HERMÈS - 2020 Universal registration document

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

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

Other long-term benefits

Other long-term benefits

Post-employment plans

Post-employment plans

2020

2019

In millions of euros

Present value of obligations at 1 January

334.1

17.2 (0.4)

351.2

244.6

13.9

258.4

Foreign currency adjustments

(1.8) 16.0

(2.2) 18.0

3.8

0.1 1.5 0.3

3.9

Service cost Interest cost Benefits paid

2.0 0.2

15.0

16.5

1.0

1.2

2.7

3.0

(4.4)

(0.9)

(5.3)

(3.0)

(0.7)

(3.7)

Employee contributions

1.8 4.9

-

1.8 5.1

1.7

-

1.7

Experience gains and losses

0.2

12.6

0.3

12.9

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

0.2

-

0.2

0.4

-

0.4

(2.0)

0.2

(1.8) (2.0)

36.5 19.9

1.6 0.2

38.1 20.1

0.8 2.1

(2.8) (0.1)

Plan changes 1 Change in scope

2.0

-

-

-

Other

(0.1)

-

(0.1)

(0.1)

(0.1)

PRESENT VALUE OF OBLIGATIONS AS AT 31 DECEMBER

352.5 351.2 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) 15.6 368.1 334.1 17.2

28.3.2 EVALUATION OF THE FAIR VALUE OF PENSION PLANS

2020 63.0

2019 55.5

In millions of euros

Fair value of assets at 1 January

Employer contributions Employee contributions

8.2 1.8

6.2 1.7

5

Benefits paid

(9.3)

(4.1)

Financial income

0.1

0.6

Administrative expenses

(0.2)

(0.2)

Foreign currency adjustments Actuarial gains and losses

0.2 0.8 0.1

1.7 1.5

Change in scope

-

FAIR VALUE OF ASSETS AS AT 31 DECEMBER

64.7

63.0

28.3.3 CHANGE IN ACTUARIAL GAINS AND LOSSES

In millions of euros Actuarial gains and losses recognised in equity as at 31 December 2019

178.6

Experience gains and losses

4.9 0.2

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

(2.0) (0.8) (0.4)

Actuarial gains and losses on assets

Foreign currency adjustments

ACTUARIAL GAINS AND LOSSES RECOGNISED IN EQUITY AS AT 31 DECEMBER 2020

180.5

2020 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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