SCH2017_DRF_EN_Livre.indb

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Consolidated financial statements at December 31, 2017 Notes to the consolidated financial statements

15.2 – Current financial assets Current financial assets total EUR32 million at December 31, 2017 and include short-term investments in pension funds.

Deferred taxes by type

NOTE 16

Deferred taxes by type can be analyzed as follows:

Dec. 31, 2017

Dec. 31, 2016

Tax credits and tax loss carryforwards (net)

683 332 273 (45)

947 444 296

Provisions for pensions and other post-retirement benefit obligations (net) Non-deductible provisions for contingencies and accruals (net) Differences between tax and accounting depreciation on tangible assets (net) Differences between tax and accounting amortization on intangible assets (net)

(116) (749)

(625)

Differences on working capital (net) Deferred tax at other/reduced tax rates Other deferred tax assets/(liabilities) (net)

277

271 123 (10)

63

143

TOTAL NET DEFERRED TAX ASSETS/(LIABILITIES)

1,101

1,206

Of which: Total deferred tax assets Total deferred tax liabilities

2,097 (996)

2,573

(1,367)

Deferred tax assets recorded in respect of tax loss carried forward at December 31, 2017 essentially concern France (EUR531 million).

2017 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC

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