APC 2014 Annual Report Download - page 214

5CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31,2014
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Cash and cash equivalents Note20
Dec.31, 2014 Dec.31, 2013*
Marketable securities 714 2,193
Negotiable debt securities and short-term deposits 50 342
Cash and cash equivalents 1,886 3,028
Total cash and cash equivalents 2,650 5,563
Bank overdrafts (212) (140)
NET CASH AND CASH EQUIVALENTS 2,438 5,423
The 2013 figures were restated from the change in consolidation method disclosed in note1.*
Non-recourse factoring of trade receivables were realized during the second semester of2014 for a total amount of EUR133million,
compared with EUR132million during the second semesterof2013.
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
optimize the weighted average cost of capital.
l
The company’s share capital at December31, 2014 amounted to
EUR2,338,764,568 represented by 584,691,142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
into account for decision-making purposes include objectives
At December31, 2014, a total of 626,439,033voting rights were expressed in terms of earnings per share, ratings or balance sheet
attached to the 584,691,142shares outstanding. stability. Finally, decisions may be implemented depending on
specific market conditions.
Changes in share capital
Changes in share capital since December31, 2012 were as follows:
Cumulative number of shares Total (in euros)
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
Exercise of stock options 1,807,827 7,231,308
Employee share issue 3,717,865 14,871,460
Capital increase 17,207,427 68,829,708
CAPITAL AT DEC.31, 2014 584,691,142 2,338,764,568
The share premium account increased by EUR1,137,078,373following the exercise of options and the increases in capital.
212 2014 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC