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- >Note 27
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
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
| 2014 | 2013 | |
|---|---|---|
| MCHF | MCHF | |
| Research and development expenses, gross | 55.8 | 50.9 |
| Capitalized development costs | -5.9 | -3.3 |
| Amortization of capitalized development costs | 0.2 | 0.0 |
| Research and development expenses, net | 50.1 | 47.6 |
Geberit spends around 2.6% of revenue from sales (around 2.3% of sales) on research and development (R&D) every year. The expenditure has remained relatively constant over the years.
In 2014, gross research and development costs totaling MCHF 55.8 (PY: MCHF 50.9) were charged directly to the income statement. The costs are included in the items “Personnel expenses”, “Depreciation” and “Other operating expenses, net”.
For three major development projects, the capitalization criteria according to IAS 38.57 were met and costs of MCHF 5.9 (PY: MCHF 3.3) were capitalized.