APC 2012 Annual Report Download - page 180

2012 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC178
CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31, 2012
5NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note2 Changes in the scope of consolidation
The Group’s consolidated fi nancial statements for the year ended December31, 2012 can be summarized as follows:
Number of active companies Dec.31, 2012 Dec.31, 2011
Parent company and fully consolidated subsidiaries 582 590
Proportionally consolidated companies 31
Companies accounted for by the equity method 6 5
TOTAL 591 596
2.1 – Follow-up on 2011 acquisitions
In accordance with IFRS3R, Schneider Electric valued the assets
acquired and liabilities assumed at their fair value on the date of
acquisition.
The fi nal allocation of the acquisition price of Summit Energy
(April14, 2011), of DIGILINK (May13, 2011), of Luminous (June1,
2011), of Steck (July 20, 2011), of Telvent (August 31, 2011),
and of Leader&Harvest (October11, 2011) led principally to the
recognition of intangible assets in the amount of EUR406million
(technology, backlog, inventories and customer relationships) and
to revaluations of property, plant and equipment in the amount of
EUR7million; these assets were valued by independent experts.
Asset write-offs, contingent liabilities and indemnifi cation assets
were recognized for respectively a total amount of EUR290million,
EUR146million and EUR2million.
Comparative data in2011 did not require a change in2012 because
the impacts related to changes in fair value recognized as part of
the acquisition were not signifi cant across the Schneider Group
balance sheet and income statement also.
2.2 – Acquisitions during the year
The total amount of acquisitions during the year came to EUR249million, net of cash and cash equivalents acquired.
Dec.31, 2012 Dec.31, 2011
Acquisitions (249) (2,873)
Cash and cash equivalents paid (268) (2,953)
Cash and cash equivalents paid acquired 19 80
Disposals 76
Other operations - (6)
NET FINANCIAL INVESTMENT (242) (2,873)
It is mainly related to the acquisition of M&C Energy Group
(June12,2012).
The provisional allocation from acquisitions of M&C Energy Group
led principally to the recognition of intangible assets in the amount
of EUR19million (customer relationships).
On December 31, 2012, the main elements of the provisional
computation are:
•contingent liabilities, for the identifi cation of risks are not
completed at the closing date;
•tangible assets, because the estimated fair value of these assets
is in progress;
•intangible assets, because the assumptions used to value these
assets will be refi ned in2013.