Financial report  >  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

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

  12. 12. Goodwill and intangible assets

  13. 13. Short-term debt

      2012 2011
      MCHF MCHF
    Private Placement 0.0 61.0
    Other short-term debt 3.8 3.8
    Total short-term debt 3.8 64.8

    Private Placement

    In December 2002, the Group raised MUSD 100.0 from various US insurance companies through a privately placed debt (“Private Placement”) issued by its US subsidiary The Chicago Faucet Company. The Private Placement is split into (i) a series A (MUSD 35.0), which carries a coupon of 5.0% and was due on December 19, 2009, and (ii) a series B (MUSD 65.0), which carries a coupon of 5.54% and was due on December 19, 2012. The Private Placement was repaid entirely on December 19, 2012.

    Short-term credit lines

    The Group maintains credit lines of MCHF 47.9 (PY: MCHF 45.7) from various lenders, which can be cancelled at short notice. The use of these credit lines is always short-term in nature and, accordingly, any amounts drawn are included in short-term debt. At December 31, 2012 and 2011, the Group did not have any outstanding drawings on the above-mentioned credit lines.

    Other short-term debt

    As of December 31, 2012, the Group had MCHF 3.8 of other short-term debt (PY: MCHF 3.8). This debt incurred an effective interest rate of 6.0% (PY: 6.0%).

    Currency mix

    Of the short-term debt outstanding as of December 31, 2012, MCHF 3.8 was denominated in EUR (PY: MCHF 3.8) and MCHF 0.0 in USD (PY: MCHF 61.0).

  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, 2012