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. Trade accounts receivable
7. Other current assets and current financial assets
8. Inventories
9. Property, plant and equipment
10. Other non-current assets and non-current financial assets
11. Goodwill and intangible assets
12. Short-term debt
13. Other current liabilities and provisions
14. Long-term debt
15. Financial instruments
16. Retirement benefit plans
17. Participation plans
18. Deferred tax assets and liabilities
19. Other non-current liabilities and provisions
20. Contingencies
21. Capital stock and treasury shares
22. Earnings per share
23. Other operating expenses, net
24. Financial result, net
25. Income tax expenses
26. Operating Leasing
27. Research and development cost
| 2016 | 2015 | |
|---|---|---|
| MCHF | MCHF | |
| Research and development expenses | 72.3 | 63.4 |
| Capitalised development expenses | -5.7 | -7.8 |
| Amortisation of capitalised development expenses | 2.1 | 1.1 |
| Research and development cost | 68.7 | 56.7 |
Geberit spent in the past in average around 2.4% of net sales on research and development every year (2016: 2.6%). The expenses have remained relatively constant over the years. In 2016, research and development expenses totalling MCHF 72.3 (PY: MCHF 63.4) were included in the items “Personnel expenses”, “Depreciation” and “Other operating expenses, net”. For four major development projects, the capitalisation criteria according to IAS 38.57 were met and expenses of MCHF 5.7 (PY: MCHF 7.8) were capitalised.