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EMPLOYEE BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2023
Employee benefits [Abstract]  
Group's provision for employee benefits
The Group’s provisions for employee benefits are as follows:
At December 31,
20232022
(€ thousand)
Present value of defined benefit obligations:
Italian employee severance indemnity (TFR)13,903 15,142 
Total present value of defined benefit obligations13,903 15,142 
Other provisions for employees109,142 95,665 
Total provisions for employee benefits123,045 110,807 
Disclosure of defined benefit plans
The following table summarizes the changes in the defined benefit obligations relating to the TFR liability:
Total
Amounts at December 31, 202118,430 
Included in the consolidated income statement22 
Included in other comprehensive income/loss (*)(1,605)
Other(1,705)
   Benefits paid(1,731)
   Other changes26 
Amounts at December 31, 202215,142 
Included in the consolidated income statement518 
Included in other comprehensive income/loss (*)(221)
Other(1,536)
   Benefits paid(1,536)
   Other changes— 
Amounts at December 31, 202313,903 
______________________________
(*) Relates to actuarial losses/(gains) from financial assumptions.
The expected future benefit payments for the defined benefit obligations as of December 31, 2023 are as follows:

TFR
(€ thousand)
20241,464 
20251,507 
20261,451 
20271,647 
20281,214 
2029 - 20335,826 
Total13,109 
Disclosure of amounts recognized in the consolidated income statement
Amounts recognized in the consolidated income statement relating to the TFR liability are as follows:
For the years ended December 31,
202320222021
(€ thousand)
Current service cost — — 6 
Interest expense 518 22 — 
Total recognized in the consolidated income statement 518 22 6 
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,
20232022
 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(778)868(904)1,013