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EMPLOYEE BENEFITS (Tables) | 12 Months Ended
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Dec. 31, 2022
Employee benefits [Abstract] |
Group's provision for employee benefits | The Group’s provisions for employee benefits are as follows:
| At December 31,
| 2022 |  | 2021
| (€ thousand)
Present value of defined benefit obligations: |  |  |
Italian employee severance indemnity (TFR) | 15,142 |  |  | 18,430 |
Total present value of defined benefit obligations | 15,142 |  |  | 18,430 |
Other provisions for employees | 95,665 |  |  | 82,770 |
Total provisions for employee benefits | 110,807 |  |  | 101,200 |
Disclosure of defined benefit plans | The following table summarizes the changes in the defined benefit obligations:
| TFR liability |  | Pension plans |  | Total
| (€ thousand)
Amounts at December 31, 2020 | 19,825 |  |  | 105 |  |  | 19,930 |
Recognized in the consolidated income statement | 6 |  |  | — |  |  | 6 |
Recognized in other comprehensive loss/(income) (*) | 463 |  |  | — |  |  | 463 |
Other | (1,864) |  |  | (105) |  |  | (1,969) |
Benefits paid | (2,127) |  |  | (105) |  |  | (2,232) |
Other changes | 263 |  |  | — |  |  | 263 |
Amounts at December 31, 2021 | 18,430 |  |  | — |  |  | 18,430 |
Recognized in the consolidated income statement | 22 |  |  | — |  |  | 22 |
Recognized in other comprehensive income/(loss)(*) | (1,605) |  |  | — |  |  | (1,605) |
Other | (1,705) |  |  | — |  |  | (1,705) |
Benefits paid | (1,731) |  |  | — |  |  | (1,731) |
Other changes | 26 |  |  | — |  |  | 26 |
Amounts at December 31, 2022 | 15,142 |  |  | — |  |  | 15,142 |
______________________________ (*) Relates to actuarial losses/(gains) from financial assumptions. The expected future benefit payments for the defined benefit obligations as of December 31, 2022 are as follows:
|  | TFR
|  | (€ thousand)
2023 |  | 1,740 |
2024 |  | 1,448 |
2025 |  | 1,458 |
2026 |  | 1,402 |
2027 |  | 1,518 |
2028 - 2032 |  | 6,019 |
Total |  | 13,585 |
Disclosure of amounts recognized in the consolidated income statement | Amounts recognized in the consolidated income statement are as follows:
| For the years ended December 31,
| 2022 |  | 2021 |  | 2020
| TFR |  | Pension plans |  | Total |  | TFR |  | Pension plans |  | Total |  | TFR |  | Pension plans |  | Total
| (€ thousand)
Current service cost | — |  |  | — |  |  | — |  |  | 6 |  |  | — |  |  | 6 |  |  | — |  |  | — |  |  | — |
Interest expense | 22 |  |  | — |  |  | 22 |  |  | — |  |  | — |  |  | — |  |  | 25 |  |  | — |  |  | 25 |
Past service adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total recognized in the consolidated income statement | 22 |  |  | — |  |  | 22 |  |  | 6 |  |  | — |  |  | 6 |  |  | 25 |  |  | — |  |  | 25 |
Disclosure of the sensitivity of defined benefit plan to changes in principle assumptions | The sensitivity of the defined benefit obligations to changes in the weighted principal assumptions is:
| At December 31,
| 2022 |  | 2021
| Changes in assumption of +1% discount rate |  | Changes in assumption of -1% discount rate |  | Changes in assumption of +1% discount rate |  | Changes in assumption of -1% discount rate
| (€ thousand)
Impact on defined benefit obligation | (904) |  |  | 1,013 |  | (1,321) |  |  | 1,507

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- Definition The disclosure of defined benefit plans. [Refer: Defined benefit plans [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2022-03-24 -Paragraph 138 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=19&code=ifrs-tx-2022-en-r&anchor=para_138&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition The disclosure of a sensitivity analysis for significant actuarial assumptions used to determine the present value of a defined benefit obligation. [Refer: Actuarial assumptions [member]; Defined benefit obligation, at present value] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2022-03-24 -Paragraph 145 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=19&code=ifrs-tx-2022-en-r&anchor=para_145&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition Schedule of Provisions for Employee Benefits [Table Text Block] + References No definition available. + Details
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