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20Assets and liabilities related to contracts with customers

millions of CHF

 

2021

 

2020 1)

Sales recognized over time related to ongoing performance obligations

 

525.5

 

474.5

Sales recognized over time related to satisfied performance obligations

 

360.6

 

393.9

Sales recognized over time

 

886.0

 

868.4

Sales recognized at a point in time

 

2’269.3

 

2’099.3

Sales

 

3’155.3

 

2’967.8

– thereof sales recognized included in the contract liability balance at the beginning of the period

 

300.5

 

344.8

– thereof sales recognized from performance obligations satisfied (or partially satisfied) in previous periods

 

0.6

 

0.1

 

 

 

 

 

Cost of goods sold recognized over time related to ongoing performance obligations

 

–391.8

 

–363.5

Cost of goods sold recognized over time related to satisfied performance obligations

 

–255.5

 

–289.8

Cost of goods sold recognized over time

 

–647.3

 

–653.3

Cost of goods sold recognized at a point in time

 

–1’561.1

 

–1’442.1

Cost of goods sold

 

–2’208.4

 

–2’095.3

 

 

 

 

 

Gross profit recognized over time related to ongoing performance obligations

 

133.7

 

111.0

Gross profit recognized over time related to satisfied performance obligations

 

105.0

 

104.2

Gross profit recognized over time

 

238.7

 

215.2

Gross profit recognized at a point in time

 

708.2

 

657.2

Gross profit

 

946.9

 

872.4

 

 

 

 

 

Contract assets from sales recognized over time relating to ongoing performance obligations

 

912.5

 

749.3

Expected loss rate

 

0.1%

 

0.1%

Allowance for expected losses

 

–0.6

 

–0.6

Netting with contract liabilities

 

–502.6

 

–423.9

Contract assets

 

409.3

 

324.9

 

 

 

 

 

Contract liabilities from costs recognized over time relating to ongoing performance obligations

 

86.3

 

46.9

Advance payments from customers relating to point in time contracts

 

173.3

 

200.8

Advance payments from customers relating to over time contracts

 

567.5

 

476.8

Netting with contract assets

 

–502.6

 

–423.9

Contract liabilities

 

324.5

 

300.5

 

 

 

 

 

Order backlog (aggregate amount of transaction price allocated to unsatisfied performance obligations)

 

1’724.1

 

1’768.7

– thereof expected to be recognized as revenue within 12 months

 

1’515.8

 

1’571.4

– thereof expected to be recognized in more than 12 months

 

208.3

 

197.3

1) Comparative information has been re-presented due to discontinued operations (details are described in note 7).

Total sales recognized over time increased from CHF 868.4 million in 2020 to CHF 886.0 million in 2021. As a result, contract assets increased by CHF 84.4 million and contract liabilities by CHF 24.0 million.