- Note 1 Accounting principles
- Note 2 Critical accounting estimates and judgements
- Note 3 Segment information
- Note 4 Acquisitions and disposals
- Note 5 Other operating income and expense
- Note 6 Personnel expenses
- Note 7 Board and executive remuneration
- Note 8 Net financial items
- Note 9 Income taxes
- Note 10 Depreciation, amortisation and impairment charges
- Note 11 Intangible assets and property, plant and equipment
- Note 12 Biological assets
- Note 13 Equity accounted investments
- Note 14 Available-for-sale investments
- Note 15 Other non-current assets
- Note 16 Inventories
- Note 17 Receivables
- Note 18 Shareholders’ equity
- Note 19 Non-controlling interests
- Note 20 Post-employment benefits
- Note 21 Employee variable compensation and equity incentive schemes
- Note 22 Other provisions
- Note 23 Operative liabilities
- Note 24 Financial risk management
- Note 25 Fair values
- Note 26 Debt
- Note 27 Derivatives
- Note 28 Cumulative translation adjustment and equity hedging
- Note 29 Commitments and contingencies
- Note 30 Principal subsidiaries and joint operations
- Note 31 Related party transactions
- Note 32 Earnings per share and equity per share
Note 6 Personnel expenses
|Year Ended 31 December|
|Defined benefit plans||13||12|
|Defined contribution plans||153||153|
The average number of employees in 2017 amounted to 26 206 compared with 26 269 in 2016. Pension costs are discussed further in Note 20 Post-employment benefits.
In 2017, the expense of the share-based remuneration was EUR 10 (EUR 6) million. The expense of share-based remuneration net of Total Return Swaps (TRS) in 2017 amounted to EUR 8 (0) million. This was due to the increase in the Stora Enso R share price from EUR 10.21 at 31 December 2016 to EUR 13.22 by 31 December 2017 and an income of EUR 2 (EUR 6) million was recorded in respect to TRS.
The Group may hedge its share awards programme by using (TRS) shown under personnel costs alongside the share awards expenses they relate to, so that both the risk and the result from the hedging of that risk appear in the same section of the Income Statement. The TRS are not designated under hedge accounting.
Share-based remuneration comprising of share awards and related hedges are described in more detail in Note 21 Employee variable compensation and equity incentive schemes.
Remuneration of the Group Leadership Team and Board are described in Note 7 Board and executive remuneration.