APC 2015 Annual Report Download - page 207

2015 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 205
CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31,2015
5
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note6 Other operating income and expenses
Other operating income and expenses break down as follows:
Full year 2015 Full year 2014
Impairment losses on assets (246) (4)
Gains on asset disposals 21 9
Losses on asset disposals (12) (22)
Costs of acquisitions (118) (114)
Pension plan curtailments 53 95
Others (220) (69)
OTHER OPERATING INCOME AND EXPENSES (522) (106)
The impairment losses on assets in 2015 are mainly related to
the impairment of the Transportation business consecutive to the
expected divestment described in the note2.2.
The costs of acquisitions are the costs of acquisition, integration
and separation related to major acquisitions in2015 and 2014.
The line « Pension plan curtailments » includes mainly provision
releases in the United Kingdom, and in France.
The line«Others»includes mainly in 2015 losses on the disposal of
businesses, notably the divestment of Juno described in note2.2.
In2014, the line«Others» mainly includes provisions for litigation
or claims.
Note7 Restructuring costs
Restructuring costs totaled EUR318 million over the period. They mainly relate to industrial and support function reorganizations in all
geographies.
Note8 Amortization and impairment ofpurchase accounting intangibles
Full year 2015 Full year 2014
Amortization of purchase accounting intangibles (277) (259)
Impairment of purchase accounting intangibles (295) -
AMORTIZATION AND IMPAIRMENT OF PURCHASE ACCOUNTING INTANGIBLES (572) (259)
The migration of the Group’s brands towards the Schneider
Electric brand (One Brand project) has led to the amortization
from January1, 2010 of the Xantrex, TAC and MGE brands over
a six-year period. The corresponding amortization expense totaled
EUR61 million over the year. The brand Pelco has been impaired for
an amount of EUR295million.
Impairment tests performed in 2015 have not led to impairment
losses being recognized on the CGUs’ other assets. The sensitivity
analysis on the test hypothesis shows that no impairment losses
would be recognized in the following scenarios:
•a 0.5point increase of the discount rate;
•a 1.0point decrease in the growth rate;
•a 0.5point decrease in the margin rate.