NATIXIS // 2021 Universal Registration Document
CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER 31, 2021 Consolidated financial statements and notes
a) Amounts recognized on the balance sheet as at December 31, 2021 The amount of the recognized provision on the liability side of the balance sheet corresponds to the value of the actuarial liabilities under the defined benefit plans, less the market value of the assets to hedge these benefit liabilities.
31/12/2021
31/12/2020
Post-employment defined-benefit plans
Other long-term employee benefits
Post-employment defined-benefit plans
Other long-term employee benefits
Supple mentary pension benefits and other
Supple mentary pension benefits and other
End-of career awards
Long service awards
End-of
Long service awards
Other benefits
career awards
Other benefits
Total
(in millions of euros)
Total
Actuarial liabilities
558
173 (96) (27)
41
271
1,043 (538)
579
212
49
185
1,025 (528)
Fair value of plan assets
(443)
0 0 0
0 0 0
(423)
(105)
0 0 0
0 0 0
(36)
(64)
(33)
(29)
(62)
Fair value of separate assets (a) Effect of ceiling on assets NET AMOUNT RECOGNIZED IN BALANCE SHEET
20
0
20
0
0
0
99
50 78 27
41 41
271 271
461 525
124 156
77
49 49
185 185
435 497
Under liabilities Under assets
135
107
36
0
0
64
33
29
0
0
62
Separate asset components are for the most part segregated in the balance sheets of Natixis insurance subsidiaries (ABP Life Insurance), hedging the benefit liabilities of other entities (a) within the Natixis group of consolidated companies which were transferred to hedge the post-employment benefits of a few categories of employees.
b) Changes in recognized amounts on the balance sheet (Changes in actuarial liabilities)
31/12/2021
31/12/2020
Post-employment defined-benefit plans
Other long-term employee benefits
Post-employment defined-benefit plans
Other long-term employee benefits
Supple mentary pension benefits and other
Supple mentary pension benefits and other
5
End-of career awards
Longs
End-of
Long service awards
ervice awards
Other benefits
career awards
Other benefits
Total
(in millions of euros)
Total
Actuarial liabilities at start of period Changes recorded in net income
579
212
49
185
1,025
622
238
54
127
1,042
(13)
(1) 13 (0)
1 4 1
101
88 77
(27)
8
3 4 1
(23)
(39)
Service cost
2 0
57
6
12
18
40
Past service cost
0
1
(13)
0
0
(12)
o/w plan liquidation and reduction
0 9
(0)
(0)
0 0
(0) 11
(13)
0 1
0 0
0 0
(13)
Interest cost Benefits paid
1
0
12
13
(24)
(15)
(2)
(35)
(76)
(32)
(6)
(2)
(41)
(81)
o/w amounts paid out in respect of plan liquidation Revaluation adjustments on other long-term employee benefits Changes recognized directly in equity with no recycling Revaluation adjustments – demographic assumptions Revaluation adjustments – financial assumptions Revaluation adjustments – past-experience effect Translation adjustments Changes associated with non-current assets held for sale (a) Other
(7)
(13)
0
0
(21)
(16)
(5)
0
0
(21)
0
0 0
(1) (1)
0
(1) 77
0
0 1
(0)
0 1
(0)
(0)
78
(0)
0
2
(33)
(9)
0
0
(43)
34
2
0
0
36
0
(5)
0
0
(5)
6
1
0
0
7
(23)
(2)
0
0
(25)
17
4
0
0
21
(11)
(2) (0)
0 0
0 2
(13)
12
(3) (0)
0 0
0
9
22
24
(28)
(3)
(31)
(0)
(29)
(10)
(17)
(56)
(21)
(36)
(9)
(3)
(68)
Changes in scope
0 3
0 1
0 1
0
0 4
0
0
0
0
0
(0)
(1)
(0)
(0)
86
85
Other (b)
Actuarial liabilities at end of period
558
173
41
271
1,043
579
212
49
185
1,025
Corresponds to the Insurance, Payments and Natixis Immo Exploitation business lines at December 31, 2021, treated for accounting purposes under IFRS 5, and at December 31, 2020 to (a) Coface, which has been treated for accounting purposes under IFRS 5 and under EM since early 2020. Including €86 million corresponding to the reclassification to the opening of the provision for Time Savings Accounts now considered as a long-term benefit. (b)
379
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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2021
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