13 Accrued expenses
| In CHF million | 2023 | 2022 | ||
|---|---|---|---|---|
| Personnel expenses | 482 | 479 | ||
| Late cost for customer contracts | 213 | 262 | ||
| Cost of materials and services | 145 | 189 | ||
| Other accrued expenses | 256 | 267 | ||
| Total accrued expenses | 1 096 | 1 197 |
Late cost accruals for customer contracts represent the Group’s expected cost for follow-up work on new installations or modernizations after handover to the customer. Late cost accruals are typically used within one year.