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

The fair value of investments quoted in an active market corresponds
to the price on the balance sheet date. The revaluation of listed
investments over the year has had a negative impact on other equity
reserves of EUR33 million.
15.2 - Other non-current financial assets
The Clipsal acquisition contract stipulates retaining part of the
acquisition price as a liability guarantee. This amount of EUR9 million
Note 16 Deferred taxes by type
Deferred taxes by type can be analysed as follows:
CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
appears on the balance sheet under “Other long-term debt”. This
amount has been placed in an escrow account by the Group and
appears under “Other non-current fi nancial assets”.
15.3 - Current financial assets
Current fi nancial assets total EUR38 million at December 31, 2010
and comprise short-term investments.
Dec. 31, 2010 Dec. 31, 2009
Deferred tax assets
Tax credits and tax loss carryforwards 387 387
Provisions for pensions and other post-retirement benefi t obligations 423 448
Impairment of receivables and inventory 183 123
Non-deductible provisions for contingencies and accruals 134 189
Other 392 269
Deferred tax assets set off against deferred tax liabilities (496) (406)
DEFERRED TAX ASSETS
Deferred tax liabilities
1,023 1010
Differences between tax and accounting depreciation (107) (89)
Trademarks and other intangible assets (897) (861)
Capitalised development costs (R&D) (56) (46)
Other (393) (337)
Deferred tax assets set off against deferred tax liabilities 496 406
TOTAL DEFERRED TAX LIABILITIES (957) (927)
Deferred tax assets recorded in respect of tax loss carryforwards at December 31, 2010 essentially concern France (EUR207 million) and
Belgium (EUR144 million).
2010 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 181
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