LISI GROUP - 2018 Financial report

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ThegeographicbreakdownoftheGroup’scommitmentstostaffasatDecember31,2018fordefinedbenefitplansandthemainassumptionsemployed
in their assessment are as follows:
In thousands of euros France Germany USA England Other
Actuarial debt 32,638 7,778 328 23,937 2,189
Discount rate 1.55% 1.80% 4.25% 2.91% 4.00%
Reference used I Boxx euro zone
12 years
Extrapolation cased
on the ECB 15-year
AAA rate curve
Citigroup Pension
Discount Curve rate
I Boxx AA-rated
15 years +0.3%
Inflation - Wage increase 2.00% 1.50% NA 3.44% NA
AspertherevisedIAS19standard,therateofreturnonnon-currentfunds
is identical to the discount rate for actuarial liability. The rates of return
thusemployedareequalto4.25%forAmericaninsuranceplansand2.91%
for English ones.
AtDecember31,2018,theallocationoftheplanassetswasapproximately
35% in equities and 65% in bonds for England.
The following table sets out the changes, during financial year 2018, in the actuarial debt and the market value of the hedging assets (in millions of
euros):
Change in actuarial debt 2018 2017
Actuarial debt at year start 63,500 63,117
Cost of services 2,139 2,075
Cost of accretion 1,545 1,414
Benefits paid (2,729) (2,527)
Past-service costs 658 0
Change in consolidation scope (3) (130)
Translation differences (878) (1,383)
Actuarial losses (gains) 2,635 934
Actuarial debt at year end 66,869 63,500
Change in market value of hedging assets 2018 2017
Opening value 24,755 23,645
Contributions paid by the Group 282 285
Benefits withheld from fund (752) (578)
Expected yield from assets 658 670
Translation differences (190) (853)
Actuarial gains (losses) (1,421) 1,585
Value at year-end 23,332 24,755
The following table shows the reconciliation of amounts recognized in the Group’s consolidated financial statements and the above sums:
In thousands of euros 12/31/2018 12/31/2017
Liabilities recognized at year-end (43,537) (38,745)