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2012 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 185
CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31, 2012
5
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
11.2 – Movements during the year
The main movements during the year are summarized as follows:
Full year 2012 Full year 2011
Net goodwill at opening 12,773 10,213
Acquisitions* 195 2,356
Disposals - (21)
Impairment (250) -
Translation adjustment (108) 142
Reclassifi cations 294 83
Net goodwill at year end 12,904 12,773
Included cumulative impairment (413) (178)
* On the basis of the exchange rate at acquisition date.
Acquisitions
There is a 12 month period after the date of acquisition for the
Group to fi nalize the allocation of goodwill to these entities. The
corresponding goodwill is therefore provisional.
Goodwill generated by acquisitions made during the year totaled
EUR195 million and corresponds partly to the UK group M&C
Energy.
Goodwill generated by acquisitions in2011 totaled EUR2,353million
and corresponds principally to Telvent (EUR1,213 million), the
Chinese group Leader&Harvest (EUR464million) and the Indian
group Luminous (EUR222million).
Impairment
Impairment tests performed on all the Group’s CGUs led to the
recognition of a EUR250 million impairment loss before tax on
Buildings CGU.
Other changes
Translation adjustments concern principally goodwill onUSdollars.
Note12
Intangible assets
12.1 – Change in intangible assets
Trademarks Software Development
projects (R&D) Other Total
GROSS VALUE
Dec.31, 2010 2,621 800 1,085 1,510 6,016
Acquisitions - 25 217 54 296
Disposals - (30) (19) (8) (57)
Translation adjustments 80 4 21 46 151
Reclassifi cation 1 4 (16) (25) (36)
Changes in scope of consolidation
and other 84 24 4 338 450
Dec.31, 2011 2,786 827 1,292 1,915 6,820
Acquisitions 4 21 286 4 315
Disposals - (48) (43) (50) (141)
Translation adjustments (56) (3) (25) (16) (100)
Reclassifi cation 2 (33) 37 11 17
Changes in scope of consolidation
and other 13 36 (15) 29 63
Dec.31, 2012 2,749 800 1,532 1,892 6,974