BPCE - 2020 Universal Registration Document
FINANCIAL REPORT
IFRS CONSOLIDATED FINANCIAL STATEMENTS OF GROUPE BPCE AS AT DECEMBER 31, 2020
Change in plan assets
Post-employment defined-benefit plans
Other long-term employee benefits
Supplementary pension benefits and other
End-of-career awards
Long-service awards
Fiscal year 2020
Fiscal year 2019
in millions of euros
8,443
601
10
9,054
8,316
Fair value of plan assets at start of year
Interest income
76 16
3
79 32
151
Plan participant contributions
16 (4)
55
Benefits paid
(182)
(186)
(182)
Other items recorded in income Changes recorded in income
(3)
1
(2)
(1) 23
(93) 160
16
(77) 169
Revaluation adjustments – Return on plan assets Changes recognized directly in other comprehensive income not recyclable to profit or loss
9
705
160 (24)
9
169 (24)
705
Foreign exchange rate adjustments
4 6 6
Changes related to non-current assets held for sale (1)
(1) 10
(1) 13
(2) 23
Other changes (2)
FAIR VALUE OF PLAN ASSETS AT END OF YEAR (1)
8,495
638
10
9,143
9,054
Deconsolidation of Coface under IFRS 5 using the equity method. (1) O/w €476 million in reimbursement rights included in supplementary retirement benefits and €29 million included in end-of-career benefits. (2)
EXPENSES FOR DEFINED-BENEFIT PENSION PLANS AND OTHER LONG-TERM EMPLOYEE BENEFITS Expenses for defined-benefit pension plans and other long-term employee benefits The various components of the expense recognized for defined-benefit plans and other long-term benefits are included under “Payroll costs”. 8.2.3
Amounts paid in cash to beneficiaries reduce the amount of provisions recorded to this end by an equivalent amount. A total of €186 million was charged against pension plan assets. Interest income on plan assets is calculated by applying the same discount rate as that used to discount commitments. The difference between the actual return at the balance sheet date and this interest income is a revaluation difference recorded in equity not recyclable to profit or loss for post-employment benefits.
5
Post-employment defined-benefit plans
Other long-term employee benefits
Fiscal year 2020
Fiscal year 2019
in millions of euros
Service cost
(63)
(40)
(103)
(84)
Net interest cost
(1) (1)
(1)
2
Other (o/w asset ceiling) Expense for the period
(22) (85)
(23)
(41)
(42)
(127)
(123)
Benefits paid
70 32
52
122
132
Plan participant contributions
32
55
Change in provisions due to contributions
102
52 10
154
187
TOTAL
17
27
64
Gains and losses on defined-benefit plans recorded directly in other comprehensive income
Supplementary pension benefits and other
End-of-career awards
Fiscal year 2020
Fiscal year 2019
in millions of euros
Revaluation adjustments at end of period Revaluation adjustments over the period Changes related to non-current assets held for sale (1)
461
62 10
523 104 (35)
281 445
94
(16)
(19)
Adjustments to asset ceiling
(107)
(107)
(203)
REVALUATION ADJUSTMENTS AT END OF PERIOD
432
53
485
523
Deconsolidation of Coface recognized under IFRS 5 using the equity method. (1)
315
UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE
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