Connect - Schneider Electric

6 COMPANY FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
224
Currency risk
Where necessary, a contingency provision is in place for unrealised
exchange losses. However, where there are unrealised exchange
gains and losses on back-to-back transactions in the same
currency and with the same maturity, the amount of the provision is
then limited to the net loss.
Note 1 Non-current assets
1.1 – Intangible assets
This item primarily consists of share issue and merger expenses, which are fully amortised.
1.2 – Tangible assets
Note 2 Investments
2.1 – Shares in subsidiaries and affiliates
Shares in subsidiaries and affi liates Dec. 31, 2010 Additions Disposals Dec. 31, 2011
Cost 4,608,104 21,556 (22,448) 4,607,212
Provisions (17,896) - - (17,896)
NET 4,590,208 21,556 (22,448) 4,589,316
The main changes over the fi nancial year are mainly related to the transfer of Digital Holding shares towards Schneider Electric Japan Holding
for EUR21 million and to acquisition of Cofi bel shares and Cofi mines shares.
On December 29, 2011, the Company carried out the disposal of investments Industrielle de Réassurance for EUR1 million.
The main investments at December 31 , 2011 were as follows:
2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC
Bonds
Redemption premiums and issue costs are amortised over the life
of the bonds.
Tangible assets Dec. 31, 2010 Additions Disposals Dec. 31, 2011
Cost 4,480 - (10) 4,470
Depreciation (290) - - (290)
NET 4,190 - (10) 4,180
Shares in subsidiaries and affi liates Carrying value
Schneider Electric Industries SAS 4,344,481
Cofi bel 137,210
Cofi mines 82,655
Schneider Electric Japan Holding 21,249
Other (less than EUR20 million) 3,721
TOTAL 4,589,316