11 Financial assets
| In CHF million | 2023 | 2022 | ||
|---|---|---|---|---|
| Current financial assets | ||||
| Time deposits | 1 146 | 1 237 | ||
| Other current financial assets | 91 | 50 | ||
| Total current financial assets | 1 237 | 1 287 | ||
| Non-current financial assets | ||||
| Time deposits | 38 | 93 | ||
| Other deposits | 35 | 34 | ||
| Equity instruments | 252 | 253 | ||
| Other non-current financial assets | 102 | 107 | ||
| Total non-current financial assets | 427 | 487 | ||
Time deposits are included in current financial assets if their maturity is between 3 and 12 months, or in non-current financial assets if their maturity exceeds 12 months.
As of December 31, 2023, the investment in Hyundai Elevator Co. Ltd. represents CHF 130 million of non-current equity instruments (previous year: CHF 131 million). As the result of the disposal of shares in the reporting year, Schindler’s interest decreased from 15.5% to 11.5% as of December 31, 2023. Upon the disposal, accumulated gains recognized in OCI of CHF 27 million were transferred to retained earnings. The Group received CHF 2 million in dividend payments from this investment in the reporting year, recognized as financial income (previous year: CHF 4 million).
Other current and non-current financial assets include debt instruments, such as bonds, bond funds, and loans to associates.