APC 2009 Annual Report Download - page 135

2009 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 133
CONSOLIDATED FINANCIAL STATEMENTS
5
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note7 Restructuring costs
Restructuring expenses totalled EUR 313million and mainly concerned measures taken in response to the economic and fi nancial crisis.
These expenses were primarily recorded in Europe (EUR 240million) and North America (EUR 55million).
Note8 Amortisation and impairment of purchase accounting intangibles
2009 2008
Amortisation of purchase accounting intangibles (109) (93)
Impairment of purchase accounting intangibles (32) (22)
Goodwill impairment (90) (59)
AMORTISATION AND IMPAIRMENT OF PURCHASE ACCOUNTING INTANGIBLES (231) (174)
Impairment of purchase accounting intangibles amounted to
EUR 32million. As in 2008, the carrying amount of the assets of
Systron Donner Automotive (SDA) a business that CST has decided
to discontinue—has been aligned with their value in use. This led to
the recognition of an additional EUR 28million loss in 2009.
In addition, an impairment test on the CST CGU led to the recognition
of an impairment loss of EUR 90million during the year.
For all CGUs, the sensitivy analysis to the discount rate used for
impairment testing is as follows:
•a 0.5 point increase in the discount rate would have increased
the loss by EUR 106million;
•a 0.5 point decrease in the discount rate would have reduced the
loss by EUR 50million.
Note9 Other financial income and expense
2009 2008
Exchange gains and losses, net (1) (87)
Financial component of defi ned benefi t plan costs (56) (19)
Dividend income 718
Net gains/(losses) on disposal of long-term investments (3) 11
Other fi nancial expense, net (34) (10)
OTHER FINANCIAL INCOME AND EXPENSE (87) (87)
Other fi nancial expenses, net amounted to EUR 34million and primarily included bank facility arrangement fees.