XML 83 R69.htm IDEA: XBRL DOCUMENT

Employees' leaving entitlement (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Information About Defined Benefit Plans [Abstract]

Summary of Changes to Employees' Leaving Entitlement

Changes to employees’ leaving entitlement occurring during 2020 and 2019 are analysed as follows:

	31/12/20			31/12/19
Balance at beginning of year		16,121			17,181
Current service cost		95			111
Interest expense		123			253
Benefits paid		(396	)		(2,039	)
Actuarial losses		212			615
Reclassification to liabilities directly related to assets held for sale		(408	)		—
Balance at end of year		15,747			16,121

Summary of Assumptions Used in Determining Present Value of Defined Benefit Obligation Related to Employee Benefit Obligation

The principal assumptions used in determining the present value of such defined benefit obligation (“DBO”) related to the employee benefit obligation are reported as follows:

	31/12/20	31/12/19
Annual discount rate	0.34%	0.77%
Annual future salary increase rate	0.80%	0.00%
Annual inflation rate	0.80%	1.20%
Annual DBO increase rate	2.10%	2.400%
Mortality	RG48 mortality tables published by the General State Accounting
Inability	National Institute for Social Security tables, by age and sex
Retirement	100% upon achievement of AGO requisites
Annual frequency of turnover	4.00%	4.00%
Annual frequency of DBO advances	2.00%	2.00%

Summary of Quantitative Sensitivity Analysis for Significant Assumptions

A quantitative sensitivity analysis for significant assumptions impacting the DBO as at December 31, 2020 and 2019 is reported as follows:

	31/12/20			31/12/19
+1% on turnover rate		(115	)		(111	)
-1% on turnover rate		127			123
+0.25% on annual inflation rate		218			231
-0.25% on annual inflation rate		(214	)		(227	)
+0.25% on annual discount rate		(340	)		(360	)
-0.25% on annual discount rate		352			373

Schedule of Expected Payments or Contributions to Defined Benefit Plan

The following are the expected payments of the employees’ leaving entitlement in future years:

	31/12/20		31/12/19
Within 1 year		1,193		1,203
Between 2 and 5 years		3,782		3,704