2019 Universal registration document and annual financial report - BNP PARIBAS228
4 Consolidated finanCial statements for the year ended 31 deCemBer 2019
4
Notes to the financial statements
Obligations under defined-benefit plans and other post-employment benefits
➤ ASSETS AND LIABILITIES RECOGNISED ON THE BALANCE SHEET
In millions of euros, at 31 December 2019
Defined- benefit
obligation arising from
wholly or partially
funded plans
Defined- benefit
obligation arising from
unfunded plans
Present value of
defined- benefit
obligation Fair value of plan assets
Fair value of reimburse-
ment rights(1)
Effect of asset
ceiling Net
obligation
of which asset recognised in
the balance sheet for defined-
benefit plans
of which net assets of defined-
benefit plans
of which fair value of reimburse-
ment rights
of which obligation
recognised in the balance
sheet for defined-
benefit plans
Belgium 3,208 23 3,231 (113) (3,001) 117 (3,001) (3,001) 3,118
UK 1,737 1 1,738 (2,010) (272) (277) (277) 5
France 1,189 95 1,284 (1,195) 89 (77) (77) 166
Switzerland 1,230 2 1,232 (1,120) 5 117 117
USA 588 85 673 (549) 124 124
Italy 307 307 307 307
Germany 136 70 206 (114) 92 92
Turkey 146 29 175 (397) 250 28 28
Others 542 50 592 (411) (1) 180 (4) (3) (1) 184
TOTAL 8,776 662 9,438 (5,909) (3,002) 255 782 (3,359) (357) (3,002) 4,141
In millions of euros, at 31 December 2018
Defined- benefit
obligation arising from
wholly or partially
funded plans
Defined- benefit
obligation arising from
unfunded plans
Present value of
defined- benefit
obligation Fair value of plan assets
Fair value of reimburse-
ment rights(1)
Effect of asset
ceiling Net
obligation
of which asset recognised in
the balance sheet for defined-
benefit plans
of which net assets of defined-
benefit plans
of which fair value of reimburse-
ment rights
of which obligation
recognised in the balance
sheet for defined-
benefit plans
Belgium 3,049 21 3,070 (93) (2,838) 139 (2,838) (2,838) 2,977
UK 1,488 1 1,489 (1,716) (227) (234) (234) 7
France 1,193 106 1,299 (1,201) 98 (61) (61) 159
Switzerland 1,090 9 1,099 (976) 123 123
USA 538 77 615 (510) 105 105
Italy 357 357 357 357
Germany 121 60 181 (108) 73 73
Turkey 140 29 169 (366) 226 29 29
Others 503 41 544 (381) (1) 162 (6) (5) (1) 168
TOTAL 8,122 701 8,823 (5,351) (2,839) 226 859 (3,139) (300) (2,839) 3,998 (1) The reimbursement rights are principally found on the balance sheet of the Group s insurance subsidiaries and associated companies notably AG
Insurance with respect to BNP Paribas Fortis defined-benefit plan to hedge their commitments to other Group entities that were transferred to them to cover the post-employment benefits of certain employee categories.
