APC 2002 Annual Report Download - page 44

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43
Additional information on contractual obligations, commitments and raw material hedging contracts
Contractual obligations at December 31, 2002
Less than 1 to 2 3 to 4 Beyond
(millions) Total 1 year years years 4 years
Long-term debt,
including current portion (1) 1,797 73.2 1,077.8 113.1 532.9
Short-term debt (1) 573 573
Total minimum payments required
under operating leases (2) 325.6 78.1 73.2 54.3 120.0
Irrevocable purchase commitments (3)
Other long-term commitments (4) 45.7 – 45.7 – –
(1) Long and short-term debt is presented as shown in Note 17 to the Consolidated Financial Statements.
(2) Total minimum payments required under operating leases are presented in Note 5.3 to the Consolidated Financial Statements.
(3) Not applicable. As a general rule, supply contracts do not include any firm commitments concerning minimum volumes or value.
(4) Firm commitment to buy Infra+ shares representing the 61.50% of the capital not held by Schneider Electric.
Off balance sheet commitments at December 31, 2002
(millions) Total
Contract counterguarantees (1) 203,7
Letters of credit (2) 74,4
(1) Contract counterguarantees granted to customers totaled 203.7 million versus 225.7 million at December 31, 2001. A reserve for contingencies
is recorded when the risk of a claim is considered probable.
(2) Letters of credit represent a guarantee, governed by certain conditions, that a customer will fulfill its commitments towards a third party. Virtually all
letters of credit in issue expire in less than one year.
Raw material hedging contracts
Fair value at December 31, 2002 Less than 1 to 2 3 to 4 Beyond
(millions) Total 1 year years years 4 years
Prices obtained from external sources (1) (7.9) (7.9)
Fair value determined according to
other valuation techniques Néant
(1) Fair value of contracts in force at January 1 was (24.2 million).