| December 31, 2024 | December 31, 2023 | |||||
|---|---|---|---|---|---|---|
| (in millions of euros) | Pension | Medical | Total | Pension | Medical | Total |
| Cost of services rendered during the year | (29) | - | (29) | (21) | - | (21) |
| Financial expenses | (8) | (1) | (9) | (9) | (1) | (10) |
| Defined benefit plan expense | (37) | (1) | (38) | (30) | (1) | (31) |
| Cost of other plans (including defined contribution plans) and other benefits | (218) | - | (218) | (203) | - | (203) |
| Administrative fees excluding plan management fees | (6) | - | (6) | (5) | - | (5) |
| Total retirement costs recognized in the income statement | (261) | (1) | (262) | (238) | (1) | (239) |
| of which personnel costs (see note 5) | (254) | - | (254) | (229) | - | (229) |
| of which financial result | (7) | (1) | (8) | (9) | (1) | (10) |
The table below provides a breakdown of plans by asset type and by fair value hierarchy. The various fair value hierarchy levels are defined in Note 29.
| December 31, 2024 | December 31, 2023 | |||||||
|---|---|---|---|---|---|---|---|---|
| (in millions of euros) | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total |
| Shares | 26 | - | - | 26 | 26 | - | - | 26 |
| Bonds | - | 63 | - | 63 | - | 93 | - | 93 |
| Treasury bonds | - | 35 | - | 35 | - | 119 | - | 119 |
| Real Estate | - | - | 1 | 1 | - | - | 1 | 1 |
| Other | 46 | - | 220 | 266 | 52 | - | 115 | 167 |
| Total | 72 | 98 | 221 | 391 | 78 | 212 | 116 | 406 |
| (in millions of euros) | Pension plans | Medical | Total |
|---|---|---|---|
| Estimated employer contribution for 2025 |
Estimated employer contribution for 2025 Pension plans (34) |
Estimated employer contribution for 2025 Medical (1) |
Estimated employer contribution for 2025 Total (35) |
| (in millions of euros) | Pension plans | Medical | Total |
|---|---|---|---|
| Estimated future benefits payable | |||
| 2025 |
2025 Pension plans 58 |
2025 Medical 1 |
2025 Total 59 |
| 2026 |
2026 Pension plans 53 |
2026 Medical 1 |
2026 Total 54 |
| 2027 |
2027 Pension plans 50 |
2027 Medical 1 |
2027 Total 51 |
| 2028 |
2028 Pension plans 47 |
2028 Medical 1 |
2028 Total 48 |
| 2029 |
2029 Pension plans 43 |
2029 Medical 1 |
2029 Total 44 |
| Financial years 2030 to 2033 |
Financial years 2030 to 2033 Pension plans 215 |
Financial years 2030 to 2033 Medical 7 |
Financial years 2030 to 2033 Total 222 |
| Total over the next 10 financial years |
Total over the next 10 financial years Pension plans 466 |
Total over the next 10 financial years Medical 12 |
Total over the next 10 financial years Total 478 |
The average duration of plans at end-December 2024 was 9 years.
