Accounting policy
Other liabilities are measured at amortized cost, which generally corresponds to the nominal value, or at fair value through profit and loss. The latter is mainly applied to acquisition-related liabilities.
|
|
2024 |
|
2023 |
||||
|---|---|---|---|---|---|---|---|---|
Trade payables |
|
|
|
|
||||
Received in advance |
|
5 |
|
8 |
||||
Trade accounts payable1 |
|
2,267 |
|
2,166 |
||||
Notes and cheques due |
|
4 |
|
– |
||||
Total Trade payables |
|
2,276 |
|
2,174 |
||||
|
|
|
|
|
||||
Income tax payable |
|
223 |
|
177 |
||||
|
|
|
|
|
||||
Other current liabilities |
|
|
|
|
||||
Other taxes and social security contributions |
|
87 |
|
85 |
||||
Interest1 |
|
36 |
|
32 |
||||
Pensions |
|
1 |
|
2 |
||||
Investment creditors |
|
203 |
|
146 |
||||
Employee-related liabilities |
|
454 |
|
310 |
||||
Payables associates and joint ventures relating to cash facility |
|
– |
|
3 |
||||
Acquisition-/divestment-related liabilities |
|
36 |
|
748 |
||||
Other |
|
9 |
|
7 |
||||
Total Other current liabilities |
|
826 |
|
1,333 |
||||
|
|
|
|
|
||||
Total current liabilities |
|
3,325 |
|
3,684 |
||||
|
||||||||
Included in trade accounts payable are amounts due to suppliers which could be part of a supply chain finance arrangement between the supplier and a third-party bank.
Our suppliers can enter into such arrangements with third-party banks, and access earlier payment on terms linked to our investment grade credit rating. If a supplier participates, this does not impact classification of the trade payable, as arrangements are concluded between them and banks and do not alter payment conditions between the supplier and us. Additionally, dsm-firmenich does not incur any additional interest toward the bank on the amounts due to the suppliers. Therefore, these amounts remain classified as trade payables and the related payments are included in operating cash flows.
dsm-firmenich applied transitional relief available under Supplier Finance Arrangements – Amendments to IAS 7 and IFRS 7 and has not provided comparative information in the first year of adoption.
The decrease in acquisition-/divestment-related liabilities was mainly due to the settlement of the statutory buy-out of non-tendered shares of DSM B.V. See also Note 26 Notes to the cash flow statement.
|
|
2024 |
|---|---|---|
Carrying amount of liabilities |
|
|
Presented within trade and other payables (beginning of the period) |
|
207 |
Presented within trade and other payables (end of the period) |
|
218 |
- Of which suppliers have received payment (by a third-party bank) |
|
178 |
Range of payment due dates |
|
|
Liabilities that are part of supplier finance arrangements |
|
30–120 days |
Comparable trade payables that are not part of a supplier finance arrangement |
|
0–120 days |