APC 2013 Annual Report Download - page 265

COMPANY FINANCIALSTATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
Provisions for contingencies and pension accruals Note8
(in thousands of euros)
Dec.31, 2012 Increases Decreases Dec.31, 2013
Provisions for contingencies
Disputes 15 - - 15
Other 30 - - 30
45 - - 45
Provisions for pension accruals - - - -
Pension accruals - - - -
45 - - 45
8.1 – Contingencies 8.2 – Pension accruals
Management is confident that overall the balance sheet provisions The company has various obligations towards its current and
for disputes of which it is currently aware and in which the retired senior executives and managers. During2012, the
company is involved should be sufficient to ensure that these company closed the previous plan to new comers and
disputes do not have a material impact on its financial position or implemented a new plan with progressing vesting rights based on
income. seniority in the Group and in Executive Committee. The financing
of this new plan was externalized to AXA France Vie.
The company applied the corridor method to the actuarial gains
and losses arising from this valuation (see “accounting principles”).
AtDecember31, 2013, cumulative actuarial gains and losses
totaled EUR11million. From2014, a total of EUR7million,
exceeding 10% of the obligation, is being amortized over
16years.
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2013 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC