2018 are as follows:

Actuarial debt at 31/12/2018 Cost of services rendered in 2019

9,036 36,959 88,634 17,098 151,727

1,102 152,829 152 6,571

330 187

168 4,484 1,438 6,419

Financial cost in 2019

260 1,862

348 2,657

23 2,681

Services payable in 2019/transfer of capital upon departures in 2018

- 66 12,183 - 1,933 - 1,359 - 15,540 9,488 25,203 93,047 17,525 145263

- 115 - 15,655 1,163 146,426

Estimated debt at 31/12/2019

7.2.11 Reserve for General Banking Risk (RGBR) In accordance with CRBF 90-02, the Reserve for General Banking Risk is intended to remain permanently in capital reserves for comprehensive general coverage of AFD’s risks. Among other things, the Reserve is intended to hedge: P general risks from AFD’s direct activities in the French Overseas Departments and Collectivities; P general risks for real estate holdings in foreign countries.

7.2.12 Subordinated debt In 1998, an agreement was reached with the French State whereby part of AFD’s debt to the French Treasury, corresponding to drawdowns between 1 January 1990 and 31 December 1997, was converted into subordinated debt. The agreement also provides for the general rescheduling of the debt’s repayment period over 20 years with a 10-year grace period, with any new borrowings after 1 January 1998 recognised as subordinated debt (with a repayment period scheduled over 30 years and a 10-year grace period).

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REGISTRATION DOCUMENT 2018