EDF / 2020 Universal Registration Document

6 FINANCIAL STATEMENTS

Notes to the consolidated financial statements

In 2020, actuarial gains and losses on post-employment benefits and other long-term employee benefits amount to €(3,439) million (€(146) million for long-term employee benefits and €(3,293) million for post-employment benefit obligations), including: €(896) million in the United Kingdom; ● €(2,502) million in France (€(146) million for long-term employee benefits and ● €(2,356) million for post-employment benefit obligations). These actuarial gains

and losses relate to changes in the discount rate, the inflation rate and experience adjustments (see note 16.1.2). The actuarial gains and losses on obligations generated over 2019 amount to €(4,356) million in France 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.

2020

2019

(in millions of euros)

Experience adjustments

(355)

(95)

Changes in demographic assumptions Changes in financial assumptions*

-

(1)

(2,147) (2,502)

(4,260) (4,356)

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

(2,356)

(4,151)

(146)

(205)

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

16.2

France (regulated activities, and generation and supply)

Given the strong similarities between their pension schemes, the two operating includes EDF and Enedis. Almost all of these companies’ employees have IEG status, segments “France – Generation and Supply” and “France – Regulated activities” including the special IEG pension and other IEG benefits. (see note 4.1) are combined here into a single subtotal, “France”, which primarily

16.2.1

Breakdown of obligations by type of beneficiary

31/12/2020

31/12/2019

(in millions of euros)

Current employees

20,477 15,012 35,489

18,994 14,316 33,310

Retirees

OBLIGATIONS

16.2.2

Provision for employee benefits by nature

At 31 December 2020

Provisions in the balance sheet

Obligations

Fund assets

(in millions of euros)

Provisions for post-employment benefits at 31/12/2020

33,893

(13,470)

20,423

Including: Pensions

25,951

(12,671)

13,280

Benefits in kind (electricity/gas)

5,294

-

5,294

Retirement gratuities

941

(784)

157

Other

1,707 1,596

(15)

1,692 1,596

Provisions for other long-term employee benefits at 31/12/2020 Including: Annuities following work-related accident and illness, and invalidity

-

1,339

- - -

1,339

Long service awards

225

225

Other

32

32

PROVISIONS FOR EMPLOYEE BENEFITS AT 31/12/2020

35,489

(13,470)

22,019

387

EDF - UNIVERSAL REGISTRATION DOCUMENT 2020