APC 2011 Annual Report Download - page 206

204 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC
CONSOLIDATED FINANCIAL STATEMENTS
5NOTES TO THE CONSOLIDATED FINANCIAL
Note27 Employees
27.1 – Employees
The average number of permanent and temporary employees was as follows in 2010 and 2011:
(number of employees) 2011 2010
Production 70,610 61,911
Administration 69,881 61,571
TOTAL AVERAGE NUMBER OF EMPLOYEES 140,491 123,482
By region:
EMEAS* 68,392 60,937
North America 27,245 26,324
Asia-Pacifi c 44,854 36,221
* Europe, Middle-East, Africa, SouthAmerica.
Note28 Related party transactions
27.2 – Employee benefits expense
2011 2010
Payroll costs (5,362) (4,649)
Profi t-sharing and incentive bonuses (70) (65)
Stock options (51) (31)
WESOP (9) (3)
EMPLOYEE BENEFITS EXPENSE (5,492 ) (4,748)
27.3 – Benefits granted to senior executives
In 2011, the Group paid EUR0.57 million in attendance fees to
the members of its Supervisory Board. The total amount of gross
remuneration, including benefi ts in kind, paid in 2011 by the Group
to the members of Senior Management excluding members of the
Management Board totaled EUR12million, of which EUR4.9million
corresponded to the variable portion.
During the last three periods, 559,000 stock options and
528,482 stock grants have been allocated to members of Senior
Management.
Since December 16, 2011, 100% of stock grants and/or stock
options are conditional on the achievement of performance criteria
for members of the Executive Committee. Amounts here above
have been restated to refl ect the division by half of the nominal
amount of the stock that occurred on September2, 2011.
Pension obligations with respect to members of Senior
Management amounted to EUR76million at December31, 2011
versus EUR73million at December31, 2010.
Please refer to Chapter3 Section8 of the Registration Document for
more information regarding the members of Senior Management.
28.1 – Associates
Companies over which the Group has signifi cant infl uence,
accounted for by the equity consolidation method. Transactions
with these related parties are carried out on arm’s length terms.
Related party transactions were not material in 2011.
28.2 – Related parties with significant
influence
No transactions were carried out during the year with members of
the Supervisory Board or Management Board.
Compensation and benefi ts paid to the Group’s top senior
executives are described in note27.3.
The increase in the average number of employees is primarily linked to the 2011 acquisitions.