14 – Provisions for Pensions (XLS:) XLS Assumptions used to determine the defined benefit obligation (%) Germany United States Switzerland United Kingdom June 30, 2020 December 31, 2019 June 30, 2020 December 31, 2019 June 30, 2020 December 31, 2019 June 30, 2020 December 31, 2019 Discount rate 1.30 1.10 2.40 3.10 0.30 0.20 1.70 2.20 Projected pension increase 1.50 1.50 − − − − 3.00 3.00 (XLS:) XLS Assumptions used to determine expenses for pension benefits (From January 1 to June 30 of the respective year in %) Germany United States Switzerland United Kingdom 2020 2019 2020 2019 2020 2019 2020 2019 Discount rate 1.10 1.70 3.10 4.10 0.20 0.90 2.20 2.90 Projected pension increase 1.50 1.50 − − − − 3.00 3.10 The assumptions used to determine the defined benefit obligation as of December 31, 2019, are used in the 2020 fiscal year to determine the expenses for pension plans. The standardized return on plan assets is calculated by multiplying plan assets at the beginning of the year with the discount rate used for existing defined benefit obligations at the beginning of the year, taking into account benefit and contribution payments to be made during the year. A slight increase in the discount rate in Switzerland and in the eurozone, and a significant decrease in the United States and in the United Kingdom led to actuarial gains on pension obligations totaling €293 million in the first half of 2020. Including the deviation between the actual return on plan assets and the standardized return on plan assets, negative remeasurement effects totaled €243 million. These were recognized in other comprehensive income (OCI), taking into account deferred taxes of €38 million. Overall, pension provisions rose by €188 million compared with December 31, 2019. back next