APC 2015 Annual Report Download - page 239

2015 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 237
CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31,2015
5
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note27 Employees
27.1– Employees
The average number of permanent and temporary employees was as follows in2014 and 2015:
(number of employees) Dec.31,2015 Dec.31,2014
Production 97,925 95,213
Administration 83,437 90,752
TOTAL AVERAGE NUMBER OF EMPLOYEES 181,362 185,965
By region:
EMEAS* 81,737 85,415
North America 32,990 34,940
Asia-Pacifi c 66,635 65,610
* Europe, Middle-East, Africa, SouthAmerica.
The decrease in the average number of employees is primarily linked to 2015 disposals.
27.2– Employee benefits expense
Full year 2015 Full year 2014
Payroll costs (6,720) (6,203)
Profi t-sharing and incentive bonuses (53) (57)
Stock options (97) (86)
WESOP --
EMPLOYEE BENEFITS EXPENSE (6,870) (6,346)
27.3– Benefits granted to senior executives
In 2015, the Group paid EUR1.23 million in attendance fees to
the members of its board of directors. The total amount of gross
remuneration, including benefi ts in kind, paid in 2015 by the Group
to the members of Senior Management, excluding executive
directors, totaled EUR17.4 million, of which EUR7.5 million
corresponded to the variable portion.
During the last three periods, 695, 000 performance shares have
been allocated to members of Senior Management, excluding
executive directors . No stock options have been granted to
members of Senior Management during the last three fi nancial
years . Performance shares were allocated under the 2015 long- term
incentive plan. Since December16, 2011, 100% of performance
shares and/or stock options are conditional on the achievement of
performance criteria for members of the Executive Committee.
Pension obligations net of assets with respect to members of
Senior Management amounted to EUR10 million at December31,
2015 versus EUR36million at December31, 2014.
Please refer to Chapter3 Section8 of the registration document for
more information regarding the members of Senior Management.
Note28 Related party transactions
28.1– Associates
Companies over which the Group has signifi cant infl uence are
accounted through the equity consolidation method. Transactions
with these related parties are carried out on arm’s length terms.
Over the period, the Group received from its investment in associate
Custom Sensors& Technologies Topco Limited EUR90million of
dividends, and EUR23million of vendor loan early repayment,
Other transactions with associates are not material.
28.2– Related parties with significant
influence
No transactions were carried out during the year with members of
the supervisory board or management board.
Compensation and benefi ts paid to the Group’s top senior
executives are described in note27.3.