Euronext - 2020 Universal Registration Document

Financial Statements

Notes to the Consolidated Financial Statements

The maturity of expected benefit payments over the next ten years is as follows:

As at 31 December 2020

Less than a year Between 1-2 year

Between 2-5 year Between 5-10 year

Total

Pension benefits

960

1,002

3,444

9,814

15,220

The weighted average duration of the defined benefit obligation for retirement plans is 18 years at 31 December 2020. For 2021, the expected obligations contributions are approximately €0.8 million.

NOTE 31 PROVISIONS

Restructuring

Leases

Jubilee Legal claims Plan Agents

Others

Total

In thousands of euros

Changes in provisions As at 1 January 2020

3,238

2,037

2,463

1,899

1,156

4,390

15,183

Additional provisions charged to income statement

3,248

249

188

651

–

155

4,491

Used during the year

(2,781)

(445)

(27)

–

(281)

(418)

(3,952)

Unused amounts reversed

–

–

–

–

–

(266)

(266)

Acquisition of subsidiary (Note 5)

239

1,000

–

–

–

–

1,239

Reclassifications and other

1,206

–

–

–

–

(320)

886

Exchange differences

(195)

(6)

–

–

–

(212)

(413)

AS AT 31 DECEMBER 2020 Composition of provisions

4,955

2,835

2,624

2,550

875

3,329

17,168

–

Current

1,841 3,114 4,955

–

–

–

–

808

2,649

2,835 2,835

2,624 2,624

2,550 2,550

875 875

2,521 3,329

14,519 17,168

Non Current

TOTAL

Restructuring The restructuring provision relates to employee termination benefits that have an uncertain character. The increase for the year was primarily related to the recognition of restructuring costs in VP Securities and a reclassification from trade and other payables in Oslo. Leases The leases provision relates to estimated future dismantling or removing costs, primarily for the lease of its “Praetorium” office in Paris and the VP Securities office. 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 2022. Others The “Others” provision primarily relates to a compensation scheme in Oslo, that gives employees compensation for a change in their historical DB pension arrangements. Furthermore, the provision comprises stamp duty tax and onerous cost related to terminated commercial contracts. The movements that occurred during the year related to these components.

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2020 UNIVERSAL REGISTRATION DOCUMENT