Ubisoft 2009 Annual Report Download - page 112
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108
A tax audit is underway at Ubisoft Canada Inc. for the period from April 1, 2003 to March 31, 2008. No proposed
adjustments have been received to date. Consequently, no provisions have been made in the accounts.
Note 13. Employee benefit liabilities
Opening
balance
Provisions Reversals Translation
adjustments
Closing
balance
Provisions for post-employment benefits 1,641 89 24 4 1,710
TOTAL 03.31.10 1,641 89 24 4 1,710
TOTAL 03.31.09 1,699 18 95 19 1,641
Assumptions
Japan Italy France
03.31.10 03.31.09 03.31.10 03.31.09 03.31.10 03.31.09
Wage growth 1.50% 1.50% 1.50% 1.50% 1.50 to 3% 1.50 to 3%
Discount rate 5.00% 5.20% 5.00% 5.20% 5.00% 5.20%
Average remaining working life 26 years 22 years 26 years 26 years 28.4 years 31 years
Death rate assumptions are based on published statistics and tables.
The definition and the principles for measurement and recognition of these benefit liabilities are presented in §
2.1.6.5.3 Consolidation principles – Employee benefits.
A 25 points change in the discount rate would result in a change of 5% in the amount of the benefit liability.
Note 14. Payments based on equity instruments
Impact on the financial statements:
Equity as at 03.31.09 36,948
Employee benefits expense 10,078
Stock options 8,565
Bonus share grants 613
Group employee savings plan 900
Equity instruments capitalized 8,377
Equity as at 03.31.10 55,403
The impact of these share-based payments on reserves corresponds to all equity instruments issued by Ubisoft
as at March 31, 2010 and can be seen in the statement of changes in equity presented in §2.1.4.
Stock options
The value of instruments unsettled through share issues is estimated and set at the grant date. The expense is
recognized over a four-year vesting period but is not straight-line given the vesting terms. IFRS 2 has been
applied to instruments issued after November 7, 2002 for which the rights had not been acquired as at December
31, 2004 (of the following plans, only the seventh has not been restated in accordance with IFRS 2):