This Report summarizes the proceedings of the 2015 Les Houches workshop on
Physics at TeV Colliders. Session 1 dealt with (I) new developments relevant
for high precision Standard Model calculations, (II) the new PDF4LHC parton
distributions, (III) issues in the theoretical description of the production of
Standard Model Higgs bosons and how to relate experimental measurements, (IV) a
host of phenomenological studies essential for comparing LHC data from Run I
with theoretical predictions and projections for future measurements in Run II,
and (V) new developments in Monte Carlo event generators.