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CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

CONTENTS

5. Notes to the consolidated financial

statements

All amounts in millions of euros unless otherwise indicated.

The following notes are an integral part of the consolidated ﬁ nancial statements.

The Schneider Electric Group’s consolidated ﬁ nancial statements for the ﬁ nancial year ended December31, 2010

were drawn up by the Management Board on February14, 2011 and reviewed by the Supervisory Board on

February16, 2011. They will be submitted to shareholders for approval at the Annual General Meeting of April21, 2011.

The Group’s main business activities are described in Chapter1 of the Registration Document.

Note1

Accounting Policies 158

Note2

Changes in the scope of consolidation 167

Note3

Segment information 168

Note4

Research and development 170

Note5

Depreciation, amortisation and

provision expense 171

Note6

Other operating income and expenses 171

Note7

Restructuring costs 172

Note8

Amortisation and impairment of

purchase accounting intangibles 172

Note9

Other financial income and expense 172

Note10

Income tax expense 173

Note11

Goodwill 174

Note12

Intangible assets 176

Note13

Property, plant and equipment 178

Note14

Investments in associates 180

Note15

Financial assets 180

Note16

Deferred taxes by type 181

Note17

Inventories and work in progress 182

Note18

Trade accounts receivable 182

Note19

Other receivables and prepaid expenses 183

Note20

Cash and cash equivalents 183

Note21

Equity 183

Note22

Pensions and other post-employment

benefit obligations 191

Note23

Provisions 197

Note24

Total (current and non-current)

financial liabilities 198

Note25

Other non-current liabilities 200

Note26

Financial instruments 201

Note27

Employees 205

Note28

Related party transactions 206

Note29

Commitments and contingent liabilities 206

Note30

Subsequent events 207

Note31

Statutory Auditors’ fees 208

Note32

Consolidated companies 209

2010 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 157