Notes to the Consolidated Financial Statements Notes to the Consolidated Financial Statements in CHF million 22002200 2019 (34.3) Net sales information for major countries Net income before income tax 665511..66 771155..88 in CHF million 22002200 2019 Tax calculated at domestic tax rates applicable to profits in the respective countries (109.4) (115.4) USA 1,100.1 1,219.8 Income not subject to tax 3.3 6.4 Germany 826.3 834.4 Expenses not deductible for tax purposes (8.5) (10.1) France 417.2 476.0 Utilization of previously unrecognized tax losses 1.2 1.5 Liechtenstein (country of domicile) 63.4 71.6 Tax losses for which no deferred tax asset has been recognized (2.8) (1.2) Other countries 2,925.2 3,298.1 Tax attributable to prior years (2.4) 0.7 Total Group 55,,333322..22 55,,889999..99 Other effects (2.3) (6.5) Net sales by major countries are based on the country of domicile of the respective Group companies. Income tax expense ((112200..99)) ((112244..66)) The Group has no customer exceeding the threshold of 10% of the Group’s net sales. Weighted average applicable tax rate 16.8% 16.1% (34.4) Selected non-current assets information for major countries* The line ‘Other effects’ includes the effects of changes in tax rates and expenses or incomes subject to different tax rates. in CHF million 22002200 2019 (34) Segment information Liechtenstein (country of domicile) 1,188.7 1,117.0 Germany 286.0 259.9 In accordance with IFRS 8 Operating Segments the Group operates in only one single operating segment. Additional information USA 148.5 164.6 concerning products, services and geographical areas is as follows: Norway 133.0 149.9 Other countries 571.1 591.7 (34.1) Net sales information about products and services Total Group 22,,332277..33 22,,228833..11 in CHF million 22002200 2019 * Excluding non-current financial assets and deferred taxes Electric Tools & Accessories Products 2,240.2 2,517.2 Electric Tools & Accessories Services 352.7 356.1 (35) Contingent liabilities Total Electric Tools & Accessories 22,,559922..99 22,,887733..33 in CHF million 22002200 2019 Fastening & Protection Systems Products 2,687.2 2,984.5 Fastening & Protection Systems Services 52.1 42.1 Guarantees 3.7 5.6 Total Fastening & Protection Systems 22,,773399..33 33,,002266..66 Other contingent liabilities 1.7 1.7 Total contingent liabilities 55..44 77..33 Total Group 55,,333322..22 55,,889999..99 Management considers the possibility of any outflow in settlement to be remote. (34.2) Net sales information about geographical areas in CHF million 22002200 2019 Change in Change in (36) Other commitments CHF (%) local currencies Capital commitments contracted for at the end of the reporting period but not yet incurred are as follows: (%) in CHF million 22002200 2019 Europe excl. Eastern Europe 2,718.2 2,900.2 (6.3) (2.7) Intangible assets – 0.1 North America 1,306.1 1,444.9 (9.6) (4.3) Property, plant and equipment 18.0 17.7 Latin America 98.7 132.0 (25.2) (8.1) Total at December 31 1188..00 1177..88 Asia/Pacific 670.2 764.8 (12.4) (7.0) Eastern Europe/Middle East/Africa 539.0 658.0 (18.1) (8.2) (37) Financial assets pledged as collateral Total Group 55,,333322..22 55,,889999..99 ((99..66)) ((44..33)) Details of receivables pledged as collateral for recognized liabilities are given in note (14). There are no other financial assets pledged as Net sales information by geographical areas is based on the country of the third-party customer. collateral for recognized liabilities or for contingent liabilities. 2020 Financial Report | 62 2020 Financial Report | 63