BIC_REGISTRATION_DOCUMENT_2017

FINANCIAL STATEMENTS Consolidated financial statements

Change in the net obligation of defined-benefit plans 18-2

Other employee benefits

Including U.S. other employee benefits

Including total U.S. employee benefits

Including U.S. Pension

Total employee benefits

Pension

(in thousand euros)

PRESENT VALUE OF OBLIGATION At January 1, 2017

565,516

102,025

667,541

431,854

99,721

531,576

Period costs:

18,178 11,510

4,958 1,662

23,136 13,172

12,766

5,116 1,827

17,882

Current service costs •

7,957

9,784

Past service costs (including plan • curtailment)

(10,601) (1,191)

(10,541)

(287)

(287)

(10,888) (1,191)

(10,828)

Settlement • Interest costs •

-

-

-

-

18,460

15,350

3,583

3,576

22,043

18,926

Benefits paid

(52,112) 28,356

(4,000) 4,384 11,668 (2,224)

(56,113) 32,740

(46,022)

(42,960) 27,236

(3,062)

Actuarial difference on gross obligation

4,381

31,617 43,287 (2,677)

Financial assumptions • Demographic assumptions •

20,426 (1,422)

31,620

11,668 (2,224)

32,095 (3,646)

(453)

Taxes paid included in DBO

(385)

- - -

- - -

- - -

(385)

- - -

Contributions paid

8

8

Administrative expenses Exchange differences

(3)

(3)

(56,736)

(12,562)

(69,298)

(52,859)

(12,444)

(65,303)

Non-current liabilities held for sale at December 31, 2016 not sold in 2017 and reclassified

1,203

-

-

-

1,203

-

At December 31, 2017 A

504,026

94,805

598,830

376,038

93,713

469,750

FAIR VALUE OF PLAN ASSETS At January 1, 2017

464,556 14,726 16,196 (1,470) (49,978)

- - - -

- - - -

464,556 14,726 16,196 (1,470) (53,040)

391,061

391,061

Total period income:

14,208 14,208

14,208 14,208

Interest income •

Curtailment and settlement •

-

-

Benefits paid

(3,062)

(42,960)

(3,062)

(46,022)

Contributions paid by participants Contributions paid by employer Taxes paid from plan assets

8

-

-

-

8

-

11,438

3,062

14,501

5,807

3,062

8,869

(385)

-

- - - - -

- - - - -

(385)

-

Administratives expense

(1,179) 47,129 (51,811) 434,506

(1,179) 47,129 (51,811) 434,506

(1,053) 45,346 (49,048) 363,361

(1,053) 45,346 (49,048) 363,361 -

Return on assets (excluding interest income)

Exchange differences

At December 31, 2017 B

NET LIABILITY IN THE BALANCE SHEET AS OF DECEMBER 31, 2017 C = A-B NET LIABILITY IN THE BALANCE SHEET AS OF DECEMBER 31, 2016

69,520

94,805

164,325

12,676

93,713

106,389

100,960

102,025

202,985

40,793

99,721

140,514

199

BIC GROUP - 2017 REGISTRATION DOCUMENT