13 Accrued expenses
| In CHF million | 2025 | 2024 | ||
|---|---|---|---|---|
| Accrued personnel expenses | 456 | 460 | ||
| Accrued late cost for customer contracts | 200 | 207 | ||
| Accrued cost of materials and services | 182 | 160 | ||
| Other accrued expenses | 273 | 252 | ||
| Total accrued expenses | 1 111 | 1 079 | ||
Accrued late cost for customer contracts represent the Group’s expected costs for follow-up work as well as outstanding supplier invoices after handover of a new installation or modernization to the customer. Late cost accruals are typically used within one year.