| (in millions of euro) | |
|---|---|
| Exceptional amortization | Exceptional amortization
15 |
| (in millions of euro) | |
|---|---|
| Employee profit-sharing | Employee profit-sharing
— |
| Other non-deductible provisions | Other non-deductible provisions
18 |
The future tax asset related to this unrealized tax difference was 0.5 million euro, calculated at a rate of 25.83%.
Sodexo S.A. is required to pay benefits to retiring employees on the terms stipulated in a Company-wide collective agreement. The amount of the commitment has been calculated on the basis of rights vested at the balance sheet date, taking into account assumptions about final salary, discount rates and employee turnover.
This commitment, which is not recognized as a liability in the balance sheet, was estimated at 6million euro as of August 31, 2021
Commitments related to a supplemental pension plan were estimated using the projected unit credit method based on final salary and net of funding for the plan. These commitments, amounting to 2 million euro as of August 31, 2021, are not recognized in the financial statements.
The new retirement plan implemented in 2021 is not the subject of any provision in the balance sheet apart from the insurance premium to be paid and does not generate an off-balance sheet commitment, the pensions being paid directly by the insurer.
Directors fees paid to Board members during the fiscal year represented less than 1 million euro (refer to section 6.5.3).
A rectification proposal – known as an interruptive prescription – concerning Fiscal 2017 was received by Sodexo S.A. in June 2021. The Company believes, after having taken advice from its tax advisers, to have solid arguments to contest the proposed increases.
