NATIXIS - Universal registration document and financial report 2019
FINANCIAL DATA Consolidated financial statements and notes
Separate assets
31/12/2019
31/12/2018
Post-employment defined- benefit plan
Post-employment defined- benefit plan
Supplementary pension benefits and other
Supplementary pension benefits and other
End-of-career awards
End-of-career awards
Total
(in millions of euros)
Total
Total revaluation adjustments at start of period
38
5 0 1
43
51
2
54
o/w effect of ceiling on assets
0
0
Revaluation adjustments over the period o/w effect of ceiling on plan assets Total revaluation adjustments at end of period
(29)
(29)
(14)
3
(10)
7
6
13
38
5
43
o/w effect of ceiling on assets
the net interest cost reflecting the impact of unwinding the V discount on the net obligation. Obligations in respect of other long-term employee benefits are accounted for using the same actuarial valuation method as that used for post-employment defined-benefit obligations, except for revaluation adjustments, which are immediately recognized in income.
f) Analysis of expenses for the period The annual payroll costs recognized in respect of defined-benefit plans consist of: the costs of services rendered, representing rights vested by V beneficiaries over the period; past service costs, arising from possible plan changes or V curtailments as well as the effects of possible plan settlements;
5
31/12/2019
31/12/2018
Post-employment defined- benefit plan
Other long-term employee benefits
Supplementary pension benefits and other
End-of-career awards
Long-service awards
Other
Total
(in millions of euros)
Total
Service cost
7
12 (0)
4
28
50 (2) 19
92 (0) 19
Past service cost
(2) 15
(0)
0 0 0 0
Interest cost
3
1 0 0 5
Interest income
(12)
(2)
(14)
(13)
Other
(1)
0
(1) 53
(4) 94
TOTAL EXPENSE FOR THE YEAR
7
13
28
g) Main actuarial assumptions at December 31, 2019 The amount of the provision for post-employment defined-benefit plans is calculated on an actuarial basis using a number of demographic and financial assumptions.
31/12/2018
31/12/2019
France
Europe United States
France
Europe United States
Discount rate Inflation rate
0.40% 1.60% 2.27% 2.42%
1.43% 2.32% 2.58% 0.00%
3.11% 2.64% 3.99% 3.90%
1.28% 1.70% 2.29% 2.77%
2.40% 2.55% 2.58% 4.20%
4.15% 3.00% 4.00% 5.00%
Rate of increase in salaries
Rate of increase in healthcare costs
Duration (in years)
13
18
14
12
16
13
357
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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2019
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