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

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5 CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 182 Note 17 Inventories and work in progress Inventories and work in process changed as follows: Dec. 31, 2010 Dec. 31, 2009 Cost: Raw materials 1,461 947 Work in progress 559 317 Semi-fi nished and fi nished products 1,384 1,124 Goods 84 67 INVENTORIES AND WORK IN PROGRESS AT COST Impairment: 3,488 2,455 Raw materials (169) (124) Work in progress (20) (15) Semi-fi nished and fi nished products (147) (131) Goods (13) (11) IMPAIRMENT Net: (349) (281) Raw materials 1,292 823 Work in progress 539 302 Semi-fi nished and fi nished products 1,237 993 Goods 71 56 INVENTORIES AND WORK IN PROGRESS, NET 3,139 2,174 Note 18 Trade accounts receivable Dec. 31, 2010 Dec. 31, 2009 Accounts receivable 4,276 2,923 Notes receivable 265 231 Advances to suppliers 98 57 Accounts receivable at cost 4,639 3,211 Impairment (198) (140) Accounts receivable, net Of which: 4,441 3,071 On time 3,658 2,499 Less than one month past due 326 257 One to two months past due 126 113 Two to three months past due 100 59 Three to four months past due 79 42 More than four months past due 152 101 ACCOUNTS RECEIVABLE, NET 4,441 3,071 Accounts receivable result from sales to end-customers, who are widely spread both geographically and economically. Consequently, the Group believes that there is no signifi cant concentration of credit risk. 2010 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC In addition, the Group takes out substantial credit insurance and uses other types of guarantees to limit the risk of losses on trade accounts receivable.
Changes in provisions for impairment of short and long-term trade accounts receivable were as follows: CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Dec. 31, 2010 Dec. 31, 2009 Provisions for impairment on January 1 (140) (120) Additions (47) (37) Utilisations 23 18 Reversals of surplus provisions 3 2 Translation adjustments (10) 1 Other (27) (4) PROVISIONS FOR IMPAIRMENT ON DECEMBER 31 (198) (140) Note 19 Other receivables and prepaid expenses Dec. 31, 2010 Dec. 31, 2009 Other receivables 236 217 Other tax credits 698 438 Derivative instruments 118 57 Prepaid expenses 160 159 TOTAL 1,212 871 Note 20 Cash and cash equivalents Dec. 31, 2010 Dec. 31, 2009 Marketable securities 1,825 2,681 Negotiable debt securities and short-term deposits 115 23 Cash and cash equivalents 1,449 808 Total cash and cash equivalents 3,389 3,512 Bank overdrafts (93) (87) NET CASH AND CASH EQUIVALENTS 3,296 3,425 Note 21 Equity 21.1 - Capital Share capital The Company’s share capital at December 31, 2010 amounted to EUR2,175,672,728, represented by 271,959,091 shares with a par value of EUR8, all fully paid up. At December 31, 2010, a total of 287,955,220 voting rights were attached to the 271,959,091 shares outstanding. <strong>Schneider</strong> <strong>Electric</strong>’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. 2010 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 183 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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3 CORPORATE GOVERNANCE MANAGEMENT I
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3 CORPORATE GOVERNANCE INTERNAL CON
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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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