APC 2013 Annual Report Download - page 203

CONSOLIDATED FINANCIALSTATEMENTS ATDECEMBER 31, 2013
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Restructuring costs Note7
Restructuring costs totaled EUR176million over the period. They mainly relate to industrial and support function reorganizations in Europe
(approximately EUR127million) and in Americas (approximately EUR25million).
Amortization and impairment of purchase accounting intangibles Note8
Full year 2013 Full year 2012
Amortization of purchase accounting intangibles (218) (224)
Impairment of purchase accounting intangibles - (1)
Goodwill impairment - (250)
AMORTIZATION AND IMPAIRMENT OF PURCHASE ACCOUNTING INTANGIBLES (218) (475)
The migration of the Group’s brands towards the Schneider sensitivity analysis on the test hypothesis shows that no
Electric brand (One Brand project) has led to the amortization impairment losses would be recognized in the following
from January1, 2010 of the Xantrex, TAC and MGE brands scenarios:
over a six-year period. The corresponding amortization expense a 0.5point increase of the discount rate;
l
totaled EUR61million over the year. a 1.0point decrease of the growth rate;
l
The Buildings business segment faced challenging trading a 0.5point decrease of margin rate;
l
environment in 2012 following the construction downturn in its except for Buildings CGU on the two following hypothesis:
key mature markets, affecting its financial performance. When impairment loss of 4% of assets for a 0.5point increase of
l
conducting the annual impairment tests at December31, 2012, the discount rate;
the Group had to book a goodwill impairment of Buildings CGU impairment loss of 1% of assets for a 0.5point decrease of
l
by EUR250million before tax effect. margin rate.
Impairment tests performed on the other Group’s CGUs have
not led to impairment losses being recognized in 2013. The
Other financial income and expense Note9
5
Full year 2013 Full year 2012*
Exchange gains and losses, net (12) (21)
Financial component of defined benefit plan costs (69) (84)
Dividends received 712
Net gains/(losses) on disposal of assets available for sale -12
Fair value adjustment of assets available for sale (50) -
Other financial expense, net (35) (16)
OTHER FINANCIAL INCOME AND EXPENSE (159) (97)
The 2012 figures were restated for the application of IAS19 Revised disclosed in note22 of the consolidated financial statements.*
Dividends are mainly received on AXA shares prior to 2013. Net gain on investment disposal comes from AXA divestment in 2012. NVC
Lighting shares were impaired in 2013 for a total amount of EUR50million, as stated in note15.
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2013 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC