APC 2014 Annual Report Download - page 199

CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31,2014
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, 2014 enclose the financial statements of companies listed
in the note32. The scope of consolidation for the year ended December31, 2014 can be summarized as follows:
Number of active companies Dec.31, 2014 Dec.31, 2013*
Parent company and fully consolidated subsidiaries 607 544
Companies accounted for by the equity method 8 6
TOTAL 615 550
The 2013 figures were restated from discontinued operations and change in consolidation method disclosed in note1.*
2.1 – Follow-up on 2013 acquisitions
respectively for a total amount of EUR17million and
EUR102million. The goodwill is not tax-deductible.
In accordance with IFRS3R, Schneider Electric valued the assets Comparative data in2013 did not require a change in2014
acquired and liabilities assumed at their fair value on the date of because the impacts related to changes in fair value recognized
acquisition. as part of the acquisition price were not significant across the
The final allocation of the acquisition of Electroshield – TM Samara Schneider Electric Group balance sheet and income statement.
(March28, 2013) led principally to the recognition of revaluations
2.2 – Acquisitions during the year
of tangible assets estimated by independent experts in the
amount of EUR10million, provisions and contingent liabilities
The total amount of acquisitions during the year came to EUR2,490million, net of cash and cash equivalents acquired.
Dec.31, 2014 Dec.31, 2013
Acquisitions (2,490) (330)
Cash and cash equivalents paid* (3,093) (336)
Cash and cash equivalents acquired/(paid) 603 6
Disposals - 36
Other operations - -
NET FINANCIAL INVESTMENT (2,490) (294)
Net of the cash received from the disposal of Appliance.*
5
The cash paid for acquisitions is mainly related to the cash-out The allocation from the acquisition of Invensys led principally to
paid for Invensys acquisition. The cash and cash equivalents the recognition of intangibles at their fair value for a total amount
acquired includes GBP103million received from Invensys pension of EUR501million (technology, customer relationships and
fund as a consideration for the assets previously kept in the trademarks) and revaluations of tangibles in the amount of
Reservoir Trust. EUR(18)million; these assets were valued by independent
experts. Provisions and contingent liabilities were recognized
Schneider Electric completed the acquisition of Invensys on respectively for a total amount of EUR75million and
January17, 2014. In 2014, Invensys is consolidated with full EUR287million. The goodwill is not tax-deductible.
consolidation method mainly in the Industry business, except its
Appliance division reported as discontinued operations. In 2013, On December31, 2014, the main elements of the provisional
Invensys revenues without Appliance was EUR1,689million at the computation are :
average rate of the period. the contingent liabilities, for the identification of risks are not
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completed at the closing date.
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2014 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC