Hermès - Registration Document 2016

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CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

25.3.2 Fair value of pension plans

2016

2015

In millions of euros

Fair value of assets at 1 January

70.9

65.3

Employer contributions Employee contributions

4.1 1.7

4.5 1.7

Benefits paid

(3.9)

(6.2)

Financial income

0.8

1.0

Administrative expenses

(0.2)

(0.3)

Foreign currency adjustments Actuarial gains and losses

0.4 0.5 0.0

3.7 1.2

Change in scope

-

Fair value of assets as at 31 December

74.3

70.9

25.3.3 Analysis of provision for post-employment and similar benefit obligations

Defined-benefit pension plans

Other defined- benefit plans

Defined-benefit pension plans

Other defined- benefit plans

31/12/2016

31/12/2015

In millions of euros

Present value of funded obligations

194.7 (74.3) 120.4

194.7 (74.3) 120.4

171.6 (70.9) 100.7

171.6 (70.9) 100.7

Fair value of plan assets

Excess obligations/(assets) in funded plans Present value of unfunded obligations

-

-

55.6

13.0

68.6

48.3

10.8

59.1

Unrecognised net assets

-

-

Net defined-benefit plan obligations Breakdown of obligations – assets Breakdown of obligations – liabilities

176.0

13.0

189.0

149.0

10.8

159.8

-

-

-

-

-

-

176.0 176.0

13.0 13.0

189.0 189.0

149.0 149.0

10.8 10.8

159.8 159.8

Net obligations

25.3.4 Change in actuarial gains and losses

In millions of euros

Actuarial gains and losses recognised in equity as at 31 December 2014

112.4

Experience gains and losses

7.4 0.6 5.8

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

Impact of limits on plan assets Other actuarial gains and losses

-

0.1

Actuarial gains and losses recognised in equity as at 31 December 2015

126.3

Experience gains and losses

2.0

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

(2.6) 15.6

Impact of limits on plan assets Other actuarial gains and losses

-

(0.3)

Actuarial gains and losses recognised in equity as at 31 December 2016

141.0

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2016 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL