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Pensions and Other Post-employment Benefit Obligations | 6 Months Ended
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Jun. 30, 2018
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Pensions and Other Post-employment Benefit Obligations | NOTE 20 - PENSIONS AND OTHER POST-EMPLOYMENT BENEFIT OBLIGATIONS 20.1 Actuarial assumptions Pension and other post-employment benefit obligations were updated based on the discount rates applicable at June 30, 2018.
|  | At June 30, 2018 |  | At December 31, 2017
Switzerland |  | 0.80% |  | 0.65%
U.S. |  | — |  | —
Hourly pension |  | 4.30%-4.35% |  | 3.70%-3.75%
Salaried pension |  | 4.35% |  | 3.80%
OPEB |  | 4.30%-4.40% |  | 3.70%-3.85%
Other benefits |  | 4.20%-4.30% |  | 3.60%-3.70%
France |  | — |  | —
Retirements |  | 1.60% |  | 1.50%
Other benefits |  | 1.30% |  | 1.20%
Germany |  | 1.60% |  | 1.60%
20.2 Amounts recognized in the Unaudited Interim Consolidated Statement of Financial Position
|  | At June 30, 2018 |  |  | At December 31, 2017 |
(in millions of Euros) |  | Pension Benefits |  |  | Other Benefits |  |  | Total |  |  | Pension Benefits |  |  | Other Benefits |  |  | Total |
Present value of funded obligation |  |  | 676 |  |  |  | — |  |  |  | 676 |  |  |  | 691 |  |  |  | — |  |  |  | 691 |
Fair value of plan assets |  |  | (387 | ) |  |  | — |  |  |  | (387 | ) |  |  | (387 | ) |  |  | — |  |  |  | (387 | )
Deficit of funded plans |  |  | 289 |  |  |  | — |  |  |  | 289 |  |  |  | 304 |  |  |  | — |  |  |  | 304 |
Present value of unfunded obligation |  |  | 112 |  |  |  | 242 |  |  |  | 354 |  |  |  | 110 |  |  |  | 250 |  |  |  | 360 |
Net liability arising from defined benefit obligation |  |  | 401 |  |  |  | 242 |  |  |  | 643 |  |  |  | 414 |  |  |  | 250 |  |  |  | 664 |
20.3 Amounts recognized in the Unaudited Interim Consolidated Income Statement
|  | Three months ended June 30, 2018 |  |  | Three months ended June 30, 2017 |
(in millions of Euros) |  | Pension Benefits |  |  | Other Benefits |  |  | Total |  |  | Pension Benefits |  |  | Other Benefits |  |  | Total |
Service cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current service cost |  |  | (3 | ) |  |  | (2 | ) |  |  | (5 | ) |  |  | (4 | ) |  |  | (3 | ) |  |  | (7 | )
Past service cost |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net interest |  |  | (2 | ) |  |  | (2 | ) |  |  | (4 | ) |  |  | (2 | ) |  |  | (2 | ) |  |  | (4 | )
Immediate recognition of gains / (losses) arising over the period |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Administrative expenses |  |  | (1 | ) |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | — |
Total |  |  | (6 | ) |  |  | (4 | ) |  |  | (10 | ) |  |  | (6 | ) |  |  | (5 | ) |  |  | (11 | )
|  | Six months ended June 30, 2018 |  |  | Six months ended June 30, 2017 |
(in millions of Euros) |  | Pension Benefits |  |  | Other Benefits |  |  | Total |  |  | Pension Benefits |  |  | Other Benefits |  |  | Total |
Service cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current service cost |  |  | (8 | ) |  |  | (3 | ) |  |  | (11 | ) |  |  | (9 | ) |  |  | (4 | ) |  |  | (13 | )
Past service cost |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 18 |  |  |  | 4 |  |  |  | 22 |
Net interest |  |  | (4 | ) |  |  | (4 | ) |  |  | (8 | ) |  |  | (4 | ) |  |  | (5 | ) |  |  | (9 | )
Immediate recognition of gains / (losses) arising over the period |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Administrative expenses |  |  | (1 | ) |  |  | — |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |  |  | (1 | )
Total |  |  | (13 | ) |  |  | (7 | ) |  |  | (20 | ) |  |  | 4 |  |  |  | (5 | ) |  |  | (1 | )
20.4 Movement in net defined benefit obligations
|  | At June 30, 2018 |
|  | Defined benefit obligations |  |  | Plan Assets |  |  | Net defined benefit liability |
(In millions of Euros) |  | Pension benefits |  |  | Other benefits |  |  | Total |  |  |
At January 1, 2018 |  |  | 801 |  |  |  | 250 |  |  |  | 1,051 |  |  |  | (387 | ) |  |  | 664 |
Included in the Consolidated Income Statement |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current service cost |  |  | 8 |  |  |  | 3 |  |  |  | 11 |  |  |  | — |  |  |  | 11 |
Interest cost / (income) |  |  | 8 |  |  |  | 4 |  |  |  | 12 |  |  |  | (4 | ) |  |  | 8 |
Immediate recognition of gains / (losses) arising over the year |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Administration expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 1 |
Included in the Statement of Comprehensive Income / (Loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Remeasurements due to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- actual return less interest on plan assets |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9 |  |  |  | 9 |
- changes in financial assumptions |  |  | (28 | ) |  |  | (14 | ) |  |  | (42 | ) |  |  | — |  |  |  | (42 | )
- changes in demographic assumptions |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
- experience losses |  |  | 3 |  |  |  | 2 |  |  |  | 5 |  |  |  | — |  |  |  | 5 |
Effects of changes in foreign exchange rates |  |  | 10 |  |  |  | 6 |  |  |  | 16 |  |  |  | (8 | ) |  |  | 8 |
Included in the Consolidated Statement of Cash Flows |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Benefits paid |  |  | (15 | ) |  |  | (10 | ) |  |  | (25 | ) |  |  | 14 |  |  |  | (11 | )
Contributions by the Group |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (10 | ) |  |  | (10 | )
Contributions by the employees |  |  | 2 |  |  |  | — |  |  |  | 2 |  |  |  | (2 | ) |  |  | — |
At June 30, 2018 |  |  | 789 |  |  |  | 241 |  |  |  | 1,030 |  |  |  | (387 | ) |  |  | 643 |
20.5 Net defined benefit obligations by country
|  | At June 30, 2018 |  |  | At December 31, 2017 |
(in millions of Euros) |  | Defined benefit obligations |  |  | Plan assets |  |  | Net defined benefit liability |  |  | Defined benefit obligations |  |  | Plan assets |  |  | Net defined benefit liability |
France |  |  | 149 |  |  |  | (3 | ) |  |  | 146 |  |  |  | 148 |  |  |  | (3 | ) |  |  | 145 |
Germany |  |  | 139 |  |  |  | (1 | ) |  |  | 138 |  |  |  | 142 |  |  |  | (1 | ) |  |  | 141 |
Switzerland |  |  | 250 |  |  |  | (179 | ) |  |  | 71 |  |  |  | 251 |  |  |  | (177 | ) |  |  | 74 |
United States |  |  | 491 |  |  |  | (204 | ) |  |  | 287 |  |  |  | 509 |  |  |  | (206 | ) |  |  | 303 |
Other countries |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  |  | 1 |  |  |  | — |  |  |  | 1 |
Total |  |  | 1,030 |  |  |  | (387 | ) |  |  | 643 |  |  |  | 1,051 |  |  |  | (387 | ) |  |  | 664 |

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- Definition Disclosure of pension and other post employment benefit expense. + References No definition available. + Details
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- Definition Text Block [Abstract] + References No definition available. + Details
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