APC 2011 Annual Report Download - page 227
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2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 225
COMPANY FINANCIAL STATEMENTS
6
NOTES TO THE FINANCIAL STATEMENTS
2.2 – Other investment securities
Other investment securities Dec.31, 2010 Increases Decreases Dec.31, 2011
Schneider ElectricSA shares 48,778 - - 48,778
Other 111,303 - - 111,303
Provisions for other shares (77) - - (77)
NET 160,004 - - 160,004
2.3 – Advances to subsidiaries and affiliates
Advances to subsidiaries and affi liates Dec.31, 2010 Increases Decreases Dec.31, 2011
Cost 3,140,038 548,584 (81,915) 3,606,707
Provisions (61) - - (61)
NET 3,139,977 548,584 (81,915) 3,606,646
Other investment securities primarily include Schneider ElectricSA
shares acquired for allocation on the exercise of certain stock
options. Schneider Electric SA has not reclassifi ed own shares
allocated to this line item as of December31, 2004. However, since
then, all purchases made for allocation to stock option plans have
been classifi ed as marketable securities.
On September2, 2011, the nominal value of the shares was divided
by two. As a consequence, the number of own shares recognised
under “Other investment securities” is 1,994,154 versus 997,077
shares at December 31,2010, representing a gross value of
EUR49million.
“Other” shares primarily consist of EUR111million of AXA shares.
The other investments included in this item have been fully
writtendown.
At December31, 2011, this item mainly consisted of two loans totaling EUR3billion granted to Schneider Electric IndustriesSAS, repayable
in 2011 and 2015, of three loans granted to Boissière Finance for a total amount of EUR456million with maturity date 2016 and of accrued
interest of EUR50million.
Note3
Other receivables
Other receivables Dec.31, 2011 Dec.31, 2010
Cost 180,085 230,307
Provisions (45,256) (45,260)
NET 134,829 185,047
“Other receivables” primarily consist of the EUR280million in group tax relief, net of EUR210million in advances to subsidiaries, representing
a net amount of EUR70million.
As of December31, 2011, line item still included EUR45million in disputed receivables, all fully written down.