APC 2004 Annual Report Download - page 129

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127
Related party transactions (minimum 10% interest)
Gross Net
Shares in subsidiaries and affiliates 1,837,441.9 1,801,256.0
Advances to subsidiaries and affiliates 2,973,188.2 2,972,871.8
Accounts receivable 1,030.2 1,030.2
Amounts payable to subsidiaries and affiliates 3.0 3.0
Accounts payable 686.1 686.1
Revenues:
- Dividends 460,197.5
- Interest 154,977.4
See note 7, dealing with advances to the Group cash pool (Boissière Finance).
Note 15: Other information
Pension obligations
The Company is committed to paying supplementary
pension benefits to certain active and retired senior
executives and managers. The related obligations
have been accrued for in the amount of 18.8 million.
Partnership obligations
Share of the liabilities of "SC" non-trading companies
attributable to Schneider Electric SA as partner of the
companies concerned: not material.
Share of the liabilities of "SNC" flow-through entities
attributable to Schneider Electric SA as partner of the
entities concerned: not material.
Financial commitments
Commitments given:
- Counterguarantees
of bank guarantees: None
- Other guarantees given: 6.6 million
Commitments received:
- Bank counterguarantees: None
Off-balance sheet instruments
The Company does not purchase or sell any off-bal-
ance sheet instruments. Hedging transactions are
carried out by the manager of the Group cash pool,
Boissière Finance, a wholly-owned subsidiary of
Schneider Electric Industries SAS, which in turn is
wholly-owned by Schneider Electric SA.
Exchange of Legrand shares
As part of its public exchange offer for Legrand SA,
Schneider Electric SA made a commitment to
exchange shares held upon exercise of options
granted by Legrand for Schneider Electric shares.
When Legrand SA was sold to KKR / Wendel
Investissement, Schneider Electric SA set up a call
and put system for the Legrand shares created
through the exercise of said options. These shares
are re-sold to Legrand SAS (formerly known as
FIMAF), an investment vehicle of the KKR/Wendel
Investissement consortium.
Subsidiaries and affiliates
Commitments related to subsidiaries and affiliates
represent either contractual commitments to buy out
minority shareholders of consolidated companies or
earn-out payments due in respect of subsidiaries or
affiliates previously acquired. These commitments
totaled 57.7 million at December 31, 2004.
Number of employees
At December 31, 2004, the Company had three
employees.
Consolidated financial statements
Schneider Electric SA is the parent company of the
Group and therefore publishes the consolidated finan-
cial statements of the Schneider Electric Group.
Group relief
Schneider Electric SA is the parent company of the
tax group comprising all French subsidiaries that are
over 95 %-owned.
Company financial statements