PERNOD RICARD - Universal Registration Document 2019-2020

6. CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements

Changes in provisions for pensions and other long-term employee benefits are shown below:

30.06.2019

30.06.2020

Medical expenses and other employee benefits

Medical expenses and other employee benefits

Net liabilities recognised in the balance sheet € million Change in the actuarial value of cumulative benefit obligations Actuarial value of cumulative benefit obligations at beginning of period

Pension commitments

Pension commitments

Total

Total

5,092

148

5,240

4,965

147

5,113

Service cost

40

3

43

42

3

46

Interest cost (effect of unwinding of discount)

139

5

144

118

4

122

Employee contributions

2

1

3

4

1

5

Benefits paid

(262)

(10)

(272)

(257)

(10)

(268)

Administrative fees/premiums/levies

(1)

-

(1)

0

-

0

Plan amendments/reduction of future rights

34

0

33

(11)

(5)

(16)

Liquidation of benefits

-

-

-

0

-

0

Actuarial (gains)/losses

(50)

(1)

(50)

641

6

647

Currency translation adjustments

(30)

2

(27)

(91)

(1)

(92)

Changes in scope of consolidation

0

0

0

28

0

28

ACTUARIAL VALUE OF CUMULATIVE BENEFIT OBLIGATIONS AT END OF PERIOD Change in the fair value of plan assets Fair value of plan assets at beginning of period

4,965

147

5,113

5,440

145

5,584

5,478

-

5,478

5,645

-

5,645

Interest income on plan assets

151

-

151

136

-

136

Experience gains/(losses) on plan assets

265

-

265

(269)

-

(269)

Employee contributions

2

-

2

4

-

4

Employer contributions

51

-

51

53

-

53

Benefits paid

(248)

-

(248)

(248)

-

(248)

Administrative fees/premiums/levies

(10)

-

(10)

(12)

-

(12)

Plan amendments/reduction of future rights

-

-

-

-

-

-

Liquidation of benefits

-

-

-

-

-

-

Currency translation adjustments

(45)

-

(45)

(77)

-

(77)

Changes in scope of consolidation

-

-

-

26

-

26

FAIR VALUE OF PLAN ASSETS AT END OF PERIOD

5,645

-

5,645

5,259

-

5,259

Present value of funded benefits

4,844

-

4,844

5,335

-

5,335

Fair value of plan assets

5,645

-

5,645

5,259

-

5,259

Deficit/(surplus) on funded benefits

(801)

-

(801)

77

-

77

Present value of unfunded benefits

121

147

268

104

145

249

Effect of ceiling on plan assets (including the impact of IFRIC 14)

9

-

9

15

-

15

NET (ASSETS)/LIABILITIES RECOGNISED IN THE BALANCE SHEET

(671)

147

(524)

196

145

341

193

Pernod Ricard Universal Registration Document 2019-2020