Hubbell Policies

2. SOX key controls relevant to PPE are reviewed and tested annually.

3. PPE general ledger accounts are reviewed and reconciled at each period-end close.

4. Business process / financial performance reviews conducted at each period-end close.

Exceptions. Capitalization of interest costs during the construction period requires the approval of the Corporate Controller. In order to obtain a written exception to this policy, a written request must be submitted to the Corporate Controller that contains a compelling business reason for the exception. Exceptions granted by the Corporate Controller must be retained by the business unit as supporting documentation.

ACCOUNTING AND DISCLOSURE

None

REPORTING

None

DEFINITIONS

Property, Plant and Equipment shall mean includes all expenditures for real and personal property directly related to the acquisition or construction of, and the preparations for its intended use.

Available for use shall mean asset that is ready for its intended use, regardless of whether it is currently being used.

RELATED DOCUMENTS (Policies, Guidelines, Standards) • FIN-36 Property, Plant and Equipment Policy • FIN-07 Capitalization of Property, Plant and Equipment Policy • FIN-20 Depreciation of Property, Plant and Equipment Policy • FIN-08 Capitalization Software Costs Policy • FIN-03 Asset Impairments Policy • FIN-35 Property Plant and Equipment Dispositions Policy • FIN-26 Goodwill and Intangible Asset Policy • FIN-04 Authorization for Expenditure (AFE) Policy

VERSION

Version

Approval

Effective 2014.09.01 2019.08.15

Changes

1 2

J. Capozzoli, A. Hsieh, S. Mais J. Capozzoli, K. Lane, S. Mais

Original Issue

Conformed to new template

43