HERMÈS - 2019 Universal Registration Document

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CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

28.3.1 RECONCILIATION OF THE VALUE OF POST-EMPLOYMENT AND OTHER EMPLOYEE BENEFIT COMMITMENTS

Post- employment plans

Post- employment plans

Other long-term benefits

Other long-term benefits

2019

2018

In millions of euros

Present value of obligations at 1 January

244.6

13.9

258.4

242.4

13.6

256.0

Foreign currency adjustments

3.8

0.1 1.5 0.3

3.9

5.0

0.1 1.4 0.2

5.1

Service cost Interest cost Benefits paid

15.0

16.5

15.1

16.5

2.7

3.0

2.2

2.4

(3.0)

(0.7)

(3.7)

(14.9)

(1.0)

(15.9)

Employee contributions

1.7

-

1.7

1.6

-

1.6

Experience gains and losses

12.6

0.3

12.9

(2.0)

(0.1)

(2.1)

Actuarial gains and losses from demographic assumptions Actuarial gains and losses from financial assumptions

0.4

-

0.4

2.2

0.1

2.3

36.5 19.9 (0.1)

1.6 0.2

38.1 20.1 (0.1)

(7.5)

(0.3) (0.2)

(7.8)

Past service cost 1

0.5

0.3

Other

-

-

-

Present value of obligations as at 31 December 258.4 Corresponds mainly to the impact of the vesting of rights under certain plans following the entry into force of the French PACTE law and the Order of 3 July 2019. (1) 334.1 17.2 351.2 244.6 13.9

28.3.2 EVALUATION OF FAIR VALUE OF PENSION PLANS

2019 55.5

2018 61.7

In millions of euros

Fair value of assets at 1 January

Employer contributions Employee contributions

6.2 1.7

5.4 1.6

Benefits paid

(4.1)

(14.9)

Financial income

0.6

0.5

Administrative expenses

(0.2)

(0.2)

Foreign currency adjustments Actuarial gains and losses

1.7 1.5

1.5

(0.1) 55.5

Fair value of assets as at 31 December

63.0

28.3.4 CHANGE IN ACTUARIAL GAINS AND LOSSES

In millions of euros Actuarial gains and losses recognised in equity as at 31 December 2018

129.8

Experience gains and losses

12.6

Actuarial gains and losses from changes in demographic assumptions Actuarial gains and losses from changes in financial assumptions

0.4

36.5 (1.5)

Impact of limits on plan assets Foreign currency adjustments

0.8

Actuarial gains and losses recognised in equity as at 31 December 2019

178.6

2019 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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