Boskalis Annual Report 2020

119

119

Interest rates, remaining terms and currencies of the interest-bearing borrowings are disclosed in the explanatory notes to the financial instruments in the interest rate risk paragraph (see note 29.1.3). As at 31 December 2020 the weighted average interest rate for the non-current portion of the interest bearing loans was 3.18% (2019: 3.32%). The non-current portion of interest-bearing borrowings due after more than five years amounted to EUR 53.5 million (2019: nil). 25. EMPLOYEE BENEFITS The liabilities associated with employee benefits consist of liabilities related to defined benefit pension plans and other liabilities relating to a number of defined contribution plans in the Netherlands and other countries as well as jubilee benefits. They amounted to a total of:

31 DECEMBER

2019

2020

Note

Defined benefit pension plans

39,523

43,093

[25.1]

Other liabilities on account of employee benefits Liabilities associated with employee benefits

7,052

7,098

46,575

50,191

DEFINED BENEFIT PENSION PLANS

CHARGED TO CONSOLIDATED STATEMENT OF

DEFINED BENEFIT OBLIGATION

UNFUNDED PENSION LIABILITIES

OTHER COMPREHENSIVE INCOME

FAIR VALUE PLAN ASSETS

SURPLUS/ DEFICIT (-)

PROFIT OR LOSS

TOTAL

109,071

74,601

- 34,470

- 4,785

- 39,255

Balance as at 1 January 2020

Current service expenses

366

- -

- 366

- 72 - 42

- 438

438

Interest expenses on obligation Net-contributions from the Group

1,240

- 1,240

- 1,282

1,282

- -

- 359

- 359

- -

- 359

Return on plan assets Net actuarial results

992

992

992

- 992

8,340 - 958

5,346 - 958

- 2,994

- 279

- 3,273

3,273

Benefits paid

-

292

292

Foreign currency exchange rate differences and other changes

- 596 8,392

- 366 4,655

230

-

230

- 3,737

- 101

- 3,838

728

3,273

Total movement

117,463

79,256

- 38,207

- 4,886

- 43,093

Balance as at 31 December 2020

Limitation on net plan assets as at 1 January Movement in limitation net plan assets Limitation on net plan assets as at 31 December

- 268

268

- 268

-

- 43,093

Balance as at 31 December 2020 after limits on net plan assets

Total result defined benefit pension plans

3,733

728

3,005

ANNUAL REPORT 2020 – BOSKALIS A NUAL REPORT 2020 -- BOSKALIS