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

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5 CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 206 27.3 - Benefits granted to senior executives In 2010, the Group paid EUR0.64 million in attendance fees to the members of its Supervisory Board. The total amount of gross remuneration, including benefi ts in kind, paid in 2010 by the Group to the members of Senior Management excluding members of the Management Board totaled EUR9 million, of which EUR3.9 million corresponded to the variable portion. Note 28 Related party transactions 28.1 - Associates Companies over which the Group has significant influence, accounted for by the equity consolidation method. Transactions with these related parties are carried out on arm’s length terms. Related party transactions were not material in 2010. Note 29 Commitments and contingent liabilities 29.1 - Guarantees and similar undertakings During the last three periods, 279,500 stock options and 185,000 stock grants have been allocated to members of Senior Management. Pension obligations with respect to members of Senior Management amounted to EUR73 million at December 31, 2010 versus EUR68 million at December 31, 2009. Please refer to Chapter 3 section 8 of the Registration Document for more information regarding the members of Senior Management. 28.2 - Related parties with signigicant influence No transactions were carried out during the year with members of the Supervisory Board or Management Board. Compensation and benefi ts paid to the Group’s top senior executives are described in note 27.3. Dec. 31, 2010 Dec. 31, 2009 Market counter guarantees (1) 880 469 Pledges, mortgages and sureties (2) 17 16 Endorsements and guarantees 6 10 Other commitments given (3) 175 176 GUARANTEES GIVEN 1,078 671 Endorsements and guarantees received 80 64 GUARANTEES RECEIVED 80 64 (1) On certain contracts, customers require a guarantee from a bank that the contract will be fully executed by the Group. For these contracts the Group gives a counterguarantee to the bank. If a claim occurs, the risk linked to the commitment is assessed and a provision for contingencies is recorded when the risk is considered probable and can be reasonably estimated. (2) Certain loans are secured by property, plant and equipment and securities lodged as collateral. (3) Other guarantees given comprise guarantees given in rental payments. 2010 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC
In 2010, the consolidation of Areva Distribution assets contributed to an increase in commitments given of EUR256 million. 29.2 - Purchase commitments Shares in subsidiaries and affiliates Commitments to purchase equity investments correspond to put options given to minority shareholders in consolidated companies or relate to earn-out payments. The amount of these commitments was not material at December 31, 2010. Information technology services The Group is party to an agreement with Capgemini providing for outsourcing (facilities management) of certain of its information technology functions in Europe and deployment of a system of shared SAP management applications. The fi rst pilot version of the global system was implemented in India in April 2007 and the second version was deployed in mid-2008 in several European pilot countries. At the end of 2010, <strong>Schneider</strong> <strong>Electric</strong> had capitalised total costs (net of impairment) of EUR142 million. The costs are progressively amortised with effect from 2009, over a 7-year rolling calendar and based on the number of users connected worldwide as the system is deployed. Note 30 Subsequent events Acquisition of APW in India On January 7, 2011 the Group announced the signature of an agreement for the acquisition of the majority of the share capital of APW President Systems Limited, a company specialising in the design and manufacture of standard or custom-built electric bays and cabinets for use in particular by telecom and information technology end customers in India. APW President Systems Limited CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For 2010, the contractual facilities management costs amount to EUR103 million including the volume and indexing factors provided for by the contract (EUR119 million for 2009). 29.3 - Contingent liabilities Senior Management believes that the provisions recognised in the balance sheet, in respect of the known claims and litigation to which the Group is a party, should be adequate to ensure that such claims and litigation will not have any substantial impact on the Group’s fi nancial position or results. This is notably the case for the potential consequences of a current dispute in Belgium involving former senior executives and managers of the Group. The Group has entered into a company-wide agreement in respect of individual training entitlement. It has applied the French accounting treatment recommended by opinion 2004-F issued by the CNC’s urgent issues committee. Expenditure on individual training is written off as an expense during the period and therefore no provision is made for it. As of December 31, 2010, rights accrued but not used by employees of French entities of the Group corresponded to around 1,417,000 hours. employs around 380 people and achieved estimated revenue of INR1.08 billion (about EUR17 million) for the twelve month period to end September 2010. The company has manufacturing facilities in Bangalore and Pune, a large customer portfolio and a network of sales offi ces in India. 2010 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 207 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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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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3 CORPORATE GOVERNANCE APPLICATION
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4 BUSINESS REVIEW TRENDS IN SCHNEID
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4 BUSINESS REVIEW REVIEW OF THE CON
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4 BUSINESS REVIEW REVIEW OF THE CON
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4 BUSINESS REVIEW REVIEW OF THE PAR
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4 BUSINESS REVIEW 148 2010 REGISTRA
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5 CONSOLIDATED FINANCIAL STATEMENTS
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7 GENERAL PRESENTATION OF SCHNEIDER
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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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