Plastic Omnium - 2020 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS 2020 Consolidated financial statements at December 31, 2020 PLASTIC OMNIUM UNIVERSAL REGISTRATION DOCUMENT 2020 239 CHANGES IN BALANCE SHEET COMMITMENTS AND BENEFIT COSTS CORRESPONDING TO DEFINED-BENEFIT PLANS 5.2.5.2 The balance sheet amounts for these benefits are as follows: In thousands of euros Post-employment benefit plans Other long-term benefits Total Dec. 31, 2020 Dec. 31, 2019 Dec. 31, 2018 Dec. 31, 2020 Dec. 31, 2019 Dec. 31, 2018 Dec. 31, 2020 Dec. 31, 2019 Dec. 31, 2018 Projected benefit obligation at January 1 172,547 154,484 154,399 3,691 3,233 4,323 176,238 157,717 158,722 Service cost 6,857 8,055 9,560 285 272 232 7,142 8,327 9,792 Interest cost 2,980 4,016 3,846 15 66 46 2,995 4,082 3,892 Curtailments, settlements and other (2,409) (14,160) - - - - (2,409) (14,160) - Actuarial gains and losses 9,835 21,839 (4,801) - 433 (117) 9,835 22,272 (4,918) Of which, experience adjustments (1,042) 58 2,009 (158) 71 (74) (1,200) 129 1,935 Benefits paid from plan assets (786) (1,685) (979) 5 5 5 (781) (1,680) (974) Benefits paid by the Company (4,792) (1,501) (700) (180) (327) (121) (4,972) (1,828) (821) Change in scope - - - - - (0) - - (0) Consolidation of “Modules” - - 964 - - - - - 964 IFRS 5 Reclassifications - - (11,421) - - (1,157) - - (12,578) Translation adjustment (7,832) 1,499 3,616 (48) 9 23 (7,880) 1,508 3,639 Projected benefit obligation at December 31 176,400 172,547 154,484 3,768 3,691 3,233 180,168 176,238 157,717 Change in projected benefit obligation 3,853 18,063 85 77 458 (1,090) 3,930 18,521 (1,005) Fair value of plan assets at January 1 68,568 52,533 52,206 - - - 68,568 52,533 52,206 Return on plan assets 1,546 1,787 1,581 - - - 1,546 1,787 1,581 Employer contributions 11,711 7,727 1,179 - - - 11,711 7,727 1,179 Actuarial gains and losses 5,966 6,740 (2,480) 209 - - 6,175 6,740 (2,480) Benefit payments funded by plan assets (3,355) (845) (829) - - - (3,355) (845) (829) IFRS 5 Reclassifications - - (707) - - - - - (707) Translation adjustment (4,808) 624 1,583 - - - (4,808) 624 1,583 Fair value of plan assets at December 31 79,628 68,568 52,533 209 - - 79,837 68,568 52,533 Change in fair value of plan assets 11,060 16,035 327 209 - - 11,269 16,035 327 EXCESS OF PROJECTED BENEFIT OBLIGATION OVER PLAN ASSETS = NET PROVISION RECORDED IN THE BALANCE SHEET 96,772 103,979 101,951 3,559 3,691 3,233 100,331 107,670 105,184 of which France 47,473 48,064 43,372 2,252 2,270 2,283 49,725 50,334 45,655 of which Europe excluding France 10,651 12,069 9,303 747 750 428 11,398 12,819 9,731 of which United States 25,458 31,257 38,296 560 670 522 26,018 31,927 38,818 of which other regions 13,190 12,589 10,980 - - - 13,190 12,589 10,980 The present value of partially hedged commitments amounted to €121,220 thousand at December 31, 2020, including €17,351 thousand for French plans and €81,166 thousand the United States plans. At December 31, 2019, it amounted to €117,067 thousand, including €16,363 thousand for France and €77,977 thousand for the United States plans. In 2020 obligation of the employer and excluded that of the insurer. However, this plan retains its nature as a “defined contribution” plan similar to a “defined benefit” plan because of the underlying guarantee on the returns on the contributions paid. The change in the valuation method had an impact of -€1.6 thousand on the total Belgian commitment recognized in actuarial gains and losses under the “Other income items”. At December 31, 2020, the Group reviewed the valuation methods of one of the Belgian plans, which only excluded in the pension plan, the residual In 2020 and in 2019 The increase in the value of commitments is due to the decrease of discount rates in the two regions of Europe and United States.