Notes to the Consolidated Financial Statements Other payables primarily consist of liabilities for personnel expenses totaling CHF 9.2 million (2019: CHF 8.2 million), liabilities for social contributions totaling CHF 21.7 million (2019: CHF 33.5 million), liabilities for source-deducted taxes and VAT totaling CHF 104.9 million (2019: CHF 88.8 million) and customers with credit balances totaling CHF 44.9 million (2019: CHF 36.7 million). (25) Accrued liabilities and deferred income Accrued liabilities and deferred income comprise short-term liabilities, which include estimates, short-term expense accruals and deferrals of income already received but attributable to subsequent accounting periods. (26) Short-term bank borrowings in CHF million 22002200 2019 Currency EUR 49.1 48.4 USD 25.5 88.6 RUB 21.1 28.4 Other 47.2 60.6 Total short-term bank borrowings 114422..99 222266..00 In 2020, CHF 11.9 million (2019: CHF 17.6 million) of the total short-term bank borrowings are secured by the underlying assets subleased to customers in the same amount (see note (23)). In addition, CHF 27.5 million (2019: CHF 30.9 million) of the total short-term bank borrowings are secured by receivables in the same amount (see note (14)). (27) Operating income Categories of operating revenues are as follows: in CHF million 22002200 2019 Net sales of goods 4,927.4 5,501.7 Net sales of services 404.8 398.2 Total net sales 55,,333322..22 55,,889999..99 Other operating revenues 149.4 154.9 Total operating revenues 55,,448811..66 66,,005544..88 The above categories ‘net sales of goods’ and ‘net sales of services’ in terms of IFRS 15 ‘Revenue from Contract with Customers’ represent, respectively, revenue from sales of goods and revenue from rendering of services, such as logistics, repairs (including service warranty), tests and trainings. Other operating income, amongst others, consists of finance lease interests including related risk premiums. A breakdown of net sales by geographical areas and by major countries is given in note (34). The revenue recognized that was included in the contract liabilities balance at the beginning of the period totals CHF 111.8 million (2019: CHF 116.6 million). 2020 Financial Report | 59