AIRBUS - 2020 Financial Statement

2. Notes to the IFRS Consolidated Financial Statements / 2.6 Employees Costs and Benefits

Provision for retirement and deferred compensation plans The development of the provision for retirement and deferred compensation plans is set out below:

DBO

Plan assets

Pension plans of the Company

Participation in BAE Systems Pension Scheme

Pension plans of the Company

Participation in BAE Systems Pension Scheme

Total provisions

in the UK Total

in the UK Total

(In € million)

Balance at 1 January 2019

13,562

3,475 17,037 (6,973)

(2,990)

(9,965)

7,072

Service cost (including past service cost)

443

63 506

0

0

0

506

Interest cost and income

231

94 325

(120)

(79)

(198)

127

Remeasurements: actuarial (gains) and losses arising from changes in demographic assumptions

1,265

(32)

1,233

0

0

0

1,233

changes in financial assumptions

1,768

310 2,078

0

0

0

2,078

changes in experience adjustments

127

(4)

124

0

0

0

124

plan assets

0

0

0

(615)

(128)

(744)

(744)

Changes in consolidation, transfers and others

(132)

0 (132)

(13)

0

(13)

(145)

Benefits paid

(416)

(106)

(522)

151

106

257

(265)

Contributions by employer and other plan participants Foreign currency translation adjustments

85

2

87

(1,674)

(91)

(1,765)

(1,678)

92

189 280

(77)

(161)

(235)

43

Balance at 31 December 2019

17,025

3,991 21,016 (9,320)

(3,343) (12,663)

8,353

Service cost (including past service cost)

590

72

662

0

0

0

662

Interest cost and income

168

76

244

(95)

(62)

(157)

87

Remeasurements: actuarial (gains) and losses arising from changes in demographic assumptions

(69)

(3)

(72)

0

0

0

(72)

changes in financial assumptions

1,645

578

2,223

0

0

0

2,223

changes in experience adjustments

(106)

27

(79)

0

0

0

(79)

plan assets

0

0

0

(420)

(117)

(537)

(537)

Changes in consolidation, transfers and others

11

0

11

(45)

0

(45)

(34)

Benefits paid

(450)

(153)

(603)

147

153

300

(303)

Contributions by employer and other plan participants Foreign currency translation adjustments

80

2

82

(256)

(83)

(339)

(257)

(116)

(220)

(336)

93

180

273

(63)

Balance at 31 December 2020 18,778

4,370 23,148 (9,896)

(3,272) (13,168)

9,980

In the figures shown in the table, amounts of €2,625 million and €1,435 million are included for the defined benefit obligation and plan assets for deferred compensation plans in Germany (2019: €2,275 million and €1,208 million).

The past service cost included in the service cost amounts to €106 million and € -6 million as of 31 December 2020 and 2019, respectively. The employer contributions amount to €331 million and €8 million for other plan participants as of 31 December 2020 (2019: €1,758 million and €7 million respectively).

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Airbus / Financial Statements 2020