APC 2010 Annual Report Download - page 238
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COMPANY FINANCIAL STATEMENTS
6NOTES TO THE FINANCIAL STATEMENTS
Note16
Net income tax benefit
The “income tax expense” line item in the statement of income mainly
consists of the Group relief recorded by the tax group headed by
Schneider Electric SA. Group relief totaled EUR207million in 2010,
up on the EUR55million the prior fi nancial year.
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 totaled
EUR1,396million at December31, 2010.
Note15
Net non-recurring income/(expense)
Dec. 31, 2010 Dec. 31, 2009
Net gains/(losses) on fi xed asset disposals (2,081) (2,668)
Provisions net of reversals 1,499 32,433
Other non-recurring income/(expense) 1,173 8,451
NET NON-RECURRING INCOME/(EXPENSE) 592 38,216
EUR2million in losses on asset disposals were generated as part
of the sale of own shares to employees under stock grant plans.
In February2010, the Company reversed a EUR1million contingency
provision funded in 2002 with respect to a non-trading real-estate
company. The EUR0.4 million in mandatory tax amortisation
recognised in 1996 was fully reversed in 2010.
At December31, 2010, the “Other non-recurring income/(expense)”
item was mainly comprised of a EUR1million insurance payout
relating to a dispute.
2010 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC236