Consolidated balance sheet

millions of CHF	Notes	June 30, 2022	December 31, 2021	June 30, 2021 1)
Non-current assets
Goodwill		702.5	727.3	1’022.4
Other intangible assets		253.0	276.5	461.1
Property, plant and equipment		381.8	394.0	565.8
Lease assets		77.8	89.2	131.5
Associates		24.2	25.5	26.8
Other non-current financial assets		15.1	18.0	14.7
Defined benefit assets	2	–	134.3	142.4
Non-current receivables		4.4	5.3	4.6
Deferred income tax assets		182.9	164.2	166.0
Total non-current assets		1’641.8	1’834.2	2’535.3

Current assets
Inventories		524.4	475.6	582.2
Current income tax receivables		27.2	26.7	28.1
Advance payments to suppliers		64.3	64.7	76.4
Contract assets		446.7	409.3	379.3
Trade accounts receivable		556.1	549.2	575.0
Other current receivables and prepaid expenses		142.6	118.7	134.6
Current financial assets		13.8	26.7	2.9
Cash and cash equivalents		1’300.6	1’505.4	1’292.5
Total current assets without disposal group		3’075.7	3’176.2	3’070.9
Assets of disposal group held for sale	7	42.4	–	–
Total current assets		3’118.2	3’176.2	3’070.9
Total assets		4’760.0	5’010.4	5’606.1

Equity
Share capital		0.3	0.3	0.3
Reserves		994.4	1’273.5	1’462.5
Equity attributable to shareholders of Sulzer Ltd		994.7	1’273.8	1’462.8
Non-controlling interests		4.1	5.5	6.4
Total equity	11	998.8	1’279.3	1’469.3

Non-current liabilities
Non-current borrowings	12	1’164.7	1’164.6	1’489.6
Non-current lease liabilities		54.6	64.5	97.8
Deferred income tax liabilities		59.6	84.1	127.3
Non-current income tax liabilities		2.2	2.2	4.6
Defined benefit obligations		168.3	180.0	233.8
Non-current provisions	13	67.3	68.0	66.4
Other non-current liabilities		1.3	5.4	7.0
Total non-current liabilities		1’518.0	1’568.8	2’026.6

Current liabilities
Current borrowings	12	341.7	345.5	231.8
Current lease liabilities		22.8	24.3	33.0
Current income tax liabilities		26.1	40.2	11.1
Current provisions	13	158.7	167.8	184.1
Contract liabilities		364.5	324.5	346.4
Trade accounts payable		453.6	431.8	478.2
Other current and accrued liabilities	14	833.3	828.1	825.7
Total current liabilities without disposal group		2’200.7	2’162.3	2’110.2
Liabilities of disposal group held for sale	7	42.4	–	–
Total current liabilities		2’243.2	2’162.3	2’110.2
Total liabilities		3’761.1	3’731.1	4’136.9

Total equity and liabilities		4’760.0	5’010.4	5’606.1

Due to rounding, numbers presented may not add up to the totals provided.

1) The balance sheet as of June 30, 2021, includes the Applicator Systems division (later renamed medmix) classified as a discontinued operation. The spin-off was completed on September 20, 2021, (see note 6). Defined benefit assets were re-presented in the balance sheet as of June 30, 2021, defined benefit assets of CHF 142.4 million previously presented in other current receivables and prepaid expenses are presented in defined benefit assets. The balance sheet was also adjusted for measurement period adjustments related to the finalization of the purchase price accounting of acquisitions in 2020 (see note 4).

Consolidated statement of comprehensive income

Consolidated statement of changes in equity