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, 2025 | December 31, 2024 | |||||||
|---|---|---|---|---|---|---|---|---|
| (in millions of euros) | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total |
| Shares | 22 | - | - | 22 | 26 | - | - | 26 |
| Bonds | - | 59 | - | 59 | - | 63 | - | 63 |
| Treasury bonds | - | 27 | - | 27 | - | 35 | - | 35 |
| Real Estate | - | - | 1 | 1 | - | - | 1 | 1 |
| Other | 50 | - | 221 | 271 | 46 | - | 220 | 266 |
| Total | 72 | 86 | 222 | 380 | 72 | 98 | 221 | 391 |
| (in millions of euros) | Pension plans | Medical | Total |
|---|---|---|---|
| Estimated employer contribution for 2026 |
Estimated employer contribution for 2026 Pension plans (31) |
Estimated employer contribution for 2026 Medical (1) |
Estimated employer contribution for 2026 Total (32) |
| (in millions of euros) | Pension plans | Medical | Total |
|---|---|---|---|
| Estimated future benefits payable |
Estimated future benefits payablePension plans
|
Estimated future benefits payableMedical
|
Estimated future benefits payableTotal
|
| 2026 |
2026 Pension plans56 |
2026 Medical1 |
2026 Total57 |
| 2027 |
2027 Pension plans50 |
2027 Medical1 |
2027 Total51 |
| 2028 |
2028 Pension plans46 |
2028 Medical1 |
2028 Total47 |
| 2029 |
2029 Pension plans42 |
2029 Medical1 |
2029 Total43 |
| 2030 |
2030 Pension plans42 |
2030 Medical1 |
2030 Total43 |
| Financial years 2031 to 2034 |
Financial years 2031 to 2034 Pension plans200 |
Financial years 2031 to 2034 Medical4 |
Financial years 2031 to 2034 Total204 |
| Total over the next 10 financial years |
Total over the next 10 financial years Pension plans436 |
Total over the next 10 financial years Medical9 |
Total over the next 10 financial years Total445 |
The average duration of plans at end-December 2025 was 9 years.
