EDF / 2019 Universal registration document

6. Financial statements

Notes to the consolidated financial statements

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

2019

2018

(in millions of euros)

Experience adjustments

(95)

(90) 462

Changes in demographic assumptions Changes in financial assumptions*

(1)

(4,260) (4,356)

2,968 3,340

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

(4,151)

3,323

(205)

17

Financial assumptions mainly concern the discount rate, inflation rate and wage increase rate. *

The actuarial gains and losses on obligations generated over 2019 amount to €(4,356) million, and are mainly associated with changes in the discount rate, the inflation rate, the proposed law on social security system funding for 2020 and the updating of the wage law (see note 34.2.7).

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.

34.2.3

Provisions for employee benefits by nature

At 31 December 2019

Provisions in the balance sheet

Obligations

Fund assets

(in millions of euros)

Provisions for post-employment benefits at 31/12/2019

31,776

(12,581)

19,195

Comprising: Pensions

24,463

(11,778)

12,685

Benefits in kind (electricity/gas)

4,876

-

4,876

Retirement gratuities

898

(787)

111

Other

1,539 1,534

(16)

1,523 1,534

Provisions for other long-term employee benefits at 31/12/2019 Comprising: Annuities following work-related accident and illness, and invalidity

-

1,290

- - -

1,290

Long service awards

214

214

Other

30

30

PROVISIONS FOR EMPLOYEE BENEFITS AT 31/12/2019

33,310

(12,581)

20,729

At 31 December 2018

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

PROVISIONS FOR EMPLOYEE BENEFITS AT 31/12/2018

29,201

(11,165)

18,036

354

EDF | Universal registration document 2019

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