APC 2009 Annual Report Download - page 195
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2009 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 193
COMPANY FINANCIAL STATEMENTS
6
NOTES TO THE FINANCIAL STATEMENTS
Note8
Provisions for contingencies and pension accruals
Dec. 31, 2008 Increases Decreases Dec. 31, 2009
Provisions for contingencies
Disputes 929 - 0 929
Other 63 0 (33) 30
992 0 (33) 959
Provisions for pension accruals
Pension accruals 31,809 2,003 (2,033) 31,779
32,801 2,003 (2,066) 32,738
8.1 - Contingencies
Management is confi dent that balance sheet provisions for known
disputes in which the Company is involved are suffi cient to ensure
that these disputes do not have a material impact on assets or
income. In particular, suffi cient provisions have been set aside to
cover the potential consequences of a current dispute in Belgium
involving former senior executives and managers of the Company.
8.2 - Pension accruals
The Company has various obligations towards its current and retired
senior executives and managers. Following an actuarial valuation
performed in 2009, the provision for these obligations was increased
to EUR 32million.
The Company applied the corridor method to actuarial gains and
losses arising from this valuation (see Accounting Principles). At
December31, 2009, actuarial gains and losses totalled EUR4million
and the amount to be recognised in the income statement over
10years came to EUR 1million.
Note9
Bonds
Amount
Interest rate MaturityDec. 31, 2009 Dec. 31, 2008
Schneider Electric SA 2010 900,000 900,000 3.125% fi xed Aug. 11, 2010
Schneider Electric SA 2017 600,000 600,000 4.00% fi xed Aug. 11, 2017
Schneider Electric SA 2011 500,000 500,000 Euribor +0.2% variable July18, 2011
Schneider Electric SA 2014 500,000 500,000 4.50% fi xed Jan. 17, 2014
Schneider Electric SA 2009 0 110,000 3.375% fi xed Jan. 26, 2009
Schneider Electric SA 2015 600,000 600,000 5.375% fi xed Jan. 8, 2015
Schneider Electric SA 2017 125,000 125,000 4.00% fi xed Aug. 11, 2017
Schneider Electric SA 2017 55,000 55,000 4.00% fi xed Aug. 11, 2017
Schneider Electric SA 2016 177,565 177,565 Euribor +1.60%
variable
July25, 2016
Schneider Electric SA 2013 100,000 100,000 CMS +1% variable July31, 2013
Schneider Electric SA 2013 750,000 - 6.75% fi xed July16, 2013
Schneider Electric SA 2015 150,000 - 5.375% fi xed Jan. 8, 2015
Schneider Electric SA 2017 250,000 - 4.00% fi xed Aug. 11, 2017
4,707,565 3,667,565