APC 2013 Annual Report Download - page 199

CONSOLIDATED FINANCIALSTATEMENTS ATDECEMBER 31, 2013
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Changes in the scope of consolidation Note2
The Group’s consolidated financial statements for the year ended December31, 2013 enclose the financial statements of companies listed
in the note32. The scope of consolidation for the year ended December31, 2013 can be summarized as follows:
Number of active companies Dec.31, 2013 Dec.31, 2012
Parent company and fully consolidated subsidiaries 543 582
Proportionally consolidated companies 33
Companies accounted for by the equity method 46
TOTAL 550 591
2.1 – Follow-up on 2012 acquisitions assets in the amount of EUR19million (customer relationships)
this asset was valued by an independent expert. Contingent
In accordance with IFRS3R, Schneider Electric valued the liabilities were recognized for a total amount of EUR1million.
assets acquired and liabilities assumed at their fair value on the Comparative data in2012 did not require a change in2013
date of acquisition. because the impacts related to changes in fair value recognized
The final allocation of the acquisition of M&C Energy Group as part of the acquisition price were not significant across the
(June12, 2012) led principally to the recognition of intangible Schneider Electric Group balance sheet and income statement.
2.2 – Acquisitions during the year
The total amount of acquisitions during the year came to EUR294million, net of cash and cash equivalents acquired.
Dec.31, 2013 Dec.31, 2012
Acquisitions (330) (249)
Cash and cash equivalents paid (336) (268)
Cash and cash equivalents acquired/(paid) 619
Disposals 36 7
Other operations --
NET FINANCIAL INVESTMENT (294) (242)
5
Schneider Electric acquired the additional 50% shares of The provisional allocation from the acquisition of Electroshield –
Electroshield – TM Samara on March28, 2013, in accordance TM Samara led principally to the recognition of revaluations of
with the 2010 purchase agreement for the price of RUB tangible assets estimated by independent experts in the amount
10.2billion as agreed then. of EUR15million and contingent liabilities for a total amount of
EUR106million. The goodwill is not tax-deductible.
Since then, Electroshield – TM Samara is consolidated with full
consolidation method. On December31, 2013, the main elements of the provisional
computation are:
The takeover of Electroshield – TM Samara by Schneider
Electric implies, in accordance with IFRS3 revised standard on contingent liabilities, for the identification of risks are not
l
business combinations: completed at the closing date;
tangible assets, because the estimated fair value of these
l
to revaluate at fair value through profit and loss the 50%
l
assets is in progress;
share formerly held and the equity method investment until
intangible assets, because the assumptions used to value
l
then;
these assets will be refined in2014.
to account for at fair value the total identifiable assets and
l
liabilities of Electroshield as well as goodwill, for the net
amount thus determined compared to the scope entry value.
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