Hubbell Policies

REPORTING None DEFINITIONS Corporate Published Month-end Exchange Rate shall mean month-end exchange rate sent via e-mail by the Corporate Finance group. Document Currency shall mean currency in which a document is posted in the general ledger. Functional Currency shall mean an entity's functional currency is the currency of the primary economic environment in which the entity operates; normally that is the currency of the environment in which an entity primarily generates and expends cash. This assessment and determination is made by the Corporate office. Local Currency Only designation shall mean an account designation whereby the only document currency used is the entity's functional currency. Monetary Accounts shall mean an asset or liability that represents a claim to receive or pay a specified amount. This includes: Cash and cash equivalents, Receivables, Payables, Loans. Nonmonetary Accounts shall mean any account not meeting the definition of a monetary account. This includes: Fixed assets (including construction in progress) and related depreciation, Prepaids, Inventory, Goodwill, Intangible assets and related amortization, Investments in affiliates, Deferred charges/income, Equity accounts. Open Item management shall mean a SAP term referring to a stipulation that the items in an account must be used to clear other line items in the same account. Transaction Variant shall mean transaction variants are used within SAP to predefine the fields of a transaction. A transaction variant can be defined and saved to be used when executing a future transaction. RELATED DOCUMENTS (Policies, Guidelines, Standards) • FIN-25 Foreign Currency Exchange Policy • FIN-24 Financial Statement Translation Policy VERSION Version Approval Effective Changes 1 J. Capozzoli, A. Hsieh, S. Mais 2014.08.01 Original Issue 2 J. Capozzoli, K. Lane, S. Mais 2019.08.01 Conformed to new template

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