APC 2013 Annual Report Download - page 214

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5CONSOLIDATED FINANCIALSTATEMENTS ATDECEMBER 31, 2013
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Cash and cash equivalents
Note20
Dec.31, 2013 Dec.31, 2012
Marketable securities 2,193 1,720
Negotiable debt securities and short-term deposits 342 443
Cash and cash equivalents 2,993 1,574
Total cash and cash equivalents 5,528 3,737
Bank overdrafts (140) (120)
NET CASH AND CASH EQUIVALENTS 5,388 3,617
Non-recourse factoring of trade receivables were realized during the second semester of2013 for a total amount of EUR132million,
compared with EUR112million during the second semesterof2012.
Equity
Note21
21.1 – Capital
Schneider Electric’s capital management strategy is designed to:
ensure Group liquidity;
l
Share capital
optimize its financial structure;
l
The company’s share capital at December31, 2013 amounted to optimize the weighted average cost of capital.
l
EUR2,247,832,092 represented by 561,958,023shares with a par The strategy must also ensure the Group has access to different
value of EUR4, all fully paid up. capital markets under the best possible conditions. Factors taken
At December31, 2013, a total of 609,815,400voting rights were into account for decision-making purposes include objectives
attached to the 561,958,023shares outstanding. expressed in terms of earnings per share, ratings or balance sheet
stability. Finally, decisions may be implemented depending on
specific market conditions.
Changes in share capital
Changes in share capital since December31, 2011 were as follows:
Cumulative Total
number of shares (in euros)
Capital at Dec.31, 2011 548,943,024 2,195,772,096
Exercise of stock options 2,952,154 11,808,616
Employee share issue 3,521,836 14,087,344
Capital at Dec.31, 2012 555,417,014 2,221,668,056
Exercise of stock options 3,788,938 15,155,752
Employee share issue 2,752,071 11,008,284
CAPITAL AT DEC.31, 2013 561,958,023 2,247,832,092
The share premium account increased by EUR208,536,503following the exercise of options and the increases in capital.
212 2013 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC