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5 CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL Note 23 Provisions Economic risks Customer risks 196 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC Products risks Environmental risks Restructuring Other risks Provisions Dec 31, 2009 418 80 264 44 210 132 1,148 Long-term portion 131 31 79 27 28 80 375 Additions 117 18 150 3 39 75 402 Discounting effect - - 1 - - (4) (3) Utilizations Reversals of surplus (36) (9) (95) (2) (124) (34) (300) provisions (75) (9) (17) - (19) (8) (128) Translation adjustments Changes in the scope 16 4 16 2 5 3 46 of consolidation and other 174 2 90 8 13 12 299 Dec 31, 2010 614 86 409 55 124 176 1,464 Long-term portion 275 35 104 26 21 127 588 Additions 159 5 143 8 87 69 471 Discounting effect 1 - - - - - 1 Utilizations Reversals of surplus (82) (8) (109) (5) (77) (60) (341) provisions (53) (6) (29) (1) (9) (38) (136) Translation adjustments Changes in the scope 8 1 3 - - 2 14 of consolidation and other 92 9 3 - 12 51 167 Dec 31, 2011 739 87 420 57 137 200 1,640 Long-term portion 388 34 81 28 18 131 680 (a) Economic risks These provisions cover, in particular, tax risks arising from audits performed by local tax authorities and fi nancial risks arising primarily on guarantees given to third parties in relation to certain assets and liabilities. Variations in scope of consolidation and others amount to EUR92 million and are principally related to Leader & Harvest, Steck and Luminous acquisitions . (b) Customer risks These provisions are primarily established to covers risks arising from products sold to third parties. This risk mainly consists of claims based on alleged product defects and product liability. Provisions for customer risks also integrate the provisions for losses at completion for a number of long term contracts, for EUR18 million. (c) Product risks These provisions comprise: • statistical provisions for warranties: the Group funds provisions on a statistical basis for the residual cost of <strong>Schneider</strong> <strong>Electric</strong> product warranties not covered by insurance; • provisions for disputes over defective products; • provisions to cover disputes related to recalls of clearly identifi ed products. (d) Environmental risks These provisions are primarily funded to cover cleanup costs.
Note 24 Total (current and non-current) financial liabilities Non-current fi nancial liabilities break down as follows: CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL Dec. 31, 2011 Dec. 31, 2010 Bonds 5,540 4,348 Bank and other borrowings 1,464 1,379 Lease liabilities 7 15 Employees profi t sharing 12 10 Short-term portion of convertible and non-convertible bonds - (503) Short-term portion of long-term debt (96) (239) NON-CURRENT FINANCIAL LIABILITIES 6,927 5,010 Current fi nancial liabilities break down as follows: Dec. 31, 2011 Dec. 31, 2010 Commercial paper 190 - Accrued interest 132 110 Other short-term borrowings 475 170 Drawdown of funds from lines of credit - - Bank overdrafts 217 93 Short-term portion of convertible and non-convertible bonds - 503 Short-term portion of long-term debt 96 239 Short-term debt 1,110 1,115 TOTAL CURRENT AND NON-CURRENT FINANCIAL LIABILITIES 8,037 6,125 24.1 – Breakdown by maturity Dec.31, 2011 Dec.31, 2010 Nominal Interests Swaps Nominal 2011 1,115 2012 1,110 285 46 104 2013 1,181 256 27 1,085 2014 1,158 187 5 767 2015 998 133 7 980 2016 792 120 - 546 2017 and beyond 2,798 171 - 1,528 TOTAL 8,037 1,152 85 6,125 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 197 5
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Registration Document 2011 Financia
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Registration Document Financial and
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distinctions that are both an achie
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Interview with Schneider Electric r
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Supervisory Board (as of February 2
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Sales by geography 18% Rest of the
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2011 in brief Growth and acquisitio
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and IT managers will now be able to
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1 Description of the Group, and its
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1.3 The emergence of sustainable ci
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DESCRIPTION OF THE GROUP, AND ITS S
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2. Leader in an industry of the fut
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Specifiers: in search of efficient
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3.2 A platforms strategy The growin
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Diversified partnerships In additio
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4. Organisational simplicity DESCRI
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These procedures include quarterly
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The Group may be exposed to the ris
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Legal risks The Group’s products
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• in North America, a captive ins
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2 Sustainable development 1. Sustai
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Open dialogue with stakeholders Cus
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2 SUSTAINABLE DEVELOPMENT SUSTAINAB
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2 SUSTAINABLE DEVELOPMENT SUSTAINAB
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2 SUSTAINABLE DEVELOPMENT GREEN AND
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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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2 SUSTAINABLE DEVELOPMENT 106 REGIS
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3 SUPERVISORY CORPORATE GOVERNANCE
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3 CORPORATE GOVERNANCE SUPERVISORY
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3 CORPORATE GOVERNANCE ORGANISATION
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3 CORPORATE GOVERNANCE MANAGEMENT B
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3 CORPORATE GOVERNANCE MANAGEMENT I
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3 CORPORATE GOVERNANCE REGULATED AG
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3 CORPORATE GOVERNANCE INTERNAL CON
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142 2011 REGISTRATION DOCUMENT SCHN
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4 TRENDS BUSINESS REVIEW IN SCHNEID
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GENERAL PRESENTATION OF SCHNEIDER E
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7 GENERAL PRESENTATION OF SCHNEIDER
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8 MANAGEMENT ANNUAL AND EXTRAORDINA
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8 ANNUAL AND EXTRAORDINARY SHAREHOL
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ANNUAL AND EXTRAORDINARY SHAREHOLDE
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274 PERSONS RESPONSIBLE FOR THE REG
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Schneider Electric SA Headquarters:
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