14 Financial debts
| In CHF million | 2021 | 2020 | ||
|---|---|---|---|---|
| Current financial debts | ||||
| Financial debts – related parties | 11 | 8 | ||
| Bank overdrafts | 36 | 45 | ||
| Other current financial debts | 32 | 33 | ||
| Total current financial debts | 79 | 86 | ||
| Non-current financial debts | ||||
| 0.25% bond 2018–2023, nominal CHF 400 million | 400 | 400 | ||
| Liabilities towards non-controlling interests | 167 | 27 | ||
| Other non-current financial debts | 18 | 19 | ||
| Total non-current financial debts | 585 | 446 | ||
Other current and non-current financial debts comprise bank loans and deferred purchase considerations from business combinations.
Changes in financial debts are as follows:
| 2021 | 2020 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| In CHF million | Current financial debts | Non-current financial debts | Total | Current financial debts | Non-current financial debts | Total | ||||||
| January 1 | 86 | 446 | 532 | 195 | 437 | 632 | ||||||
| Cash inflow from increase in financial debts | 6 | 1 | 7 | 17 | 1 | 18 | ||||||
| Cash outflow from repayment of financial debts | –20 | – | –20 | –142 | –2 | –144 | ||||||
| Other cash flows | –30 | –3 | –33 | –41 | –1 | –42 | ||||||
| Non-cash items | ||||||||||||
| Reclassifications | 6 | –6 | – | 5 | –5 | – | ||||||
| Business combinations | – | 1 | 1 | 18 | – | 18 | ||||||
| Liabilities towards non-controlling interests | – | 140 | 140 | – | –1 | –1 | ||||||
| Others | 30 | 6 | 36 | 38 | 16 | 54 | ||||||
| Exchange differences | 1 | – | 1 | –4 | 1 | –3 | ||||||
| December 31 | 79 | 585 | 664 | 86 | 446 | 532 | ||||||
In the previous year, the 2-year bond tranche 2018–2020 amounting to CHF 100 million reached maturity and was repaid. Refer to note 9.2 for more information on the bond.
Other cash flows comprise payments of deferred purchase considerations from business combinations disclosed in cash flow from investing activities, see note 23 for further information. Other non-cash items mainly include changes in deferred purchase consideration from business combinations.
Changes in lease liabilities are disclosed in note 18.
Liabilities towards non-controlling interests
Liabilities towards non-controlling interests arise from written put options. Initially, they are measured at the present value of the redemption amount. Subsequent annual remeasurements are recognized in retained earnings without any impact on the income statement.
Due to changes in contractual agreements in 2021, Schindler recognized an additional CHF 140 million as liabilities towards non-controlling interests. If contractually agreed call options are not exercised by Schindler in the future, the non-controlling interests in XJ-Schindler Elevator Co. Ltd., China, and Volkslift-SchindlerElevator Co. Ltd., China, have the right to sell part of their remaining shares to Schindler, commencing in September 2024.