11.2 Changes in liabilities related to future employee benefits programs
in PLN millions, unless otherwise stated
| Total liabilities | Jubilee awards | Retirement and disability benefits | Coal equivalent | Other benefits | ||
|---|---|---|---|---|---|---|
| As at 1 January 2021 | 3 169 | 585 | 485 | 1 966 | 133 | |
| Note 11.1 | Total costs recognised in profit or loss | 140 | 25 | 39 | 66 | 10 |
| Interest costs | 41 | 7 | 6 | 26 | 2 | |
| Current service costs | 128 | 47 | 33 | 40 | 8 | |
| Actuarial gains recognised in profit or loss | (29) | (29) | – | – | – | |
| Note 8.2.2 | Actuarial gains recognised in other comprehensive income | (694) | – | (45) | (628) | (21) |
| Benefits paid | (147) | (58) | (37) | (50) | (2) | |
| As at 31 December 2021, of which: | 2 468 | 552 | 442 | 1 354 | 120 | |
| recognised in liabilities related to disposal group | 1 | – | 1 | – | – | |
| recognised as “employee benefits liabilities” | 2 467 | 552 | 441 | 1 354 | 120 | |
| Note 11.1 | Total costs recognised in profit or loss | 179 | 52 | 44 | 72 | 11 |
| Interest costs | 88 | 19 | 16 | 49 | 4 | |
| Current service costs | 98 | 40 | 28 | 23 | 7 | |
| Actuarial gains recognised in profit or loss | (7) | (7) | – | – | – | |
| Note 8.2.2 | Actuarial (gains)/losses recognised in other comprehensive income | 422 | – | (20) | 480 | (38) |
| Benefits paid | (175) | (68) | (33) | (70) | (4) | |
| Changes due to loss of control of subsidiaries | (1) | – | (1) | – | – | |
| As at 31 December 2022, of which: | 2 893 | 536 | 432 | 1 836 | 89 | |
| recognised in liabilities related to disposal group | – | – | – | – | – | |
| recognised as “employee benefits liabilities” | 2 893 | 536 | 432 | 1 836 | 89 |
| As at 31 December | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|
| Present value of liabilities due to employee benefits | 2 893 | 2 468 | 3 169 | 2 770 | 2 618 |
Main actuarial assumptions (of the Parent Entity) adopted for measurement as at 31 December 2022:
| 2023 | 2024 | 2025 | 2026 | 2027 and beyond | |
|---|---|---|---|---|---|
| – discount rate | 6.75% | 6.75% | 6.75% | 6.75% | 6.75% |
| – coal price growth rate* | 87.90% | 5.90% | 3.50% | 2.50% | 2.50% |
| – rate of growth of the lowest salary | 19.60% | 5.70% | 5.00% | 4.00% | 4.00% |
| – expected inflation | 13.10% | 5.90% | 3.50% | 2.50% | 2.50% |
| – future expected increase in salary | 16.00% | 9.00% | 5.00% | 4.00% | 4.00% |
* The increase in coal prices in 2023 was presented as an average for all Divisions of the Parent Entity. At the end of 2022, coal prices in individual Divisions which are the basis for setting the benefit ranged from 996.60 PLN/t to 1 792.00 PLN/t. In 2023 there will be an adjustment of coal prices to a uniform level of 2 150 PLN/t, and in 2024 and subsequent years the coal price growth rate was adopted at the level of expected inflation.
Main actuarial assumptions (of the Parent Entity) adopted for measurement as at 31 December 2021:
| 2022 | 2023 | 2024 | 2025 | 2026 and beyond | |
|---|---|---|---|---|---|
| – discount rate | 3.60% | 3.60% | 3.60% | 3.60% | 3.60% |
| – coal price growth rate* | 10.00% | 3.60% | 2.50% | 2.50% | 2.50% |
| – rate of growth of the lowest salary | 7.50% | 5.10% | 4.00% | 4.00% | 4.00% |
| – expected inflation | 7.60% | 3.60% | 2.50% | 2.50% | 2.50% |
| – future expected increase in salary | 8.00% | 6.50% | 4.00% | 4.00% | 4.00% |
* At the end of 2021, coal prices in individual Divisions of the Parent Entity which are the basis for setting the coal benefit ranged from 887.95 PLN/t to 983.60 PLN/t. In 2022 an assumption of a 10% increase in coal prices was adopted, and in 2023 and subsequent years the coal price growth rate was adopted at the level of expected inflation.
The change in actuarial gains/losses was caused by a change in the assumptions in respect of the increase in the discount rate, the increase in coal prices and future expected increase in salary.
For purposes of reassessment of the liabilities at the end of the current period, the parameters assumed were based on available forecasts of inflation, analysis of coal prices rates and of the lowest salary rates, and also based on the anticipated profitability of long-term treasury bonds.
Actuarial gains/losses as at 31 December 2022 versus assumptions adopted as at 31 December 2021
| Change in financial assumptions | (7) |
| Change in demographic assumptions | ( 40) |
| Other changes | 462 |
| Total actuarial (gains)/losses | 415 |
Actuarial gains/losses as at 31 December 2021 versus assumptions adopted as at 31 December 2020
| Change in financial assumptions | ( 713) |
| Change in demographic assumptions | ( 111) |
| Other changes | 101 |
| Total actuarial (gains)/losses | ( 723) |
Maturity profile of future employee benefits liabilities
| Year of maturity: | Total liabilities | Jubilee awards | Retirement and disability benefits | Coal equivalent | Other benefits |
|---|---|---|---|---|---|
| 2023 | 272 | 68 | 64 | 129 | 11 |
| 2024 | 251 | 54 | 63 | 129 | 5 |
| 2025 | 198 | 48 | 22 | 123 | 5 |
| 2026 | 189 | 44 | 26 | 114 | 5 |
| 2027 | 173 | 42 | 21 | 105 | 5 |
| Other years | 1 810 | 282 | 234 | 1 236 | 58 |
| Total liabilities in the statement of financial position as at 31 December 2022 | 2 893 | 538 | 430 | 1 836 | 89 |
Maturity profile of future employee benefits liabilities
| Year of maturity: | Total liabilities | Jubilee awards | Retirement and disability benefits | Coal equivalent | Other benefits |
|---|---|---|---|---|---|
| 2022 | 161 | 57 | 39 | 55 | 10 |
| 2023 | 191 | 52 | 69 | 66 | 4 |
| 2024 | 129 | 41 | 20 | 64 | 4 |
| 2025 | 126 | 41 | 20 | 60 | 5 |
| 2026 | 125 | 39 | 24 | 57 | 5 |
| Pozostałe lata | 1 736 | 324 | 270 | 1 052 | 90 |
| Total liabilities in the statement of financial position as at 31 December 2021 | 2 468 | 554 | 442 | 1 354 | 118 |