Connect - Schneider Electric

5 CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO THE CONSOLIDATED FINANCIAL
Note 20 Cash and cash equivalents
182 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC
Dec. 31, 2011 Dec. 31, 2010
Marketable securities 634 1,825
Negotiable debt securities and short-term deposits 622 115
Cash and cash equivalents 1,515 1,449
Total cash and cash equivalents 2,771 3,389
Bank overdrafts (217) (93)
NET CASH AND CASH EQUIVALENTS 2,554 3,296
Note 21 Equity
21.1 – Capital
Share capital
At the Annual General Meeting held on April 21, 2011 Schneider
Electric shareholders approved the division of the nominal value of
the shares by two. The operation took effect on September 2, 2011
and resulted in the issuance of 271,959,091 new shares.
The Company’s share capital at December 31, 2011 amounted to
EUR2,195,772,096, represented by 548,943,024 shares with a par
value of EUR4, all fully paid up.
Changes in share capital
Changes in share capital since December 31, 2010 were as follows:
At December 31, 2011, a total of 548,722,100 voting rights were
attached to the 548,943,024 shares outstanding.
Schneider Electric’s capital management strategy is designed to:
• ensure Group liquidity;
• optimise its fi nancial structure;
• optimise the weighted average cost of capital.
The strategy must also ensure the Group has access to different
capital markets under the best possible conditions. Factors taken
into account for decision-making purposes include objectives
expressed in terms of earnings per share, ratings or balance sheet
stability. Finally, decisions may be implemented depending on
specifi c market conditions.
Cumulative number of shares Total (in euros)
Capital at Dec. 31, 2010 271,959,091 2,175,672,728
Division of the par value by two 271,959,091 -
Exercise of stock options 1,169,210 4,676,840
Employee share issue 3,855,632 15,422,528
CAPITAL AT DEC. 31, 2011 548,943,024 2,195,772,096
The share premium account increased by EUR194,755,657 following the exercise of options and the increases in capital.