Euronext - 2019 Universal Registration Document

Financial Statements

Consolidated Statement of Changes in Equity

The defined benefit obligation and plan assets are composed by country as follows:

2019

Belgium

Portugal

France

Norway

Total

In thousands of euros

Present value of obligation

39

24,729

10,286

13,121

48,175

Fair value of plan assets

-

(18,107)

(3,644)

(466)

(22,217)

TOTAL

39

6,622

6,642

12,655

25,958

2018

Belgium

Portugal

France

Total

In thousands of euros

Present value of obligation Fair value of plan assets

50

20,965

9,704

30,719

-

(16,515)

(3,538)

(20,053) 10,666

TOTAL

50

4,450

6,166

The significant actuarial assumptions were as follows:

2019

Belgium

Portugal

France

Norway

Discount rate

0.3%

1.5%

0.3%

2.3%

Salary growth rate

0.0%

1.7%

0.0%

0.5%

Pension growth rate

0.0%

0.0%

0.0%

1.7%

2018

Belgium

Portugal

France

Discount rate

0.8% 0.0% 0.0%

2.3% 1.5% 1.5%

1.9% 1.8% 0.0%

Salary growth rate Pension growth rate

The Group derives the discount rate used to determine the defined benefit obligation from yields on high quality corporate bonds of the duration corresponding to the liabilities. As of 31 December 2019, the sensitivity of the defined benefit obligation to changes in the weighted principal assumptions were:

Impact on defined benefit obligation

8

Change in assumption

Increase in assumption

Decrease in assumption

Discount rate

0.25% 0.50% 0.50%

-4.2% 1.6% 3.2%

4.4%

Salary growth rate Pension growth rate

-1.4% -2.9%

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2019 UNIVERSAL REGISTRATION DOCUMENT