APC 2010 Annual Report Download - page 239
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COMPANY FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
Note17
Off-balance sheet commitments
17.1 - Partnership obligations
The share of liabilities of “SC” non-trading companies attributable to
Schneider Electric SA as partner is not material.
The share of liabilities of “SNC” fl ow-through entities attributable to
Schneider Electric SA as partner is not material.
17.2 - Guarantees given and received
Commitments given:
Counter-guarantees of bank guarantees: None
Other guarantees given: EUR29million
Commitments received:
Bank counter-guarantees: None
17.3 - Financial instruments
Schneider Electric Group hedging transactions, exchange guarantees and the establishment of fi nancial instruments are carried out by the
manager of the Group cash pool, Boissière Finance, a wholly-owned subsidiary of Schneider Electric Industries SAS, which in turn is wholly-
owned by Schneider ElectricSA. Nevertheless, Schneider Electric SA has arranged fi xed-rate/fl oating-rate interest rate swaps to hedge
certain bond issues, the market value of which is as follows:
Underlying Hedging instrument
(in thousands of euros)
Type Face value
(in euros) Maturity Impact
onnetfi nancialincome Market value
Bond issue 500,000,000 July 18 2011 (16,912) (8,399)
Schuldschein 195,000,000 May 21 2013 (7,613) (14,502)
Schuldschein 129,000,000 May 21 2015 (4,979) (13,549)
Private placement (CMS) 100,000,000 July 31 2013 (4,159) (8,540)
Private placement (CMS) 100,000,000 July 31 2013 3,312 6,517
Bond issue 475,000,000 July 16 2013 10,506 15,428
TOTAL (19,845) (23,044)
Note18
Other information
18.1 - Workforce
At December31, 2010, the Company had two employees.
18.2 - Consolidated financial statements
Schneider Electric SA is the parent company of the Group and accordingly publishes the consolidated fi nancial statements of the Schneider
Electric Group.
2010 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 237
6