14 Financial debts
| In CHF million | 2022 | 2021 | ||
|---|---|---|---|---|
| Current financial debts | ||||
| Financial debts – related parties | 8 | 11 | ||
| Bank overdrafts | 22 | 36 | ||
| 0.25% bond 2018–2023, nominal CHF 400 million | 400 | |||
| Other current financial debts | 27 | 32 | ||
| Total current financial debts | 457 | 79 | ||
| Non-current financial debts | ||||
| 0.25% bond 2018–2023, nominal CHF 400 million | 400 | |||
| Liabilities towards non-controlling interests | 151 | 167 | ||
| Other non-current financial debts | 16 | 18 | ||
| Total non-current financial debts | 167 | 585 | ||
Other current and non-current financial debts comprise bank loans and deferred purchase considerations from business combinations.
Changes in financial debts are as follows:
| 2022 | 2021 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| In CHF million | Current financial debts | Non-current financial debts | Total | Current financial debts | Non-current financial debts | Total | ||||||
| January 1 | 79 | 585 | 664 | 86 | 446 | 532 | ||||||
| Cash inflow from increase in financial debts | 3 | – | 3 | 6 | 1 | 7 | ||||||
| Cash outflow from repayment of financial debts | –18 | – | –18 | –20 | – | –20 | ||||||
| Other cash flows | –27 | – | –27 | –30 | –3 | –33 | ||||||
| Non-cash items | ||||||||||||
| Reclassifications | 411 | –411 | – | 6 | –6 | – | ||||||
| Business combinations | 1 | – | 1 | – | 1 | 1 | ||||||
| Liabilities towards non-controlling interests | – | –16 | –16 | – | 140 | 140 | ||||||
| Others | 11 | 9 | 20 | 30 | 6 | 36 | ||||||
| Exchange differences | –3 | – | –3 | 1 | – | 1 | ||||||
| December 31 | 457 | 167 | 624 | 79 | 585 | 664 | ||||||
As the 5-year bond tranche 2018–2023 will reach maturity in June 2023, it was reclassified from non-current financial debts to current financial debts. 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.
Liabilities towards non-controlling interests in the amount of CHF 124 million represent liabilities towards the non-controlling interest of XJ-Schindler Elevator Co. Ltd., China, and Volkslift-Schindler Elevator Co. Ltd., China (previous year: CHF 140 million). They have the right to sell part of their remaining shares to Schindler, commencing in September 2024, if contractually agreed call options are not exercised by Schindler in the future.