APC 2011 Annual Report Download - page 227

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2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 225
COMPANY FINANCIAL STATEMENTS
6
NOTES TO THE FINANCIAL STATEMENTS
2.2 – Other investment securities
Other investment securities Dec.31, 2010 Increases Decreases Dec.31, 2011
Schneider ElectricSA shares 48,778 - - 48,778
Other 111,303 - - 111,303
Provisions for other shares (77) - - (77)
NET 160,004 - - 160,004
2.3 – Advances to subsidiaries and affiliates
Advances to subsidiaries and affi liates Dec.31, 2010 Increases Decreases Dec.31, 2011
Cost 3,140,038 548,584 (81,915) 3,606,707
Provisions (61) - - (61)
NET 3,139,977 548,584 (81,915) 3,606,646
Other investment securities primarily include Schneider ElectricSA
shares acquired for allocation on the exercise of certain stock
options. Schneider Electric SA has not reclassifi ed own shares
allocated to this line item as of December31, 2004. However, since
then, all purchases made for allocation to stock option plans have
been classifi ed as marketable securities.
On September2, 2011, the nominal value of the shares was divided
by two. As a consequence, the number of own shares recognised
under “Other investment securities” is 1,994,154 versus 997,077
shares at December 31,2010, representing a gross value of
EUR49million.
“Other” shares primarily consist of EUR111million of AXA shares.
The other investments included in this item have been fully
writtendown.
At December31, 2011, this item mainly consisted of two loans totaling EUR3billion granted to Schneider Electric IndustriesSAS, repayable
in 2011 and 2015, of three loans granted to Boissière Finance for a total amount of EUR456million with maturity date 2016 and of accrued
interest of EUR50million.
Note3
Other receivables
Other receivables Dec.31, 2011 Dec.31, 2010
Cost 180,085 230,307
Provisions (45,256) (45,260)
NET 134,829 185,047
“Other receivables” primarily consist of the EUR280million in group tax relief, net of EUR210million in advances to subsidiaries, representing
a net amount of EUR70million.
As of December31, 2011, line item still included EUR45million in disputed receivables, all fully written down.