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Friday, February 19, 2016
Employee defined benefit plans
Year ended December 31, 2014
Benefit obligation Fair value of plan
assets
Net (provision)/asset
recorded in the
statement of financial
position
(in millions of euros) Note (A) (B) (B)-(A)
Opening balance 966 356 (610)
Current service cost 20 (20)
Past service cost (26) 26
(Gains)/losses on settlements - (1) (1)
Other - - -
Impact on selling, administrative and general expenses 5
Interest cost 33 (33)
Expected return on plan assets 12 12
Impact on other financial charges and income (21)
Net benefit cost recognized in profit and loss (16)
Experience gains/(losses) (a) - 24 24
Actuarial gains/(losses) related to changes in demographic assumptions (7) 7
Actuarial gains/(losses) related to changes in financial assumptions 122 (122)
Adjustment related to asset ceiling - - -
Actuarial gains/(losses) recognized in other comprehensive income (91)
Contributions by plan participants 1 1 -
Contributions by employers 43 43
Benefits paid by the fund (18) (18) -
Benefits paid by the employer (36) (36) -
Business combinations 1 - (1)
Divestitures of businesses (d) (102) - 102
Transfers - - -
Other (of which foreign currency translation adjustments) 51 23 (28)
Closing balance 1,005 404 (601)
of which wholly or partly funded benefits 558
wholly unfunded benefits (b) 447
of which assets related to employee benefit plans 7
provisions for employee benefit plans (c) 16 (608)
a. Included the impact on the benefit obligation resulting from the difference between actuarial assumptions at the previous year-end and
effective benefits during the year, and the difference between the expected return on plan assets at the previous year-end and the
actual return on plan assets during the year.
b. In accordance with local laws and practices, certain plans are not covered by plan assets. As of December 31, 2015 and
December 31, 2014, such plans principally comprised supplementary pension plans in the United States, pension plans in Germany and
post-retirement benefit plans in the United States.
c. Included a current liability of €62 million as of December 31, 2015 (compared to €48 million as of December 31, 2014).
d. Related to the impact of the sale of SFR on November 27, 2014.
Financial Report and Audited Consolidated Financial Statements for the year ended December 31, 2015 Vivendi /77