EDF / 2018 Reference document

FINANCIAL STATEMENTS Operating assets and liabilities, equity

31.2.2

Post-employment and other long-term employee benefit expenses

2018 (732)

2017 (725)

(in millions of euros) Current service cost

Past service cost

-

-

Actuarial gains and losses – other long-term benefits Net expenses recorded as operating expenses

17

(68)

(715) (627)

(793) (634)

Interest expense (discount effect)

Return on fund assets

221

220

Net interest expense included in financial result

(406)

(414)

EMPLOYEE BENEFIT EXPENSES RECORDED IN THE INCOME STATEMENT

(1,121)

(1,207)

Actuarial gains and losses – post-employment benefits

3,323 (259) 3,064 3,064

598 161 759 759

Actuarial gains and losses on fund assets

Actuarial gains and losses

GAINS AND LOSSES ON EMPLOYEE BENEFITS RECORDED DIRECTLY IN EQUITY

Actuarial gains and losses on post-employment benefits break down as follows:

2018

2017

(in millions of euros)

Experience adjustments

(90) 462

462

6.

Changes in demographic assumptions Changes in financial assumptions (1)

-

2,968 3,340

68

ACTUARIAL GAINS AND LOSSES ON OBLIGATIONS Including: Actuarial gains and losses on post-employment benefits Actuarial gains and losses on other long-term benefits

530

3,323

598 (68)

17

Financial assumptions mainly concern the discount rate, inflation rate and wage increase rate. (1)

The actuarial gains and losses on obligations generated over 2018 amount to €3,340 million, and are mainly associated with changes in the discount rate, the wage increase rate and the updating of the mortality table (see note 31.2.7).

The actuarial gains and losses on obligations generated over 2017 amount to €530 million, and are mainly attributable to experience adjustments.

31.2.3 AT 31 DECEMBER 2018:

Provisions for employee benefits by nature

Provisions in the balance sheet

Obligations

Fund assets

(in millions of euros)

Provisions for post-employment benefits at 31/12/2018

27,798

(11,165)

16,633

Comprising: Pensions

21,514

(10,416)

11,098

Benefits in kind (electricity/gas)

4,233

-

4,233

Retirement gratuities

822

(734)

88

Other

1,229 1,403

(15)

1,214 1,403

Provisions for other long-term employee benefits at 31/12/2018 Comprising: Annuities following work-related accident and illness, and invalidity

-

1,177

- - -

1,177

Long service awards

197

197

Other

29

29

29,201

(11,165)

18,036

PROVISIONS FOR EMPLOYEE BENEFITS AT 31/12/2018

391

EDF I Reference Document 2018