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

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

Measurement of financial instruments by categories according to IAS 39

Based on the relevant balance sheet item of financial instruments, the following table shows an allocation of the balance sheet items to the classification by categories according to IAS 39. In addition, a fair value measurement hierarchy was introduced for assets and liabilities that are measured at fair value. Level 1 contains all financial instruments with quoted prices in active markets. Level 2 contains all financial instruments with inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. Level 3 contains all financial instruments with inputs for determining the assets and liabilities that are not based on observable market data.

  Carrying amount as of 31.12.2014 Loans and receivables Financial assets at fair value Fair value measurement hierarchy
  MCHF MCHF MCHF  
Financial assets        
Cash and cash equivalents 749.7 749.7 0.0  
Trade accounts receivable 125.3 125.3 0.0  
Other current assets 55.1 55.1 0.0  
Other non-current assets 6.2 5.9 0.3 Level 2
Derivative financial instruments 0.8 0.0 0.8 Level 2
Total 937.1 936.0 1.1  
  Carrying amount as of 31.12.2014 Financial liabilities at amortized cost Financial liabilities at fair value Fair value measurement hierarchy
  MCHF MCHF MCHF  
Financial liabilities        
Short-term debt 3.9 3.9 0.0  
Trade accounts payable 62.3 62.3 0.0  
Other financial liabilities 6.6 6.6 0.0  
Derivative financial instruments 71.5 0.0 71.5 Level 2
Total 144.3 72.8 71.5  

  Carrying amount as of 31.12.2013 Loans and receivables Financial assets at fair value Fair value measurement hierarchy
  MCHF MCHF MCHF  
Financial assets        
Cash and cash equivalents 538.1 538.1 0.0  
Marketable securities 74.7 0.0 74.7 Level 1
Trade accounts receivable 114.8 114.8 0.0  
Other current assets 50.5 50.5 0.0  
Other non-current assets 3.2 2.7 0.5 Level 2
Derivative financial instruments 2.9 0.0 2.9 Level 2
Total 784.2 706.1 78.1  
  Carrying amount as of 31.12.2013 Financial liabilities at amortized cost Financial liabilities at fair value Fair value measurement hierarchy
  MCHF MCHF MCHF  
Financial liabilities        
Short-term debt 4.0 4.0 0.0  
Trade accounts payable 61.6 61.6 0.0  
Other financial liabilities 7.7 7.7 0.0  
Derivative financial instruments 0.0 0.0 0.0 Level 2
Total 73.3 73.3 0.0  

Fair value measurement hierarchy:

Level 1: quoted prices in active markets for identical assets
Level 2: observable prices, either directly or indirectly
Level 3: input factors that are not based on observable market data

Maturity analysis of financial instruments

The following table shows the carrying amount of all contractually defined future (not discounted) interest and amortization payments of derivative and non-derivative financial instruments as of the balance sheet date:

  Carrying amount   Maturity
  31.12.2014   2015 2016 2017 2018 2019 and later
  MCHF   MCHF MCHF MCHF MCHF MCHF
Short-term debt 3.9   4.1 0.0 0.0 0.0 0.0
Trade accounts payable 62.3   62.3 0.0 0.0 0.0 0.0
Other financial liabilities 6.6   0.4 2.6 2.1 1.3 1.5
Total non-derivative financial liabilities 72.8   66.8 2.6 2.1 1.3 1.5
               
Derivative financial liabilities 71.5   1,183.7 0.0 0.0 0.0 0.0
Derivative financial assets -0.8   19.7 0.0 0.0 0.0 0.0
Total derivative financial instruments 70.7   1,203.4 0.0 0.0 0.0 0.0
               
Total 143.5   1,270.2 2.6 2.1 1.3 1.5

  Carrying amount   Maturity
  31.12.2013   2014 2015 2016 2017 2018 and later
  MCHF   MCHF MCHF MCHF MCHF MCHF
Short-term debt 4.0   4.0 0.0 0.0 0.0 0.0
Trade accounts payable 61.6   61.6 0.0 0.0 0.0 0.0
Other financial liabilities 7.7   0.5 3.1 2.3 1.7 1.6
Total non-derivative financial liabilities 73.3   66.1 3.1 2.3 1.7 1.6
               
Derivative financial liabilities 0.0   0.0 0.0 0.0 0.0 0.0
Derivative financial assets -2.9   55.4 0.0 0.0 0.0 0.0
Total derivative financial instruments -2.9   55.4 0.0 0.0 0.0 0.0
               
Total 70.4   121.5 3.1 2.3 1.7 1.6

34. Group companies as of December 31, 2014