APC 2010 Annual Report Download - page 174

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CONSOLIDATED FINANCIAL STATEMENTS
5NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note7
Restructuring costs
Restructuring costs totaled EUR96million over the period. They mainly relate to industrial and support function reorganisations in Europe
(approximately EUR54million) and in North America (approximately EUR22million).
2010 2009
Amortisation of purchase accounting intangibles (213) (109)
Impairment of purchase accounting intangibles - (32)
Goodwill impairment (15) (90)
AMORTISATION AND IMPAIRMENT OF PURCHASE ACCOUNTING INTANGIBLES (228) (231)
Note8
Amortisation and impairment of purchase accounting intangibles
The amortisation of purchase accounting intangibles, which totaled
EUR213million over the period, includes EUR43million that
correspond to the Areva Distribution business.
The migration of the Group’s brands towards the Schneider Electric
brand (One Brand project) has led to the amortisation from January1,
2010 of the Xantrex, TAC and MGE brands over a six-year period.
The corresponding amortisation expense totaled EUR56million over
the year. Impairment losses totaling EUR15million are recognised on
goodwill relating to two small businesses in Europe currently being
sold.
Impairment tests performed on all the Group’s CGUs have not led to
impairment losses being recognised. Analysis of the test’s discount
rate sensitivity shows impairment losses would not be recognised in
the case of a 0.5 point increase in the discount rate.
Note9
Other financial income and expense
2010 2009
Exchange gains and losses, net 25 (1)
Financial component of defi ned benefi t plan costs (49) (56)
Dividends 97
Net gains/(losses) on disposal of long-term investments 3 (3)
Other fi nancial expense, net (53) (34)
OTHER FINANCIAL INCOME AND EXPENSE (65) (87)
Dividends are mainly received on AXA shares.
In July2010, Schneider Electric partially bought back its July2013 bond. This transaction generated a one-off expense of EUR36million,
presented under Other fi nancial expense, net.
2010 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC172