Group Financial Statements Group Financial Statements CONSOLIDATED INCOME STATEMENT CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME in CHF million Note 22002200 2019 in CHF million Note 22002200 2019 Net sales 27 5,332.2 5,899.9 Net income 553300..77 559911..22 Other operating income 27 149.4 154.9 Total operating income 55,,448811..66 66,,005544..88 Net movement on cash flow hedges 16 (1.7) (1.6) Deferred tax on net movement on cash flow hedges 19 0.2 0.2 Change in inventory 28 (29.0) (25.4) Foreign currency translation differences 19 (57.6) (48.1) Material costs 28 (1,416.2) (1,623.0) Deferred tax on foreign currency translation differences 19 0.5 0.2 Personnel expenses 29 (2,282.4) (2,452.8) Items that may be subsequently reclassified to the income Depreciation and amortization 7/8/9 (394.9) (374.0) statement ((5588..66)) ((4499..33)) Losses on trade and other receivables (51.7) (51.9) Other operating expenses 30 (579.2) (745.1) Remeasurements on employee benefits 21 18.6 (81.7) Total operating expenses ((44,,775533..44)) ((55,,227722..22)) Deferred tax on remeasurements on employee benefits 19 (2.0) 13.4 Items that will never be reclassified to the income statement 1166..66 ((6688..33)) Operating result 772288..22 778822..66 Other comprehensive income (OCI) ((4422..00)) ((111177..66)) Other income and expenses (net) 31 (28.9) (13.5) Finance costs 32 (47.7) (53.3) Total comprehensive income 448888..77 447733..66 Net income before income tax expense 665511..66 771155..88 Attributable to: Equity holders of the parent 488.6 470.6 Income tax expense 33 (120.9) (124.6) Non-controlling interests 0.1 3.0 Net income 553300..77 559911..22 Attributable to: Equity holders of the parent 529.9 588.1 Non-controlling interests 0.8 3.1 2020 Financial Report | 14 2020 Financial Report | 15