Consolidated Financial Statements Geberit Group

Notes to the Consolidated Financial Statements

  1. 1. Basis of preparation

  2. 2. Changes in Group organization

  3. 3. Summary of significant accounting policies

  4. 4. Risk assessment and management

  5. 5. Management of capital

  6. 6. Marketable securities

  7. 7. Trade accounts receivable

  8. 8. Other current assets and current financial assets

  9. 9. Inventories

  10. 10. Property, plant and equipment

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      Total Land
    and
    buildings    		 Machinery
    and
    equipment    		 Office
    equipment    		 Assets under
    constr./
    advance
    payments
      MCHF MCHF MCHF MCHF MCHF
    2011          
    Cost at beginning of year 910.2 287.5 556.1 34.7 31.9
    Additions 87.6 10.1 31.3 5.1 41.1
    Disposals -26.8 -1.2 -20.2 -5.4  
    Transfers 0.0 4.1 24.0 1.6 -29.7
    Translation differences -15.8 -3.6 -10.8 -0.9 -0.5
    Cost at end of year 955.2 296.9 580.4 35.1 42.8
               
    Accumulated depreciation
    at beginning of year    		 395.9 74.4 304.0 17.5 0.0
    Depreciation expense 76.9 10.0 59.7 7.2  
    Disposals -24.8 -0.8 -18.8 -5.2  
    Transfers 0.0        
    Translation differences -9.0 -1.3 -7.1 -0.6  
    Accumulated depreciation
    at end of year    		 439.0 82.3 337.8 18.9 0.0
               
    Net carrying amounts
    at end of year    		 516.2 214.6 242.6 16.2 42.8
               
    2010          
    Cost at beginning of year 990.9 296.7 611.8 37.3 45.1
    Changes in Group organization (see Note 2) 0.1     0.1  
    Additions 78.6 5.8 33.6 7.4 31.8
    Disposals -37.6 -0.8 -31.0 -5.8  
    Transfers 0.0 18.4 21.6 1.9 -41.9
    Translation differences -121.8 -32.6 -79.9 -6.2 -3.1
    Cost at end of year 910.2 287.5 556.1 34.7 31.9
               
    Accumulated depreciation
    at beginning of year    		 414.7 73.2 321.4 20.1 0.0
    Depreciation expense 81.8 11.5 63.2 7.1  
    Disposals -36.5 -0.7 -30.3 -5.5  
    Transfers 0.0   -0.2 0.2  
    Translation differences -64.1 -9.6 -50.1 -4.4  
    Accumulated depreciation
    at end of year    		 395.9 74.4 304.0 17.5 0.0
               
    Net carrying amounts
    at end of year    		 514.3 213.1 252.1 17.2 31.9

    As of December 31, 2011, buildings were insured at MCHF 427.5 (PY: MCHF 432.2) and equipment at MCHF 887.6 (PY: MCHF 862.8) against fire, which amounts to a total fire insurance value for property, plant and equipment of MCHF 1,315.1 (PY: MCHF 1,295.0).

    As of December 31, 2011, the Group had entered into firm commitments for capital expenditures of MCHF 12.1 (PY: MCHF 8.3).

  11. 11. Other non-current assets and non-current financial assets

  12. 12. Goodwill and intangible assets

  13. 13. Short-term debt

  14. 14. Other current provisions and liabilities

  15. 15. Long-term debt

  16. 16. Derivative financial instruments

  17. 17. Retirement benefit plans

  18. 18. Participation plans

  19. 19. Deferred tax assets and liabilities

  20. 20. Other non-current provisions and liabilities

  21. 21. Contingencies

  22. 22. Capital stock and treasury shares

  23. 23. Earnings per share

  24. 24. Cash discounts and customer bonuses

  25. 25. Other operating expenses, net

  26. 26. Financial result, net

  27. 27. Income tax expenses

  28. 28. Cashflow figures

  29. 29. Segment reporting

  30. 30. Related party transactions

  31. 31. Foreign exchange rates

  32. 32. Subsequent events

  33. 33. Additional disclosures on financial instruments

  34. 34. Group companies as of December 31, 2011