Registration Document BOUYGUES

NOTE 18 • AVERAGE NUMBER OF EMPLOYEES
DURING THE YEAR
2011 2010
Managerial staff 144 141
Administrative, clerical, technical and supervisory staff 40 41
Total 184 182
NOTE 19 • ADVANCES, LOANS AND REMUNERATION
PAID TO DIRECTORS AND SENIOR EXECUTIVES
Remuneration of directors and senior executives:
> The total amount of direct and indirect remuneration of all kinds received from French and foreign companies by
senior executives (Chairman and Chief Executive Officer, and Deputy Chief Executive Officer) was as follows:
€1.5 million of basic remuneration, €2.1 million of variable remuneration paid in March 2012 based on 2011 performance,
and €0.15 million of directors' fees.
> Directors’ fees paid to members of the Board of Directors (including non-voting directors): €0.50 million
NOTE 20 • LIST OF INVESTMENTS
Number of
shares
%
Estimated
realisable value
Alstom 90,543,867 30.745 3,697 (a)
Bouygues Construction 1,705,132 99.936 763 (c)
Bouygues Immobilier 90,924 99.993 547 (c)
Bouygues Telecom 36,086,799 89.184 4,600 (a)
Colas 31,526,344 96.545 2,408 (c)
TF1 91,946,297 43.570 732 (a)
Other holdings 259
Total holdings in subsidiaries and affiliates 13,006
Negotiable debt instruments
and money-market mutual funds 1,854 (a)
Capitalisation bonds
104 (b)
Other investments
13 (b)
Total short-term investments 1,971
Total investments 14,977
The estimated realisable value shown is:
(a) Carrying amount in the balance sheet (net book value)
(b) Stock market value (closing price for equities)
(c) Share of consolidated net assets
BOUYGUES • 2011 Registration Document • FINANCIAL STATEMENTS • Parent company financial statements • 278