APC 2004 Annual Report Download - page 126
Download and view the complete annual report
Please find page 126 of the 2004 APC annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116 -
117 -
118 -
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130 -
131 -
132 -
133 -
134 -
135 -
136 -
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
 |
 |
124
Note 4: Other receivables
Other receivables break down as follows:
1) Receivables taken over from Spie Batignolles:
Receivables related to:
- the Pinglin contract 45,312.5
Receivables on
real estate transactions 246.4
45,558.9
2) Tax receivables
Including: Carryback credits 97,005.3
3) Other receivables 6,057.6
Total 148,621.8
Note 5: Prepaid expenses
Prepaid expenses include:
Prepaid operating expenses 125.0
Prepaid interest on
commercial paper and rate swaps 730.8
Total 855.8
Note 6: Marketable securities
Marketable securities include:
Certificates of deposit and mutual funds 24.5
Schneider Electric SA shares
purchased in connection with the 14th,
15th and 16th Stock Option Plans 87,021.8
Total 87,046.3
On December 9, 2004, Schneider Electric SA
classified its treasury stock by intended purpose.
Number Value
of shares (millions
of euros)
Plan 14 934,909 47.2
Plans 15 and 16 939,683 39.9
C - Classification
On December 9, 2004, Schneider Electric SA classi-
fied its treasury stock by intended purpose before
canceling 7,000,000 shares.
Other investment Number Value
of shares (millions
of euros)
Plans 16, 17 and 18 1,616,967 80.2
Legrand Plan 768,275 38.1
Other 7,826,682 388.0
a) Merger difference: in 1997, a 381,313.2 thousand
merger difference was recognized on the merger of
Merlin Gerin and Telemecanique into Schneider
Electric SA, corresponding to the difference between
the historical cost of the Merlin Gerin and
Telemecanique shares in the accounts of Schneider
Electric SA and the book value of the two companies'
net assets. Equivalent to a fair value adjustment, the
difference has been reported on a separate line of the
Portfolio Analysis since 1998.
b) Carrying value of the Schneider Electric Industries
SAS shares: an impairment test based on future cash
flows discounted over 10 years or a comparable
method gives a higher value than the cumulative his-
torical cost of the Schneider Electric Industries SAS
shares, amounting to 1.53 billion at December 31,
2004. As a result, no impairment loss was recorded
for the year.
c) At December 31, 2004, Schneider Electric SA held
3,211,924 shares in treasury stock, acquired at a total
cost of 159.2 million.
Note 3: Allowances
for impairment in value of
investments
Allowances for impairment in value are recorded or
adjusted at each year end based on a comparison
between the historical cost of investments and their
estimated fair value. Fair value corresponds to the
Company's equity in the underlying net assets plus
any unrealized gains. For recently-acquired invest-
ments, account is also taken of goodwill, the invest-
ment yield and the earnings outlook of the issuer. For
listed investments, fair value is also based on market
price. Unrealized gains on investments are not recog-
nized.