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3. Obligations and funded status - At December 31 (in millions of euros) 2002 2001 2000 Present value of projected benefit obligation French companies 1,047 1,288 1,154 Foreign companies 1,678 1,591 1,439 A 2,725 2,879 2,593 Funded status Market value as of December 31 of prior years’ funding French companies 636 909 930 Foreign companies 947 1,139 1,226 Total (1) 1,583 2,048 2,156 Funding to external organizations for the year French companies 9 1 30 Foreign companies 76 59 46 Total (2) 85 60 76 Market value of external funds of December 31 French companies 645 910 960 Foreign companies 1,023 1,198 1,272 B =(1)+(2) 1,668 2,108 2,232 Deferred items Transition obligation French companies 5 8 15 Foreign companies (14) (25) (34) Total (3) (9) (17) (19) Prior service cost French companies 13 (81) (106) Foreign companies 17 21 34 Total (4) 30 (60) (72) Unrecognized net actuarial gains and losses French companies 377 405 298 Foreign companies 583 310 16 Total (5) 960 715 314 Total French companies 395 332 207 Foreign companies 586 306 16 C=(3)+(4)+(5) 981 638 223 Total, net D=A-B-C 76 133 138 Amounts recognized in the balance sheet Reserves French companies 113 101 68 Foreign companies 134 143 166 Total 247 244 234 o/w manufacturing and sales companies 240 238 228 o/w finance companies 7 6 6 Funding surpluses French companies (107) (55) (81) Foreign companies (64) (56) (15) Total (171) (111) (96) o/w manufacturing and sales companies (167) (107) (93) o/w finance companies (4) (4) (3) Total, net in balance sheet 76 133 138 170 PSA PEUGEOT CITROËN - APPENDICES TO THE MANAGING BOARD REPORT
- Changes during the year (in millions of euros) Present value of projected benefit obligation As of January 1 2,879 Reduction in obligation following payment of single premium (384) Actuarial gain due to transfer to external funds, taken to income (13) Service cost and one-year discounting adjustment 235 Benefits paid in 2002 (105) Change in actuarial assumptions 199 Translation adjustment and other movements (86) As of December 31 A 2,725 Funded status As of January 1 2,108 Decrease in external funds following payment of part of the single premium (228) Expected return on external funds 140 Benefits paid in 2002 7 Change in fair value of external funds (300) Translation adjustment and other movements (59) As of December 31 B 1,668 Deferred items As of January 1 638 Deferred items taken to income relating to obligations covered by external funds (95) Amortization for the year (35) New deferred items for 2002 499 Translation adjustment and other movements (26) As of December 31 C 981 Balance sheet reserve As of January 1 133 Changes in scope of consolidation 1 Additions for the year 211 Payments to external funds (85) Payment of the balance of the single premium (156) Translation adjustment and other movements (28) As of December 31 D 76 - Change in supplementary pension plans The supplementary pension plans set up by the main French companies in the Group, with the exception of Automotive Equipment division entities, were amended by agreements signed with employee representatives on May 2 and May 13, 2002. Under the revised plans: - Employees born before 1943 continue to be eligible for the supplementary pension benefits payable under the original plan. - Employees born in or after 1943 are eligible for the supplementary pension benefits payable under the original plan when they retire and claim their social security pension. However, effective from June 30, 2002, they no longer acquire any new rights under the plan. The Group has taken out a group insurance policy with a licensed insurance company to cover the payment of supplementary pension benefits to these employees. Benefits will be paid out of a pension fund financed by the payment of a single premium of €384 million on behalf of all French companies. No further contributions will be made to the fund by any Group company. Part of the single premium was paid out of external funds amounting to €228 million and the balance of €156 million was paid out of the Group’s cash reserves. The related tax cost was €13 million and the additional payroll taxes payable amounted to €6 million. The payment of the single premium on June 28, 2002 had the effect of transferring to the insurance company the Group's obligations towards the employees concerned. The operation led to the immediate recognition of deferred items related to the transferred benefit obligation, representing a charge of €95 million before tax. The charge was partly offset by an actuarial gain of €13 million resulting from the transfer of the obligation to an external fund. The charge to the income statement, including the net charge of €82 million referred to above and the related income tax and payroll tax charges, was €101 million, net (see note 11). PSA PEUGEOT CITROËN - APPENDICES TO THE MANAGING BOARD REPORT 171
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2002 ANNUAL REPORT
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K ey figures Worldwide sales Automo
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Contents 2 A Tribute to Pierre Peug
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A Tribute to Pierre Peugeot Our Gro
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M essage from the Chairmen is alrea
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plan defined by the Managing Board.
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10 Growth Strategy 16 Corporate Gov
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Growth Strategy 12 • One Group, t
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Growth Strategy Corporate Governanc
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Corporate Governance 18 21 22 • T
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Business Review 30 34 44 48 52 56 O
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Corporate Policies 62 Human Resourc
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Management’s discussion and analy
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Page 123 and 124: Growth Strategy Corporate Governanc
Page 125 and 126: Statistics PSA PEUGEOT CITROËN - M
Page 135 and 136: Appendices to the Managing Board Re
Page 137 and 138: C onsolidated statements of income
Page 139 and 140: C onsolidated balance sheets - Liab
Page 141 and 142: C onsolidated statements of stockho
Page 143 and 144: ➔ Note 1 - Accounting policies Th
Page 145 and 146: No reserve is booked for taxes paya
Page 147 and 148: 2. Effect on stockholders’ equity
Page 149 and 150: Allibert’s non- automotive busine
Page 151 and 152: 2000 (in millions of euros) Automot
Page 153 and 154: ➔ Note 5 - Key financial data for
Page 155 and 156: ➔ Note 12 - Operating expenses -
Page 157 and 158: ➔ Note 15 - Intangible assets Int
Page 159 and 160: Unrealized gains on restricted stoc
Page 161 and 162: ➔ Note 21 - Inventories Inventori
Page 163 and 164: ➔ Note 25 - Short-term income tax
Page 165 and 166: g) Capital in excess of par value o
Page 167 and 168: ➔ Note 34 - Other long-term borro
Page 169 and 170: 2. Short-term portion (in millions
Page 171 and 172: ➔ Note 42 - Net financial positio
Page 173: 1. Automobile division An early-ter
Page 177 and 178: The entire debt is converted to flo
Page 179 and 180: 2. Maturities of hedging instrument
Page 181 and 182: ➔ Note 50 - Commitments and conti
Page 183 and 184: 2. Effect of debenture conversions
Page 185 and 186: F ive-year consolited statement of
Page 187 and 188: F ive-year consolidated balance she
Page 189 and 190: C onsolidated companies as at Decem
Page 191 and 192: Company Percent Percent F/E control
Page 197 and 198: Recruitments (1) 2 4 Disabled emplo
Page 199 and 200: 7 Paid leave other than vacations E
Page 201 and 202: Consumption Peugeot 607 Fuel Displa
Page 203 and 204: E nvironmental Indicators Productio
Page 205 and 206: Waste production PEUGEOT CITROËN A
Page 207 and 208: M anagement and Administration Main
Page 209 and 210: I nformation about the company’s
Page 211 and 212: S tatutory Auditors’ Report on th
Page 213 and 214: ➔ Stockholders’ Meetings (Artic
Page 215 and 216: PEUGEOT S.A. 100% AUTOMOBILES CITRO
Page 217 and 218: S tockholder Information (Euronext
Page 219 and 220: F inancial authorizations in effect
Page 221 and 222: 216 PSA PEUGEOT CITROËN - INFORMAT
Page 223 and 224: R esolutions Eighth resolution Auth
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T he Vice Presidents Committee Thie
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12,000 copies of this report were p
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