APC 2004 Annual Report Download - page 124

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122
(All amounts in thousands of euros
unless otherwise specified)
Accounting principles
The financial statements for the year ended
December 31, 2004 have been prepared in accor-
dance with French generally accepted accounting
principles.
Significant events of the year
1. Share cancellation
On December 9, 2004, Schneider Electric SA can-
celled 7 million shares held in treasury, thereby reduc-
ing shareholders' equity by 347.1 million (56 mil-
lion from capital stock and 291.1 million from addi-
tional paid-in capital).
Note 1: Non-current assets
Non-current assets are stated at cost.
1.a. Intangible assets
Intangible rights are amortized over a maximum of
five years.
1.b. Property, plant and equipment
The 913 thousand net decrease in the cost of prop-
erty, plant and equipment breaks down as follows:
Additions 6
Disposals (919)
Accumulated depreciation decreased by 537 thou-
sand, corresponding to depreciation for the year of
36 thousand less depreciation written off on dispos-
als in the amount of 573 thousand.
Property, plant and equipment are depreciated by the
straight-line method over their estimated useful lives,
ranging from 3 to 10 years.
Note 2: Investments
Cost at Increases Decreases Cost at
January 1 December 31,
2004 2004
Shares in subsidiaries and affiliates 1,912,976.5 15,041.3 (9,641.8) 1,918,376.0
Other investment securities 241,996.4 283,917.6 (350,210.4) 175,703.6
Advances to subsidiaries and affiliates 2,013,120.8 1,607,028.5 (646,958.6) 2,973,190.7
Other 159,164.4 30,757.2 (0.3) 189,921.3
Total 4,327,258.1 1,936,744.6 (1,006,811.1) 5,257,191.6
3
Notes to the Financial Statements
of Schneider Electric SA