Financial Statements 2023

2. Notes to the IFRS Consolidated Financial Statements 2.6 Employees Costs and Benefits

For the UK schemes, the Self ‑ Administered Pensions S2 mortality tables based on year of birth (as published by the Institute of Actuaries) is used in conjunction with the results of an investigation into the actual mortality experience of scheme members. In France, Institute for French Statistics (“INSEE”) tables are applied.

Mortality tables — For the calculation of the German pension obligation, the “2018 G” mortality tables (generation tables) as developed by Professor Dr. Klaus Heubeck are applied, while the disability rates of the Heubeck Tables have been reduced to 30%, to align with actual observation.

Funded status for retirement and deferred compensation plans

The development of the funded status for retirement and deferred compensation plans is set out below:

DBO

Plan assets

Participation in BAE Systems Pension Scheme in the UK

Participation in BAE Systems Pension Scheme in the UK

Pension plans of the Company

Pension plans of the Company

Total Funded status

Total

Total

(In € million)

Balance at 1 January 2022

17,699

4,598

22,297 (11,353)

(3,872)

(15,225)

7,072

Service cost (including past service cost)

(25)

72

47

0

0

0

47

Interest cost and income

217

85

302

(141)

(72)

(213)

89

Remeasurements: actuarial (gains) and losses arising from changes in demographic assumptions

141

(3)

138

0

0

0

138

changes in financial assumptions

(5,246)

(2,056)

(7,302)

0

0

0

(7,302)

changes in experience adjustments

613

370

983

0

0

0

983

plan assets

0

0

0

1,911

740

2,651

2,651

Changes in consolidation, transfers and others

(34)

0

(34)

9

0

9

(25)

Benefits paid

(442)

(121)

(563)

159

121

280

(283)

Contributions by employer and other plan participants

80

1

81

(348)

(254)

(602)

(521)

Foreign currency translation adjustments

2

(67)

(178)

(245)

80

183

263

18

Balance at 31 December 2022

12,936

2,768

15,704

(9,683)

(3,154)

(12,837)

2,867

Service cost (including past service cost)

282

38

320

0

0

0

320

Interest cost and income

454

138

592

(342)

(156)

(498)

94

Remeasurements: actuarial (gains) and losses arising from changes in demographic assumptions

(7)

15

8

0

0

0

8

changes in financial assumptions

365

172

537

0

0

0

537

changes in experience adjustments

(209)

101

(108)

0

0

0

(108)

plan assets

0

0

0

(515)

107

(408)

(408)

Changes in consolidation, transfers and others

(67)

0

(67)

(12)

0

(12)

(79)

Benefits paid

(437)

(113)

(550)

156

113

269

(281)

Contributions by employer and other plan participants

80

1

81

(567)

(107)

(674)

(593)

Foreign currency translation adjustments

16

57

73

(23)

(65)

(88)

(15)

Balance at 31 December 2023

13,413

3,177

16,590 (10,986)

(3,262)

(14,248)

2,342

55

Airbus

Financial Statements 2023