APC 2014 Annual Report Download - page 267

COMPANY FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
Net income tax benefit Note16
The «income tax expense» line item in the statement of income Schneider Electric SE is the parent company of the tax Group
mainly consists of the Group tax relief recorded by the tax Group comprising all French subsidiaries that are over 95%-owned. Tax
headed by Schneider ElectricSE, net of2014 income tax due, for loss carryforwards available to the company in this capacity totaled
EUR83million, EUR4million less than last year. EUR908million at December31, 2014.
Off-balance sheet commitments Note17
17.1 – Partnership obligations 17.2 – Guarantees given and received
The share of liabilities of «SC» non-trading companies attributable
Commitments given
to Schneider Electric SE as partner is not material. Counter-guarantees of bank guarantees: None
The share of liabilities of «SNC» flow-through entities attributable Other guarantees given: EUR2,553million
to Schneider Electric SE as partner is not material.
Commitments received
Bank counter-guarantees: None
17.3 – Financial instruments
Schneider Electric Group hedging transactions, exchange guarantees and the establishment of financial instruments are carried out by the
manager of the Group cash pool, Boissière Finance, a wholly-owned subsidiary of Schneider Electric IndustriesSAS, which in turn is
wholly-owned by Schneider ElectricSE. Nevertheless, Schneider Electric SE has arranged fixed-rate/floating-rate interest rate swaps to
hedge certain bond issues, the market value of which is as follows:
Hedging instrument
Underlying (in thousands of euros)
Impact on net
Type Face value Maturity Market valuefinancial income
Schuldschein EUR129,000,000 May21, 2015 (5,680) (1,966)
TOTAL (5,680) (1,966)
Other information Note18
18.1 – Workforce 18.3 – Subsequent events
At December31, 2014, the company had two employees. At the date of financial statements approval by the board of
directors, there is no material subsequent event.
18.2 – Consolidated financial statements 6
Schneider Electric SE is the parent company of the Group and
accordingly publishes the consolidated financial statements of the
Schneider Electric Group.
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2014 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC