Euronext - 2019 Universal Registration Document

Financial Statements

Consolidated Statement of Changes in Equity

Restructuring The restructuring provision relates to employee termination benefits that have an uncertain character. The increase for the year related to the recognition of restructuring costs in Oslo Leases The leases provision relates to estimated future dismantling or removing costs, primarily for the lease of its “Praetorium” office in Paris. The position recognised as “current” at 31 December 2018, was transferred to “non-current” as per 1 January 2019. Jubilee The Jubilee provision increased, mainly due to the decrease in discount rates. Legal claims The legal claims provision relates to individual litigation settlement cases.

Plan Agents The provision for Plan Agents relates to a retirement allowance for retired stockbrokers in Belgium, which is determined using actuarial assumptions. No cash outflows are expected for 2020.

Others

DB compensation In connection with the termination of the collective defined benefit scheme for employees of Oslo Børs VPS on 31 December 2012, a compensation scheme has been established, which subject to certain conditions, gives employees compensation for the change in their pension arrangements. The provision was included at fair value in the acquisition balance sheet of Oslo Børs VPS (see Note 5). The other movements in “Others” provision were primarily due to the recognition of onerous costs recorded in exceptional items (see Note 12), which related to terminated commercial contracts. The other item included in the yearend balance of Others provision relates to stamp duty tax.

NOTE 32 TRADE AND OTHER PAYABLES

2019 3,155

2018 2,585

In thousands of euros

Trade payables

Social security and other taxes (excluding income tax)

32,634

22,659

43,883

44,200

Employees’ entitlements and other payables (a)

Accrued expenses

37,626

45,888

115,332

TOTAL

117,298

(a) Amounts include salaries payable, bonus accruals, severance (signed contracts) and vacation accruals.

The line accrued expenses contains a decrease of €3.9 million following the adoption of IFRS 16 (see Note 3).

The carrying values of current trade and other payables are reasonable approximations of their fair values. These balances do not bear interest.

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2019 UNIVERSAL REGISTRATION DOCUMENT