Connect - Schneider Electric

6 COMPANY FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
232
Note 14 Net financial income
2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC
Dec. 31, 2011 Dec. 31, 2010
Dividends 1,436,419 691,233
Net interest income (expense) (80,404) (177,272)
Other (3,789) (4,484)
NET FINANCIAL INCOME 1,352,225 509,477
The main 2011 dividends received by Schneider Electric SA were paid by its subsidiaries Schneider Electric Industries SAS (EUR1,300 million),
Cofi bel (EUR79 million) and Cofi mines (EUR50 million).
The Schneider Electric Industries SAS subsidiary paid a dividend of EUR672 million in 2010.
Note 15 Net non-recurring income/(expense)
Dec. 31, 2011 Dec. 31, 2010
Net gains/(losses) on fi xed asset disposals 1,190,413 (2,081)
Provisions net of reversals (16,889) 1,499
Other non-recurring income/(expense) (859) 1,173
NET NON-RECURRING INCOME/(EXPENSE) 1,172,864 592
The EUR1.2 billion net gain on fi xed assets disposals is mainly related to the sale of Schneider Electric trademark to Schneider Electric
Industries SAS.
In December 2011, the Company registered a EUR17 million provision related to the allocation of own shares to stock grants plan n°5 and 8.
Note 16 Net income tax benefit
The “income tax expense” line item in the statement of income
mainly consists of the Group tax relief recorded by the tax group
headed by Schneider Electric SA, net of 2011 income tax due by
EUR159 million. Group relief totalled EUR280 million in 2011, up on
the EUR73 million the prior fi nancial year.
Schneider Electric SA is the parent company of the tax group
comprising all French subsidiaries that are over 95%-owned. Tax
loss carryforwards available to the Company in this capacity totaled
EUR704 million at December 31, 2011.