APC 2004 Annual Report Download - page 127

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125
Note 7: Advances
to the Group cash pool
This item corresponds to interest-bearing advances to
the Group cash pool (Boissière Finance) that are
recoverable on demand. The total includes 60 million
in commercial paper issued at the end of 2004.
Note 8: Shareholders' equity
The number of common shares issued and outstand-
ing decreased from 231,842,170 at December 31,
2003 to 226,194,177 at December 31, 2004 as fol-
lows:
7 million shares cancelled as part of a capital
decrease.
646,160 shares issued on exercise of management
stock options.
705,847 shares issued as part of the worldwide
employee share purchase plan.
No other securities have been issued carrying rights
to a share in the Company's income.
The par value of the shares is 8.
Movements in additional paid-in capital over the year
were as follows:
Additional paid-in capital
at December 31, 2003 4,290,833.0
1. Premiums on shares issued on
exercise of options and in connection
with the ESPP
(net of share issuance costs) 50,159.1
2. Capital decrease (291,060.0)
Additional paid-in capital
at December 31, 2004 4,049,932.1
Additional paid-in capital at December 31, 2004
breaks down as follows:
Premiums on shares issued
in connection with stock-for-stock
offers 3,668,317.7
Premiums on shares issued
for cash 350,312.0
Merger premiums (Schneider SA/
Spie Batignolles 1995 and others) 31,302.4
Premiums on shares issued
on conversion of bonds and other -
Total 4,049,932.1
The 169,239 thousand in 2003 income remaining
after distribution of the dividend was allocated to
retained earnings.
Note 9: Reserves
for contingencies and pension
accruals
These items break down as follows:
2004 2003
Reserves for contingencies:
Contract risks 2,743.4 2,743.4
Other contingencies 6,158.3 8,171.3
Currency risks 10.1 -
Total 8,911.8 10,914.7
Pension
accruals
(note 15 a)
18,800.0 10,986.2
Other contingencies correspond to risks transferred to
Schneider Electric in connection with divestments or
mergers (Spie Batignolles) which have not yet entire-
ly disappeared.
Unrealized exchange losses are reserved for when
necessary. Where unrealized exchange gains and
losses exist on investments and the related financing
in the same currency and with the same maturity, the
amount of the reserve is limited to the net loss.
Note 10: Bonds
1. On April 14, 1999, Schneider Electric SA issued
750 million worth of 3.75% bonds due April 14,
2004. On May 28, 1999, it issued 250 million worth
of 3.75% bonds also due April 14, 2004. The second
bond issue was treated as being fungible with the first
issue and was partially redeemed in 2003, in an
amount of 49 million. The bonds, which were issued
at a price corresponding to 99% of par, were traded
on the Paris and Luxembourg markets. They were
redeemed at maturity in 2004 in an amount of 951
million.
2. On October 19 and 20, 2000, Schneider Electric
issued 400 million and 50 million worth of
6.1275 % bonds due October 19, 2007. The bonds
were issued at a price corresponding to 99.77 % of
par.
The bonds are traded on the Paris and Luxembourg
markets.
3. On October 31, 2003, Schneider Electric SA issued
750 million worth of 3.875 % bonds due October 31,
2008. The bonds were issued at a price correspond-
ing to 99.643 % of par.
The bonds are traded on the Luxembourg market.
Call premiums are being amortized over the life of the
bonds.
Company financial statements