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2015 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC194

CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31,2015

5NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

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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, 2015

were drawn up by the board of directors on February16, 2016. They will be submitted to shareholders for approval at

the Annual General Meeting of April25, 2016.

The Group’s main businesses are described in chapter1 of the registration document.

Note1

Accounting Policies 195

Note2

Changes in the scope of consolidation 201

Note3

Segment information 202

Note4

Research and development 204

Note5

Depreciation and amortization expenses 204

Note6

Other operating income and expenses 205

Note7

Restructuring costs 205

Note8

Amortization and impairment

ofpurchase accounting intangibles 205

Note9

Other financial income and expense 206

Note10

Income tax expense 206

Note11

Goodwill 207

Note12

Intangible assets 208

Note13

Property, plant and equipment 210

Note14

Investments in associates 213

Note15

Financial assets 213

Note16

Deferred taxes by type 214

Note17

Inventories and work in progress 215

Note18

Trade accounts receivable 215

Note19

Other receivables and prepaid expenses 216

Note20

Cash and cash equivalents 216

Note21

Equity 217

Note22

Pensions and other post-employment

benefit obligations 223

Note23

Provisions 228

Note24

Total (current and non-current)

financial liabilities 229

Note25

Other non-current liabilities 231

Note26

Financial instruments 232

Note27

Employees 237

Note28

Related party transactions 237

Note29

Commitments and contingent liabilities 238

Note30

Subsequent events 238

Note31

Statutory auditors’ fees 239

Note32

Consolidated companies 240