APC 2009 Annual Report Download - page 198
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2009 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC196
COMPANY FINANCIAL STATEMENTS
6NOTES TO THE FINANCIAL STATEMENTS
Note15
Net financial income
Dec. 31, 2009 Dec. 31, 2008
Dividends 540,925 951,827
Net interest income (expense) (138,454) 145,762
Other (1,822) (1,835)
NET FINANCIAL INCOME 400,649 1,095,754
The main 2009 dividends received by Schneider Electric SA were
paid by subsidiaries Schneider Electric Industries SAS, in an amount
of EUR 527million, Cofi bel, in an amount of EUR 5million, Cofi mines,
in an amount of EUR 5million, as well as by AXA, in an amount of
EUR 4 million. Subsidiary Schneider Electric Industries SAS paid a
dividend of EUR 902million in 2008.
Note16
Net non-recurring income/(expense)
Dec. 31, 2009 Dec. 31, 2008
Net gains/(losses) on fi xed asset disposals (2,668) (12,169)
Provisions net of reversals 32,433 (14,034)
Other non-recurring income/ (expense) - net 8,451 (6,560)
NET NON-RECURRING INCOME/(EXPENSE) 38,216 (32,762)
Impairment provisions were recorded at December31, 2008 for
Schneider Electric shares held for allocation under stock option plan
26 (classifi ed in “Other investments”) in an amount of EUR 2million,
and for Schneider Electric shares held for allocation under stock
option plans 26 through 30 (classifi ed in “Marketable securities”) in
an amount of EUR 29million. These provisions were reversed in their
totality as of December31, 2009.
The EUR 8million capital gain recorded in 2009 with respect to the
liquidity contract was recognised in “Other non-recurring income/
(expense) - net”.
Note17
Net income tax benefit
In 2009, this item primarily included group relief recorded by the
tax group headed by Schneider Electric SA. Group relief totalled
EUR 55million, down from EUR 103million the year before.
Schneider Electric SA is the parent company of the tax group
comprising all French subsidiaries that are over 95%-owned. Tax
loss carryforwards available to the Company in this capacity totalled
EUR 635 million at December31, 2009.