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17Leases

Lease assets

 

 

2022

millions of CHF

 

Land and buildings, leased

 

Machinery and technical equipment, leased

 

Other non-current assets, leased

 

Total

Balance as of January 1

 

71.7

 

5.7

 

11.7

 

89.2

Classification as held for sale 1)

 

–0.7

 

 

–0.0

 

–0.7

Additions

 

33.6

 

1.4

 

8.4

 

43.3

Disposals

 

–5.8

 

–0.1

 

–0.6

 

–6.5

Depreciation

 

–20.2

 

–2.5

 

–6.3

 

–29.0

Impairments

 

–1.6

 

 

–0.0

 

–1.7

Remeasurements and contract modifications

 

–0.5

 

 

0.1

 

–0.4

Currency translation differences

 

–3.4

 

–0.0

 

–0.7

 

–4.1

Total lease assets as of December 31

 

73.0

 

4.5

 

12.6

 

90.1

1) In 2022, lease assets with a book value of CHF 0.7 million were included in the Russian disposal group classified as held for sale and fully impaired, reference is made to Note 6. The impairments of CHF 0.7m are recorded in other operating expenses (see note 12).

 

 

2021

millions of CHF

 

Land and buildings, leased

 

Machinery and technical equipment, leased

 

Other non-current assets, leased

 

Total

Balance as of January 1

 

99.7

 

8.2

 

13.4

 

121.2

Acquired through business combination

 

3.7

 

0.1

 

0.6

 

4.4

Derecognized as discontinued operations

 

–45.1

 

–5.3

 

–1.2

 

–51.6

Additions

 

52.6

 

5.4

 

7.7

 

65.7

Disposals

 

–1.0

 

–0.0

 

–1.5

 

–2.5

Depreciation

 

–27.0

 

–2.6

 

–6.9

 

–36.5

Impairments

 

–2.4

 

 

 

–2.4

Remeasurements and contract modifications

 

–8.9

 

 

–0.1

 

–9.0

Currency translation differences

 

–0.0

 

0.1

 

–0.2

 

–0.1

Total lease assets as of December 31

 

71.7

 

5.7

 

11.7

 

89.2

Lease liabilities

 

 

2022

 

2021

Balance as of January 1

 

88.8

 

119.7

Acquired through business combination

 

0.0

 

4.4

Derecognized as discontinued operations

 

 

–51.1

Classification as held for sale

 

–0.5

 

Additions

 

43.3

 

65.7

Interest expenses

 

2.0

 

2.1

Cash flow for repayments – principal portion

 

–32.1

 

–41.1

Cash flow for repayments – interest portion

 

–2.0

 

–2.1

Remeasurements and contract modifications

 

–6.0

 

–8.4

Currency translation differences

 

–4.0

 

–0.4

Total lease liabilities as of December 31

 

89.6

 

88.8

- thereof non-current lease liabilities

 

67.2

 

64.5

- thereof current lease liabilities

 

22.4

 

24.3

The group leases land and buildings used for production, storage or office space. The terms are typically fixed for a period of three to five years. Various lease contracts for buildings contain extension options, providing the group with operational flexibility and planning security. Extension options are included in the lease liability and the lease assets only if Management assesses these extension options as reasonably certain to be exercised.

Other leasing disclosures

millions of CHF

 

2022

 

2021

Recognized in the income statement

 

 

 

 

Expenses relating to short-term leases

 

–13.8

 

–15.2

Expenses relating to low-value asset leases, excluding short-term leases of low-value assets

 

–1.0

 

–1.5

Expenses relating to variable lease payments not included in the lease liability

 

–2.7

 

–2.6

Income from subleasing right-of-use assets

 

0.5

 

0.8

Interest expenses on lease liabilities

 

–2.0

 

–2.1

Total recognized in the income statement continuing operations

 

–19.0

 

–20.6

Recognized in the income statement of discontinued operations

 

 

–2.4

Total recognized in the income statement

 

–19.0

 

–23.0

 

 

 

 

 

Recognized in the statement of cash flows

 

 

 

 

Cash flow for short-term, low-value and variable leases (included within cash flow from operating activities)

 

–17.6

 

–19.3

Cash flow from subleasing right-of-use assets (included within cash flow from operating activities)

 

0.5

 

0.8

Cash flow for repayments of interest on lease liabilities (included within cash flow from operating activities)

 

–2.0

 

–2.1

Cash flow for repayments of the principal portion on lease liabilities (included within cash flow from financing activities)

 

–32.1

 

–41.1

Total cash outflow

 

–51.1

 

–61.7