2010Annual Report - Schneider Electric CZ, s.r.o.

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5 CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 172 Note 7 Restructuring costs Restructuring costs totaled EUR96 million over the period. They mainly relate to industrial and support function reorganisations in Europe (approximately EUR54 million) and in North America (approximately EUR22 million). Note 8 Amortisation and impairment of purchase accounting intangibles 2010 2009 Amortisation of purchase accounting intangibles (213) (109) Impairment of purchase accounting intangibles - (32) Goodwill impairment (15) (90) AMORTISATION AND IMPAIRMENT OF PURCHASE ACCOUNTING INTANGIBLES (228) (231) The amortisation of purchase accounting intangibles, which totaled EUR213 million over the period, includes EUR43 million that correspond to the Areva Distribution business. The migration of the Group’s brands towards the Schneider Electric brand (One Brand project) has led to the amortisation from January 1, 2010 of the Xantrex, TAC and MGE brands over a six-year period. The corresponding amortisation expense totaled EUR56 million over the year. Impairment losses totaling EUR15 million are recognised on Note 9 Other financial income and expense goodwill relating to two small businesses in Europe currently being sold. Impairment tests performed on all the Group’s CGUs have not led to impairment losses being recognised. Analysis of the test’s discount rate sensitivity shows impairment losses would not be recognised in the case of a 0.5 point increase in the discount rate. 2010 2009 Exchange gains and losses, net 25 (1) Financial component of defi ned benefi t plan costs (49) (56) Dividends 9 7 Net gains/(losses) on disposal of long-term investments 3 (3) Other fi nancial expense, net (53) (34) OTHER FINANCIAL INCOME AND EXPENSE (65) (87) Dividends are mainly received on AXA shares. In July 2010, Schneider Electric partially bought back its July 2013 bond. This transaction generated a one-off expense of EUR36 million, presented under Other fi nancial expense, net. 2010 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC
Note 10 Income tax expense CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Whenever possible, Group entities fi le consolidated tax returns. Schneider Electric SA has chosen this option for the French subsidiaries it controls directly or indirectly through Schneider Electric Industries SAS. 10.1 - Analysis of income tax expense 2010 2009 Current taxes France (23) (13) International (598) (398) Total (621) (411) Deferred taxes France 6 151 International 49 (35) Total 55 116 INCOME TAX (EXPENSE)/BENEFIT (566) (295) 10.2 - Tax proof 2010 2009 Profi t attributable to owners of the parent 1,720 824 Income tax (expense)/benefi t (566) (295) Non-controlling interests (76) (42) Share of profi t of associates 6 (21) Profi t before tax 2,356 1,182 Statutory tax rate 34.43% 34.43% Income tax expense calculated at the statutory rate Reconciling items: (811) (407) Difference between French and foreign tax rates 196 122 Tax credits and other tax reductions 62 89 Impact of tax losses 1 (21) Other permanent differences (14) (78) Income tax (expense)/benefi t (566) (295) EFFECTIVE TAX RATE 24.0% 25.0% 2010 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 173 5
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2010 Annual Report Schneider Electr
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Registration Document Annual Report
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A signifi cant improvement in profi
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Interview with 2010 marks the retur
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Supervisory Board (as of February 1
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Sales by geographical area 18% Rest
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2010 in brief Growth and acquisitio
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On October 1, 2010 IBM and Schneide
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1 Description of the Group, and its
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1. 3 The emergence of new economies
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DESCRIPTION OF THE GROUP, AND ITS S
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Utilities and Infrastructures: ensu
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2. 3 Leadership in our five sectors
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The Buildings business Number 4 wor
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Panel builders and systems integrat
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3. Innovation and R&D: DESCRIPTION
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3. 4 Partnerships to accelerate pro
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DESCRIPTION OF THE GROUP, AND ITS S
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Rationalisation and optimisation of
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4. 4 Global, selective purchasing P
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The Group’s human resources strat
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on our increased costs to customers
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Insurance Schneider Electric’s st
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2 Sustainable development 1. Sustai
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2 SUSTAINABLE DEVELOPMENT SUSTAINAB
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2 SUSTAINABLE DEVELOPMENT 50 > Zoom
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2 SUSTAINABLE DEVELOPMENT SUSTAINAB
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2 SUSTAINABLE DEVELOPMENT RESPECT F
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2 SUSTAINABLE DEVELOPMENT SCHNEIDER
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2 SUSTAINABLE DEVELOPMENT COMMITTED
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2 SUSTAINABLE DEVELOPMENT METHODOLO
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SUSTAINABLE DEVELOPMENT 2 INDICATOR
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3 CORPORATE GOVERNANCE SUPERVISORY
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3 CORPORATE GOVERNANCE ORGANISATION
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3 CORPORATE GOVERNANCE ORGANISATION
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Page 152 and 153: 5 CONSOLIDATED FINANCIAL STATEMENTS
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5 CONSOLIDATED FINANCIAL STATEMENTS
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6 COMPANY FINANCIAL STATEMENTS BALA
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6 COMPANY FINANCIAL STATEMENTS STAT
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6 COMPANY FINANCIAL STATEMENTS NOTE
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6 COMPANY FINANCIAL STATEMENTS STAT
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6 COMPANY FINANCIAL STATEMENTS SUBS
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6 COMPANY FINANCIAL STATEMENTS THE
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7 GENERAL PRESENTATION OF SCHNEIDER
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GENERAL PRESENTATION OF SCHNEIDER E
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GENERAL PRESENTATION OF SCHNEIDER E
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8 ANNUAL AND EXTRAORDINARY SHAREHOL
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ANNUAL AND EXTRAORDINARY SHAREHOLDE
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288 PERSONS RESPONSIBLE FOR THE REG
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Schneider Electric SA Headquarters:
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2010Annual Report - Schneider Electric CZ, s.r.o.

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