Notes to the Consolidated Financial Statements

1. Basic information and principles of the report

2. Changes in Group structure

3. Summary of significant accounting policies

4. Risk assessment and management

5. Management of capital

6. Marketable securities

7. Trade accounts receivable

8. Other current assets and current financial assets

9. Inventories

10. Property, plant and equipment

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

12. Goodwill and intangible assets

13. Short-term debt

  2014 2013
Other short-term debt 3.9 4.0
Total short-term debt 3.9 4.0

Short-term credit lines

The Group maintains credit lines of MCHF 47.8 (PY: MCHF 48.3) from various lenders, which can be canceled 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. As of December 31, 2014 and 2013, the Group did not have any outstanding drawings on the above-mentioned credit lines.

Financing of the acquisition of Sanitec is described in detail in  Note 15.

Other short-term debt

As of December 31, 2014, the Group had MCHF 3.9 in other short-term debt (PY: MCHF 4.0). This debt incurred an effective interest rate of 5.5% (PY: 5.9%).

Currency mix

Of the short-term debt outstanding as of December 31, 2014, MCHF 3.9 was denominated in EUR (PY: MCHF 4.0).

14. Other current provisions and liabilities

15. Long-term debt

16. Derivative financial instruments

17. Retirement benefit plans

18. Participation plans

19. Deferred tax assets and liabilities

20. Other non-current provisions and liabilities

21. Contingencies

22. Capital stock and treasury shares

23. Earnings per share

24. Other operating expenses, net

25. Financial result, net

26. Income tax expenses

27. Research and development expenditures

28. Cashflow figures

29. Segment reporting

30. Related party transactions

31. Foreign exchange rates

32. Subsequent events

33. Additional disclosures on financial instruments

34. Group companies as of December 31, 2014