Fluctuations during 2021, 2020 and 2019 are set out below:
| € millions | Present value of defined benefit obligation | Plan assets | Net provisions |
|---|---|---|---|
| Balance at 31 December 2018 | Balance at 31 December 2018Present value of defined benefit obligation4,144.4 | Balance at 31 December 2018Plan assets-3,755.5 | Balance at 31 December 2018Net provisions388.9 |
| Service cost during the period | Service cost during the period Present value of defined benefit obligation168.8 |
Service cost during the period Plan assets- |
Service cost during the period Net provisions168.8 |
| Interest cost | Interest cost Present value of defined benefit obligation111.8 |
Interest cost Plan assets- |
Interest cost Net provisions111.8 |
| Expected return on assets | Expected return on assets Present value of defined benefit obligation- |
Expected return on assets Plan assets-99.5 |
Expected return on assets Net provisions-99.5 |
| Past service cost: new plans/plan amendments | Past service cost: new plans/ plan amendmentsPresent value of defined benefit obligation72.9 |
Past service cost: new plans/ plan amendmentsPlan assets- |
Past service cost: new plans/ plan amendmentsNet provisions72.9 |
| Curtailments | Curtailments Present value of defined benefit obligation-100.3 |
Curtailments Plan assets- |
Curtailments Net provisions-100.3 |
| Settlements | Settlements Present value of defined benefit obligation- |
Settlements Plan assets- |
Settlements Net provisions- |
| Benefits paid | Benefits paid Present value of defined benefit obligation-198.4 |
Benefits paid Plan assets151.9 |
Benefits paid Net provisions-46.5 |
| Contributions paid | Contributions paid Present value of defined benefit obligation6.3 |
Contributions paid Plan assets-58.9 |
Contributions paid Net provisions-52.6 |
| Actuarial gains and losses | Actuarial gains and losses Present value of defined benefit obligation706.6 |
Actuarial gains and losses Plan assets-378.9 |
Actuarial gains and losses Net provisions327.7 |
| Translation differences | Translation differences Present value of defined benefit obligation67.9 |
Translation differences Plan assets-66.3 |
Translation differences Net provisions1.6 |
| Other movements | Other movements Present value of defined benefit obligation-5.3 |
Other movements Plan assets5.6 |
Other movements Net provisions0.3 |
| Balance at 31 December 2019 | Balance at 31 December 2019Present value of defined benefit obligation4,974.5 | Balance at 31 December 2019Plan assets-4,201.6 | Balance at 31 December 2019Net provisions772.9 |
| Service cost during the period | Service cost during the period Present value of defined benefit obligation201.2 |
Service cost during the period Plan assets- |
Service cost during the period Net provisions201.2 |
| Interest cost | Interest cost Present value of defined benefit obligation80.0 |
Interest cost Plan assets- |
Interest cost Net provisions80.0 |
| Expected return on assets | Expected return on assets Present value of defined benefit obligation- |
Expected return on assets Plan assets-66.7 |
Expected return on assets Net provisions-66.7 |
| Past service cost: new plans/plan amendments | Past service cost: new plans/plan amendments Present value of defined benefit obligation-12.7 |
Past service cost: new plans/plan amendments Plan assets- |
Past service cost: new plans/plan amendments Net provisions-12.7 |
| Curtailments | Curtailments Present value of defined benefit obligation-21.2 |
Curtailments Plan assets- |
Curtailments Net provisions-21.2 |
| Settlements | Settlements Present value of defined benefit obligation-1.0 |
Settlements Plan assets1.1 |
Settlements Net provisions0.2 |
| Benefits paid | Benefits paid Present value of defined benefit obligation-227.7 |
Benefits paid Plan assets161.9 |
Benefits paid Net provisions-65.9 |
| Contributions paid | Contributions paid Present value of defined benefit obligation4.1 |
Contributions paid Plan assets-85.3 |
Contributions paid Net provisions-81.3 |
| Actuarial gains and losses | Actuarial gains and losses Present value of defined benefit obligation483.1 |
Actuarial gains and losses Plan assets-257.5 |
Actuarial gains and losses Net provisions225.6 |
| Translation differences | Translation differences Present value of defined benefit obligation-167.0 |
Translation differences Plan assets139.8 |
Translation differences Net provisions-27.2 |
| Other movements | Other movements Present value of defined benefit obligation5.1 |
Other movements Plan assets3.3 |
Other movements Net provisions8.4 |
| Balance at 31 December 2020 | Balance at 31 December 2020Present value of defined benefit obligation5,318.4 | Balance at 31 December 2020Plan assets-4,305.0 | Balance at 31 December 2020Net provisions1,013.5 |
| Service cost during the period | Service cost during the period Present value of defined benefit obligation221.9 |
Service cost during the period Plan assets- |
Service cost during the period Net provisions221.9 |
| Interest cost | Interest cost Present value of defined benefit obligation60.5 |
Interest cost Plan assets- |
Interest cost Net provisions60.5 |
| Expected return on assets | Expected return on assets Present value of defined benefit obligation- |
Expected return on assets Plan assets-50.4 |
Expected return on assets Net provisions-50.4 |
| Past service cost: new plans/ plan amendments | Past service cost: new plans/ plan amendmentsPresent value of defined benefit obligation-10.0 |
Past service cost: new plans/ plan amendmentsPlan assets- |
Past service cost: new plans/ plan amendmentsNet provisions-10.0 |
| Curtailments | Curtailments Present value of defined benefit obligation-16.7 |
Curtailments Plan assets- |
Curtailments Net provisions-16.7 |
| Settlements | Settlements Present value of defined benefit obligation1.1 |
Settlements Plan assets- |
Settlements Net provisions1.1 |
| Benefits paid | Benefits paid Present value of defined benefit obligation-221.6 |
Benefits paid Plan assets174.7 |
Benefits paid Net provisions-46.9 |
| Contributions paid | Contributions paid Present value of defined benefit obligation6.4 |
Contributions paid Plan assets-101.1 |
Contributions paid Net provisions-94.6 |
| Actuarial gains and losses | Actuarial gains and losses Present value of defined benefit obligation-329.9 |
Actuarial gains and losses Plan assets-255.2 |
Actuarial gains and losses Net provisions-585.2 |
| Translation differences | Translation differences Present value of defined benefit obligation159.0 |
Translation differences Plan assets-151.4 |
Translation differences Net provisions7.5 |
| Other movements(1) | Other movements (1)Present value of defined benefit obligation-141.9 |
Other movements (1)Plan assets1.8 |
Other movements (1)Net provisions-140.0 |
| BALANCE AT 31 DECEMBER 2021 | BALANCE AT 31 DECEMBER 2021 Present value of defined benefit obligation5,047.2 |
BALANCE AT 31 DECEMBER 2021 Plan assets-4,686.6 |
BALANCE AT 31 DECEMBER 2021 Net provisions360.6 |
(1) Including -€137.4million pertaining to the IFRIC 2021 interpretation on IAS 19 "Employee Benefits" on Attributing Benefit to Periods of Service.
The total present value of defined benefit obligations breaks down as follows between wholly or partly funded plans and wholly unfunded plans:
| € millions | 31.12.2021 | 31.12.2020 | 31.12.2019 |
|---|---|---|---|
| Present value of defined benefit obligations wholly or partly funded | Present value of defined benefit obligations wholly or partly funded 31.12.20214,635.0 |
Present value of defined benefit obligations wholly or partly funded 31.12.20204,832.5 |
Present value of defined benefit obligations wholly or partly funded 31.12.20194,507.6 |
| Fair value of plan assets | Fair value of plan assets 31.12.20214,686.6 |
Fair value of plan assets 31.12.20204,304.9 |
Fair value of plan assets 31.12.20194,201.6 |
| Net position of defined benefit obligations wholly or partly funded | Net position of defined benefit obligations wholly or partly funded 31.12.2021-51.6 |
Net position of defined benefit obligations wholly or partly funded 31.12.2020527.6 |
Net position of defined benefit obligations wholly or partly funded 31.12.2019306.1 |
| Present value of defined benefit obligations wholly unfunded | Present value of defined benefit obligations wholly unfunded31.12.2021 412.2 |
Present value of defined benefit obligations wholly unfunded31.12.2020 485.9 |
Present value of defined benefit obligations wholly unfunded31.12.2019 466.9 |
