APC 2014 Annual Report Download - page 237

CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31,2014
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
26.3.3 Raw materials
purchasing departments of the operating units report their
purchasing forecasts to the Corporate Finance and Treasury
Group is exposed to fluctuations in energy and raw material Department. Purchase commitments are hedged using forward
prices, in particular steel, copper, aluminum, silver, lead, nickel, contracts, swaps and, to a lesser extent, options.
zinc and plastics. If we are not able to hedge, compensate for or
All commodities instruments are futures and options designated
pass on to customers any such increased costs, this could have
as cash flow hedge under IFRSstandards, of which:
an adverse impact on our financial results. The Group has,
however, implemented certain procedures to limit exposure to
rising non-ferrous and precious raw material prices. The
Dec. 31, 2014 Dec. 31, 2013
Carrying amount (11) (2)
Nominal amount (271) (166)
26.3.4 Share-based payment
Schneider Electric shares are hedged (cash flow hedges) in relation to the Stock Appreciation Rights granted to US employees, details are
as follow:
Dec. 31, 2014 Dec. 31, 2013
Outstanding shares 1,277,326 1,843,846
Carrying amount 28 46
Nominal amount (57) (84)
26.4 – Financial assets and liabilities subject to netting
In accordance with IFRS7 standards, this section discloses financial instruments that are subject to offsetting agreements.
(a) (b) (c)=(a)-(b) (d) (e)=(c)-(d)
Net amounts Related amount not
Gross amounts set off presented in the set off in the
Net amount, as perin the statement of statement of financial statement of financial
Dec. 31, 2014 Gross amounts financial position position position IFRS7
Financial assets 1,615 1,517 98 25 73
Financial liabilities (1,869) (1,517) (352) (25) (327) 5
(a) (b) (c)=(a)-(b) (d) (e)=(c)-(d)
Net amounts Related amount not
Gross amounts set off presented in the set off in the
Net amount, as perin the statement of statement of financial statement of financial
Dec. 31, 2013 Gross amounts financial position position position IFRS7
Financial assets 1,528 1,337 191 20 171
Financial liabilities (1,587) (1,337) (250) (20) (230)
235
2014 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC