Notes to the Financial Statements Hilti Corporation Notes to the Financial Statements Hilti Corporation (5) Property, plant and equipment (7) Inventories in CHF million Land and Plant and Other Prepayments TToottaall in CHF million 22002200 2019 buildings machinery operating or assets equipment under Raw materials 16.5 18.3 construction Consumables 9.1 9.0 Production in progress 6.6 6.7 Cost 2020 Finished products and goods held for resale 115.9 127.0 Opening balance at January 1, 2020 447733..33 338877..55 110022..99 6644..44 11,,002288..11 Total inventories 114488..11 116611..00 Currency translation adjustment (0.2) (0.3) (0.1) (0.1) (0.7) Additions 9.4 13.2 3.2 21.2 47.0 The decrease in total inventories includes a decrease in the provision for inventories of CHF 6.4 million (2019: decrease of CHF 6.6 Disposals (0.7) (6.0) (0.8) (0.8) (8.3) million), which is optional under PGR and tax rules. The total amount for this provision amounts to CHF 73.2 million (2019: CHF 79.6 Transfers 34.7 4.6 – (39.3) – million). Closing balance at December 31, 2020 551166..55 339999..00 110055..22 4455..44 11,,006666..11 (8) Trade and other receivables Accumulated depreciation 2020 Opening balance at January 1, 2020 ((118866..77)) ((335522..99)) ((8855..33)) –– ((662244..99)) in CHF million 22002200 2019 Currency translation adjustment 0.1 0.3 0.1 – 0.5 Short-term Long-term TToottaall Short-term Long-term TToottaall Additions (12.8) (13.5) (5.1) – (31.4) Disposals 0.4 4.9 0.7 – 6.0 Trade accounts receivables from third parties 17.8 – 17.8 25.0 – 25.0 Closing balance at December 31, 2020 ((119999..00)) ((336611..22)) ((8899..66)) –– ((664499..88)) Trade accounts receivables from Group companies 641.3 – 641.3 616.4 – 616.4 Total trade accounts receivables 665599..11 –– 665599..11 664411..44 –– 664411..44 Net book values at December 31, 2020 331177..55 3377..88 1155..66 4455..44 441166..33 Net book values at December 31, 2019 286.6 34.6 17.6 64.4 403.2 Other accounts receivables from third parties 18.6 – 18.6 11.9 – 11.9 Other accounts receivables from Group companies 42.9 – 42.9 34.7 – 34.7 Total other accounts receivables 6611..55 –– 6611..55 4466..66 –– 4466..66 (6) Financial investments Total trade and other receivables 772200..66 –– 772200..66 668888..00 –– 668888..00 in CHF million Share- Loans to Other TToottaall holdings Group financial The contractual maturity of short-term receivables is less than one year and for long-term receivables over one year. companies investments Cost 2020 (9) Equity Opening balance at January 1, 2020 11,,999955..00 3311..44 1177..99 22,,004444..33 Additions 53.4 – 1.3 54.7 in CHF million Share Legal Foreign Retained TToottaall Disposals (0.4) (4.1) (0.9) (5.4) capital reserves currency earnings eeqquuiittyy Closing balance at December 31, 2020 22,,004488..00 2277..33 1188..33 22,,009933..66 translation reserve Accumulated valuation allowance 2020 Opening balance at January 1, 2020 ((4411..44)) –– –– ((4411..44)) Equity at January 1, 2020 112266..77 110088..44 ((1177..11)) 22,,661111..88 22,,882299..88 Additions (163.7) – – (163.7) Dividend paid – – – (294.0) (294.0) Closing balance at December 31, 2020 ((220055..11)) –– –– ((220055..11)) Foreign currency translation differences – – (0.3) – (0.3) Net income – – – 343.4 343.4 Net book values at December 31, 2020 11,,884422..99 2277..33 1188..33 11,,888888..55 Equity at December 31, 2020 112266..77 110088..44 ((1177..44)) 22,,666611..22 22,,887788..99 Net book values at December 31, 2019 1,953.6 31.4 17.9 2,002.9 The share capital consists of 253,440 registered shares with a par value of CHF 500 each. A list of Group companies, directly or indirectly held by Hilti Corporation, is included in note (41) of this Financial Report. Pursuant to The currency translation differences arise from the inclusion of the income statement and balance sheet items of plant Thüringen, Austria, Article 1094 (3) of the PGR, some details relating to investments in Group companies have not been disclosed in this list. which are denominated in euro. The foreign currency translation reserve comprises the accumulated foreign currency gains and losses recognized in equity since 2003. 2020 Financial Report | 80 2020 Financial Report | 81