APC 2012 Annual Report Download - page 246
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2012 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC244
COMPANY FINANCIAL STATEMENTS
6NOTES TO THE FINANCIAL STATEMENTS
Note14
Net financial income
Note13
Related-party transactions (minimum 10% interest)
Gross Net
Shares in subsidiaries and affi liates 4,603,076 4,497,571
Advances to subsidiaries and affi liates 4,178,597 4,178,597
Accounts receivable 954 728
Cash and cash equivalents 9,105,114 9,105,114
Interest-bearing liabilities --
Accounts payable --
Revenues:
• dividends 363,983
• interests 81,876
Dec.31, 2012 Dec.31, 2011
Dividends 371,978 1,436,419
Net interest income (expense) (146,716) (80,404)
Other (4,565) (3,789)
NET FINANCIAL INCOME 220,697 1,352,225
The main 2012 dividends received by Schneider Electric SA
were paid by its subsidiaries Schneider Electric Industries SAS
(EUR300million) and Cofi bel (EUR64million).
The Schneider Electric IndustriesSAS subsidiary paid a dividend of
EUR1,300million in2011.
Note15
Net non-recurring income/(expense)
Dec.31, 2012 Dec.31, 2011
Net gains/(losses) on fi xed asset disposals (7,247) 1,190,413
Provisions net of reversals (69,107) (16,689)
Other non-recurring income/(expense) 6,244 (859)
NET NON-RECURRING INCOME/(EXPENSE) (70,109) 1,172,864
The EUR7 million net gain on fi xed assets disposals is mainly
related to the sale of AXA investment for a EUR11million gain and
on the Schneider Electric SA shares allocation to plan n°26 for
EUR17million.
On December 31, 2012, the Company booked provisions for
impairment on its investment in Cofi bel for EUR63 million, in
Cofi mines for EUR8 million and in Schneider Electric Japan for
EUR18million. The provision of EUR17million booked in2011 for
the allocation of Schneider ElectricSA shares to grant shares plans
n°5 and n°8 was reversed in February2012.
On December31, 2012, “Other non-recurring income/(expense)”
corresponds to the EUR6million repayment received on litigation
GIS Siemens High Voltage in 2012 over the EUR8 million paid
in2007.