APC 2012 Annual Report Download - page 246

2012 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC244
COMPANY FINANCIAL STATEMENTS
6NOTES TO THE FINANCIAL STATEMENTS
Note14 Net financial income
Note13 Related-party transactions (minimum 10% interest)
Gross Net
Shares in subsidiaries and affi liates 4,603,076 4,497,571
Advances to subsidiaries and affi liates 4,178,597 4,178,597
Accounts receivable 954 728
Cash and cash equivalents 9,105,114 9,105,114
Interest-bearing liabilities --
Accounts payable --
Revenues:
• dividends 363,983
• interests 81,876
Dec.31, 2012 Dec.31, 2011
Dividends 371,978 1,436,419
Net interest income (expense) (146,716) (80,404)
Other (4,565) (3,789)
NET FINANCIAL INCOME 220,697 1,352,225
The main 2012 dividends received by Schneider Electric SA
were paid by its subsidiaries Schneider Electric Industries SAS
(EUR300million) and Cofi bel (EUR64million).
The Schneider Electric IndustriesSAS subsidiary paid a dividend of
EUR1,300million in2011.
Note15 Net non-recurring income/(expense)
Dec.31, 2012 Dec.31, 2011
Net gains/(losses) on fi xed asset disposals (7,247) 1,190,413
Provisions net of reversals (69,107) (16,689)
Other non-recurring income/(expense) 6,244 (859)
NET NON-RECURRING INCOME/(EXPENSE) (70,109) 1,172,864
The EUR7 million net gain on fi xed assets disposals is mainly
related to the sale of AXA investment for a EUR11million gain and
on the Schneider Electric SA shares allocation to plan n°26 for
EUR17million.
On December 31, 2012, the Company booked provisions for
impairment on its investment in Cofi bel for EUR63 million, in
Cofi mines for EUR8 million and in Schneider Electric Japan for
EUR18million. The provision of EUR17million booked in2011 for
the allocation of Schneider ElectricSA shares to grant shares plans
n°5 and n°8 was reversed in February2012.
On December31, 2012, “Other non-recurring income/(expense)”
corresponds to the EUR6million repayment received on litigation
GIS Siemens High Voltage in 2012 over the EUR8 million paid
in2007.