2021 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

Including other employee benefits in the United States

Including total employee benefits in the United States

Other employee benefits

Total employee benefits

Including United States Pension

Pension

(in thousand euros)

PRESENT VALUE OF OBLIGATION At January 1, 2020

530,325 403,821 107,871 107,428 638,196 511,249

Reclassification

(87)

-

-

-

(87)

-

Acquisition of subsidiaries

399

-

-

-

399

-

Period costs:

1,822

(5,236)

(16,232)

(16,359)

(14,410)

(21,595)

Current service costs •

10,613

6,062

1,359

1,238

11,972

7,300

Past service costs (including curtailment) •

(22,515)

(22,361)

(20,353)

(20,353)

(42,868)

(42,714)

Settlement •

470

-

-

-

470

-

Interest costs •

13,255

11,062

2,762

2,756

16,016

13,818

Benefits paid

(38,313)

(27,939)

(3,299)

(3,145)

(41,611)

(31,083)

Actuarial difference on gross obligation

52,216

47,076

9,573

9,573

61,789

56,649

Financial assumptions •

56,299 (4,083)

50,887 (3,812)

16,362 (6,789)

16,369 (6,796)

72,661

67,256

Demographic assumptions •

(10,873)

(10,608)

Taxes paid included in DBO

(622)

-

-

-

(622)

-

Contributions paid

7

-

-

-

7

-

Administrative expenses

(4)

-

-

-

(4)

-

Exchange differences

(40,595)

(35,640)

(9,832)

(9,797)

(50,427)

(45,437)

At December 31, 2020

A 505,149 382,082

88,081

87,700 593,230 469,782

FAIR VALUE OF PLAN ASSETS At January 1, 2020

474,608 397,172

-

-

474,608 397,172

Reclassification

(87)

-

-

-

(87)

-

Total period income:

12,418

10,839

-

-

12,418

10,839

Interest income •

12,418

10,839

- -

- -

12,418

10,839

Curtailment and settlement •

-

-

-

-

Benefits paid

(34,334)

(27,939)

(3,145)

(3,145)

(37,478)

(31,083)

Contributions paid by participants

7

-

-

-

7

-

Contributions paid by employer

10,119

4,081

3,145

3,145

13,264

7,226

Taxes paid from plan assets

(622)

-

-

-

(622)

-

Administrative expenses

(1,084)

(975)

-

-

(1,084)

(975)

Return on assets (excluding interest income)

47,963

45,052

-

-

47,963

45,052

Exchange differences

(38,168)

(34,163)

-

-

(38,168)

(34,163)

At December 31, 2020

B 470,821 394,068

-

-

470,821 394,068

NET LIABILITY IN THE BALANCE SHEET AS OF DECEMBER 31, 2020 NET LIABILITY IN THE BALANCE SHEET AS OF DECEMBER 31, 2019

C = A-B

34,328 (11,986)

88,081

87,700 122,409

75,714

55,717

6,649 107,871 107,428 163,588 114,077

237

• BIC GROUP - 2021 UNIVERSAL REGISTRATION DOCUMENT •