2019 Universal registration document and annual financial report - BNP PARIBAS 229
4Consolidated finanCial statements for the year ended 31 deCemBer 2019
4
Notes to the financial statements
➤ CHANGE IN THE PRESENT VALUE OF THE DEFINED-BENEFIT OBLIGATION
In millions of euros Year to
31 Dec. 2019 Year to
31 Dec. 2018
PRESENT VALUE OF DEFINED-BENEFIT OBLIGATION AT START OF PERIOD 8,823 9,571
Current service cost 229 236
Interest cost 158 136
Past service cost (1) (17)
Settlements (11) (32)
Actuarial (gains)/losses on change in demographic assumptions (56) (36)
Actuarial (gains)/losses on change in financial assumptions 655 (400)
Actuarial (gains)/losses on experience gaps 9 50
Actual employee contributions 24 24
Benefits paid directly by the employer (140) (110)
Benefits paid from assets/reimbursement rights (377) (455)
Exchange rate (gains)/losses on obligation 140 (11)
(Gains)/losses on obligation related to changes in the consolidation scope (15) (133)
PRESENT VALUE OF DEFINED-BENEFIT OBLIGATION AT END OF PERIOD 9,438 8,823
➤ CHANGE IN THE FAIR VALUE OF PLAN ASSETS AND REIMBURSEMENT RIGHTS
In millions of euros
Plan assets Reimbursement rights
Year to 31 Dec. 2019
Year to 31 Dec. 2018
Year to 31 Dec. 2019
Year to 31 Dec. 2018
FAIR VALUE OF ASSETS AT START OF PERIOD 5,351 5,574 2,839 2,931
Expected return on assets 145 103 34 27
Settlements (3) (50)
Actuarial gains/(losses) on assets 439 (56) 168 (64)
Actual employee contributions 14 14 10 10
Employer contributions 63 142 115 141
Benefits paid from assets (211) (248) (166) (206)
Exchange rate gains/(losses) on assets 127 (67) Gains/(losses) on assets related to changes in the consolidation scope (16) (61) 2
FAIR VALUE OF ASSETS AT END OF PERIOD 5,909 5,351 3,002 2,839
➤ COMPONENTS OF THE COST OF DEFINED-BENEFIT PLANS
In millions of euros Year to
31 Dec. 2019 Year to
31 Dec. 2018
Service costs 220 237
Current service cost 229 236
Past service cost (1) (17)
Settlements (8) 18
Net financial expense 14 19
Interest cost 158 136
Interest income on plan asset 35 13
Interest income on reimbursement rights (145) (103)
Expected return on asset ceiling (34) (27)
TOTAL RECOGNISED IN SALARY AND EMPLOYEE BENEFIT EXPENSE 234 256
