BIC - 2018 Registration document

FINANCIAL STATEMENTS

Consolidated financial statements

18-2

Change in the net obligation of defined-benefit plans

Including U.S. other employee benefits

Including total U.S. employee benefits

Other employee benefits

Total employee benefits

Including U.S. Pension

Pension

(in thousand euros)

PRESENT VALUE OF OBLIGATION At January 1, 2018

504,026

94,805

598,830

376,038

93,713

469,750

Period costs:

26,603

5,601

32,203

20,765

5,314 1,839

26,078

Current service costs •

10,472

6,862

2,120

12,591

8,701

Past service costs •

90

292

118

118

208

410

(including curtailment)

Settlement •

(455)

-

-

-

(455)

-

Interest costs •

16,496

13,611

3,363

3,356

19,859

16,968

Benefits paid

(41,113) (36,060)

(3,679)

(44,792) (48,442)

(32,122) (30,162) (33,429)

(3,221)

(35,343) (42,543) (41,459)

Actuarial difference on obligation

(12,381)

(12,382) (8,029) (4,352)

Financial assumptions •

(33,338)

(8,029) (4,352)

(41,367)

Demographic assumptions •

(2,866)

(1,692)

(7,218)

(6,044)

Taxes paid included in DBO

(303)

- - -

(303)

- - -

- - -

- - -

Contributions paid

7

7

Administrative expenses

(3)

(3)

Exchange differences

16,309

4,317

20,626

17,487

4,327

21,813

At December 31, 2018

A 469,464

88,663

558,127

352,005

87,750

439,756

FAIR VALUE OF PLAN ASSETS At January 1, 2018

434,506

-

434,506

363,361

-

363,361

Total period income:

15,196

- - -

15,196

13,268 13,268

- - -

13,268 13,268

Interest income •

15,196

15,196

Curtailment and settlement •

-

-

-

-

Benefits paid

(38,547)

(3,221)

(41,768)

(32,122)

(3,221)

(35,343)

Contributions paid by participants

7

-

7

-

-

-

Contributions paid by employer

14,290

3,221

17,511

8,960

3,221

12,181

Taxes paid from plan assets

(303)

- - -

(303)

-

- - -

-

Administratives expense

(1,115)

(1,115)

(997)

(997)

Return on assets (excluding interest income)

(42,619)

(42,619)

(40,353)

(40,353)

Exchange differences

15,825

- -

15,825

16,966

-

16,966

At December 31, 2018

B

397,240

397,240

329,084

-

329,084

NET LIABILITY IN THE BALANCE SHEET AS OF DECEMBER 31, 2018 NET LIABILITY IN THE BALANCE SHEET AS OF DECEMBER 31, 2017

C = A-B

72,224

88,663

160,887

22,922

87,750

110,672

69,520

94,805

164,325

12,676

93,713

106,389

223

• BIC GROUP - 2018 REGISTRATION DOCUMENT •