Notes to the Financial Statements Hilti Corporation Notes to the Financial Statements Hilti Corporation (10) Provisions (13) Personnel expenses in CHF million 22002200 2019 in CHF million 22002200 2019 Provision for employee benefits 35.0 36.6 Wages and salaries (253.2) (279.4) Tax obligations 46.2 49.4 Pension contributions (41.3) (42.0) Other provisions 3.9 7.5 Other social contributions (12.6) (17.7) Total provisions 8855..11 9933..55 Total personnel expenses ((330077..11)) ((333399..11)) Other provisions relate mainly to product liability. (14) Depreciation and amortization (11) Borrowings, payables and other liabilities This position comprises depreciation and amortization of intangible assets and property, plant and equipment. in CHF million 22002200 2019 (15) Financial revenues Short–term Long–term TToottaall Short–term Long–term TToottaall in CHF million 22002200 2019 1.875% bond 2013/2023 – 100.0 100.0 – 100.0 100.0 0.200% bond 2017/2024 – 100.0 100.0 – 100.0 100.0 Recovery of depreciation on financial assets 00..99 77..00 0.400% bond 2017/2027 – 99.9 99.9 – 99.9 99.9 0.050% bond 2020/2025 –– 149.9 149.9 –– –– –– Financial investment revenues from third parties 1.5 1.7 Total bonds –– 444499..88 444499..88 –– 229999..99 229999..99 Financial investment revenues from Group companies 184.7 65.8 Total revenues from financial investments 118866..22 6677..55 Bank borrowings 00..22 –– 00..22 –– –– –– Revenues from cash and marketable securities invested with third parties – – Trade accounts payables third parties 152.8 – 152.8 145.8 – 145.8 Revenues from cash and marketable securities invested with Group companies – – Trade accounts payables Group companies 138.4 – 138.4 147.1 – 147.1 Total revenues from cash and marketable securities –– –– Total trade accounts payables 229911..22 –– 229911..22 229922..99 –– 229922..99 Total financial revenues 118877..11 7744..55 Other liabilities owing to third parties 14.6 8.2 22.8 18.1 24.0 42.1 Other liabilities owing to Group companies 263.0 – 263.0 299.3 – 299.3 (16) Financial expenses Total other liabilities 227777..66 88..22 228855..88 331177..44 2244..00 334411..44 in CHF million 22002200 2019 Total borrowings, payables and other liabilities 556699..00 445588..00 11,,002277..00 661100..33 332233..99 993344..22 Depreciation on financial assets ((116633..77)) ((11..44)) The contractual maturity of short-term liabilities is less than one year and for long-term liabilities over one year. Interest and similar expenses incurred to third parties (5.7) (4.0) (12) Material costs Interest and similar expenses incurred to group companies (3.5) (2.3) Total interest and similar expenses ((99..22)) ((66..33)) in CHF million 22002200 2019 Operating currency and hedge gains/(losses) ((2200..44)) ((1155..11)) Raw materials, consumables and bought-in goods for resale (1,236.3) (1,434.9) Outsourced manufacturing (12.4) (13.2) Total financial expenses ((119933..33)) ((2222..88)) Total material costs ((11,,224488..77)) ((11,,444488..11)) 2020 Financial Report | 82 2020 Financial Report | 83