FINANCIAL AND ACCOUNTING INFORMATION In Canada, defined benefit pension plans mainly The Executives’ Plan is a final average earnings include: defined benefit registered plan. The SERP has two The Employees’ Plan which is a registered plan and provisions: the first provides benefit in excess of • the limits of the Executives’ Plan and the second has both defined benefit and defined contribution portion provides a term annuity upon retirement provisions. The defined benefit provision of the based on a notional account. plan has a career average type formula. This plan was closed to new entrants on January 1, 2000. A ful l actuarialvaluation of Canadian plans is The Executives’Pension Plan and theperformed every three years. The most recent • valuations were performed as at December 31, 2016. Supplementary Executives’ Retirement PlanThe 2017 quantitative information on these plans (“SERP”) which provide retirees with a pension was prepared based on a roll forward of these full based on a percentage of their prior earnings. valuations. 21.2 Employee Benefit Plan information The change in the present value of the obligation in respect of defined benefit plans is as follows: DEFINED BENEFIT OBLIGATIONS (in millions of euros) UNITED KINGDOM CANADA SWITZERLAND OTHER GROUP As of January 1, 2016 527.3 240.5 232.1 204.3 1,204.2 Service cost – 2.5 7.6 6.0 16.1 Interest cost 16.3 9.6 1.8 4.9 32.5 Benefit payments (14.1) (12.2) (7.2) (9.2) (42.7) Employee contributions – 0.5 3.7 0.1 4.2 Change in consolidation scope – – – 0.8 0.8 Currency translation adjustment (78.2) 15.8 2.1 1.5 (58.7) Past service cost / settlement and other – (5.9) – (11.3) (17.2) Remeasurements Effect of change in demographic assumptions – – 0.1 – 0.1 Effect of change in financial assumptions 75.5 8.7 (1.6) 4.4 87.1 Effect of experience adjustments (6.8) (0.5) (1.5) (3.6) (12.5) As of December 31, 2016 519.9 259.0 237.2 197.9 1,214.0 Service cost – 2.5 7.4 5.8 15.6 Interest cost 13.8 8.8 1.1 4.1 27.8 Benefit payments (15.3) (12.2) (5.8) (9.6) (42.9) Employee contributions – 0.5 3.6 0.4 4.5 Change in consolidation scope – – – 13.4 13.4 Currency translation adjustment (18.3) (14.8) (20.2) (4.2) (57.5) Past service cost / settlement and other – – (2.9) – (2.9) Remeasurements Effect of change in demographic assumptions – (6.0) – (0.8) (6.8) Effect of change in financial assumptions 22.9 13.9 – 5.4 42.2 Effect of experience adjustments (10.1) (3.0) 10.6 (3.8) (6.3) As of December 31, 2017 512.9 248.8 231.0 208.5 1,201.2 The change in the fair value of the defined benefit plan assets breaks down as follows: REXEL 2017 – REGISTRATION DOCUMENT 248