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1592011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC

CONSOLIDATED FINANCIAL STATEMENTS

5

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

TABLE OF CONTENTS

Note1

Accounting Policies 160

Note2

Changes in the scope of consolidation 166

Note3

Segment information 168

Note4

Research and development 170

Note5

Depreciation and amortisation expenses 171

Note6

Other operating income and expenses 171

Note7

Restructuring costs 171

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 175

Note13

Property, plant and equipment 177

Note14

Investments in associates 179

Note15

Financial assets 179

Note16

Deferred taxes by type 180

Note17

Inventories and work in progress 180

Note18

Trade accounts receivable 181

Note19

Other receivables and prepaid expenses 181

Note20

Cash and cash equivalents 182

Note21

Equity 182

Note22

Pensions and other post-employment

benefit obligations 190

Note23

Provisions 196

Note24

Total (current and non-current)

financial liabilities 197

Note25

Other non-current liabilities 199

Note26

Financial instruments 200

Note27

Employees 204

Note28

Related party transactions 204

Note29

Commitments and contingent liabilities 205

Note30

Subsequent events 205

Note31

Statutory Auditors’ fees 206

Note32

Consolidated companies 207

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, 2011 were

drawn up by the Management Board on February17, 2012 and reviewed by the Supervisory Board on February21,

2012. They will be submitted to shareholders for approval at the Annual General Meeting of May3, 2012.

The Group’s main business activities are described chapter 1 of the Registration Document.

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5. Notes to the consolidated financial

statements