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Non-Current Provisions
 12 Months Ended
Dec. 31, 2017
Text block1 [abstract]  
Non-Current Provisions

Note 12: Non-Current Provisions

 

     December 31,  
     2015      2016      2017  
     (thousands of euros)  

Pension retirement obligations

      490        853        1,260  
  

 

 

     

 

 

     

 

 

  

Total

      490        853        1,260  
  

 

 

     

 

 

     

 

 

  

Commitments for Compensation Payable to Employees Upon Their Retirement

 

     thousands of
Euros		  

As of January 1, 2015

      (531 ) 

Costs of services rendered (operating expense)

      (116 ) 

Interest expense (finance expense)

      (9 ) 

Benefit paid

   

Actuarial gains

      166  
  

 

 

  

As of December 31, 2015

      (490 ) 
  

 

 

  

Costs of services rendered (operating expense)

      (104 ) 

Interest expense (finance expense)

      (10 ) 

Benefit paid

      —    

Actuarial losses

      (249 ) 
  

 

 

  

As of December 31, 2016

      (853 ) 
  

 

 

  

Costs of services rendered (operating expense)

      (219 ) 

Interest expense (finance expense)

      (11 ) 

Benefit paid

      —    

Actuarial losses

      (177 ) 
  

 

 

  

As of December 31, 2017

      (1,260 ) 
  

 

 

  

 

As part of the estimation of the retirement commitments, the following assumptions were used for all categories of employees:

 

     December 31,  
     2015     2016     2017  

% social security contributions

      50.0 %      50.0 %      50.0 % 

Salary increases

      2.0 %      2.0 %      2.0 % 

Discount rate

      2.08 %      1.31 %      1.30 % 

Assumptions for the years ended December 31, 2015 and 2016:

 

  •   Retirement age: 65 years old;

 

  •   Terms of retirement: voluntary retirement;

 

  •   Life table: INSEE 2010;

 

  •   Collective agreement: Convention Collective Nationale de l’Industrie Pharmaceutique (National Collective Agreement in the Pharmaceutical Industry);

 

  •   Turn-over of the personnel declining with age.

Assumptions for the years ended December 31, 2017:

 

  •   Retirement age: 65 years old;

 

  •   Terms of retirement: voluntary retirement;

 

  •   Life table: TGH05-TGF05;

 

  •   Collective agreement: Convention Collective Nationale de l’Industrie Pharmaceutique (National Collective Agreement in the Pharmaceutical Industry);

 

  •   Turn-over of the personnel declining with age.

The discount rates come from the corporate AA zero coupon yield curve.

No employee has retired during the last three fiscal years presented.