Logitech 2007 Annual Report Download - page 160

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LOGITECH INTERNATIONAL S.A., APPLES
NOTES TO SWISS STATUTORY FINANCIAL STATEMENTS
Note 1 — Basis of Presentation:
The Swiss statutory financial statements of Logitech International S.A. (“the Holding Company”) are
prepared in accordance with Swiss Law. The financial statements present the financial position and results of
operations of the Holding Company on a standalone basis and do not represent the consolidated financial position
of the Holding Company and its subsidiaries.
Note 2 — Contingent Liabilities:
Logitech International S.A. issued guarantees to various banks for CHF 97,936,700 for lines of credit
available to its subsidiaries. At March 31, 2007 the aforementioned credit line facilities were not drawn down.
Note 3 — Investments:
Principal operating subsidiaries include the following:
Company Country
%of
possession Currency Share capital Purpose
Logitech Europe S.A. ............... Switzerland 100 CHF 100,000 Administration, research,
development, sales and
distribution
Logitech Inc. ...................... USA 100 USD 11,522,396 Administration, research,
development, sales and
distribution
Logitech (Intrigue) Inc. .............. Canada 100 CAD 1,661,340 Research and
development
Logitech Technology (Suzhou) Co., Ltd. China ROC 100 USD 22,000,000 Research, development,
manufacturing and
distribution
All subsidiaries are directly or indirectly 100% owned by the Holding Company.
Note 4 — Treasury Shares:
During fiscal years 2006 and 2007, repurchases of and issuances from the Company’s treasury shares were
as follows (total cost in thousands):
Number of
shares Total cost
Held by the holding company at March 31, 2005 ........................... 14,642,188 CHF 217,873
Additions ...................................................... 12,275,514 307,223
Disposals ...................................................... (17,962,476) (286,389)
Over/ (under) valuation ........................................... (5,423)
Held by the holding company at March 31, 2006 ........................... 8,955,226 CHF 233,284
Additions ...................................................... 5,609,600 171,474
Disposals ...................................................... (5,201,187) (137,337)
Reverse valuation ................................................ 5,423
Held by the holding company at March 31, 2007 ........................... 9,363,639 CHF 272,844
LISA-5
CG
20-F