technicolor - 2020 Universal Registration Document

6 FINANCIAL STATEMENTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 9 - Employee benefit

Multi-employer plan 9.2.1.3 Since August 2009, Technicolor participates in the Motion Picture Industry multi-employer defined benefit plan in the U.S. As the information about the dividing up of plan financial position and performance between each plan Member are not available, Technicolor accounts for this plan as a defined contribution plan. The average expense incurred each year is around €2 million.

In other countries, Technicolor maintains pension plans in Mexico, in Belgium, in South Korea and in Japan. The benefits are mainly based on employee’s pensionable salary and length of service. Medical Post-retirement benefits In the U.S. & in Canada, Technicolor provided to certain employees a post-retirement medical plan. The medical plan in the U.S. includes basic medical and dental benefits and has been closed to new entrants. The medical plan in Canada includes life insurance, health and dental care benefit coverage and was closed to new entrants.

9.2.2 Statements of operations 9.2.2.1

ELEMENTS OF THE STATEMENT OF OPERATIONS AND OTHER COMPREHENSIVE INCOME

Medical Post-retirement benefits

Pension plan benefits Total 2020 2019 2020 2019 2020 2019

(in million euros)

Service cost: current service cost •

(3)

(3)

- -

- -

(3)

(3)

past service cost and gain from settlements •

4

3

4

3

Financial interest expense, net: interest cost on obligation • interest income on plan assets •

(8)

(13)

- -

- -

(8)

(13)

4

6

4

6

COMPONENTS OF DEFINED BENEFIT COSTS RECOGNIZED IN PROFIT OR LOSS

(3)

(7)

-

-

(3)

(7)

Other comprehensive income 9.2.2.2

Medical Post-retirement benefits

Pension plan benefits Total 2020 2019 2020 2019 2020 2019

million euros)

OPENING

(222)

(178)

Actuarial gains/(losses) arisen on plan assets: due to the return on plan assets • Actuarial gains/(losses) arisen on benefit obligation: due to changes in demographic assumptions • due to changes in financial assumptions (1) •

16

20

-

-

16

20

1

(2)

- - -

- - -

1

(2)

(34)

(53)

(34)

(53)

due to experience adjustments •

3

(9)

3

(9)

COMPONENTS OF DEFINED BENEFIT COSTS RECOGNIZED IN OCI

(14)

(44)

-

-

(14)

(44)

CLOSING

(236)

(222)

In 2020 and 2019, the decrease in discount rates (see note 9.2.5) resulted in actuarial losses for respectively €14 million and €45 million. (1)

TECHNICOLOR UNIVERSAL REGISTRATION DOCUMENT 2020 252