HERMES_REGISTRATION_DOCUMENT_2017

PARENT COMPANY FINANCIAL STATEMENTS

NOTE TO THE FINANCIAL STATEMENTS

POST-EMPLOYMENT BENEFIT OBLIGATIONS

NOTE 17

lion), less the fair value of pension assets (€14 million), and actuarial gains and losses (€62.5 million) plus past service costs (€7.7 million). For FY 2017, the following actuarial assumptions were used:

As at 31 December 2017, the value of post-employment benefit obliga- tions amounted to €90.1million versus €92.0million as at 31December 2016. Amounts due in respect of statutory retirement benefits and sup- plemental pension plans have been paid over to an insurance company; the value of the funds is €14.0 million. After applying the “corridor” method, actuarial gains and losses amounted to €62.5 million as at 31 December 2017 compared with €65.3 million as at 31 December 2016. The provision recorded at end-December 2017 amounted to €21.3 mil- lion and corresponds to the total value of the commitment (€90.1 mil-

retirement age:

62 to 65 years of age

s

increase in salaries:

3 to 4%

s

discounting rate:

0.9% to 1.3% 1.8% to 2.8%

s

s expected rate of return on plan assets:

COMPENSATION OF CORPORATE OFFICERS

NOTE 18

Gross aggregate compensation paid to Corporate Officers in respect of 2017 amounted to €4.6 million, including €0.6 million in directors’ fees.

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2017 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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