APC 2011 Annual Report Download - page 231

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2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 229
COMPANY FINANCIAL STATEMENTS
6
NOTES TO THE FINANCIAL STATEMENTS
Note8
Provisions for contingencies and pension accruals
Dec.31, 2010 Increases Decreases Dec.31, 2011
Provisions for contingencies
Disputes 15 - - 15
Other 30 - - 30
45--45
Provisions for pension accruals
Pension accruals 31,704 2,000 (1,983) 31,721
31,749 2,000 (1,983) 31,766
8.1 – Contingencies
Management is confi dent that overall the balance sheet provisions
for disputes of which it is currently aware and in which the Company
is involved should be suffi cient to ensure that these disputes do not
have a material impact on its fi nancial position or income. Thisis
particularly true of the provisions set aside to cover the potential
consequences of a pending dispute in Belgium involving former
senior executives and managers of the Company.
8.2 – Pension accruals
The Company has various obligations towards its current and
retired senior executives and managers. Following an actuarial
valuation carried out in 2011, the provision for these obligations was
estimated to EUR32million.
The Company applied the corridor method to the actuarial gains
and losses arising from this valuation (see “accounting principles”).
At December 31, 2011, cumulative actuarial gains and losses
totalled EUR7 million. From 2012, a total of EUR2.5 million,
exceeding 10% of the obligation, is being amortised over 10years.
Note9
Bonds
Share capital
Interest rate Maturity
Dec.31, 2011 Dec.31, 2010
Schneider ElectricSA 2017 600,000 600,000 4.00% Fixed Aug.11, 2017
Schneider ElectricSA 2011 - 500,000 Euribor +0.20% Floating July18, 2011
Schneider ElectricSA 2014 500,000 500,000 4.50% Fixed Jan.17, 2014
Schneider ElectricSA 2015 600,000 600,000 5.375% Fixed Jan.08, 2015
Schneider ElectricSA 2017 125,000 125,000 4.00% Fixed Aug.11, 2017
Schneider ElectricSA 2017 55,000 55,000 4.00% Fixed Aug.11, 2017
Schneider ElectricSA 2016 177,565 177,565 Euribor +0.60% Floating July25, 2016
Schneider ElectricSA 2013 100,000 100,000 CMS +1% Floating July31, 2013
Schneider ElectricSA 2013 487,000 487,000 6.75% Fixed July16, 2013
Schneider ElectricSA 2015 150,000 150,000 5.375% Fixed Jan.08, 2015
Schneider ElectricSA 2017 250,000 250,000 4.00% Fixed Aug.11, 2017
Schneider ElectricSA 2016 300,000 300,000 2.875% Fixed July20, 2016
Schneider ElectricSA 2016 200,000 200,000 2.875% Fixed July20, 2016
Schneider ElectricSA 2020 500,000 500,000 3.625% Fixed July20, 2020
Schneider ElectricSA 2014 231,857 Libor +0.49% Floating July1, 2014
Schneider ElectricSA 2018 750,000 3.75% Fixed July12, 2018
Schneider ElectricSA 2019 500,000 3.50% Fixed Jan.22, 2019
Schneider ElectricSA 2016 124,750 0.849% F ixed Nov.18, 2016
Schneider ElectricSA 2016 99,800 0.84625% Fixed Dec.8, 2016
5.750,973 4,544,565
Fixed: fi xed rate.
Floating: fl oating rate.