APC 2012 Annual Report Download - page 238

2012 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC236
COMPANY FINANCIAL STATEMENTS
6NOTES TO THE FINANCIAL STATEMENTS
Currency risk
Where necessary, a contingency provision is in place for unrealised
exchange losses. However, where there are unrealised exchange
gains and losses on back-to-back transactions in the same
currency and with the same maturity, the amount of the provision is
then limited to the net loss.
Bonds
Redemption premiums and issue costs are amortised over the life
of the bonds.
Note1 Non-current assets
1.1 – Intangible assets
This item primarily consists of share issue and merger expenses, which are fully amortised.
1.2 – Tangible assets
Tangible assets Dec.31, 2011 Additions Disposals Dec.31, 2012
Cost 4,470 - (10) 4,460
Depreciation (290) - - (290)
NET 4,180 - (10) 4,170
Note2 Investments
2.1 – Shares in subsidiaries and affiliates
Shares in subsidiaries and affi liates Dec.31, 2011 Additions Disposals Dec.31, 2012
Cost 4,607,212 5 (1,458) 4,605,759
Provisions (17,896) (89,067) 1,458 (105,505)
NET 4,589,316 (89,062) - 4,500,254
The main changes over the fi nancial year are mainly related to the impairment of its investments in Cofi bel for EUR63million, Cofi mines for
EUR8million and for Schneider Electric Japon for EUR18million.
The main investments at December31, 2012 were as follows:
Shares in subsidiaries and affi liates Carrying value
Schneider Electric IndustriesSAS 4,344,481
Cofi bel 74,647
Cofi mines 74,256
Schneider Electric Japan Holding 3,149
Other (less than EUR20million) 3,721
TOTAL 4,500,254