BPCE - 2019 Universal Registration Document

FINANCIAL REPORT

IFRS CONSOLIDATED FINANCIAL STATEMENTS OF GROUPE BPCE AS AT DECEMBER 31, 2019

8.2.1

ANALYSIS OF EMPLOYEE-RELATED ASSETS AND LIABILITIES RECORDED IN THE BALANCE SHEET

Post-employment defined-benefit plans

Other long-term employee benefits

Supplementary pension benefits and other

End-of-career awards

Long-service awards

Other

12/31/2019

12/31/2018

in millions of euros

Actuarial liabilities

8,164

1,000 (573)

281 (10)

178

9,623

8,520

Fair value of plan assets

(7,976)

(8,559)

(7,723)

Fair value of reimbursement rights Effect of ceiling on plan assets

(467)

(28)

(495)

(593) 1,147 1,351

964 685

964

Net amount reported on the balance sheet Employee benefit commitments recorded in the balance sheet Plan assets recorded in the balance sheet (1)

399

271

178

1,533

1,152

427

271

178

2,028

1,944

467

28

495

593

Mostly recorded on the assets side of the balance sheet under “Accrued income and other assets”. (1)

When these plans are funded by assets meeting the definition of plan assets, the amount of the provision corresponds to actuarial liabilities less the fair value of these assets. Plan assets no longer meeting the definition of plan assets are recorded under assets.

Actuarial liabilities represent the Group’s obligation in respect of beneficiaries. They are calculated by independent actuaries using the projected unit credit method based on demographic and financial assumptions that are reviewed on a regular basis and at least once a year.

8.2.2 Changes in actuarial liabilities

CHANGE IN AMOUNTS RECOGNIZED ON THE BALANCE SHEET

Post-employment defined-benefit plans

Other long-term employee benefits

Supplementary pension benefits and other

5

End-of-career awards

Long-service awards

Fiscal year 2019

Fiscal year 2018

Other

in millions of euros

ACTUARIAL LIABILITIES AT START OF YEAR

7,153

896

266

205

8,520

9,057

Service cost

17 (6)

49

17 (2)

29 (5)

112 (28) 149

152

Past service cost

(15)

(9)

Interest cost Benefits paid

132

13

4

138

(203)

(49)

(15)

(47)

(314)

(310)

Other items recorded in income Changes recorded in income

2

3 1

13 17

1

19

(11) (40)

(58)

(22)

(62)

Revaluation adjustments – demographic assumptions Revaluation adjustments – financial assumptions Revaluation adjustments – past-experience effect Changes recognized directly in other comprehensive income not recyclable to profit or loss Foreign exchange rate adjustments

(3)

2

(1)

(6)

1,098

116

1,214

(379)

(41)

(20)

(61)

(136)

1,054

98

1,152

(521)

4

4 9

12 12

Other changes

11

5

(2)

(5)

ACTUARIAL LIABILITIES AT END OF YEAR

8,164

1,000

281

178

9,623

8,520

291

UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE