APC 2009 Annual Report Download - page 138

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2009 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC136
CONSOLIDATED FINANCIAL STATEMENTS
5NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(A) Square D, Telemecanique and Merlin Gerin’s goodwill have been allocated on the basis of operating profi t by region as of the acquisition
date:
Europe North America Asia- Pacifi c Rest of the world
Square D 9% 80% 10% 1%
Télémécanique 71% 0% 20% 9%
Merlin Gerin 62% 10% 20% 8%
11.2 - Changes in goodwill
The main movements between December 31, 2008 and December 31, 2009 are summarised in the following table:
Full year 2009 Full year 2008
Net goodwill at opening 8,542 8,141
Acquisitions* 66 415
Disposals (2) -
Impairment (90) (59)
Translation adjustment (26) 97
Reclassifi cations 121 (52)
Net goodwill at year end 8,611 8,542
Cumulative impairment (157) (67)
* On the basis of the exchange rate on the acquisition date.
Acquisitions
The Group has a period of 12months from the acquisition date to
fi nalise the purchase accounting. As a result, goodwill fi gures for
2009 acquisitions are provisional.
Acquisitions during the year primarily concerned Meher Capacitors
and Conzerv Systems in India, and Microsol in Brazil.
Impairment
Impairment losses recognised during the year totalled EUR 90million,
for CST (note8).
Other changes
Other changes, in an amount of EUR 121 million, reflect the
reclassification of Delixi Electric goodwill, for EUR 136million
(proportionally consolidated as from January 1, 2009), and a
EUR 29million reduction in RAM and Wessen’s goodwill following
adjustments to the provisional accounting. RAM and Wessen were
acquired at the end of 2008.
The main exchange rate changes concerned goodwill in USD .