27Provisions
|
|
|
2023 |
||||||||||
|
millions of CHF |
|
Other employee benefits |
|
Warranties / liabilities |
|
Restructuring |
|
Environmental |
|
Other |
|
Total |
|
Balance as of January 1 |
|
44.5 |
|
92.3 |
|
8.1 |
|
11.4 |
|
57.8 |
|
214.1 |
|
Additions |
|
8.0 |
|
41.6 |
|
5.2 |
|
1.2 |
|
35.9 |
|
91.9 |
|
Released as no longer required |
|
–4.2 |
|
–9.6 |
|
–2.2 |
|
– |
|
–16.5 |
|
–32.6 |
|
Utilized |
|
–7.1 |
|
–19.4 |
|
–4.7 |
|
–0.1 |
|
–32.5 |
|
–63.9 |
|
Reclassification 1) |
|
–6.0 |
|
– |
|
– |
|
– |
|
– |
|
–6.0 |
|
Currency translation differences |
|
–1.9 |
|
–6.0 |
|
–1.3 |
|
–0.2 |
|
–2.0 |
|
–11.4 |
|
Total provisions as of December 31 |
|
33.2 |
|
98.8 |
|
5.0 |
|
12.4 |
|
42.6 |
|
192.0 |
|
– thereof non-current |
|
22.0 |
|
2.8 |
|
0.5 |
|
12.3 |
|
9.1 |
|
46.7 |
|
– thereof current |
|
11.2 |
|
96.0 |
|
4.6 |
|
0.0 |
|
33.4 |
|
145.3 |
1) Includes a reclassification of CHF 6.0 million to the defined benefit obligation, see note 9.
|
|
|
2022 |
||||||||||
|
millions of CHF |
|
Other employee benefits |
|
Warranties / liabilities |
|
Restructuring |
|
Environmental |
|
Other |
|
Total |
|
Balance as of January 1 |
|
53.9 |
|
93.8 |
|
21.0 |
|
11.8 |
|
55.4 |
|
235.8 |
|
Classified as held for sale |
|
– |
|
–2.5 |
|
– |
|
– |
|
– |
|
–2.5 |
|
Additions |
|
11.0 |
|
26.9 |
|
1.8 |
|
0.1 |
|
68.0 |
|
107.8 |
|
Released as no longer required |
|
–7.0 |
|
–10.0 |
|
–1.7 |
|
– |
|
–3.6 |
|
–22.3 |
|
Utilized |
|
–10.6 |
|
–16.1 |
|
–12.7 |
|
–0.0 |
|
–58.7 |
|
–97.9 |
|
Currency translation differences |
|
–2.8 |
|
0.1 |
|
–0.3 |
|
–0.5 |
|
–3.3 |
|
–6.7 |
|
Total provisions as of December 31 |
|
44.5 |
|
92.3 |
|
8.1 |
|
11.4 |
|
57.8 |
|
214.1 |
|
– thereof non-current |
|
31.0 |
|
3.2 |
|
1.2 |
|
11.4 |
|
11.5 |
|
58.2 |
|
– thereof current |
|
13.5 |
|
89.1 |
|
6.9 |
|
0.0 |
|
46.3 |
|
155.9 |
The category “Other employee benefitsˮ includes provisions for jubilee gifts and other obligations to employees.
The category “Warranties/liabilitiesˮ includes provisions for warranties, customer claims, penalties, litigation and legal cases relating to goods delivered or services rendered. Warranties that provide customers with assurance that the product complies with the agreed specifications, are accounted for as provisions over the agreed warranty period.
In 2023, the group utilized CHF 4.7 million (2022: CHF 12.7 million) of restructuring provisions mainly relating to resizing measures of sites in Europe and the USA initiated in 2020 and 2021 and resizing measures in Indonesia initiated in 2022. The group recorded restructuring provisions of CHF 5.2 million (2022: CHF 1.8 million), partly offset by released restructuring provisions of CHF 2.2 million (2022: CHF 1.7 million). Restructuring costs mainly relate to reorganization in the Flow equipment division. The remaining restructuring provision as of December 31, 2023, is CHF 5.0 million, of which CHF 4.6 million is expected to be utilized within one year.
“Environmentalˮ mainly consists of expected costs related to inherited liabilities.
“Otherˮ includes provisions that do not fit into the aforementioned categories. A large number of these provisions refer to onerous contracts and indemnities, in particular related to divestitures. In addition, provisions for ongoing asbestos lawsuits and other legal claims are included. Based on the currently known facts, the group is of the opinion that the resolution of the open cases will not have material effects on its liquidity or financial condition. Although the group expects a large part of the category “Otherˮ to be realized in 2024, by their nature, the amounts and timing of any cash outflows are difficult to predict.