Annual Report 2022

Annual Report 2022

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18. Deferred tax assets and liabilities

 

 

2022

 

Movements 2022

 

2021

 

 

Total

 

Charged (‑)/​credited to income

 

Through equity

 

Through OCI 1

 

Translation differences

 

Total

 

 

MCHF

 

MCHF

 

MCHF

 

MCHF

 

MCHF

 

MCHF

Deferred tax assets, gross

 

 

 

 

 

 

 

 

 

 

 

 

Loss carryforwards

 

10.6

 

-3.2

 

0.0

 

0.0

 

-1.7

 

15.5

Accrued pension obligations

 

14.2

 

-1.0

 

0.0

 

-15.5

 

-0.6

 

31.3

Property, plant and equipment

 

7.5

 

0.2

 

0.0

 

0.0

 

-0.4

 

7.7

Short/long-term lease liabilities

 

10.6

 

1.1

 

0.0

 

0.0

 

-0.7

 

10.2

Other short/long-term liabilities (excl. lease liabilities)

 

13.9

 

0.3

 

0.0

 

0.0

 

-0.1

 

13.7

Intangible assets

 

91.3

 

83.3

 

0.0

 

0.0

 

0.0

 

8.0

Other

 

27.6

 

10.1

 

-16.7

 

0.0

 

-1.3

 

35.5

Total deferred tax assets, gross

 

175.7

 

90.8

 

-16.7

 

-15.5

 

-4.8

 

121.9

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred tax liabilities, gross

 

 

 

 

 

 

 

 

 

 

 

 

Inventories

 

-4.8

 

-0.4

 

0.0

 

0.0

 

0.0

 

-4.4

Property, plant and equipment (excl. right-of-use assets)

 

-18.8

 

0.2

 

0.0

 

0.0

 

0.6

 

-19.6

Right-of-use assets

 

-10.8

 

-1.0

 

0.0

 

0.0

 

0.8

 

-10.6

Intangible assets

 

-23.6

 

0.0

 

0.0

 

0.0

 

1.7

 

-25.3

Assets from defined benefit plans

 

-1.6

 

-0.1

 

0.0

 

7.7

 

0.1

 

-9.3

Other

 

-9.0

 

7.5

 

0.0

 

0.0

 

0.2

 

-16.7

Total deferred tax liabilities, gross

 

-68.6

 

6.2

 

0.0

 

7.7

 

3.4

 

-85.9

1

Recorded in other comprehensive income

 

 

2021

 

Movements 2021

 

2020

 

 

Total

 

Charged (‑)/​credited to income

 

Through equity

 

Through OCI 1

 

Translation differences

 

Total

 

 

MCHF

 

MCHF

 

MCHF

 

MCHF

 

MCHF

 

MCHF

Deferred tax assets, gross

 

 

 

 

 

 

 

 

 

 

 

 

Loss carryforwards

 

15.5

 

-4.5

 

0.0

 

0.0

 

-0.5

 

20.5

Accrued pension obligations

 

31.3

 

4.1

 

0.0

 

-9.4

 

-1.6

 

38.2

Property, plant and equipment

 

7.7

 

-0.7

 

0.0

 

0.0

 

-0.3

 

8.7

Short/long-term lease liabilities

 

10.2

 

3.3

 

0.0

 

0.0

 

-0.4

 

7.3

Other short/long-term liabilities (excl. lease liabilities)

 

13.7

 

-4.2

 

0.0

 

0.0

 

-0.1

 

18.0

Intangible assets

 

8.0

 

-9.4

 

0.0

 

0.0

 

0.0

 

17.4

Other

 

35.5

 

2.9

 

17.4

 

0.0

 

-0.7

 

15.9

Total deferred tax assets, gross

 

121.9

 

-8.5

 

17.4

 

-9.4

 

-3.6

 

126.0

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred tax liabilities, gross

 

 

 

 

 

 

 

 

 

 

 

 

Inventories

 

-4.4

 

-1.7

 

0.0

 

0.0

 

-0.1

 

-2.6

Property, plant and equipment (excl. right-of-use assets)

 

-19.6

 

6.1

 

0.0

 

0.0

 

0.1

 

-25.8

Right-of-use assets

 

-10.6

 

-3.3

 

0.0

 

0.0

 

0.4

 

-7.7

Intangible assets

 

-25.3

 

4.1

 

0.0

 

0.0

 

0.9

 

-30.3

Assets from defined benefit plans

 

-9.3

 

0.0

 

0.0

 

-8.8

 

0.0

 

-0.5

Other

 

-16.7

 

-4.1

 

0.0

 

0.0

 

0.1

 

-12.7

Total deferred tax liabilities, gross

 

-85.9

 

1.1

 

0.0

 

-8.8

 

1.4

 

-79.6

1

Recorded in other comprehensive income

 

 

 

 

2022

 

 

 

2021

 

 

Assets

 

Liabilities

 

Assets

 

Liabilities

 

 

MCHF

 

MCHF

 

MCHF

 

MCHF

Deferred taxes, gross

 

175.7

 

-68.6

 

121.9

 

-85.9

Offsetting

 

-26.2

 

26.2

 

-33.2

 

33.2

Deferred taxes, net

 

149.5

 

-42.4

 

88.7

 

-52.7

Deferred tax liabilities are to be formed for non-refundable withholding taxes or other taxes on retained profits in subsidiaries where a profit transfer is planned. As of 31 December 2022, there were such profits in the American subsidiary and Chinese subsidiaries. For these companies deferred tax liabilities of MCHF 0.6 were recorded.

The Group recognises deferred tax assets from loss carryforwards if they comply with the requirements of IAS 12. The following loss carryforwards (listed by maturity) were used for the calculation of deferred tax assets:

 

 

2022

 

Without deferred tax asset

 

With deferred tax asset

 

2021

 

Without deferred tax asset

 

With deferred tax asset

 

 

MCHF

 

MCHF

 

MCHF

 

MCHF

 

MCHF

 

MCHF

Maturity

 

 

 

 

 

 

 

 

 

 

 

 

1 year

 

4.5

 

0.0

 

4.5

 

4.7

 

0.3

 

4.4

2 years

 

4.8

 

0.0

 

4.8

 

5.9

 

0.0

 

5.9

3 years

 

9.4

 

0.0

 

9.4

 

12.6

 

0.0

 

12.6

4 years

 

8.2

 

0.0

 

8.2

 

9.9

 

0.0

 

9.9

5 years

 

5.7

 

0.7

 

5.0

 

6.3

 

1.5

 

4.8

6 years

 

5.9

 

5.1

 

0.8

 

6.0

 

0.7

 

5.3

> 6 years

 

109.1

 

97.2

 

11.9

 

118.0

 

111.5

 

6.5

Total loss carryforwards

 

147.6

 

103.0

 

44.6

 

163.4

 

114.0

 

49.4