Annual report 2006 - Dexia.com

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D. Provisions for pensions and other long term benefits A. Change in benefit obligation Dec. 31, 2005 Dec. 31, 2006 RAPPORT DE GESTION 1. Benefit obligation at beginning of year 2,307 2,494 2. Current service cost 106 115 3. Interest cost 101 96 4. Plan participants’ contributions 6 8 5. Amendments 2 (8) 6. Actuarial (gains)/losses 93 (164) 7. Benefits paid (118) (127) 8. Expenses paid 0 0 9. Taxes paid 0 0 10. Premiums paid (2) (3) 11. Acquisitions/divestitures 0 (92) 12. Plan curtailments (1) (2) 13. Plan settlements 0 (31) 14. Exchange rate changes 0 (4) 15. BENEFIT OBLIGATION AS OF END OF YEAR 2,494 2,282 CONSOLIDATED FINANCIAL STATEMENTS COMPTES SOCIAUX B. Change in plan assets Dec. 31, 2005 Dec. 31, 2006 1. Fair value of plan assets at beginning of year 1,492 1,588 2. Expected return on plan assets 72 68 3. Actuarial gains/(losses) on plan assets 54 (28) 4. Employer contributions 85 87 5. Member contributions 6 8 6. Benefits paid (118) (127) 7. Expenses paid 0 0 8. Taxes paid (1) 0 9. Premiums paid (2) (3) 10. Plan settlements 0 (16) 11. Acquisitions/divestitures 0 (91) 12. Exchange rate changes 0 (3) 13. FAIR VALUE OF PLAN ASSETS AS OF END OF YEAR 1,588 1,483 C. Amounts recognized in the balance sheet Dec. 31, 2005 Dec. 31, 2006 1. Present value of funded obligations 1,930 1,691 2. Fair value of plan assets 1,588 1,484 3. Deficit/(surplus) for funded plans 342 207 4. Present value of unfunded obligations 564 591 5. Unrecognized net actuarial gains/(losses) (273) (122) 6. Unrecognized past service (cost)/benefit 0 0 7. Effect of paragraph 58(b) limit 0 0 8. NET LIABILITY/(ASSET) 633 676 Amounts in the balance sheet 1. Liabilities 640 693 2. Assets (7) (17) 3. NET LIABILITY/(ASSET) 633 676 168 | Dexia / Annual Report 2006
D. Components of costs Dec. 31, 2005 Dec. 31, 2006 Amounts recognized in statement of income 1. Current service cost 106 117 2. Interest cost 101 97 3. Expected return on plan assets (72) (70) 4. Expected return on reimbursement assets 0 0 5. Amortization of past service cost incl. §58(a) 2 (8) 6. Amortization of net (gain)/loss incl. §58(a) 7 10 7. Effect of paragraph 58(b) limit 0 0 8. Curtailment (gain)/loss recognized (1) (2) 9. Settlement (gain)/loss recognized 0 (12) 10. TOTAL COSTS RECOGNIZED IN THE STATEMENT OF INCOME 143 132 Actual return on assets Actual return on plan assets 126 40 Actual return on reimbursement assets 0 0 RAPPORT DE GESTION E. Balance sheet reconciliation Dec. 31, 2005 Dec. 31, 2006 1. Balance sheet liability/(asset) 574 633 2. Expenses recognized in statement of income in the financial year 143 132 3. Amounts recognized in SORIE in the financial year 0 0 4. Employer contributions made in the financial year 63 67 5. Benefits paid directly by company in the financial year 22 20 6. Credit to reimbursements 0 0 7. Net transfer in/(out) (including the effect of any business combinations/divestitures) 1 (1) 8. Exchange rate adjustment - (gain)/loss 0 (1) 9. BALANCE SHEET LIABILITY/(ASSET) AS OF END OF YEAR (1)+(2)+(3)-(4)-(5)+(6)+(7)+(8) 633 676 F. Plan assets Asset category Percentage of Plan assets Dec. 31, 2005 Dec. 31, 2006 CONSOLIDATED FINANCIAL STATEMENTS COMPTES SOCIAUX 1. Equity securities 19.97% 18.43% 2. Debt securities 76.39% 77.66% 3. Real estate 0.00% 0.00% 4. Other (1) 3,64% 3.91% (1) Includes qualifying insurance policies. G. History of experience gains and losses Dec. 31, 2005 Dec. 31, 2006 1. Difference between the actual and expected return on plan assets a. Amount 54 (28) b. Percentage of plan assets 3% -2% 2. Total gains (-) and losses on plan liabilities (1) a. Amount 93 (164) b. Percentage of present value of plan liabilities 4% -7% (1) Due essentially to change on assumptions. Dexia / Annual Report 2006 | 169
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no achievement without commitment
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FINANCIAL HIGHLIGHTS 4 MESSAGE FROM
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FINANCIAL HIGHLIGHTS FINANCIAL HIGH
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MESSAGE FROM THE CHAIRMEN MESSAGE F
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MESSAGE FROM THE CHAIRMEN MESSAGE F
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GROUP PRESENTATION GROUP PRESENTATI
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GROUP PRESENTATION HISTORY OF THE G
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GROUP PRESENTATION MANAGEMENT REPOR
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GROUP PRESENTATION MANAGEMENT REPOR
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GROUP PRESENTATION GROUP ORGANIZATI
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GROUP PRESENTATION Group Executive
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GROUP PRESENTATION MAIN ACTIVITIES
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GROUP PRESENTATION December Opening
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CORPORATE GOVERNANCE Dexia’s comp
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CORPORATE GOVERNANCE MANAGEMENT REP
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CORPORATE GOVERNANCE NAME SPECIALIZ
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CORPORATE GOVERNANCE NAME SPECIALIZ
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CORPORATE GOVERNANCE DIRECTORS’ A
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CORPORATE GOVERNANCE THE MANAGEMEN
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CORPORATE GOVERNANCE The maximum am
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THE DEXIA SHARE MANAGEMENT REPORT C
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THE DEXIA SHARE MAIN SHAREHOLDERS O
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HUMAN RESOURCES HUMAN RESOURCES Dex
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HUMAN RESOURCES MANAGEMENT REPORT C
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HUMAN RESOURCES INITIATING AND CAS
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SUSTAINABLE DEVELOPMENT SUSTAINABLE
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RISK MANAGEMENT MANAGEMENT REPORT C
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FINANCIAL RESULTS MANAGEMENT REPORT
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FINANCIAL RESULTS to business devel
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FINANCIAL RESULTS ANALYSIS OF THE
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PUBLIC/PROJECT FINANCE MANAGEMENT R
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PUBLIC/PROJECT FINANCE WORLD LEADE
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PERSONAL FINANCIAL SERVICES MANAGEM
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ASSET MANAGEMENT MANAGEMENT REPORT
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INSURANCE SERVICES INSURANCE SERVIC
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INSURANCE SERVICES MANAGEMENT REPOR
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INVESTOR SERVICES MANAGEMENT REPORT
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TREASURY AND FINANCIAL MARKETS MANA
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GENERAL INFORMATION MANAGEMENT REPO
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CONSOLIDATED BALANCE SHEET 112 CONS
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CONSOLIDATED BALANCE SHEET ASSETS (
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CONSOLIDATED STATEMENT OF INCOME (i
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MINORITY INTERESTS Core Gains and l
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Page 122 and 123: RAPPORT DE GESTION CONSOLIDATED FIN
Page 136 and 137: 4.1.3. Currency risk 4.2. CREDIT RI
Page 140 and 141: Name Head Office % of Consolidation
Page 142 and 143: GEOGRAPHIC Eurozone (1) Rest of USA
Page 144 and 145: PORTFOLIO Number Loan Collateral Ex
Page 148 and 149: 7. NOTES ON THE ASSETS OF THE CONSO
Page 150 and 151: B. Analysis of quality See note 7.1
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Page 154 and 155: 7.8. SECURITIES HELD TO MATURITY De
Page 156 and 157: 7.10. TANGIBLE FIXED ASSETS A. Net
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Page 160 and 161: A. Other assets Analysis by nature
Page 162 and 163: Present value of finance lease liab
Page 164 and 165: 8. NOTES ON THE LIABILITIES OF THE
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Page 168 and 169: Convertible non-subordinated debt D
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Page 174 and 175: 9. OTHER NOTES ON THE CONSOLIDATED
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Page 182 and 183: 9.4. RELATED PARTIES TRANSACTIONS A
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Page 188 and 189: 9.8. SHARE-BASED PAYMENTS STOCK OPT
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Page 192 and 193: Dec. 31, 2005 Dec. 31, 2006 Banking
Page 194 and 195: 10. NOTES ON THE CONSOLIDATED OFF-B
Page 196 and 197: 11.3. NET INCOME FROM ASSOCIATES De
Page 198 and 199: 11.6. COMMISSION INCOME AND EXPENSE
Page 200 and 201: (AVERAGE FTE) France Belgium Luxemb
Page 202 and 203: 11.14. IMPAIRMENT ON GOODWILL Nil.
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Page 208 and 209: 12.3. INTEREST RATE REPRICING RISK:
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Page 214 and 215: 12.7. CURRENCY RISK As of Dec. 31,
Page 216 and 217: BALANCE SHEET 216 OFF-BALANCE SHEET
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STATEMENT OF INCOME (in thousands o
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3.2.5. Amounts receivable after mor
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4.2.6. Amounts receivable within on
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RAPPORT DE GESTION COMPTES CONSOLID
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4.6. STATEMENT OF FORMATION EXPENSE
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4.10. SHARE IN THE CAPITAL AND OTHE
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D. Commitments to issue shares Amou
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4.19. OTHER TAXES AND TAXES BORNE B
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6. SOCIAL REPORT 6.1. STATEMENT OF
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6.3. STATEMENT CONCERNING THE IMPLE
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• there have been no transactions
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DEXIA IN THE WORLD RAPPORT DE GESTI
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RAPPORT DE GESTION Kommunalkredit D
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Dexia’s Annual Report 2006 has be
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SDXI 0109-5 03-07
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Annual report 2006 - Dexia.com

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