MONCLER ANNUAL REPORT AT 31 DECEMBER 2020CONSOLIDATED FINANCIAL STATEMENTS 117116

5.13. NON-CURRENT PROVISIONS

Provision changes are shown in the following table:

The caption other non current contingencies includes costs for restoring stores, costs associated with ongoing disputes and product warranty costs.

5.14. PENSION FUNDS AND AGENTS LEAVING INDEMNITIES

The changes in the funds are depicted in the following table:

The pension funds pertain mainly to the Italian entities of the Group. Following the recent welfare reform, beginning on 1 Jan- uary 2007, the liability has taken the form of a defined contribution plan. Therefore, the amount of pension fund (TFR) accrued prior to the application of the reform and not yet paid to the employees as at the date of the Consolidated Financial Statements is considered as a defined benefit plan, changes in which are shown in the following table:

Provision for contingencies and losses (Euro/000) 1 January 2020 Increase Decrease

Translation differences

Other movements 31 December 2020

Other non current contingencies (10,703) (3,819) 1,334 313 (74) (12,949)

Total (10,703) (3,819) 1,334 313 (74) (12,949)

Provision for contingencies and losses (Euro/000) 1 January 2019 Increase Decrease

Translation differences

Other movements 31 December 2019

Other non current contingencies (7,477) (2,342) 2,740 (96) (3,528) (10,703)

Total (7,477) (2,342) 2,740 (96) (3,528) (10,703)

Employees pension funds (Euro/000) 1 January 2020 Increase Decrease

Translation differences

Other movements 31 December 2020

Pension funds (3,878) (897) 279 42 (174) (4,628)

Agents leaving indemnities (2,558) 0 0 0 0 (2,558)

Total (6,436) (897) 279 42 (174) (7,186)

Employees pension funds (Euro/000) 1 January 2019 Increase Decrease

Translation differences

Other movements 31 December 2019

Pension funds (3,404) (640) 320 12 (166) (3,878)

Agents leaving indemnities (2,558) 0 0 0 0 (2,558)

Total (5,962) (640) 320 12 (166) (6,436)

Employees pension funds - movements (Euro/000) 31 December 2020 31 December 2019

Net recognized liability - opening (2,479) (2,341)

Discontinued operations

Interest costs (20) (37)

Service costs (425) (337)

Payments 83 320

Actuarial Gains/(Losses) (174) (84)

Net recognized liability - closing (3,015) (2,479)