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PENSIONS AND OTHER POST-EMPLOYMENT BENEFIT OBLIGATIONS (Tables) | 6 Months Ended
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Jun. 30, 2020
Disclosure of employee benefits [Abstract] |
Schedule of Actuarial Assumptions | Pension and other post-employment benefit obligations were updated based on the discount rates applicable at June 30, 2020.
|  | At June 30, 2020 |  | At December 31, 2019
Switzerland |  | 0.20% |  | 0.15%
US |  |  |  |
Hourly pension |  | 2.70% - 2.85% |  | 3.15% - 3.25%
Salaried pension |  | 2.75% |  | 3.25%
OPEB |  | 2.70% - 3.00% |  | 3.20% - 3.40%
Other benefits |  | 2.45% - 2.75% |  | 3.00% - 3.20%
France |  |  |  |
Retirements |  | 0.95% |  | 0.95%
Other benefits |  | 0.85% |  | 0.80%
Germany |  | 1.05% |  | 1.00%
Schedule of the Consolidated Statement of Financial Position |
|  | At June 30, 2020 |  | At December 31, 2019
(in millions of Euros) |  | Pension Benefits |  | Other Benefits |  | Total |  | Pension Benefits |  | Other Benefits |  | Total
Present value of funded obligation |  | 789 |  |  | — |  |  | 789 |  |  | 768 |  |  | — |  |  | 768 |
Fair value of plan assets |  | (435 | ) |  | — |  |  | (435 | ) |  | (445 | ) |  | — |  |  | (445 | )
Deficit of funded plans |  | 354 |  |  | — |  |  | 354 |  |  | 323 |  |  | — |  |  | 323 |
Present value of unfunded obligation |  | 131 |  |  | 230 |  |  | 361 |  |  | 127 |  |  | 220 |  |  | 347 |
Net liability arising from defined benefit obligation |  | 485 |  |  | 230 |  |  | 715 |  |  | 450 |  |  | 220 |  |  | 670 |
Schedule of Amounts Recognised In Unaudited Interim Income Statement |
|  | Three months ended June 30, 2020 |  | Three months ended June 30, 2019
(in millions of Euros) |  | Pension Benefits |  | Other Benefits |  | Total |  | Pension Benefits |  | Other Benefits |  | Total
Service cost |  |  |  |  |  |  |  |  |  |  |  |
Current service cost |  | (5 | ) |  | (1 | ) |  | (6 | ) |  | (5 | ) |  | (1 | ) |  | (6 | )
Past service cost |  | — |  |  | (2 | ) |  | (2 | ) |  | — |  |  | — |  |  | — |
Net interest |  | (2 | ) |  | (1 | ) |  | (3 | ) |  | (2 | ) |  | (2 | ) |  | (4 | )
Immediate recognition of gains / (losses) arising over the period |  | — |  |  | (1 | ) |  | (1 | ) |  | — |  |  | (2 | ) |  | (2 | )
Administration expenses |  | (1 | ) |  | — |  |  | (1 | ) |  | — |  |  | — |  |  | — |
Total |  | (8 | ) |  | (5 | ) |  | (13 | ) |  | (7 | ) |  | (5 | ) |  | (12 | )
|  | Six months ended June 30, 2020 |  | Six months ended June 30, 2019
(in millions of Euros) |  | Pension Benefits |  | Other Benefits |  | Total |  | Pension Benefits |  | Other Benefits |  | Total
Service cost |  |  |  |  |  |  |  |  |  |  |  |
Current service cost |  | (11 | ) |  | (3 | ) |  | (14 | ) |  | (9 | ) |  | (3 | ) |  | (12 | )
Past service cost |  | — |  |  | (2 | ) |  | (2 | ) |  | — |  |  | — |  |  | — |
Net interest |  | (3 | ) |  | (3 | ) |  | (6 | ) |  | (4 | ) |  | (4 | ) |  | (8 | )
Immediate recognition of gains / (losses) arising over the period |  | — |  |  | — |  |  | — |  |  | — |  |  | (2 | ) |  | (2 | )
Administration expenses |  | (1 | ) |  | — |  |  | (1 | ) |  | (1 | ) |  | — |  |  | (1 | )
Total |  | (15 | ) |  | (8 | ) |  | (23 | ) |  | (14 | ) |  | (9 | ) |  | (23 | )
Schedule of Movement in Net Defined Benefit Obligations |
|  | At June 30, 2020
|  | Defined benefit obligations |  | Plan Assets |  | Net defined benefit liability
(in millions of Euros) |  | Pension benefits |  | Other benefits |  | Total |
At January 1, 2020 |  | 895 |  |  | 220 |  |  | 1,115 |  |  | (445 | ) |  | 670 |
Included in the Unaudited Interim Consolidated Income Statement |  |  |  |  |  |  |  |  |  |
Current service cost |  | 11 |  |  | 3 |  |  | 14 |  |  | — |  |  | 14 |
Interest cost / (income) |  | 7 |  |  | 3 |  |  | 10 |  |  | (4 | ) |  | 6 |
Past service cost |  | — |  |  | 2 |  |  | 2 |  |  | — |  |  | 2 |
Immediate recognition of gains / (losses) arising over the year |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Administration expenses |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 1 |
Included in the Unaudited Interim Consolidated Statement of Comprehensive Income / (Loss) |  |  |  |  |  |  |  |  |  |
Remeasurements due to: |  |  |  |  |  |  |  |  |  |
—actual return less interest on plan assets |  | — |  |  | — |  |  | — |  |  | 13 |  |  | 13 |
—changes in financial assumptions |  | 16 |  |  | 11 |  |  | 27 |  |  | — |  |  | 27 |
—changes in demographic assumptions |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
—experience losses |  | 1 |  |  | (1 | ) |  | — |  |  | — |  |  | — |
Effects of changes in foreign exchange rates |  | 6 |  |  | 1 |  |  | 7 |  |  | (5 | ) |  | 2 |
Included in the Unaudited Interim Consolidated Statement of Cash Flows |  |  |  |  |  |  |  |  |  |
Benefits paid |  | (18 | ) |  | (9 | ) |  | (27 | ) |  | 17 |  |  | (10 | )
Contributions by the Group |  | — |  |  | — |  |  | — |  |  | (10 | ) |  | (10 | )
Contributions by the plan participants |  | 2 |  |  | — |  |  | 2 |  |  | (2 | ) |  | — |
At June 30, 2020 |  | 920 |  |  | 230 |  |  | 1,150 |  |  | (435 | ) |  | 715 |
Schedule of Net Defined Benefit Obligations by Country |
|  | At June 30, 2020 |  | At December 31, 2019
(in millions of Euros) |  | Defined benefit obligations |  | Plan assets |  | Net defined benefit liability |  | Defined benefit obligations |  | Plan assets |  | Net defined benefit liability
France |  | 164 |  |  | (3 | ) |  | 161 |  |  | 161 |  |  | (3 | ) |  | 158 |
Germany |  | 140 |  |  | (1 | ) |  | 139 |  |  | 144 |  |  | (1 | ) |  | 143 |
Switzerland |  | 303 |  |  | (213 | ) |  | 90 |  |  | 299 |  |  | (214 | ) |  | 85 |
United States |  | 542 |  |  | (218 | ) |  | 324 |  |  | 510 |  |  | (227 | ) |  | 283 |
Other countries |  | 1 |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | 1 |
Total |  | 1,150 |  |  | (435 | ) |  | 715 |  |  | 1,115 |  |  | (445 | ) |  | 670 |

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