Notes to the Consolidated Financial Statements
1. Basic information and principles of the report
2. Changes in Group structure
3. Summary of significant accounting policies
4. Risk assessment and management
5. Management of capital
6. Trade accounts receivable
7. Other current assets and current financial assets
8. Inventories
9. Property, plant and equipment
10. Other non-current assets and non-current financial assets
11. Goodwill and intangible assets
12. Short-term debt
13. Other current liabilities and provisions
14. Long-term debt
15. Financial instruments
16. Retirement benefit plans
17. Participation plans
18. Deferred tax assets and liabilities
19. Other non-current liabilities and provisions
20. Contingencies
21. Capital stock and treasury shares
22. Earnings per share
23. Other operating expenses, net
24. Financial result, net
25. Income tax expenses
26. Leases
The impact of the introduction of the new standard is illustrated in the following tables:
| 1.1.2019 | Thereof IFRS 16 |
Description | |
| MCHF | MCHF | ||
| Positions in the consolidated balance sheet | |||
| Property, plant and equipment | 903.7 | 74.8 | Capitalisation of the right-of-use of property, plant and equipment |
| Short-term debt | 168.5 | 14.2 | Short-term portion of long-term lease liabilities |
| Long-term debt | 743.7 | 60.6 | Long-term lease liabilities |
The weighted average interest rate applied to calculate the lease liabilities was around 3.0% as at 1 January 2019.
| 1.1- 31.12.2019 |
Impact from IFRS 16 |
Description | |
| MCHF | MCHF | ||
| Positions in the consolidated income statement | |||
| Depreciation | 127.4 | 17.2 | Depreciation of the right-of-use of property, plant and equipment |
| Other operating expenses, net | 567.0 | -18.4 | Discontinuing operating leasing expenses |
| Financial expenses | 12.5 | 2.0 | Interest expenses on lease liabilities |
| 1.1- 31.12.2019 |
Impact from IFRS 16 |
Description | ||
| MCHF | MCHF | |||
| Positions in the consolidated statements of cashflows | ||||
| Net cash from/used in (-) operating activities | 834.0 | 18.4 | Discontinuing operating leasing expenses | |
| Repayments of lease liabilities | -16.2 | -16.2 | Payments of lease liabilities | |
| Interest paid | -7.8 | -2.0 | Interest paid on lease liabilities | |
The following table reconciles the liabilities under operating leases as at 31 December 2018 with the lease liabilities as at 1 January 2019:
| 2019 | |
| MCHF | |
| Lease liabilities | |
| Liabilities under operating leases as at 31 December 2018 (not discounted) | 100.4 |
| - Lease expenses under short-term leases | -16.2 |
| - Lease expenses for minor-value assets | -1.2 |
| +/- Adjustments due to differences in the treatment of extension and termination options | 1.7 |
| Lease liabilities as at 1 January 2019 (not discounted) | 84.7 |
| Discounting effect | -9.9 |
| Lease liabilities as at 1 January 2019 (discounted) | 74.8 |
| of which: | |
| Short-term portion of long-term lease liabilities | 14.2 |
| Long-term lease liabilities | 60.6 |
| Lease liabilities as at 1 January 2019 | 74.8 |
