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"value": "-3300000", "decimals": -5, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_357": { "value": "15600000", "decimals": -5, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_362": { "value": "495500000", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_363": { "value": "490400000", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_197A": { "value": "1031200000", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_196A": { "value": "1295300000", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_364": { "value": "-535800000", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInWorkingCapital", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_365": { "value": "289400000", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInWorkingCapital", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_366": { "value": "-259300000", "decimals": -5, "dimensions": { "concept": "KONE:AdjustmentsForDepreciationAndAmortizationExpense", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_367": { "value": "-244000000", "decimals": -5, "dimensions": { "concept": "KONE:AdjustmentsForDepreciationAndAmortizationExpense", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_320A": { "value": "754700000", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperations", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_321A": { "value": "1828700000", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperations", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_374": { "value": "-2164100000", "decimals": -5, "dimensions": { "concept": "KONE:InterestBearingNetDebtAtBeginningOfPeriod", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_375": { "value": "-1953800000", "decimals": -5, "dimensions": { "concept": "KONE:InterestBearingNetDebtAtBeginningOfPeriod", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_376": { "value": "-1309000000", "decimals": -5, "dimensions": { "concept": "KONE:InterestBearingNetDebtAtEndOfPeriod", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_377": { "value": "-2164100000", "decimals": -5, "dimensions": { "concept": "KONE:InterestBearingNetDebtAtEndOfPeriod", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_368": { "value": "855100000", "decimals": -5, "dimensions": { "concept": "KONE:ChangeInInterestBearingNetDebt", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_369": { "value": "-210200000", "decimals": -5, "dimensions": { "concept": "KONE:ChangeInInterestBearingNetDebt", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_93": { "value": "
1
\u00a0
Basis
\u00a0
of
\u00a0
preparation
IN
\u00a0
THIS
\u00a0
SECTION
\u25fe
Basis
\u00a0
of
\u00a0
preparation
\u00a0
\u25fe
Consolidation
\u00a0
principles
\u25fe
Segment
\u00a0
information
\u25fe
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
management
\u00a0
judgements
Accounting
\u00a0
principles
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
connection
\u00a0
with
\u00a0
notes
\u00a0
in
\u00a0
sections
\u00a0
2\u20136
Basis
\u00a0
of
\u00a0
preparation
KONE Corporation
\u00a0
is
\u00a0
a
\u00a0
Finnish,
public limited company
\u00a0
domiciled
\u00a0
in
Helsinki, Finland
.
KONE Corporation
\u00a0
and
\u00a0
its
\u00a0
subsidiaries
\u00a0
together
\u00a0
form
\u00a0
the
\u00a0
KONE
\u00a0
Group
\u00a0
(\u201cKONE\u201d
\u00a0
or
\u00a0
\u201cthe
\u00a0
Group\u201d).
\u00a0
KONE
\u00a0
is
global
\u00a0
leader
\u00a0
in
\u00a0
the
\u00a0
elevator
\u00a0
and
\u00a0
escalator
\u00a0
industry
\u00a0
with
\u00a0
a
\u00a0
vision
\u00a0
to
\u00a0
make
\u00a0
the
\u00a0
world\u2019s
\u00a0
cities
\u00a0
better
\u00a0
and
\u00a0
more
\u00a0
sustainable
\u00a0
places
\u00a0
to
\u00a0
live.
KONE provides elevators, escalators and automatic building
doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle
.
\u00a0
Through
\u00a0
more
\u00a0
effective
\u00a0
People
\u00a0
Flow\u00ae,
\u00a0
KONE\u2019s
\u00a0
ambition
\u00a0
is
\u00a0
to
\u00a0
make
\u00a0
people's
journeys
\u00a0
safe,
\u00a0
convenient
\u00a0
and
\u00a0
reliable,
\u00a0
in
\u00a0
taller,
\u00a0
smarter
\u00a0
buildings.
KONE operates in more than 60 countries around the world
,
\u00a0
serving
\u00a0
over
\u00a0
550,000
\u00a0
customers.
\u00a0
Headquartered
\u00a0
in
\u00a0
Helsinki,
\u00a0
Finland,
we
\u00a0
have
\u00a0
eight
\u00a0
global
\u00a0
R&D
\u00a0
units
\u00a0
and
\u00a0
10
\u00a0
manufacturing
\u00a0
units
\u00a0
in
\u00a0
seven
\u00a0
countries,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
a
\u00a0
worldwide
\u00a0
network
\u00a0
of
\u00a0
agents
\u00a0
and
\u00a0
authorized
\u00a0
distributors.
The
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
of
KONE Corporation
\u00a0
have
\u00a0
been
\u00a0
prepared
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
International
\u00a0
Financial
\u00a0
Reporting
\u00a0
Standards
\u00a0
(IFRS)
\u00a0
as
\u00a0
adopted
\u00a0
by
\u00a0
the
\u00a0
European
\u00a0
Union,
observing
\u00a0
the
\u00a0
standards
\u00a0
and
\u00a0
interpretations
\u00a0
effective
\u00a0
on
\u00a0
December
\u00a0
31,
\u00a0
2022.
KONE
\u00a0
has
\u00a0
adopted
\u00a0
the
\u00a0
new
\u00a0
standards
\u00a0
and
\u00a0
interpretations
\u00a0
that
\u00a0
took
\u00a0
effect
\u00a0
during
\u00a0
the
\u00a0
accounting
\u00a0
period
\u00a0
and
\u00a0
are
\u00a0
relevant
\u00a0
to
\u00a0
its
\u00a0
operations.
\u00a0
The
\u00a0
IFRS
\u00a0
standards
\u00a0
and
\u00a0
amendments
\u00a0
thereto
\u00a0
that
\u00a0
took
effect
\u00a0
in
\u00a0
2022
\u00a0
did
\u00a0
not
\u00a0
have
\u00a0
a
\u00a0
material
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
result
\u00a0
or
\u00a0
the
\u00a0
financial
\u00a0
position
\u00a0
of
\u00a0
the
\u00a0
Group
\u00a0
or
\u00a0
on
\u00a0
the
\u00a0
presentation
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
statements.
The
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
have
\u00a0
been
\u00a0
prepared
\u00a0
for
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
of
\u00a0
12
\u00a0
months
\u00a0
from
\u00a0
January
\u00a0
1
\u00a0
to
\u00a0
December
\u00a0
31,
\u00a0
2022.
\u00a0
The
\u00a0
financial
\u00a0
statements
\u00a0
have
\u00a0
been
\u00a0
authorized
\u00a0
for
\u00a0
issue
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
KONE Corporation
\u00a0
on
\u00a0
January
\u00a0
26,
\u00a0
2023.
\u00a0
According
\u00a0
to
\u00a0
the
\u00a0
Finnish
\u00a0
Companies\u2019
\u00a0
Act
\u00a0
the
\u00a0
Annual
\u00a0
General
\u00a0
Meeting
\u00a0
has
\u00a0
the
\u00a0
right
\u00a0
to
\u00a0
approve,
\u00a0
reject
\u00a0
or
\u00a0
make
\u00a0
changes
\u00a0
to
\u00a0
the
financial
\u00a0
statements
\u00a0
after
\u00a0
the
\u00a0
publication.
The
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
millions
\u00a0
of
\u00a0
euros
\u00a0
and
\u00a0
prepared
\u00a0
under
\u00a0
the
\u00a0
historical
\u00a0
cost
\u00a0
convention
\u00a0
except
\u00a0
as
\u00a0
disclosed
\u00a0
in
\u00a0
the
\u00a0
accounting
\u00a0
principles.
\u00a0
Further,
\u00a0
trade
\u00a0
date
accounting
\u00a0
has
\u00a0
been
\u00a0
applied
\u00a0
to
\u00a0
all
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities.
\u00a0
Amounts
\u00a0
presented
\u00a0
in
\u00a0
these
\u00a0
financial
\u00a0
statements
\u00a0
have
\u00a0
been
\u00a0
rounded
\u00a0
from
\u00a0
exact
\u00a0
values
\u00a0
and
\u00a0
therefore
\u00a0
the
\u00a0
sum
\u00a0
of
\u00a0
amounts
presented
\u00a0
individually
\u00a0
can
\u00a0
deviate
\u00a0
from
\u00a0
the
\u00a0
presented
\u00a0
sum
\u00a0
amount
\u00a0
calculated
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
exact
\u00a0
values.
\u00a0
Key
\u00a0
figures
\u00a0
have
\u00a0
been
\u00a0
calculated
\u00a0
using
\u00a0
exact
\u00a0
values.
CONSOLIDATION
\u00a0
PRINCIPLES
The
\u00a0
consolidated
\u00a0
accounts
\u00a0
include
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
and
\u00a0
those
\u00a0
companies
\u00a0
in
\u00a0
which
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
held,
\u00a0
directly
\u00a0
or
\u00a0
indirectly,
\u00a0
more
\u00a0
than
\u00a0
50
\u00a0
percent
\u00a0
of
\u00a0
the
\u00a0
voting
\u00a0
power
\u00a0
or
\u00a0
had
\u00a0
control
through
\u00a0
management
\u00a0
agreements
\u00a0
with
\u00a0
shareholders
\u00a0
holding
\u00a0
the
\u00a0
majority
\u00a0
of
\u00a0
the
\u00a0
voting
\u00a0
power
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
In
\u00a0
addition
\u00a0
to
\u00a0
these
\u00a0
holdings,
\u00a0
the
\u00a0
consolidated
\u00a0
accounts
\u00a0
include
possible
\u00a0
holdings
\u00a0
that
\u00a0
are
\u00a0
of
\u00a0
a
\u00a0
controlling
\u00a0
-right
\u00a0
nature
\u00a0
(units/companies
\u00a0
established
\u00a0
for
\u00a0
a
\u00a0
specific
\u00a0
reason).
Subsidiaries
\u00a0
acquired
\u00a0
during
\u00a0
the
\u00a0
period
\u00a0
were
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
from
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
acquiring
\u00a0
the
\u00a0
control,
\u00a0
and
\u00a0
divested
\u00a0
subsidiaries
\u00a0
up
\u00a0
to
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
loss
\u00a0
of
\u00a0
control.
The
\u00a0
acquisition
\u00a0
consideration,
\u00a0
including
\u00a0
deferred
\u00a0
and
\u00a0
contingent
\u00a0
consideration,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
identifiable
\u00a0
assets
\u00a0
acquired
\u00a0
and
\u00a0
liabilities
\u00a0
assumed,
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
the
\u00a0
acquisition
\u00a0
date
\u00a0
fair
\u00a0
values.
The
\u00a0
acquisition-related
\u00a0
costs
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
period
\u00a0
in
\u00a0
which
\u00a0
they
\u00a0
are
\u00a0
incurred.
At
\u00a0
the
\u00a0
acquisition
\u00a0
date,
\u00a0
the
\u00a0
non-controlling
\u00a0
interests
\u00a0
are
\u00a0
valued
\u00a0
either
\u00a0
at
\u00a0
the
\u00a0
acquisition
\u00a0
date
\u00a0
fair
\u00a0
values
\u00a0
or
\u00a0
at
\u00a0
non-controlling
\u00a0
interests\u2019
\u00a0
proportionate
\u00a0
share
\u00a0
in
\u00a0
the
\u00a0
recognized
\u00a0
amounts
\u00a0
of
\u00a0
the
identifiable
\u00a0
net
\u00a0
assets.
\u00a0
Consolidated
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
includes
\u00a0
an
\u00a0
allocation
\u00a0
of
\u00a0
net
\u00a0
income
\u00a0
between
\u00a0
the
\u00a0
shareholders
\u00a0
of
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
and
\u00a0
the
\u00a0
non-controlling
\u00a0
interest.
\u00a0
The
\u00a0
allocation
\u00a0
of
\u00a0
the
comprehensive
\u00a0
income
\u00a0
to
\u00a0
the
\u00a0
shareholders
\u00a0
of
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
and
\u00a0
non-controlling
\u00a0
interests
\u00a0
is
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
comprehensive
\u00a0
income.
\u00a0
Non-controlling
\u00a0
interests\u2019
\u00a0
share
\u00a0
of
\u00a0
total
equity
\u00a0
is
\u00a0
presented
\u00a0
separately
\u00a0
under
\u00a0
total
\u00a0
consolidated
\u00a0
equity.
All
\u00a0
inter-corporate
\u00a0
transactions,
\u00a0
receivables,
\u00a0
liabilities
\u00a0
and
\u00a0
unrealized
\u00a0
profits,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
distribution
\u00a0
of
\u00a0
profits
\u00a0
within
\u00a0
the
\u00a0
Group
\u00a0
have
\u00a0
been
\u00a0
eliminated
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements.
Inter
\u00a0
-corporate
\u00a0
shareholdings
\u00a0
have
\u00a0
been
\u00a0
eliminated
\u00a0
using
\u00a0
the
\u00a0
acquisition
\u00a0
method.
The
\u00a0
results
\u00a0
and
\u00a0
financial
\u00a0
position
\u00a0
of
\u00a0
foreign
\u00a0
operations
\u00a0
that
\u00a0
have
\u00a0
a
\u00a0
functional
\u00a0
currency
\u00a0
different
\u00a0
from
\u00a0
the
\u00a0
presentation
\u00a0
currency
\u00a0
of
\u00a0
the
\u00a0
Group,
\u00a0
have
\u00a0
been
\u00a0
translated
\u00a0
into
\u00a0
the
\u00a0
presentation
\u00a0
currency
as
\u00a0
follows:
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
at
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
date
\u00a0
closing
\u00a0
rate,
\u00a0
and
\u00a0
income
\u00a0
and
\u00a0
expenses
\u00a0
at
\u00a0
average
\u00a0
exchange
\u00a0
rates
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
The
\u00a0
resulting
\u00a0
exchange
\u00a0
rate
differences
\u00a0
have
\u00a0
been
\u00a0
recognized
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income.
HYPERINFLATION
Following
\u00a0
continued
\u00a0
growth
\u00a0
in
\u00a0
inflation
\u00a0
rate
\u00a0
in
\u00a0
2022,
\u00a0
the
\u00a0
accounting
\u00a0
firms
\u00a0
and
\u00a0
regulatory
\u00a0
authorities
\u00a0
have
\u00a0
based
\u00a0
on
\u00a0
criteria
\u00a0
set-out
\u00a0
in
\u00a0
IAS
\u00a0
29
\u00a0
classified
\u00a0
T\u00fcrkiye
\u00a0
as
\u00a0
a
\u00a0
hyperinflationary
\u00a0
economy
\u00a0
for
reporting
\u00a0
periods
\u00a0
ending
\u00a0
on
\u00a0
or
\u00a0
after
\u00a0
June
\u00a0
30,
\u00a0
2022.
\u00a0
KONE
\u00a0
is
\u00a0
active
\u00a0
in
\u00a0
both
\u00a0
new
\u00a0
equipment
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
service
\u00a0
business
\u00a0
in
\u00a0
T\u00fcrkiye
\u00a0
through
\u00a0
its
\u00a0
local
\u00a0
subsidiary.
\u00a0
KONE
\u00a0
has
\u00a0
assessed
\u00a0
the
\u00a0
impact
\u00a0
of
application
\u00a0
of
\u00a0
hyperinflationary
\u00a0
accounting
\u00a0
for
\u00a0
the
\u00a0
Group
\u00a0
concluding
\u00a0
that
\u00a0
this
\u00a0
would
\u00a0
be
\u00a0
immaterial.
\u00a0
Consequently,
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
or
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
does
\u00a0
not
reflect
\u00a0
the
\u00a0
impact
\u00a0
arising
\u00a0
from
\u00a0
remeasurement
\u00a0
of
\u00a0
operations
\u00a0
in
\u00a0
T\u00fcrkiye
\u00a0
for
\u00a0
hyperinflation.
SEGMENT
\u00a0
REPORTING
The
\u00a0
profitability
\u00a0
of
\u00a0
KONE
\u00a0
is
\u00a0
presented
\u00a0
as
\u00a0
a
\u00a0
single
\u00a0
entity.
\u00a0
KONE\u2019s
\u00a0
business
\u00a0
concept
\u00a0
is
\u00a0
to
\u00a0
serve
\u00a0
its
\u00a0
customers
\u00a0
by
\u00a0
providing
\u00a0
solutions
\u00a0
throughout
\u00a0
the
\u00a0
entire
\u00a0
life
\u00a0
cycle
\u00a0
of
\u00a0
the
\u00a0
equipment,
\u00a0
beginning
\u00a0
from
the
\u00a0
installation
\u00a0
of
\u00a0
new
\u00a0
equipment
\u00a0
to
\u00a0
the
\u00a0
maintenance
\u00a0
and
\u00a0
modernization
\u00a0
during
\u00a0
their
\u00a0
life
\u00a0
cycle
\u00a0
and
\u00a0
the
\u00a0
full
\u00a0
replacement
\u00a0
of
\u00a0
the
\u00a0
equipment.
\u00a0
Most
\u00a0
of
\u00a0
the
\u00a0
equipment
\u00a0
that
\u00a0
are
\u00a0
delivered
\u00a0
are
\u00a0
converted
\u00a0
into
long
\u00a0
-term
\u00a0
KONE
\u00a0
maintenance
\u00a0
contracts.
\u00a0
KONE\u2019s
\u00a0
operating
\u00a0
business
\u00a0
structure
\u00a0
is
\u00a0
globally
\u00a0
harmonized
\u00a0
based
\u00a0
on
\u00a0
defined
\u00a0
business
\u00a0
processes.
\u00a0
Material
\u00a0
operative
\u00a0
decisions
\u00a0
are
\u00a0
made
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
Directors
\u00a0
of
\u00a0
KONE.
\u00a0
Such
\u00a0
decisions
\u00a0
are
\u00a0
prepared
\u00a0
and
\u00a0
presented
\u00a0
by
\u00a0
the
\u00a0
Chairman
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
and
\u00a0
the
\u00a0
President
\u00a0
and
\u00a0
Chief
\u00a0
Executive
\u00a0
Officer.
\u00a0
Due
\u00a0
to
\u00a0
the
\u00a0
business
\u00a0
model
\u00a0
of
\u00a0
KONE,
\u00a0
the
\u00a0
nature
\u00a0
of
\u00a0
its
operations
\u00a0
and
\u00a0
its
\u00a0
governance
\u00a0
structure,
\u00a0
the
\u00a0
Group
\u00a0
as
\u00a0
a
\u00a0
whole
\u00a0
is
\u00a0
considered
\u00a0
the
\u00a0
relevant
\u00a0
operating
\u00a0
segment
\u00a0
to
\u00a0
be
\u00a0
reported.
ACCOUNTING
\u00a0
ESTIMATES
\u00a0
AND
\u00a0
MANAGEMENT
\u00a0
JUDGEMENTS
The
\u00a0
preparation
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
statements
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
IFRS
\u00a0
requires
\u00a0
management
\u00a0
to
\u00a0
make
\u00a0
judgements,
\u00a0
estimates
\u00a0
and
\u00a0
assumptions
\u00a0
that
\u00a0
affect
\u00a0
the
\u00a0
measurement
\u00a0
of
\u00a0
the
\u00a0
reported
\u00a0
assets
and
\u00a0
liabilities
\u00a0
and
\u00a0
other
\u00a0
information,
\u00a0
such
\u00a0
as
\u00a0
contingent
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
and
\u00a0
the
\u00a0
recognition
\u00a0
of
\u00a0
income
\u00a0
and
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
Although
\u00a0
these
\u00a0
estimates
\u00a0
and
assumptions
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
management\u2019s
\u00a0
best
\u00a0
knowledge
\u00a0
of
\u00a0
current
\u00a0
events,
\u00a0
actual
\u00a0
results
\u00a0
may
\u00a0
differ
\u00a0
from
\u00a0
the
\u00a0
estimates.
For
\u00a0
KONE
\u00a0
the
\u00a0
most
\u00a0
significant
\u00a0
judgements,
\u00a0
estimates
\u00a0
and
\u00a0
assumptions
\u00a0
made
\u00a0
by
\u00a0
the
\u00a0
management
\u00a0
relate
\u00a0
to
\u00a0
revenue
\u00a0
recognition,
\u00a0
especially
\u00a0
to
\u00a0
defining
\u00a0
and
\u00a0
determining
\u00a0
principles
\u00a0
for
\u00a0
revenue
recognition
\u00a0
in
\u00a0
project
\u00a0
business,
\u00a0
to
\u00a0
project
\u00a0
estimates
\u00a0
for
\u00a0
long-term
\u00a0
major
\u00a0
projects,
\u00a0
assumptions
\u00a0
used
\u00a0
in
\u00a0
impairment
\u00a0
testing,
\u00a0
valuation
\u00a0
of
\u00a0
accounts
\u00a0
receivables
\u00a0
and
\u00a0
inventories,
\u00a0
determining
\u00a0
the
\u00a0
lease
term
\u00a0
applied
\u00a0
in
\u00a0
the
\u00a0
lease
\u00a0
accounting
\u00a0
and
\u00a0
recognition
\u00a0
of
\u00a0
provisions
\u00a0
and
\u00a0
evaluation
\u00a0
of
\u00a0
uncertain
\u00a0
tax
\u00a0
positions.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_83": { "value": "
1
\u00a0
Basis
\u00a0
of
\u00a0
preparation
IN
\u00a0
THIS
\u00a0
SECTION
\u25fe
Basis
\u00a0
of
\u00a0
preparation
\u00a0
\u25fe
Consolidation
\u00a0
principles
\u25fe
Segment
\u00a0
information
\u25fe
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
management
\u00a0
judgements
Accounting
\u00a0
principles
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
connection
\u00a0
with
\u00a0
notes
\u00a0
in
\u00a0
sections
\u00a0
2\u20136
Basis
\u00a0
of
\u00a0
preparation
KONE Corporation
\u00a0
is
\u00a0
a
\u00a0
Finnish,
public limited company
\u00a0
domiciled
\u00a0
in
Helsinki, Finland
.
KONE Corporation
\u00a0
and
\u00a0
its
\u00a0
subsidiaries
\u00a0
together
\u00a0
form
\u00a0
the
\u00a0
KONE
\u00a0
Group
\u00a0
(\u201cKONE\u201d
\u00a0
or
\u00a0
\u201cthe
\u00a0
Group\u201d).
\u00a0
KONE
\u00a0
is
global
\u00a0
leader
\u00a0
in
\u00a0
the
\u00a0
elevator
\u00a0
and
\u00a0
escalator
\u00a0
industry
\u00a0
with
\u00a0
a
\u00a0
vision
\u00a0
to
\u00a0
make
\u00a0
the
\u00a0
world\u2019s
\u00a0
cities
\u00a0
better
\u00a0
and
\u00a0
more
\u00a0
sustainable
\u00a0
places
\u00a0
to
\u00a0
live.
KONE provides elevators, escalators and automatic building
doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle
.
\u00a0
Through
\u00a0
more
\u00a0
effective
\u00a0
People
\u00a0
Flow\u00ae,
\u00a0
KONE\u2019s
\u00a0
ambition
\u00a0
is
\u00a0
to
\u00a0
make
\u00a0
people's
journeys
\u00a0
safe,
\u00a0
convenient
\u00a0
and
\u00a0
reliable,
\u00a0
in
\u00a0
taller,
\u00a0
smarter
\u00a0
buildings.
KONE operates in more than 60 countries around the world
,
\u00a0
serving
\u00a0
over
\u00a0
550,000
\u00a0
customers.
\u00a0
Headquartered
\u00a0
in
\u00a0
Helsinki,
\u00a0
Finland,
we
\u00a0
have
\u00a0
eight
\u00a0
global
\u00a0
R&D
\u00a0
units
\u00a0
and
\u00a0
10
\u00a0
manufacturing
\u00a0
units
\u00a0
in
\u00a0
seven
\u00a0
countries,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
a
\u00a0
worldwide
\u00a0
network
\u00a0
of
\u00a0
agents
\u00a0
and
\u00a0
authorized
\u00a0
distributors.
The
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
of
KONE Corporation
\u00a0
have
\u00a0
been
\u00a0
prepared
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
International
\u00a0
Financial
\u00a0
Reporting
\u00a0
Standards
\u00a0
(IFRS)
\u00a0
as
\u00a0
adopted
\u00a0
by
\u00a0
the
\u00a0
European
\u00a0
Union,
observing
\u00a0
the
\u00a0
standards
\u00a0
and
\u00a0
interpretations
\u00a0
effective
\u00a0
on
\u00a0
December
\u00a0
31,
\u00a0
2022.
KONE
\u00a0
has
\u00a0
adopted
\u00a0
the
\u00a0
new
\u00a0
standards
\u00a0
and
\u00a0
interpretations
\u00a0
that
\u00a0
took
\u00a0
effect
\u00a0
during
\u00a0
the
\u00a0
accounting
\u00a0
period
\u00a0
and
\u00a0
are
\u00a0
relevant
\u00a0
to
\u00a0
its
\u00a0
operations.
\u00a0
The
\u00a0
IFRS
\u00a0
standards
\u00a0
and
\u00a0
amendments
\u00a0
thereto
\u00a0
that
\u00a0
took
effect
\u00a0
in
\u00a0
2022
\u00a0
did
\u00a0
not
\u00a0
have
\u00a0
a
\u00a0
material
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
result
\u00a0
or
\u00a0
the
\u00a0
financial
\u00a0
position
\u00a0
of
\u00a0
the
\u00a0
Group
\u00a0
or
\u00a0
on
\u00a0
the
\u00a0
presentation
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
statements.
The
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
have
\u00a0
been
\u00a0
prepared
\u00a0
for
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
of
\u00a0
12
\u00a0
months
\u00a0
from
\u00a0
January
\u00a0
1
\u00a0
to
\u00a0
December
\u00a0
31,
\u00a0
2022.
\u00a0
The
\u00a0
financial
\u00a0
statements
\u00a0
have
\u00a0
been
\u00a0
authorized
\u00a0
for
\u00a0
issue
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
KONE Corporation
\u00a0
on
\u00a0
January
\u00a0
26,
\u00a0
2023.
\u00a0
According
\u00a0
to
\u00a0
the
\u00a0
Finnish
\u00a0
Companies\u2019
\u00a0
Act
\u00a0
the
\u00a0
Annual
\u00a0
General
\u00a0
Meeting
\u00a0
has
\u00a0
the
\u00a0
right
\u00a0
to
\u00a0
approve,
\u00a0
reject
\u00a0
or
\u00a0
make
\u00a0
changes
\u00a0
to
\u00a0
the
financial
\u00a0
statements
\u00a0
after
\u00a0
the
\u00a0
publication.
The
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
millions
\u00a0
of
\u00a0
euros
\u00a0
and
\u00a0
prepared
\u00a0
under
\u00a0
the
\u00a0
historical
\u00a0
cost
\u00a0
convention
\u00a0
except
\u00a0
as
\u00a0
disclosed
\u00a0
in
\u00a0
the
\u00a0
accounting
\u00a0
principles.
\u00a0
Further,
\u00a0
trade
\u00a0
date
accounting
\u00a0
has
\u00a0
been
\u00a0
applied
\u00a0
to
\u00a0
all
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities.
\u00a0
Amounts
\u00a0
presented
\u00a0
in
\u00a0
these
\u00a0
financial
\u00a0
statements
\u00a0
have
\u00a0
been
\u00a0
rounded
\u00a0
from
\u00a0
exact
\u00a0
values
\u00a0
and
\u00a0
therefore
\u00a0
the
\u00a0
sum
\u00a0
of
\u00a0
amounts
presented
\u00a0
individually
\u00a0
can
\u00a0
deviate
\u00a0
from
\u00a0
the
\u00a0
presented
\u00a0
sum
\u00a0
amount
\u00a0
calculated
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
exact
\u00a0
values.
\u00a0
Key
\u00a0
figures
\u00a0
have
\u00a0
been
\u00a0
calculated
\u00a0
using
\u00a0
exact
\u00a0
values.
CONSOLIDATION
\u00a0
PRINCIPLES
The
\u00a0
consolidated
\u00a0
accounts
\u00a0
include
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
and
\u00a0
those
\u00a0
companies
\u00a0
in
\u00a0
which
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
held,
\u00a0
directly
\u00a0
or
\u00a0
indirectly,
\u00a0
more
\u00a0
than
\u00a0
50
\u00a0
percent
\u00a0
of
\u00a0
the
\u00a0
voting
\u00a0
power
\u00a0
or
\u00a0
had
\u00a0
control
through
\u00a0
management
\u00a0
agreements
\u00a0
with
\u00a0
shareholders
\u00a0
holding
\u00a0
the
\u00a0
majority
\u00a0
of
\u00a0
the
\u00a0
voting
\u00a0
power
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
In
\u00a0
addition
\u00a0
to
\u00a0
these
\u00a0
holdings,
\u00a0
the
\u00a0
consolidated
\u00a0
accounts
\u00a0
include
possible
\u00a0
holdings
\u00a0
that
\u00a0
are
\u00a0
of
\u00a0
a
\u00a0
controlling
\u00a0
-right
\u00a0
nature
\u00a0
(units/companies
\u00a0
established
\u00a0
for
\u00a0
a
\u00a0
specific
\u00a0
reason).
Subsidiaries
\u00a0
acquired
\u00a0
during
\u00a0
the
\u00a0
period
\u00a0
were
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
from
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
acquiring
\u00a0
the
\u00a0
control,
\u00a0
and
\u00a0
divested
\u00a0
subsidiaries
\u00a0
up
\u00a0
to
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
loss
\u00a0
of
\u00a0
control.
The
\u00a0
acquisition
\u00a0
consideration,
\u00a0
including
\u00a0
deferred
\u00a0
and
\u00a0
contingent
\u00a0
consideration,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
identifiable
\u00a0
assets
\u00a0
acquired
\u00a0
and
\u00a0
liabilities
\u00a0
assumed,
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
the
\u00a0
acquisition
\u00a0
date
\u00a0
fair
\u00a0
values.
The
\u00a0
acquisition-related
\u00a0
costs
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
period
\u00a0
in
\u00a0
which
\u00a0
they
\u00a0
are
\u00a0
incurred.
At
\u00a0
the
\u00a0
acquisition
\u00a0
date,
\u00a0
the
\u00a0
non-controlling
\u00a0
interests
\u00a0
are
\u00a0
valued
\u00a0
either
\u00a0
at
\u00a0
the
\u00a0
acquisition
\u00a0
date
\u00a0
fair
\u00a0
values
\u00a0
or
\u00a0
at
\u00a0
non-controlling
\u00a0
interests\u2019
\u00a0
proportionate
\u00a0
share
\u00a0
in
\u00a0
the
\u00a0
recognized
\u00a0
amounts
\u00a0
of
\u00a0
the
identifiable
\u00a0
net
\u00a0
assets.
\u00a0
Consolidated
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
includes
\u00a0
an
\u00a0
allocation
\u00a0
of
\u00a0
net
\u00a0
income
\u00a0
between
\u00a0
the
\u00a0
shareholders
\u00a0
of
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
and
\u00a0
the
\u00a0
non-controlling
\u00a0
interest.
\u00a0
The
\u00a0
allocation
\u00a0
of
\u00a0
the
comprehensive
\u00a0
income
\u00a0
to
\u00a0
the
\u00a0
shareholders
\u00a0
of
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
and
\u00a0
non-controlling
\u00a0
interests
\u00a0
is
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
comprehensive
\u00a0
income.
\u00a0
Non-controlling
\u00a0
interests\u2019
\u00a0
share
\u00a0
of
\u00a0
total
equity
\u00a0
is
\u00a0
presented
\u00a0
separately
\u00a0
under
\u00a0
total
\u00a0
consolidated
\u00a0
equity.
All
\u00a0
inter-corporate
\u00a0
transactions,
\u00a0
receivables,
\u00a0
liabilities
\u00a0
and
\u00a0
unrealized
\u00a0
profits,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
distribution
\u00a0
of
\u00a0
profits
\u00a0
within
\u00a0
the
\u00a0
Group
\u00a0
have
\u00a0
been
\u00a0
eliminated
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements.
Inter
\u00a0
-corporate
\u00a0
shareholdings
\u00a0
have
\u00a0
been
\u00a0
eliminated
\u00a0
using
\u00a0
the
\u00a0
acquisition
\u00a0
method.
The
\u00a0
results
\u00a0
and
\u00a0
financial
\u00a0
position
\u00a0
of
\u00a0
foreign
\u00a0
operations
\u00a0
that
\u00a0
have
\u00a0
a
\u00a0
functional
\u00a0
currency
\u00a0
different
\u00a0
from
\u00a0
the
\u00a0
presentation
\u00a0
currency
\u00a0
of
\u00a0
the
\u00a0
Group,
\u00a0
have
\u00a0
been
\u00a0
translated
\u00a0
into
\u00a0
the
\u00a0
presentation
\u00a0
currency
as
\u00a0
follows:
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
at
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
date
\u00a0
closing
\u00a0
rate,
\u00a0
and
\u00a0
income
\u00a0
and
\u00a0
expenses
\u00a0
at
\u00a0
average
\u00a0
exchange
\u00a0
rates
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
The
\u00a0
resulting
\u00a0
exchange
\u00a0
rate
differences
\u00a0
have
\u00a0
been
\u00a0
recognized
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income.
HYPERINFLATION
Following
\u00a0
continued
\u00a0
growth
\u00a0
in
\u00a0
inflation
\u00a0
rate
\u00a0
in
\u00a0
2022,
\u00a0
the
\u00a0
accounting
\u00a0
firms
\u00a0
and
\u00a0
regulatory
\u00a0
authorities
\u00a0
have
\u00a0
based
\u00a0
on
\u00a0
criteria
\u00a0
set-out
\u00a0
in
\u00a0
IAS
\u00a0
29
\u00a0
classified
\u00a0
T\u00fcrkiye
\u00a0
as
\u00a0
a
\u00a0
hyperinflationary
\u00a0
economy
\u00a0
for
reporting
\u00a0
periods
\u00a0
ending
\u00a0
on
\u00a0
or
\u00a0
after
\u00a0
June
\u00a0
30,
\u00a0
2022.
\u00a0
KONE
\u00a0
is
\u00a0
active
\u00a0
in
\u00a0
both
\u00a0
new
\u00a0
equipment
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
service
\u00a0
business
\u00a0
in
\u00a0
T\u00fcrkiye
\u00a0
through
\u00a0
its
\u00a0
local
\u00a0
subsidiary.
\u00a0
KONE
\u00a0
has
\u00a0
assessed
\u00a0
the
\u00a0
impact
\u00a0
of
application
\u00a0
of
\u00a0
hyperinflationary
\u00a0
accounting
\u00a0
for
\u00a0
the
\u00a0
Group
\u00a0
concluding
\u00a0
that
\u00a0
this
\u00a0
would
\u00a0
be
\u00a0
immaterial.
\u00a0
Consequently,
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
or
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
does
\u00a0
not
reflect
\u00a0
the
\u00a0
impact
\u00a0
arising
\u00a0
from
\u00a0
remeasurement
\u00a0
of
\u00a0
operations
\u00a0
in
\u00a0
T\u00fcrkiye
\u00a0
for
\u00a0
hyperinflation.
SEGMENT
\u00a0
REPORTING
The
\u00a0
profitability
\u00a0
of
\u00a0
KONE
\u00a0
is
\u00a0
presented
\u00a0
as
\u00a0
a
\u00a0
single
\u00a0
entity.
\u00a0
KONE\u2019s
\u00a0
business
\u00a0
concept
\u00a0
is
\u00a0
to
\u00a0
serve
\u00a0
its
\u00a0
customers
\u00a0
by
\u00a0
providing
\u00a0
solutions
\u00a0
throughout
\u00a0
the
\u00a0
entire
\u00a0
life
\u00a0
cycle
\u00a0
of
\u00a0
the
\u00a0
equipment,
\u00a0
beginning
\u00a0
from
the
\u00a0
installation
\u00a0
of
\u00a0
new
\u00a0
equipment
\u00a0
to
\u00a0
the
\u00a0
maintenance
\u00a0
and
\u00a0
modernization
\u00a0
during
\u00a0
their
\u00a0
life
\u00a0
cycle
\u00a0
and
\u00a0
the
\u00a0
full
\u00a0
replacement
\u00a0
of
\u00a0
the
\u00a0
equipment.
\u00a0
Most
\u00a0
of
\u00a0
the
\u00a0
equipment
\u00a0
that
\u00a0
are
\u00a0
delivered
\u00a0
are
\u00a0
converted
\u00a0
into
long
\u00a0
-term
\u00a0
KONE
\u00a0
maintenance
\u00a0
contracts.
\u00a0
KONE\u2019s
\u00a0
operating
\u00a0
business
\u00a0
structure
\u00a0
is
\u00a0
globally
\u00a0
harmonized
\u00a0
based
\u00a0
on
\u00a0
defined
\u00a0
business
\u00a0
processes.
\u00a0
Material
\u00a0
operative
\u00a0
decisions
\u00a0
are
\u00a0
made
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
Directors
\u00a0
of
\u00a0
KONE.
\u00a0
Such
\u00a0
decisions
\u00a0
are
\u00a0
prepared
\u00a0
and
\u00a0
presented
\u00a0
by
\u00a0
the
\u00a0
Chairman
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
and
\u00a0
the
\u00a0
President
\u00a0
and
\u00a0
Chief
\u00a0
Executive
\u00a0
Officer.
\u00a0
Due
\u00a0
to
\u00a0
the
\u00a0
business
\u00a0
model
\u00a0
of
\u00a0
KONE,
\u00a0
the
\u00a0
nature
\u00a0
of
\u00a0
its
operations
\u00a0
and
\u00a0
its
\u00a0
governance
\u00a0
structure,
\u00a0
the
\u00a0
Group
\u00a0
as
\u00a0
a
\u00a0
whole
\u00a0
is
\u00a0
considered
\u00a0
the
\u00a0
relevant
\u00a0
operating
\u00a0
segment
\u00a0
to
\u00a0
be
\u00a0
reported.
ACCOUNTING
\u00a0
ESTIMATES
\u00a0
AND
\u00a0
MANAGEMENT
\u00a0
JUDGEMENTS
The
\u00a0
preparation
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
statements
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
IFRS
\u00a0
requires
\u00a0
management
\u00a0
to
\u00a0
make
\u00a0
judgements,
\u00a0
estimates
\u00a0
and
\u00a0
assumptions
\u00a0
that
\u00a0
affect
\u00a0
the
\u00a0
measurement
\u00a0
of
\u00a0
the
\u00a0
reported
\u00a0
assets
and
\u00a0
liabilities
\u00a0
and
\u00a0
other
\u00a0
information,
\u00a0
such
\u00a0
as
\u00a0
contingent
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
and
\u00a0
the
\u00a0
recognition
\u00a0
of
\u00a0
income
\u00a0
and
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
Although
\u00a0
these
\u00a0
estimates
\u00a0
and
assumptions
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
management\u2019s
\u00a0
best
\u00a0
knowledge
\u00a0
of
\u00a0
current
\u00a0
events,
\u00a0
actual
\u00a0
results
\u00a0
may
\u00a0
differ
\u00a0
from
\u00a0
the
\u00a0
estimates.
For
\u00a0
KONE
\u00a0
the
\u00a0
most
\u00a0
significant
\u00a0
judgements,
\u00a0
estimates
\u00a0
and
\u00a0
assumptions
\u00a0
made
\u00a0
by
\u00a0
the
\u00a0
management
\u00a0
relate
\u00a0
to
\u00a0
revenue
\u00a0
recognition,
\u00a0
especially
\u00a0
to
\u00a0
defining
\u00a0
and
\u00a0
determining
\u00a0
principles
\u00a0
for
\u00a0
revenue
recognition
\u00a0
in
\u00a0
project
\u00a0
business,
\u00a0
to
\u00a0
project
\u00a0
estimates
\u00a0
for
\u00a0
long-term
\u00a0
major
\u00a0
projects,
\u00a0
assumptions
\u00a0
used
\u00a0
in
\u00a0
impairment
\u00a0
testing,
\u00a0
valuation
\u00a0
of
\u00a0
accounts
\u00a0
receivables
\u00a0
and
\u00a0
inventories,
\u00a0
determining
\u00a0
the
\u00a0
lease
term
\u00a0
applied
\u00a0
in
\u00a0
the
\u00a0
lease
\u00a0
accounting
\u00a0
and
\u00a0
recognition
\u00a0
of
\u00a0
provisions
\u00a0
and
\u00a0
evaluation
\u00a0
of
\u00a0
uncertain
\u00a0
tax
\u00a0
positions.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_2": { "value": "
Basis
\u00a0
of
\u00a0
preparation
KONE Corporation
\u00a0
is
\u00a0
a
\u00a0
Finnish,
public limited company
\u00a0
domiciled
\u00a0
in
Helsinki, Finland
.
KONE Corporation
\u00a0
and
\u00a0
its
\u00a0
subsidiaries
\u00a0
together
\u00a0
form
\u00a0
the
\u00a0
KONE
\u00a0
Group
\u00a0
(\u201cKONE\u201d
\u00a0
or
\u00a0
\u201cthe
\u00a0
Group\u201d).
\u00a0
KONE
\u00a0
is
global
\u00a0
leader
\u00a0
in
\u00a0
the
\u00a0
elevator
\u00a0
and
\u00a0
escalator
\u00a0
industry
\u00a0
with
\u00a0
a
\u00a0
vision
\u00a0
to
\u00a0
make
\u00a0
the
\u00a0
world\u2019s
\u00a0
cities
\u00a0
better
\u00a0
and
\u00a0
more
\u00a0
sustainable
\u00a0
places
\u00a0
to
\u00a0
live.
KONE provides elevators, escalators and automatic building
doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle
.
\u00a0
Through
\u00a0
more
\u00a0
effective
\u00a0
People
\u00a0
Flow\u00ae,
\u00a0
KONE\u2019s
\u00a0
ambition
\u00a0
is
\u00a0
to
\u00a0
make
\u00a0
people's
journeys
\u00a0
safe,
\u00a0
convenient
\u00a0
and
\u00a0
reliable,
\u00a0
in
\u00a0
taller,
\u00a0
smarter
\u00a0
buildings.
KONE operates in more than 60 countries around the world
,
\u00a0
serving
\u00a0
over
\u00a0
550,000
\u00a0
customers.
\u00a0
Headquartered
\u00a0
in
\u00a0
Helsinki,
\u00a0
Finland,
we
\u00a0
have
\u00a0
eight
\u00a0
global
\u00a0
R&D
\u00a0
units
\u00a0
and
\u00a0
10
\u00a0
manufacturing
\u00a0
units
\u00a0
in
\u00a0
seven
\u00a0
countries,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
a
\u00a0
worldwide
\u00a0
network
\u00a0
of
\u00a0
agents
\u00a0
and
\u00a0
authorized
\u00a0
distributors.
The
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
of
KONE Corporation
\u00a0
have
\u00a0
been
\u00a0
prepared
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
International
\u00a0
Financial
\u00a0
Reporting
\u00a0
Standards
\u00a0
(IFRS)
\u00a0
as
\u00a0
adopted
\u00a0
by
\u00a0
the
\u00a0
European
\u00a0
Union,
observing
\u00a0
the
\u00a0
standards
\u00a0
and
\u00a0
interpretations
\u00a0
effective
\u00a0
on
\u00a0
December
\u00a0
31,
\u00a0
2022.
KONE
\u00a0
has
\u00a0
adopted
\u00a0
the
\u00a0
new
\u00a0
standards
\u00a0
and
\u00a0
interpretations
\u00a0
that
\u00a0
took
\u00a0
effect
\u00a0
during
\u00a0
the
\u00a0
accounting
\u00a0
period
\u00a0
and
\u00a0
are
\u00a0
relevant
\u00a0
to
\u00a0
its
\u00a0
operations.
\u00a0
The
\u00a0
IFRS
\u00a0
standards
\u00a0
and
\u00a0
amendments
\u00a0
thereto
\u00a0
that
\u00a0
took
effect
\u00a0
in
\u00a0
2022
\u00a0
did
\u00a0
not
\u00a0
have
\u00a0
a
\u00a0
material
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
result
\u00a0
or
\u00a0
the
\u00a0
financial
\u00a0
position
\u00a0
of
\u00a0
the
\u00a0
Group
\u00a0
or
\u00a0
on
\u00a0
the
\u00a0
presentation
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
statements.
The
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
have
\u00a0
been
\u00a0
prepared
\u00a0
for
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
of
\u00a0
12
\u00a0
months
\u00a0
from
\u00a0
January
\u00a0
1
\u00a0
to
\u00a0
December
\u00a0
31,
\u00a0
2022.
\u00a0
The
\u00a0
financial
\u00a0
statements
\u00a0
have
\u00a0
been
\u00a0
authorized
\u00a0
for
\u00a0
issue
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
KONE Corporation
\u00a0
on
\u00a0
January
\u00a0
26,
\u00a0
2023.
\u00a0
According
\u00a0
to
\u00a0
the
\u00a0
Finnish
\u00a0
Companies\u2019
\u00a0
Act
\u00a0
the
\u00a0
Annual
\u00a0
General
\u00a0
Meeting
\u00a0
has
\u00a0
the
\u00a0
right
\u00a0
to
\u00a0
approve,
\u00a0
reject
\u00a0
or
\u00a0
make
\u00a0
changes
\u00a0
to
\u00a0
the
financial
\u00a0
statements
\u00a0
after
\u00a0
the
\u00a0
publication.
The
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
millions
\u00a0
of
\u00a0
euros
\u00a0
and
\u00a0
prepared
\u00a0
under
\u00a0
the
\u00a0
historical
\u00a0
cost
\u00a0
convention
\u00a0
except
\u00a0
as
\u00a0
disclosed
\u00a0
in
\u00a0
the
\u00a0
accounting
\u00a0
principles.
\u00a0
Further,
\u00a0
trade
\u00a0
date
accounting
\u00a0
has
\u00a0
been
\u00a0
applied
\u00a0
to
\u00a0
all
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities.
\u00a0
Amounts
\u00a0
presented
\u00a0
in
\u00a0
these
\u00a0
financial
\u00a0
statements
\u00a0
have
\u00a0
been
\u00a0
rounded
\u00a0
from
\u00a0
exact
\u00a0
values
\u00a0
and
\u00a0
therefore
\u00a0
the
\u00a0
sum
\u00a0
of
\u00a0
amounts
presented
\u00a0
individually
\u00a0
can
\u00a0
deviate
\u00a0
from
\u00a0
the
\u00a0
presented
\u00a0
sum
\u00a0
amount
\u00a0
calculated
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
exact
\u00a0
values.
\u00a0
Key
\u00a0
figures
\u00a0
have
\u00a0
been
\u00a0
calculated
\u00a0
using
\u00a0
exact
\u00a0
values.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_88": { "value": "KONE Corporation", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_65": { "value": "public limited company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_66": { "value": "Helsinki, Finland", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_67": { "value": "Finland", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_68": { "value": "KONE Corporation", "dimensions": { "concept": "ifrs-full:ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_69": { "value": "KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_70": { "value": "KONE operates in more than 60 countries around the world", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_87": { "value": "
The
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
of
KONE Corporation
\u00a0
have
\u00a0
been
\u00a0
prepared
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
International
\u00a0
Financial
\u00a0
Reporting
\u00a0
Standards
\u00a0
(IFRS)
\u00a0
as
\u00a0
adopted
\u00a0
by
\u00a0
the
\u00a0
European
\u00a0
Union,
observing
\u00a0
the
\u00a0
standards
\u00a0
and
\u00a0
interpretations
\u00a0
effective
\u00a0
on
\u00a0
December
\u00a0
31,
\u00a0
2022.
", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_71": { "value": "KONE Corporation", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_72": { "value": "KONE Corporation", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_3": { "value": "
CONSOLIDATION
\u00a0
PRINCIPLES
The
\u00a0
consolidated
\u00a0
accounts
\u00a0
include
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
and
\u00a0
those
\u00a0
companies
\u00a0
in
\u00a0
which
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
held,
\u00a0
directly
\u00a0
or
\u00a0
indirectly,
\u00a0
more
\u00a0
than
\u00a0
50
\u00a0
percent
\u00a0
of
\u00a0
the
\u00a0
voting
\u00a0
power
\u00a0
or
\u00a0
had
\u00a0
control
through
\u00a0
management
\u00a0
agreements
\u00a0
with
\u00a0
shareholders
\u00a0
holding
\u00a0
the
\u00a0
majority
\u00a0
of
\u00a0
the
\u00a0
voting
\u00a0
power
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
In
\u00a0
addition
\u00a0
to
\u00a0
these
\u00a0
holdings,
\u00a0
the
\u00a0
consolidated
\u00a0
accounts
\u00a0
include
possible
\u00a0
holdings
\u00a0
that
\u00a0
are
\u00a0
of
\u00a0
a
\u00a0
controlling
\u00a0
-right
\u00a0
nature
\u00a0
(units/companies
\u00a0
established
\u00a0
for
\u00a0
a
\u00a0
specific
\u00a0
reason).
Subsidiaries
\u00a0
acquired
\u00a0
during
\u00a0
the
\u00a0
period
\u00a0
were
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
from
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
acquiring
\u00a0
the
\u00a0
control,
\u00a0
and
\u00a0
divested
\u00a0
subsidiaries
\u00a0
up
\u00a0
to
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
loss
\u00a0
of
\u00a0
control.
The
\u00a0
acquisition
\u00a0
consideration,
\u00a0
including
\u00a0
deferred
\u00a0
and
\u00a0
contingent
\u00a0
consideration,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
identifiable
\u00a0
assets
\u00a0
acquired
\u00a0
and
\u00a0
liabilities
\u00a0
assumed,
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
the
\u00a0
acquisition
\u00a0
date
\u00a0
fair
\u00a0
values.
The
\u00a0
acquisition-related
\u00a0
costs
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
period
\u00a0
in
\u00a0
which
\u00a0
they
\u00a0
are
\u00a0
incurred.
At
\u00a0
the
\u00a0
acquisition
\u00a0
date,
\u00a0
the
\u00a0
non-controlling
\u00a0
interests
\u00a0
are
\u00a0
valued
\u00a0
either
\u00a0
at
\u00a0
the
\u00a0
acquisition
\u00a0
date
\u00a0
fair
\u00a0
values
\u00a0
or
\u00a0
at
\u00a0
non-controlling
\u00a0
interests\u2019
\u00a0
proportionate
\u00a0
share
\u00a0
in
\u00a0
the
\u00a0
recognized
\u00a0
amounts
\u00a0
of
\u00a0
the
identifiable
\u00a0
net
\u00a0
assets.
\u00a0
Consolidated
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
includes
\u00a0
an
\u00a0
allocation
\u00a0
of
\u00a0
net
\u00a0
income
\u00a0
between
\u00a0
the
\u00a0
shareholders
\u00a0
of
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
and
\u00a0
the
\u00a0
non-controlling
\u00a0
interest.
\u00a0
The
\u00a0
allocation
\u00a0
of
\u00a0
the
comprehensive
\u00a0
income
\u00a0
to
\u00a0
the
\u00a0
shareholders
\u00a0
of
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
and
\u00a0
non-controlling
\u00a0
interests
\u00a0
is
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
comprehensive
\u00a0
income.
\u00a0
Non-controlling
\u00a0
interests\u2019
\u00a0
share
\u00a0
of
\u00a0
total
equity
\u00a0
is
\u00a0
presented
\u00a0
separately
\u00a0
under
\u00a0
total
\u00a0
consolidated
\u00a0
equity.
All
\u00a0
inter-corporate
\u00a0
transactions,
\u00a0
receivables,
\u00a0
liabilities
\u00a0
and
\u00a0
unrealized
\u00a0
profits,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
distribution
\u00a0
of
\u00a0
profits
\u00a0
within
\u00a0
the
\u00a0
Group
\u00a0
have
\u00a0
been
\u00a0
eliminated
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements.
Inter
\u00a0
-corporate
\u00a0
shareholdings
\u00a0
have
\u00a0
been
\u00a0
eliminated
\u00a0
using
\u00a0
the
\u00a0
acquisition
\u00a0
method.
The
\u00a0
results
\u00a0
and
\u00a0
financial
\u00a0
position
\u00a0
of
\u00a0
foreign
\u00a0
operations
\u00a0
that
\u00a0
have
\u00a0
a
\u00a0
functional
\u00a0
currency
\u00a0
different
\u00a0
from
\u00a0
the
\u00a0
presentation
\u00a0
currency
\u00a0
of
\u00a0
the
\u00a0
Group,
\u00a0
have
\u00a0
been
\u00a0
translated
\u00a0
into
\u00a0
the
\u00a0
presentation
\u00a0
currency
as
\u00a0
follows:
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
at
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
date
\u00a0
closing
\u00a0
rate,
\u00a0
and
\u00a0
income
\u00a0
and
\u00a0
expenses
\u00a0
at
\u00a0
average
\u00a0
exchange
\u00a0
rates
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
The
\u00a0
resulting
\u00a0
exchange
\u00a0
rate
differences
\u00a0
have
\u00a0
been
\u00a0
recognized
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_4": { "value": "
SEGMENT
\u00a0
REPORTING
The
\u00a0
profitability
\u00a0
of
\u00a0
KONE
\u00a0
is
\u00a0
presented
\u00a0
as
\u00a0
a
\u00a0
single
\u00a0
entity.
\u00a0
KONE\u2019s
\u00a0
business
\u00a0
concept
\u00a0
is
\u00a0
to
\u00a0
serve
\u00a0
its
\u00a0
customers
\u00a0
by
\u00a0
providing
\u00a0
solutions
\u00a0
throughout
\u00a0
the
\u00a0
entire
\u00a0
life
\u00a0
cycle
\u00a0
of
\u00a0
the
\u00a0
equipment,
\u00a0
beginning
\u00a0
from
the
\u00a0
installation
\u00a0
of
\u00a0
new
\u00a0
equipment
\u00a0
to
\u00a0
the
\u00a0
maintenance
\u00a0
and
\u00a0
modernization
\u00a0
during
\u00a0
their
\u00a0
life
\u00a0
cycle
\u00a0
and
\u00a0
the
\u00a0
full
\u00a0
replacement
\u00a0
of
\u00a0
the
\u00a0
equipment.
\u00a0
Most
\u00a0
of
\u00a0
the
\u00a0
equipment
\u00a0
that
\u00a0
are
\u00a0
delivered
\u00a0
are
\u00a0
converted
\u00a0
into
long
\u00a0
-term
\u00a0
KONE
\u00a0
maintenance
\u00a0
contracts.
\u00a0
KONE\u2019s
\u00a0
operating
\u00a0
business
\u00a0
structure
\u00a0
is
\u00a0
globally
\u00a0
harmonized
\u00a0
based
\u00a0
on
\u00a0
defined
\u00a0
business
\u00a0
processes.
\u00a0
Material
\u00a0
operative
\u00a0
decisions
\u00a0
are
\u00a0
made
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
Directors
\u00a0
of
\u00a0
KONE.
\u00a0
Such
\u00a0
decisions
\u00a0
are
\u00a0
prepared
\u00a0
and
\u00a0
presented
\u00a0
by
\u00a0
the
\u00a0
Chairman
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
and
\u00a0
the
\u00a0
President
\u00a0
and
\u00a0
Chief
\u00a0
Executive
\u00a0
Officer.
\u00a0
Due
\u00a0
to
\u00a0
the
\u00a0
business
\u00a0
model
\u00a0
of
\u00a0
KONE,
\u00a0
the
\u00a0
nature
\u00a0
of
\u00a0
its
operations
\u00a0
and
\u00a0
its
\u00a0
governance
\u00a0
structure,
\u00a0
the
\u00a0
Group
\u00a0
as
\u00a0
a
\u00a0
whole
\u00a0
is
\u00a0
considered
\u00a0
the
\u00a0
relevant
\u00a0
operating
\u00a0
segment
\u00a0
to
\u00a0
be
\u00a0
reported.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_5": { "value": "
ACCOUNTING
\u00a0
ESTIMATES
\u00a0
AND
\u00a0
MANAGEMENT
\u00a0
JUDGEMENTS
The
\u00a0
preparation
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
statements
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
IFRS
\u00a0
requires
\u00a0
management
\u00a0
to
\u00a0
make
\u00a0
judgements,
\u00a0
estimates
\u00a0
and
\u00a0
assumptions
\u00a0
that
\u00a0
affect
\u00a0
the
\u00a0
measurement
\u00a0
of
\u00a0
the
\u00a0
reported
\u00a0
assets
and
\u00a0
liabilities
\u00a0
and
\u00a0
other
\u00a0
information,
\u00a0
such
\u00a0
as
\u00a0
contingent
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
and
\u00a0
the
\u00a0
recognition
\u00a0
of
\u00a0
income
\u00a0
and
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
Although
\u00a0
these
\u00a0
estimates
\u00a0
and
assumptions
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
management\u2019s
\u00a0
best
\u00a0
knowledge
\u00a0
of
\u00a0
current
\u00a0
events,
\u00a0
actual
\u00a0
results
\u00a0
may
\u00a0
differ
\u00a0
from
\u00a0
the
\u00a0
estimates.
For
\u00a0
KONE
\u00a0
the
\u00a0
most
\u00a0
significant
\u00a0
judgements,
\u00a0
estimates
\u00a0
and
\u00a0
assumptions
\u00a0
made
\u00a0
by
\u00a0
the
\u00a0
management
\u00a0
relate
\u00a0
to
\u00a0
revenue
\u00a0
recognition,
\u00a0
especially
\u00a0
to
\u00a0
defining
\u00a0
and
\u00a0
determining
\u00a0
principles
\u00a0
for
\u00a0
revenue
recognition
\u00a0
in
\u00a0
project
\u00a0
business,
\u00a0
to
\u00a0
project
\u00a0
estimates
\u00a0
for
\u00a0
long-term
\u00a0
major
\u00a0
projects,
\u00a0
assumptions
\u00a0
used
\u00a0
in
\u00a0
impairment
\u00a0
testing,
\u00a0
valuation
\u00a0
of
\u00a0
accounts
\u00a0
receivables
\u00a0
and
\u00a0
inventories,
\u00a0
determining
\u00a0
the
\u00a0
lease
term
\u00a0
applied
\u00a0
in
\u00a0
the
\u00a0
lease
\u00a0
accounting
\u00a0
and
\u00a0
recognition
\u00a0
of
\u00a0
provisions
\u00a0
and
\u00a0
evaluation
\u00a0
of
\u00a0
uncertain
\u00a0
tax
\u00a0
positions.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_41": { "value": "
2.1
\u00a0
SALES
Due
\u00a0
to
\u00a0
KONE\u2019s
\u00a0
business
\u00a0
model,
\u00a0
the
\u00a0
nature
\u00a0
of
\u00a0
its
\u00a0
operations
\u00a0
and
\u00a0
its
\u00a0
governance
\u00a0
structure,
\u00a0
KONE
\u00a0
has
\u00a0
one
\u00a0
operating
\u00a0
segment.
Sales
\u00a0
by
\u00a0
customer
\u00a0
KONE\u2019s
\u00a0
customer
\u00a0
base
\u00a0
consists
\u00a0
of
\u00a0
a
\u00a0
large
\u00a0
number
\u00a0
of
\u00a0
customers
\u00a0
in
\u00a0
several
\u00a0
market
\u00a0
areas
\u00a0
with
\u00a0
no
\u00a0
significant
\u00a0
customer
\u00a0
concentration.
\u00a0
In
\u00a0
2022
\u00a0
the
\u00a0
single
\u00a0
biggest
\u00a0
customer,
\u00a0
residing
\u00a0
in
\u00a0
China,
generated
\u00a0
0.9%
\u00a0
of
\u00a0
total
\u00a0
revenue.
Accounting
\u00a0
principles
Revenue
\u00a0
recognition
Revenue
\u00a0
from
\u00a0
contracts
\u00a0
with
\u00a0
KONE\u2019s
\u00a0
customers
\u00a0
is
\u00a0
recognized
\u00a0
at
\u00a0
an
\u00a0
amount
\u00a0
that
\u00a0
reflects
\u00a0
the
\u00a0
consideration
\u00a0
to
\u00a0
which
\u00a0
KONE
\u00a0
expects
\u00a0
to
\u00a0
be
\u00a0
entitled
\u00a0
to
\u00a0
in
\u00a0
exchange
\u00a0
for
\u00a0
delivering
\u00a0
promised
\u00a0
goods
\u00a0
or
services
\u00a0
to
\u00a0
a
\u00a0
customer.
KONE
\u00a0
recognizes
\u00a0
revenue
\u00a0
when
\u00a0
or
\u00a0
as
\u00a0
it
\u00a0
satisfies
\u00a0
a
\u00a0
performance
\u00a0
obligation
\u00a0
by
\u00a0
transferring
\u00a0
control
\u00a0
on
\u00a0
the
\u00a0
promised
\u00a0
goods
\u00a0
or
\u00a0
services
\u00a0
(performance
\u00a0
obligation)
\u00a0
to
\u00a0
a
\u00a0
customer.
A
\u00a0
performance
\u00a0
obligation
\u00a0
is
\u00a0
a
\u00a0
distinct
\u00a0
good
\u00a0
or
\u00a0
service
\u00a0
within
\u00a0
a
\u00a0
contract
\u00a0
that
\u00a0
a
\u00a0
customer
\u00a0
can
\u00a0
benefit
\u00a0
from
\u00a0
on
\u00a0
a
\u00a0
stand-alone
\u00a0
basis.
\u00a0
For
\u00a0
KONE\u2019s
\u00a0
new
\u00a0
equipment
\u00a0
and
\u00a0
modernization
\u00a0
contracts,
\u00a0
a
performance
\u00a0
obligation
\u00a0
typically
\u00a0
means
\u00a0
delivery
\u00a0
and
\u00a0
installation
\u00a0
of
\u00a0
a
\u00a0
single
\u00a0
unit,
\u00a0
i.e.
\u00a0
an
\u00a0
elevator,
\u00a0
an
\u00a0
escalator
\u00a0
or
\u00a0
other
\u00a0
People
\u00a0
Flow\u2122
\u00a0
solution.
\u00a0
For
\u00a0
KONE\u2019s
\u00a0
maintenance
\u00a0
contracts,
\u00a0
maintenance
\u00a0
of
\u00a0
a
single
\u00a0
unit
\u00a0
is
\u00a0
considered
\u00a0
as
\u00a0
a
\u00a0
distinct
\u00a0
performance
\u00a0
obligation
\u00a0
and
\u00a0
for
\u00a0
repairs
\u00a0
business,
\u00a0
typically
\u00a0
a
\u00a0
service
\u00a0
order
\u00a0
is
\u00a0
a
\u00a0
performance
\u00a0
obligation
\u00a0
for
\u00a0
KONE.
In
\u00a0
new
\u00a0
equipment
\u00a0
and
\u00a0
modernization
\u00a0
contracts,
\u00a0
KONE
\u00a0
transfers
\u00a0
the
\u00a0
control
\u00a0
of
\u00a0
a
\u00a0
single
\u00a0
unit
\u00a0
to
\u00a0
a
\u00a0
customer
\u00a0
over
\u00a0
time
\u00a0
and,
\u00a0
therefore,
\u00a0
satisfies
\u00a0
the
\u00a0
performance
\u00a0
obligation
\u00a0
and
\u00a0
recognizes
\u00a0
revenue
over
\u00a0
time.
The
\u00a0
transfer
\u00a0
of
\u00a0
control
\u00a0
is
\u00a0
initiated
\u00a0
when
\u00a0
ordered
\u00a0
equipment
\u00a0
is
\u00a0
delivered
\u00a0
to
\u00a0
a
\u00a0
customer
\u00a0
site
\u00a0
as
\u00a0
then
\u00a0
the
\u00a0
customer
\u00a0
has
\u00a0
the
\u00a0
ability
\u00a0
to
\u00a0
direct
\u00a0
the
\u00a0
use
\u00a0
of,
\u00a0
and
\u00a0
obtain
\u00a0
substantially
\u00a0
all
\u00a0
of
\u00a0
the
\u00a0
remaining
benefits
\u00a0
from,
\u00a0
a
\u00a0
unit
\u00a0
constructed
\u00a0
by
\u00a0
KONE.
\u00a0
Upon
\u00a0
this
\u00a0
milestone
\u00a0
and
\u00a0
onwards
\u00a0
up
\u00a0
to
\u00a0
the
\u00a0
project
\u00a0
handover,
\u00a0
revenue
\u00a0
is
\u00a0
recognized
\u00a0
under
\u00a0
the
\u00a0
percentage
\u00a0
of
\u00a0
completion
\u00a0
method
\u00a0
using
\u00a0
a
\u00a0
cost-to-cost
input
\u00a0
method.
\u00a0
Based
\u00a0
on
\u00a0
KONE\u2019s
\u00a0
assessment
\u00a0
it
\u00a0
best
\u00a0
depicts
\u00a0
the
\u00a0
transfer
\u00a0
of
\u00a0
control
\u00a0
on
\u00a0
the
\u00a0
deliverable
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
Percentage
\u00a0
of
\u00a0
completion
\u00a0
is
\u00a0
defined
\u00a0
as
\u00a0
the
\u00a0
proportion
\u00a0
of
\u00a0
an
\u00a0
individual
performance
\u00a0
obligation\u2019s
\u00a0
cost
\u00a0
incurred
\u00a0
to
\u00a0
date
\u00a0
from
\u00a0
the
\u00a0
total
\u00a0
estimated
\u00a0
costs
\u00a0
for
\u00a0
that
\u00a0
particular
\u00a0
performance
\u00a0
obligation.
The
\u00a0
percentage
\u00a0
of
\u00a0
completion
\u00a0
method
\u00a0
requires
\u00a0
accurate
\u00a0
estimates
\u00a0
of
\u00a0
future
\u00a0
revenues
\u00a0
and
\u00a0
costs
\u00a0
over
\u00a0
the
\u00a0
full
\u00a0
term
\u00a0
of
\u00a0
the
\u00a0
contracts.
\u00a0
These
\u00a0
significant
\u00a0
estimates
\u00a0
form
\u00a0
the
\u00a0
basis
\u00a0
for
\u00a0
the
\u00a0
amount
\u00a0
of
revenue
\u00a0
to
\u00a0
be
\u00a0
recognized
\u00a0
and
\u00a0
include
\u00a0
the
\u00a0
latest
\u00a0
updated
\u00a0
estimate
\u00a0
of
\u00a0
total
\u00a0
revenue
\u00a0
and
\u00a0
costs,
\u00a0
adjusted
\u00a0
with
\u00a0
risks
\u00a0
based
\u00a0
on
\u00a0
historical
\u00a0
experience
\u00a0
on
\u00a0
typical
\u00a0
estimation
\u00a0
revisions
\u00a0
for
\u00a0
similar
\u00a0
types
\u00a0
of
contracts.
\u00a0
These
\u00a0
estimates
\u00a0
may
\u00a0
materially
\u00a0
change
\u00a0
due
\u00a0
to
\u00a0
the
\u00a0
stage
\u00a0
of
\u00a0
completion
\u00a0
of
\u00a0
the
\u00a0
contract,
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
contract
\u00a0
scope,
\u00a0
cost
\u00a0
estimates
\u00a0
and
\u00a0
customer\u2019s
\u00a0
plans
\u00a0
and
\u00a0
other
\u00a0
factors.
\u00a0
Revenues
from
\u00a0
the
\u00a0
rendering
\u00a0
of
\u00a0
maintenance
\u00a0
services
\u00a0
and
\u00a0
repairs
\u00a0
are
\u00a0
recognized
\u00a0
when
\u00a0
the
\u00a0
services
\u00a0
have
\u00a0
been
\u00a0
rendered
\u00a0
or
\u00a0
over
\u00a0
the
\u00a0
contract
\u00a0
term
\u00a0
when
\u00a0
the
\u00a0
work
\u00a0
is
\u00a0
being
\u00a0
carried
\u00a0
out.
For
\u00a0
maintenance
\u00a0
contracts
\u00a0
the
\u00a0
performance
\u00a0
obligation
\u00a0
is
\u00a0
satisfied
\u00a0
over
\u00a0
time
\u00a0
because
\u00a0
the
\u00a0
customer
\u00a0
simultaneously
\u00a0
receives
\u00a0
and
\u00a0
consumes
\u00a0
the
\u00a0
benefits
\u00a0
provided
\u00a0
as
\u00a0
KONE
\u00a0
performs
\u00a0
the
\u00a0
services.
Most
\u00a0
of
\u00a0
KONE\u2019s
\u00a0
revenue
\u00a0
is
\u00a0
derived
\u00a0
from
\u00a0
fixed-price
\u00a0
contracts
\u00a0
and,
\u00a0
therefore,
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
revenue
\u00a0
to
\u00a0
be
\u00a0
earned
\u00a0
from
\u00a0
each
\u00a0
contract
\u00a0
is
\u00a0
determined
\u00a0
by
\u00a0
reference
\u00a0
to
\u00a0
those
\u00a0
fixed
\u00a0
prices.
\u00a0
KONE\u2019s
customer
\u00a0
contracts
\u00a0
do
\u00a0
not
\u00a0
typically
\u00a0
contain
\u00a0
any
\u00a0
significant
\u00a0
financing
\u00a0
components.
\u00a0
In
\u00a0
new
\u00a0
equipment
\u00a0
and
\u00a0
modernization
\u00a0
contracts
\u00a0
payment
\u00a0
terms
\u00a0
are
\u00a0
typically
\u00a0
based
\u00a0
on
\u00a0
either
\u00a0
specific
\u00a0
contractual
milestones
\u00a0
or
\u00a0
progress
\u00a0
of
\u00a0
work
\u00a0
perfor
\u00a0
med.
\u00a0
In
\u00a0
maintenance
\u00a0
contracts
\u00a0
customers
\u00a0
generally
\u00a0
pay
\u00a0
based
\u00a0
on
\u00a0
fixed
\u00a0
payment
\u00a0
schedules.
When
\u00a0
customer
\u00a0
contracts
\u00a0
contain
\u00a0
multiple
\u00a0
performance
\u00a0
obligations,
\u00a0
the
\u00a0
transaction
\u00a0
price
\u00a0
is
\u00a0
allocated
\u00a0
to
\u00a0
each
\u00a0
performance
\u00a0
obli
\u00a0
gation
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
standalone
\u00a0
selling
\u00a0
prices.
\u00a0
Where
\u00a0
these
\u00a0
are
\u00a0
not
directly
\u00a0
observable,
\u00a0
they
\u00a0
are
\u00a0
estimated
\u00a0
based
\u00a0
on
\u00a0
estimated
\u00a0
costs
\u00a0
plus
\u00a0
margin
\u00a0
approach.
Sales
\u00a0
by
\u00a0
business
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
2022
%
Jan
\u00a0
1\u2013Dec
\u00a0
31,
2021
%
New
\u00a0
equipment
5,399.3
50
5,637.7
54
Services
5,507.4
50
4,876.4
46
Maintenance
3,890.4
36
3,450.6
33
Modernization
1,616.9
15
1,425.9
14
Total
10,906.7
10,514.1
Sales
\u00a0
by
\u00a0
geographical
\u00a0
area
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
2022
%
Jan
\u00a0
1\u2013Dec
\u00a0
31,
2021
%
EMEA
\u00a0
\u00b9
\u207e
4,237.7
39
4,036.9
38
Americas
2,239.8
21
1,902.9
18
Asia
\u00a0
-Pacific
4,429.2
41
4,574.3
44
Total
10,906.7
10,514.1
\u00b9
\u207e
\u00a0
EMEA
\u00a0
=
\u00a0
Europe,
\u00a0
Middle
\u00a0
East,
\u00a0
Africa
Top
\u00a0
10
\u00a0
countries
\u00a0
by
\u00a0
sales,
\u00a0
%
.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_6": { "value": "
Accounting
\u00a0
principles
Revenue
\u00a0
recognition
Revenue
\u00a0
from
\u00a0
contracts
\u00a0
with
\u00a0
KONE\u2019s
\u00a0
customers
\u00a0
is
\u00a0
recognized
\u00a0
at
\u00a0
an
\u00a0
amount
\u00a0
that
\u00a0
reflects
\u00a0
the
\u00a0
consideration
\u00a0
to
\u00a0
which
\u00a0
KONE
\u00a0
expects
\u00a0
to
\u00a0
be
\u00a0
entitled
\u00a0
to
\u00a0
in
\u00a0
exchange
\u00a0
for
\u00a0
delivering
\u00a0
promised
\u00a0
goods
\u00a0
or
services
\u00a0
to
\u00a0
a
\u00a0
customer.
KONE
\u00a0
recognizes
\u00a0
revenue
\u00a0
when
\u00a0
or
\u00a0
as
\u00a0
it
\u00a0
satisfies
\u00a0
a
\u00a0
performance
\u00a0
obligation
\u00a0
by
\u00a0
transferring
\u00a0
control
\u00a0
on
\u00a0
the
\u00a0
promised
\u00a0
goods
\u00a0
or
\u00a0
services
\u00a0
(performance
\u00a0
obligation)
\u00a0
to
\u00a0
a
\u00a0
customer.
A
\u00a0
performance
\u00a0
obligation
\u00a0
is
\u00a0
a
\u00a0
distinct
\u00a0
good
\u00a0
or
\u00a0
service
\u00a0
within
\u00a0
a
\u00a0
contract
\u00a0
that
\u00a0
a
\u00a0
customer
\u00a0
can
\u00a0
benefit
\u00a0
from
\u00a0
on
\u00a0
a
\u00a0
stand-alone
\u00a0
basis.
\u00a0
For
\u00a0
KONE\u2019s
\u00a0
new
\u00a0
equipment
\u00a0
and
\u00a0
modernization
\u00a0
contracts,
\u00a0
a
performance
\u00a0
obligation
\u00a0
typically
\u00a0
means
\u00a0
delivery
\u00a0
and
\u00a0
installation
\u00a0
of
\u00a0
a
\u00a0
single
\u00a0
unit,
\u00a0
i.e.
\u00a0
an
\u00a0
elevator,
\u00a0
an
\u00a0
escalator
\u00a0
or
\u00a0
other
\u00a0
People
\u00a0
Flow\u2122
\u00a0
solution.
\u00a0
For
\u00a0
KONE\u2019s
\u00a0
maintenance
\u00a0
contracts,
\u00a0
maintenance
\u00a0
of
\u00a0
a
single
\u00a0
unit
\u00a0
is
\u00a0
considered
\u00a0
as
\u00a0
a
\u00a0
distinct
\u00a0
performance
\u00a0
obligation
\u00a0
and
\u00a0
for
\u00a0
repairs
\u00a0
business,
\u00a0
typically
\u00a0
a
\u00a0
service
\u00a0
order
\u00a0
is
\u00a0
a
\u00a0
performance
\u00a0
obligation
\u00a0
for
\u00a0
KONE.
In
\u00a0
new
\u00a0
equipment
\u00a0
and
\u00a0
modernization
\u00a0
contracts,
\u00a0
KONE
\u00a0
transfers
\u00a0
the
\u00a0
control
\u00a0
of
\u00a0
a
\u00a0
single
\u00a0
unit
\u00a0
to
\u00a0
a
\u00a0
customer
\u00a0
over
\u00a0
time
\u00a0
and,
\u00a0
therefore,
\u00a0
satisfies
\u00a0
the
\u00a0
performance
\u00a0
obligation
\u00a0
and
\u00a0
recognizes
\u00a0
revenue
over
\u00a0
time.
The
\u00a0
transfer
\u00a0
of
\u00a0
control
\u00a0
is
\u00a0
initiated
\u00a0
when
\u00a0
ordered
\u00a0
equipment
\u00a0
is
\u00a0
delivered
\u00a0
to
\u00a0
a
\u00a0
customer
\u00a0
site
\u00a0
as
\u00a0
then
\u00a0
the
\u00a0
customer
\u00a0
has
\u00a0
the
\u00a0
ability
\u00a0
to
\u00a0
direct
\u00a0
the
\u00a0
use
\u00a0
of,
\u00a0
and
\u00a0
obtain
\u00a0
substantially
\u00a0
all
\u00a0
of
\u00a0
the
\u00a0
remaining
benefits
\u00a0
from,
\u00a0
a
\u00a0
unit
\u00a0
constructed
\u00a0
by
\u00a0
KONE.
\u00a0
Upon
\u00a0
this
\u00a0
milestone
\u00a0
and
\u00a0
onwards
\u00a0
up
\u00a0
to
\u00a0
the
\u00a0
project
\u00a0
handover,
\u00a0
revenue
\u00a0
is
\u00a0
recognized
\u00a0
under
\u00a0
the
\u00a0
percentage
\u00a0
of
\u00a0
completion
\u00a0
method
\u00a0
using
\u00a0
a
\u00a0
cost-to-cost
input
\u00a0
method.
\u00a0
Based
\u00a0
on
\u00a0
KONE\u2019s
\u00a0
assessment
\u00a0
it
\u00a0
best
\u00a0
depicts
\u00a0
the
\u00a0
transfer
\u00a0
of
\u00a0
control
\u00a0
on
\u00a0
the
\u00a0
deliverable
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
Percentage
\u00a0
of
\u00a0
completion
\u00a0
is
\u00a0
defined
\u00a0
as
\u00a0
the
\u00a0
proportion
\u00a0
of
\u00a0
an
\u00a0
individual
performance
\u00a0
obligation\u2019s
\u00a0
cost
\u00a0
incurred
\u00a0
to
\u00a0
date
\u00a0
from
\u00a0
the
\u00a0
total
\u00a0
estimated
\u00a0
costs
\u00a0
for
\u00a0
that
\u00a0
particular
\u00a0
performance
\u00a0
obligation.
The
\u00a0
percentage
\u00a0
of
\u00a0
completion
\u00a0
method
\u00a0
requires
\u00a0
accurate
\u00a0
estimates
\u00a0
of
\u00a0
future
\u00a0
revenues
\u00a0
and
\u00a0
costs
\u00a0
over
\u00a0
the
\u00a0
full
\u00a0
term
\u00a0
of
\u00a0
the
\u00a0
contracts.
\u00a0
These
\u00a0
significant
\u00a0
estimates
\u00a0
form
\u00a0
the
\u00a0
basis
\u00a0
for
\u00a0
the
\u00a0
amount
\u00a0
of
revenue
\u00a0
to
\u00a0
be
\u00a0
recognized
\u00a0
and
\u00a0
include
\u00a0
the
\u00a0
latest
\u00a0
updated
\u00a0
estimate
\u00a0
of
\u00a0
total
\u00a0
revenue
\u00a0
and
\u00a0
costs,
\u00a0
adjusted
\u00a0
with
\u00a0
risks
\u00a0
based
\u00a0
on
\u00a0
historical
\u00a0
experience
\u00a0
on
\u00a0
typical
\u00a0
estimation
\u00a0
revisions
\u00a0
for
\u00a0
similar
\u00a0
types
\u00a0
of
contracts.
\u00a0
These
\u00a0
estimates
\u00a0
may
\u00a0
materially
\u00a0
change
\u00a0
due
\u00a0
to
\u00a0
the
\u00a0
stage
\u00a0
of
\u00a0
completion
\u00a0
of
\u00a0
the
\u00a0
contract,
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
contract
\u00a0
scope,
\u00a0
cost
\u00a0
estimates
\u00a0
and
\u00a0
customer\u2019s
\u00a0
plans
\u00a0
and
\u00a0
other
\u00a0
factors.
\u00a0
Revenues
from
\u00a0
the
\u00a0
rendering
\u00a0
of
\u00a0
maintenance
\u00a0
services
\u00a0
and
\u00a0
repairs
\u00a0
are
\u00a0
recognized
\u00a0
when
\u00a0
the
\u00a0
services
\u00a0
have
\u00a0
been
\u00a0
rendered
\u00a0
or
\u00a0
over
\u00a0
the
\u00a0
contract
\u00a0
term
\u00a0
when
\u00a0
the
\u00a0
work
\u00a0
is
\u00a0
being
\u00a0
carried
\u00a0
out.
For
\u00a0
maintenance
\u00a0
contracts
\u00a0
the
\u00a0
performance
\u00a0
obligation
\u00a0
is
\u00a0
satisfied
\u00a0
over
\u00a0
time
\u00a0
because
\u00a0
the
\u00a0
customer
\u00a0
simultaneously
\u00a0
receives
\u00a0
and
\u00a0
consumes
\u00a0
the
\u00a0
benefits
\u00a0
provided
\u00a0
as
\u00a0
KONE
\u00a0
performs
\u00a0
the
\u00a0
services.
Most
\u00a0
of
\u00a0
KONE\u2019s
\u00a0
revenue
\u00a0
is
\u00a0
derived
\u00a0
from
\u00a0
fixed-price
\u00a0
contracts
\u00a0
and,
\u00a0
therefore,
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
revenue
\u00a0
to
\u00a0
be
\u00a0
earned
\u00a0
from
\u00a0
each
\u00a0
contract
\u00a0
is
\u00a0
determined
\u00a0
by
\u00a0
reference
\u00a0
to
\u00a0
those
\u00a0
fixed
\u00a0
prices.
\u00a0
KONE\u2019s
customer
\u00a0
contracts
\u00a0
do
\u00a0
not
\u00a0
typically
\u00a0
contain
\u00a0
any
\u00a0
significant
\u00a0
financing
\u00a0
components.
\u00a0
In
\u00a0
new
\u00a0
equipment
\u00a0
and
\u00a0
modernization
\u00a0
contracts
\u00a0
payment
\u00a0
terms
\u00a0
are
\u00a0
typically
\u00a0
based
\u00a0
on
\u00a0
either
\u00a0
specific
\u00a0
contractual
milestones
\u00a0
or
\u00a0
progress
\u00a0
of
\u00a0
work
\u00a0
perfor
\u00a0
med.
\u00a0
In
\u00a0
maintenance
\u00a0
contracts
\u00a0
customers
\u00a0
generally
\u00a0
pay
\u00a0
based
\u00a0
on
\u00a0
fixed
\u00a0
payment
\u00a0
schedules.
When
\u00a0
customer
\u00a0
contracts
\u00a0
contain
\u00a0
multiple
\u00a0
performance
\u00a0
obligations,
\u00a0
the
\u00a0
transaction
\u00a0
price
\u00a0
is
\u00a0
allocated
\u00a0
to
\u00a0
each
\u00a0
performance
\u00a0
obli
\u00a0
gation
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
standalone
\u00a0
selling
\u00a0
prices.
\u00a0
Where
\u00a0
these
\u00a0
are
\u00a0
not
directly
\u00a0
observable,
\u00a0
they
\u00a0
are
\u00a0
estimated
\u00a0
based
\u00a0
on
\u00a0
estimated
\u00a0
costs
\u00a0
plus
\u00a0
margin
\u00a0
approach.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_99": { "value": "
Other
\u00a0
income
\u00a0
comprises
\u00a0
of
\u00a0
rental
\u00a0
income,
\u00a0
received
\u00a0
grants,
\u00a0
interest
\u00a0
on
\u00a0
late
\u00a0
payments,
\u00a0
gains
\u00a0
on
\u00a0
sale
\u00a0
of
\u00a0
fixed
\u00a0
assets
\u00a0
and
\u00a0
scrap
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
miscellaneous
\u00a0
income.
\u00b9
\u207e
\u00a0
In
\u00a0
2021,
\u00a0
other
\u00a0
income
\u00a0
includes
\u00a0
EUR
\u00a0
19.9
\u00a0
million
\u00a0
net
\u00a0
gain
\u00a0
from
\u00a0
the
\u00a0
sale
\u00a0
of
\u00a0
Motala
\u00a0
Hissar
\u00a0
AB
\u00a0
and
\u00a0
land
\u00a0
area
\u00a0
and
\u00a0
adjacent
\u00a0
building
\u00a0
in
\u00a0
India.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_43": { "value": "
Accounting
\u00a0
principles
Research
\u00a0
and
\u00a0
development
\u00a0
costs
\u00a0
Research
\u00a0
and
\u00a0
development
\u00a0
costs
\u00a0
are
\u00a0
expensed
\u00a0
as
\u00a0
they
\u00a0
incur,
\u00a0
because
\u00a0
the
\u00a0
future
\u00a0
economic
\u00a0
benefits
\u00a0
of
\u00a0
new
\u00a0
products
\u00a0
and
\u00a0
development
\u00a0
of
\u00a0
existing
\u00a0
products
\u00a0
and
\u00a0
services
\u00a0
can
\u00a0
only
\u00a0
be
\u00a0
proven
\u00a0
after
their
\u00a0
successful
\u00a0
introduction
\u00a0
to
\u00a0
the
\u00a0
market.
Research
\u00a0
and
\u00a0
development
\u00a0
costs,
\u00a0
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
R&D
\u00a0
costs
\u00a0
included
\u00a0
in
\u00a0
total
\u00a0
costs
187.8
188.8
As
\u00a0
percentage
\u00a0
of
\u00a0
sales,
\u00a0
%
1.7
1.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_42": { "value": "
Accounting
\u00a0
principles
Research
\u00a0
and
\u00a0
development
\u00a0
costs
\u00a0
Research
\u00a0
and
\u00a0
development
\u00a0
costs
\u00a0
are
\u00a0
expensed
\u00a0
as
\u00a0
they
\u00a0
incur,
\u00a0
because
\u00a0
the
\u00a0
future
\u00a0
economic
\u00a0
benefits
\u00a0
of
\u00a0
new
\u00a0
products
\u00a0
and
\u00a0
development
\u00a0
of
\u00a0
existing
\u00a0
products
\u00a0
and
\u00a0
services
\u00a0
can
\u00a0
only
\u00a0
be
\u00a0
proven
\u00a0
after
their
\u00a0
successful
\u00a0
introduction
\u00a0
to
\u00a0
the
\u00a0
market.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_46": { "value": "
Costs
\u00a0
and
\u00a0
expenses,
\u00a0
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Direct
\u00a0
materials,
\u00a0
supplies
\u00a0
and
\u00a0
subcontracting
4,458.2
4,297.3
Wages,
\u00a0
salaries,
\u00a0
and
\u00a0
other
\u00a0
employment
\u00a0
expenses
\u00a0
including
\u00a0
pensions
\u00a0
(note
\u00a0
5.7)
3,533.4
3,222.5
Other
\u00a0
production
\u00a0
costs
874.1
789.6
Selling,
\u00a0
administrative
\u00a0
and
\u00a0
other
\u00a0
expenses
750.1
703.3
Items
\u00a0
impacting
\u00a0
comparability
45.4
14.5
Depreciation
\u00a0
and
\u00a0
amortization
\u00a0
(note
\u00a0
2.3)
259.3
244.0
Costs,
\u00a0
expenses,
\u00a0
depreciation
\u00a0
and
\u00a0
amortization
9,920.5
9,271.3
Other
\u00a0
income
\u00a0
\u00b9
\u207e
45.0
52.5
Total
\u00a0
costs,
\u00a0
expenses,
\u00a0
depreciation
\u00a0
and
\u00a0
amortization
9,875.5
9,218.8
\u00b9
\u207e
\u00a0
In
\u00a0
2021,
\u00a0
other
\u00a0
income
\u00a0
includes
\u00a0
EUR
\u00a0
19.9
\u00a0
million
\u00a0
net
\u00a0
gain
\u00a0
from
\u00a0
the
\u00a0
sale
\u00a0
of
\u00a0
Motala
\u00a0
Hissar
\u00a0
AB
\u00a0
and
\u00a0
land
\u00a0
area
\u00a0
and
\u00a0
adjacent
\u00a0
building
\u00a0
in
\u00a0
India.
Expense
\u00a0
arising
\u00a0
from
\u00a0
leases
\u00a0
of
\u00a0
low-value
\u00a0
assets
\u00a0
and
\u00a0
short
\u00a0
-term
\u00a0
leases
\u00a0
amounted
\u00a0
to
\u00a0
EUR
\u00a0
12.6
\u00a0
(11.7)
\u00a0
million
\u00a0
in
\u00a0
2022.
Research
\u00a0
and
\u00a0
development
\u00a0
costs,
\u00a0
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
R&D
\u00a0
costs
\u00a0
included
\u00a0
in
\u00a0
total
\u00a0
costs
187.8
188.8
As
\u00a0
percentage
\u00a0
of
\u00a0
sales,
\u00a0
%
1.7
1.8
Auditors\u00b4
\u00a0
fees,
\u00a0
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
To
\u00a0
member
\u00a0
firms
\u00a0
of
\u00a0
Ernst
\u00a0
&
\u00a0
Young
\u00a0
network
3.8
3.2
Auditors\u00b4
\u00a0
statements
-
-
Tax
\u00a0
services
0.1
0.3
Other
\u00a0
services
0.2
0.1
Total
4.1
3.7
2.2
\u00a0
COSTS
\u00a0
AND
\u00a0
EXPENSES
The
\u00a0
majority
\u00a0
of
\u00a0
expenses
\u00a0
of
\u00a0
operations
\u00a0
arise
\u00a0
from
\u00a0
direct
\u00a0
materials
\u00a0
and
\u00a0
supplies,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
cost
\u00a0
of
\u00a0
subcontracting.
\u00a0
Other
\u00a0
production
\u00a0
costs
\u00a0
comprise
\u00a0
of
\u00a0
logistics,
\u00a0
tools
\u00a0
and
\u00a0
consumables,
\u00a0
operative
\u00a0
car
fleet
\u00a0
and
\u00a0
traveling
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
miscellaneous
\u00a0
items
\u00a0
of
\u00a0
direct
\u00a0
costs.
\u00a0
Selling,
\u00a0
administrative
\u00a0
and
\u00a0
other
\u00a0
expenses
\u00a0
include
\u00a0
costs
\u00a0
related
\u00a0
to
\u00a0
premises,
\u00a0
consulting
\u00a0
and
\u00a0
external
\u00a0
services,
\u00a0
IT
\u00a0
and
traveling
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
miscellaneous
\u00a0
administrative
\u00a0
costs.
In
\u00a0
2022,
\u00a0
items
\u00a0
affecting
\u00a0
comparability
\u00a0
included
\u00a0
charges
\u00a0
for
\u00a0
the
\u00a0
impairment
\u00a0
of
\u00a0
assets
\u00a0
and
\u00a0
recognition
\u00a0
of
\u00a0
provisions
\u00a0
for
\u00a0
commitments
\u00a0
in
\u00a0
Russia
\u00a0
and
\u00a0
Ukraine,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
costs
\u00a0
for
\u00a0
restructuring
measures.
\u00a0
In
\u00a0
the
\u00a0
comparison
\u00a0
periods,
\u00a0
items
\u00a0
affecting
\u00a0
comparability
\u00a0
consisted
\u00a0
of
\u00a0
restructuring
\u00a0
costs.
Other
\u00a0
income
\u00a0
comprises
\u00a0
of
\u00a0
rental
\u00a0
income,
\u00a0
received
\u00a0
grants,
\u00a0
interest
\u00a0
on
\u00a0
late
\u00a0
payments,
\u00a0
gains
\u00a0
on
\u00a0
sale
\u00a0
of
\u00a0
fixed
\u00a0
assets
\u00a0
and
\u00a0
scrap
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
miscellaneous
\u00a0
income.
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_45": { "value": "
Costs
\u00a0
and
\u00a0
expenses,
\u00a0
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Direct
\u00a0
materials,
\u00a0
supplies
\u00a0
and
\u00a0
subcontracting
4,458.2
4,297.3
Wages,
\u00a0
salaries,
\u00a0
and
\u00a0
other
\u00a0
employment
\u00a0
expenses
\u00a0
including
\u00a0
pensions
\u00a0
(note
\u00a0
5.7)
3,533.4
3,222.5
Other
\u00a0
production
\u00a0
costs
874.1
789.6
Selling,
\u00a0
administrative
\u00a0
and
\u00a0
other
\u00a0
expenses
750.1
703.3
Items
\u00a0
impacting
\u00a0
comparability
45.4
14.5
Depreciation
\u00a0
and
\u00a0
amortization
\u00a0
(note
\u00a0
2.3)
259.3
244.0
Costs,
\u00a0
expenses,
\u00a0
depreciation
\u00a0
and
\u00a0
amortization
9,920.5
9,271.3
Other
\u00a0
income
\u00a0
\u00b9
\u207e
45.0
52.5
Total
\u00a0
costs,
\u00a0
expenses,
\u00a0
depreciation
\u00a0
and
\u00a0
amortization
9,875.5
9,218.8
\u00b9
\u207e
\u00a0
In
\u00a0
2021,
\u00a0
other
\u00a0
income
\u00a0
includes
\u00a0
EUR
\u00a0
19.9
\u00a0
million
\u00a0
net
\u00a0
gain
\u00a0
from
\u00a0
the
\u00a0
sale
\u00a0
of
\u00a0
Motala
\u00a0
Hissar
\u00a0
AB
\u00a0
and
\u00a0
land
\u00a0
area
\u00a0
and
\u00a0
adjacent
\u00a0
building
\u00a0
in
\u00a0
India.
Expense
\u00a0
arising
\u00a0
from
\u00a0
leases
\u00a0
of
\u00a0
low-value
\u00a0
assets
\u00a0
and
\u00a0
short
\u00a0
-term
\u00a0
leases
\u00a0
amounted
\u00a0
to
\u00a0
EUR
\u00a0
12.6
\u00a0
(11.7)
\u00a0
million
\u00a0
in
\u00a0
2022.
Research
\u00a0
and
\u00a0
development
\u00a0
costs,
\u00a0
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
R&D
\u00a0
costs
\u00a0
included
\u00a0
in
\u00a0
total
\u00a0
costs
187.8
188.8
As
\u00a0
percentage
\u00a0
of
\u00a0
sales,
\u00a0
%
1.7
1.8
Auditors\u00b4
\u00a0
fees,
\u00a0
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
To
\u00a0
member
\u00a0
firms
\u00a0
of
\u00a0
Ernst
\u00a0
&
\u00a0
Young
\u00a0
network
3.8
3.2
Auditors\u00b4
\u00a0
statements
-
-
Tax
\u00a0
services
0.1
0.3
Other
\u00a0
services
0.2
0.1
Total
4.1
3.7
2.2
\u00a0
COSTS
\u00a0
AND
\u00a0
EXPENSES
The
\u00a0
majority
\u00a0
of
\u00a0
expenses
\u00a0
of
\u00a0
operations
\u00a0
arise
\u00a0
from
\u00a0
direct
\u00a0
materials
\u00a0
and
\u00a0
supplies,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
cost
\u00a0
of
\u00a0
subcontracting.
\u00a0
Other
\u00a0
production
\u00a0
costs
\u00a0
comprise
\u00a0
of
\u00a0
logistics,
\u00a0
tools
\u00a0
and
\u00a0
consumables,
\u00a0
operative
\u00a0
car
fleet
\u00a0
and
\u00a0
traveling
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
miscellaneous
\u00a0
items
\u00a0
of
\u00a0
direct
\u00a0
costs.
\u00a0
Selling,
\u00a0
administrative
\u00a0
and
\u00a0
other
\u00a0
expenses
\u00a0
include
\u00a0
costs
\u00a0
related
\u00a0
to
\u00a0
premises,
\u00a0
consulting
\u00a0
and
\u00a0
external
\u00a0
services,
\u00a0
IT
\u00a0
and
traveling
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
miscellaneous
\u00a0
administrative
\u00a0
costs.
In
\u00a0
2022,
\u00a0
items
\u00a0
affecting
\u00a0
comparability
\u00a0
included
\u00a0
charges
\u00a0
for
\u00a0
the
\u00a0
impairment
\u00a0
of
\u00a0
assets
\u00a0
and
\u00a0
recognition
\u00a0
of
\u00a0
provisions
\u00a0
for
\u00a0
commitments
\u00a0
in
\u00a0
Russia
\u00a0
and
\u00a0
Ukraine,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
costs
\u00a0
for
\u00a0
restructuring
measures.
\u00a0
In
\u00a0
the
\u00a0
comparison
\u00a0
periods,
\u00a0
items
\u00a0
affecting
\u00a0
comparability
\u00a0
consisted
\u00a0
of
\u00a0
restructuring
\u00a0
costs.
Other
\u00a0
income
\u00a0
comprises
\u00a0
of
\u00a0
rental
\u00a0
income,
\u00a0
received
\u00a0
grants,
\u00a0
interest
\u00a0
on
\u00a0
late
\u00a0
payments,
\u00a0
gains
\u00a0
on
\u00a0
sale
\u00a0
of
\u00a0
fixed
\u00a0
assets
\u00a0
and
\u00a0
scrap
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
miscellaneous
\u00a0
income.
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_48": { "value": "
Costs
\u00a0
and
\u00a0
expenses,
\u00a0
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Direct
\u00a0
materials,
\u00a0
supplies
\u00a0
and
\u00a0
subcontracting
4,458.2
4,297.3
Wages,
\u00a0
salaries,
\u00a0
and
\u00a0
other
\u00a0
employment
\u00a0
expenses
\u00a0
including
\u00a0
pensions
\u00a0
(note
\u00a0
5.7)
3,533.4
3,222.5
Other
\u00a0
production
\u00a0
costs
874.1
789.6
Selling,
\u00a0
administrative
\u00a0
and
\u00a0
other
\u00a0
expenses
750.1
703.3
Items
\u00a0
impacting
\u00a0
comparability
45.4
14.5
Depreciation
\u00a0
and
\u00a0
amortization
\u00a0
(note
\u00a0
2.3)
259.3
244.0
Costs,
\u00a0
expenses,
\u00a0
depreciation
\u00a0
and
\u00a0
amortization
9,920.5
9,271.3
Other
\u00a0
income
\u00a0
\u00b9
\u207e
45.0
52.5
Total
\u00a0
costs,
\u00a0
expenses,
\u00a0
depreciation
\u00a0
and
\u00a0
amortization
9,875.5
9,218.8
\u00b9
\u207e
\u00a0
In
\u00a0
2021,
\u00a0
other
\u00a0
income
\u00a0
includes
\u00a0
EUR
\u00a0
19.9
\u00a0
million
\u00a0
net
\u00a0
gain
\u00a0
from
\u00a0
the
\u00a0
sale
\u00a0
of
\u00a0
Motala
\u00a0
Hissar
\u00a0
AB
\u00a0
and
\u00a0
land
\u00a0
area
\u00a0
and
\u00a0
adjacent
\u00a0
building
\u00a0
in
\u00a0
India.
Expense
\u00a0
arising
\u00a0
from
\u00a0
leases
\u00a0
of
\u00a0
low-value
\u00a0
assets
\u00a0
and
\u00a0
short
\u00a0
-term
\u00a0
leases
\u00a0
amounted
\u00a0
to
\u00a0
EUR
\u00a0
12.6
\u00a0
(11.7)
\u00a0
million
\u00a0
in
\u00a0
2022.
2.2
\u00a0
COSTS
\u00a0
AND
\u00a0
EXPENSES
The
\u00a0
majority
\u00a0
of
\u00a0
expenses
\u00a0
of
\u00a0
operations
\u00a0
arise
\u00a0
from
\u00a0
direct
\u00a0
materials
\u00a0
and
\u00a0
supplies,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
cost
\u00a0
of
\u00a0
subcontracting.
\u00a0
Other
\u00a0
production
\u00a0
costs
\u00a0
comprise
\u00a0
of
\u00a0
logistics,
\u00a0
tools
\u00a0
and
\u00a0
consumables,
\u00a0
operative
\u00a0
car
fleet
\u00a0
and
\u00a0
traveling
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
miscellaneous
\u00a0
items
\u00a0
of
\u00a0
direct
\u00a0
costs.
\u00a0
Selling,
\u00a0
administrative
\u00a0
and
\u00a0
other
\u00a0
expenses
\u00a0
include
\u00a0
costs
\u00a0
related
\u00a0
to
\u00a0
premises,
\u00a0
consulting
\u00a0
and
\u00a0
external
\u00a0
services,
\u00a0
IT
\u00a0
and
traveling
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
miscellaneous
\u00a0
administrative
\u00a0
costs.
In
\u00a0
2022,
\u00a0
items
\u00a0
affecting
\u00a0
comparability
\u00a0
included
\u00a0
charges
\u00a0
for
\u00a0
the
\u00a0
impairment
\u00a0
of
\u00a0
assets
\u00a0
and
\u00a0
recognition
\u00a0
of
\u00a0
provisions
\u00a0
for
\u00a0
commitments
\u00a0
in
\u00a0
Russia
\u00a0
and
\u00a0
Ukraine,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
costs
\u00a0
for
\u00a0
restructuring
measures.
\u00a0
In
\u00a0
the
\u00a0
comparison
\u00a0
periods,
\u00a0
items
\u00a0
affecting
\u00a0
comparability
\u00a0
consisted
\u00a0
of
\u00a0
restructuring
\u00a0
costs.
Other
\u00a0
income
\u00a0
comprises
\u00a0
of
\u00a0
rental
\u00a0
income,
\u00a0
received
\u00a0
grants,
\u00a0
interest
\u00a0
on
\u00a0
late
\u00a0
payments,
\u00a0
gains
\u00a0
on
\u00a0
sale
\u00a0
of
\u00a0
fixed
\u00a0
assets
\u00a0
and
\u00a0
scrap
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
miscellaneous
\u00a0
income.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_47": { "value": "
Costs
\u00a0
and
\u00a0
expenses,
\u00a0
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Direct
\u00a0
materials,
\u00a0
supplies
\u00a0
and
\u00a0
subcontracting
4,458.2
4,297.3
Wages,
\u00a0
salaries,
\u00a0
and
\u00a0
other
\u00a0
employment
\u00a0
expenses
\u00a0
including
\u00a0
pensions
\u00a0
(note
\u00a0
5.7)
3,533.4
3,222.5
Other
\u00a0
production
\u00a0
costs
874.1
789.6
Selling,
\u00a0
administrative
\u00a0
and
\u00a0
other
\u00a0
expenses
750.1
703.3
Items
\u00a0
impacting
\u00a0
comparability
45.4
14.5
Depreciation
\u00a0
and
\u00a0
amortization
\u00a0
(note
\u00a0
2.3)
259.3
244.0
Costs,
\u00a0
expenses,
\u00a0
depreciation
\u00a0
and
\u00a0
amortization
9,920.5
9,271.3
Other
\u00a0
income
\u00a0
\u00b9
\u207e
45.0
52.5
Total
\u00a0
costs,
\u00a0
expenses,
\u00a0
depreciation
\u00a0
and
\u00a0
amortization
9,875.5
9,218.8
\u00b9
\u207e
\u00a0
In
\u00a0
2021,
\u00a0
other
\u00a0
income
\u00a0
includes
\u00a0
EUR
\u00a0
19.9
\u00a0
million
\u00a0
net
\u00a0
gain
\u00a0
from
\u00a0
the
\u00a0
sale
\u00a0
of
\u00a0
Motala
\u00a0
Hissar
\u00a0
AB
\u00a0
and
\u00a0
land
\u00a0
area
\u00a0
and
\u00a0
adjacent
\u00a0
building
\u00a0
in
\u00a0
India.
Expense
\u00a0
arising
\u00a0
from
\u00a0
leases
\u00a0
of
\u00a0
low-value
\u00a0
assets
\u00a0
and
\u00a0
short
\u00a0
-term
\u00a0
leases
\u00a0
amounted
\u00a0
to
\u00a0
EUR
\u00a0
12.6
\u00a0
(11.7)
\u00a0
million
\u00a0
in
\u00a0
2022.
2.2
\u00a0
COSTS
\u00a0
AND
\u00a0
EXPENSES
The
\u00a0
majority
\u00a0
of
\u00a0
expenses
\u00a0
of
\u00a0
operations
\u00a0
arise
\u00a0
from
\u00a0
direct
\u00a0
materials
\u00a0
and
\u00a0
supplies,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
cost
\u00a0
of
\u00a0
subcontracting.
\u00a0
Other
\u00a0
production
\u00a0
costs
\u00a0
comprise
\u00a0
of
\u00a0
logistics,
\u00a0
tools
\u00a0
and
\u00a0
consumables,
\u00a0
operative
\u00a0
car
fleet
\u00a0
and
\u00a0
traveling
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
miscellaneous
\u00a0
items
\u00a0
of
\u00a0
direct
\u00a0
costs.
\u00a0
Selling,
\u00a0
administrative
\u00a0
and
\u00a0
other
\u00a0
expenses
\u00a0
include
\u00a0
costs
\u00a0
related
\u00a0
to
\u00a0
premises,
\u00a0
consulting
\u00a0
and
\u00a0
external
\u00a0
services,
\u00a0
IT
\u00a0
and
traveling
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
miscellaneous
\u00a0
administrative
\u00a0
costs.
In
\u00a0
2022,
\u00a0
items
\u00a0
affecting
\u00a0
comparability
\u00a0
included
\u00a0
charges
\u00a0
for
\u00a0
the
\u00a0
impairment
\u00a0
of
\u00a0
assets
\u00a0
and
\u00a0
recognition
\u00a0
of
\u00a0
provisions
\u00a0
for
\u00a0
commitments
\u00a0
in
\u00a0
Russia
\u00a0
and
\u00a0
Ukraine,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
costs
\u00a0
for
\u00a0
restructuring
measures.
\u00a0
In
\u00a0
the
\u00a0
comparison
\u00a0
periods,
\u00a0
items
\u00a0
affecting
\u00a0
comparability
\u00a0
consisted
\u00a0
of
\u00a0
restructuring
\u00a0
costs.
Other
\u00a0
income
\u00a0
comprises
\u00a0
of
\u00a0
rental
\u00a0
income,
\u00a0
received
\u00a0
grants,
\u00a0
interest
\u00a0
on
\u00a0
late
\u00a0
payments,
\u00a0
gains
\u00a0
on
\u00a0
sale
\u00a0
of
\u00a0
fixed
\u00a0
assets
\u00a0
and
\u00a0
scrap
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
miscellaneous
\u00a0
income.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_44": { "value": "
Auditors\u00b4
\u00a0
fees,
\u00a0
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
To
\u00a0
member
\u00a0
firms
\u00a0
of
\u00a0
Ernst
\u00a0
&
\u00a0
Young
\u00a0
network
3.8
3.2
Auditors\u00b4
\u00a0
statements
-
-
Tax
\u00a0
services
0.1
0.3
Other
\u00a0
services
0.2
0.1
Total
4.1
3.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_14": { "value": "
2.3
\u00a0
DEPRECIATION
\u00a0
AND
\u00a0
AMORTIZATION
Accounting
\u00a0
principles
Depreciation
\u00a0
and
\u00a0
amortization
\u00a0
Depreciation
\u00a0
and
\u00a0
amortization
\u00a0
are
\u00a0
recorded
\u00a0
on
\u00a0
a
\u00a0
straight
\u00a0
-line
\u00a0
basis
\u00a0
over
\u00a0
the
\u00a0
economic
\u00a0
useful
\u00a0
lives
\u00a0
of
\u00a0
the
\u00a0
assets,
\u00a0
or
\u00a0
over
\u00a0
the
\u00a0
lease
\u00a0
contract
\u00a0
periods,
\u00a0
when
\u00a0
applicable,
\u00a0
if
\u00a0
shorter.
Economic
\u00a0
useful
\u00a0
lives:
Maintenance
\u00a0
contracts
Other
\u00a0
intangible
\u00a0
assets
Buildings
Machinery
\u00a0
and
\u00a0
equipment
Land
\u00a0
is
\u00a0
not
\u00a0
depreciated.
10-15
\u00a0
years
\u00a0
\u00a0
3-10
\u00a0
years
\u00a0
\u00a0
5-40
\u00a0
years
\u00a0
\u00a0
4-15
\u00a0
years
\u00a0
Depreciation
\u00a0
and
\u00a0
amortization,
\u00a0
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Intangible
\u00a0
assets
Maintenance
\u00a0
contracts
39.5
36.4
Other
10.0
11.3
Buildings
78.8
74.6
Machinery
\u00a0
and
\u00a0
equipment
131.0
121.8
Total
259.3
244.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_13": { "value": "
Accounting
\u00a0
principles
Depreciation
\u00a0
and
\u00a0
amortization
\u00a0
Depreciation
\u00a0
and
\u00a0
amortization
\u00a0
are
\u00a0
recorded
\u00a0
on
\u00a0
a
\u00a0
straight
\u00a0
-line
\u00a0
basis
\u00a0
over
\u00a0
the
\u00a0
economic
\u00a0
useful
\u00a0
lives
\u00a0
of
\u00a0
the
\u00a0
assets,
\u00a0
or
\u00a0
over
\u00a0
the
\u00a0
lease
\u00a0
contract
\u00a0
periods,
\u00a0
when
\u00a0
applicable,
\u00a0
if
\u00a0
shorter.
Economic
\u00a0
useful
\u00a0
lives:
Maintenance
\u00a0
contracts
Other
\u00a0
intangible
\u00a0
assets
Buildings
Machinery
\u00a0
and
\u00a0
equipment
Land
\u00a0
is
\u00a0
not
\u00a0
depreciated.
10-15
\u00a0
years
\u00a0
\u00a0
3-10
\u00a0
years
\u00a0
\u00a0
5-40
\u00a0
years
\u00a0
\u00a0
4-15
\u00a0
years
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_49": { "value": "
2.4
\u00a0
FOREIGN
\u00a0
EXCHANGE
\u00a0
SENSITIVITY
Foreign
\u00a0
exchange
\u00a0
risks
KONE
\u00a0
operates
\u00a0
internationally
\u00a0
and
\u00a0
is
\u00a0
thus
\u00a0
exposed
\u00a0
to
\u00a0
risks
\u00a0
arising
\u00a0
from
\u00a0
fluctuations
\u00a0
in
\u00a0
foreign
\u00a0
exchange
\u00a0
rates
\u00a0
related
\u00a0
to
\u00a0
currency
\u00a0
flows
\u00a0
of
\u00a0
revenues
\u00a0
and
\u00a0
expenses
\u00a0
(transaction
\u00a0
risk)
\u00a0
and
\u00a0
from
\u00a0
the
translation
\u00a0
of
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
and
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
of
\u00a0
the
\u00a0
foreign
\u00a0
subsidiaries
\u00a0
from
\u00a0
respective
\u00a0
functional
\u00a0
currencies
\u00a0
into
\u00a0
euros
\u00a0
(translation
\u00a0
risk).
Transaction
\u00a0
risks
A
\u00a0
substantial
\u00a0
part
\u00a0
of
\u00a0
KONE\u2019s
\u00a0
operations
\u00a0
are
\u00a0
denominated
\u00a0
in
\u00a0
local
\u00a0
functional
\u00a0
currencies
\u00a0
of
\u00a0
the
\u00a0
subsidiaries
\u00a0
and
\u00a0
do
\u00a0
not
\u00a0
therefore
\u00a0
give
\u00a0
rise
\u00a0
to
\u00a0
transaction
\u00a0
risk.
\u00a0
The
\u00a0
sales
\u00a0
of
\u00a0
new
\u00a0
equipment
\u00a0
and
modernizations,
\u00a0
including
\u00a0
installation,
\u00a0
typically
\u00a0
take
\u00a0
place
\u00a0
in
\u00a0
the
\u00a0
local
\u00a0
currency
\u00a0
of
\u00a0
the
\u00a0
customer.
\u00a0
Component
\u00a0
and
\u00a0
material
\u00a0
expenses
\u00a0
may
\u00a0
occur
\u00a0
in
\u00a0
other
\u00a0
currencies
\u00a0
than
\u00a0
the
\u00a0
sales
\u00a0
currency,
\u00a0
which
exposes
\u00a0
KONE
\u00a0
to
\u00a0
transaction
\u00a0
risks.
\u00a0
KONE
\u00a0
policy
\u00a0
is
\u00a0
to
\u00a0
substantially
\u00a0
hedge
\u00a0
the
\u00a0
foreign
\u00a0
exchange
\u00a0
exposure
\u00a0
of
\u00a0
firm
\u00a0
commitments
\u00a0
and
\u00a0
other
\u00a0
highly
\u00a0
probable
\u00a0
future
\u00a0
sales
\u00a0
and
\u00a0
purchases
\u00a0
with
\u00a0
foreign
exchange
\u00a0
forward
\u00a0
contracts.
\u00a0
The
\u00a0
business
\u00a0
units
\u00a0
are
\u00a0
responsible
\u00a0
for
\u00a0
evaluating
\u00a0
and
\u00a0
hedging
\u00a0
the
\u00a0
transaction
\u00a0
risks
\u00a0
in
\u00a0
their
\u00a0
operations
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
KONE
\u00a0
treasury
\u00a0
policy.
\u00a0
The
\u00a0
most
\u00a0
significant
transaction
\u00a0
risk
\u00a0
exposures
\u00a0
arising
\u00a0
from
\u00a0
business
\u00a0
operations
\u00a0
are
\u00a0
in
\u00a0
the
\u00a0
Chinese
\u00a0
yuan,
\u00a0
Canadian
\u00a0
dollar,
\u00a0
Saudi-Arabian
\u00a0
rial,
\u00a0
Australian
\u00a0
dollar
\u00a0
and
\u00a0
British
\u00a0
pound.
\u00a0
The
\u00a0
majority
\u00a0
of
\u00a0
the
\u00a0
currency
\u00a0
forward
contracts
\u00a0
expire
\u00a0
within
\u00a0
one
\u00a0
year.
Hedge
\u00a0
accounting
\u00a0
is
\u00a0
applied
\u00a0
in
\u00a0
business
\u00a0
units,
\u00a0
where
\u00a0
there
\u00a0
are
\u00a0
significant
\u00a0
revenues
\u00a0
or
\u00a0
expenses
\u00a0
in
\u00a0
foreign
\u00a0
currency.
\u00a0
When
\u00a0
hedge
\u00a0
accounting
\u00a0
is
\u00a0
applied,
\u00a0
the
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
from
\u00a0
the
\u00a0
hedges
are
\u00a0
recognized
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
at
\u00a0
the
\u00a0
same
\u00a0
time
\u00a0
as
\u00a0
the
\u00a0
exchange
\u00a0
rate
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
for
\u00a0
the
\u00a0
hedged
\u00a0
items
\u00a0
are
\u00a0
recognized.
The
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
of
\u00a0
KONE
\u00a0
subsidiaries
\u00a0
are
\u00a0
in
\u00a0
the
\u00a0
local
\u00a0
currencies
\u00a0
of
\u00a0
the
\u00a0
subsidiaries
\u00a0
whenever
\u00a0
possible.
\u00a0
In
\u00a0
case
\u00a0
a
\u00a0
subsidiary
\u00a0
company
\u00a0
has
\u00a0
a
\u00a0
financial
\u00a0
asset
\u00a0
or
\u00a0
liability
\u00a0
in
\u00a0
other
than
\u00a0
its
\u00a0
local
\u00a0
currency,
\u00a0
these
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
hedged
\u00a0
with
\u00a0
foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts
\u00a0
whenever
\u00a0
possible
\u00a0
and
\u00a0
required
\u00a0
by
\u00a0
the
\u00a0
KONE
\u00a0
Treasury
\u00a0
Policy.
KONE\u2019s
\u00a0
internal
\u00a0
loans
\u00a0
and
\u00a0
deposits
\u00a0
are
\u00a0
primarily
\u00a0
initiated
\u00a0
in
\u00a0
the
\u00a0
local
\u00a0
currencies
\u00a0
of
\u00a0
the
\u00a0
subsidiaries
\u00a0
in
\u00a0
which
\u00a0
case
\u00a0
the
\u00a0
possible
\u00a0
foreign
\u00a0
exchange
\u00a0
risks
\u00a0
are
\u00a0
hedged,
\u00a0
by
\u00a0
the
\u00a0
parent
\u00a0
company,
\u00a0
using
foreign
\u00a0
exchange
\u00a0
swap
\u00a0
contracts.
Translation
\u00a0
risks
Changes
\u00a0
in
\u00a0
consolidation
\u00a0
exchange
\u00a0
rates
\u00a0
affect
\u00a0
KONE\u2019s
\u00a0
statement
\u00a0
of
\u00a0
income,
\u00a0
statement
\u00a0
of
\u00a0
cash
\u00a0
flows
\u00a0
and
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position,
\u00a0
which
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
euros.
\u00a0
As
\u00a0
approximately
\u00a0
69%
\u00a0
of
KONE\u2019s
\u00a0
revenues
\u00a0
occur
\u00a0
in
\u00a0
functional
\u00a0
currencies
\u00a0
other
\u00a0
than
\u00a0
euro,
\u00a0
the
\u00a0
translation
\u00a0
risk
\u00a0
is
\u00a0
significant
\u00a0
for
\u00a0
KONE.
\u00a0
A
\u00a0
change
\u00a0
of
\u00a0
10%
\u00a0
in
\u00a0
the
\u00a0
annual
\u00a0
average
\u00a0
foreign
\u00a0
exchange
\u00a0
rates
\u00a0
would
\u00a0
have
\u00a0
caused
\u00a0
a
6.9%
\u00a0
(7.7%)
\u00a0
change
\u00a0
in
\u00a0
2022
\u00a0
consolidated
\u00a0
sales
\u00a0
in
\u00a0
euros.
\u00a0
Such
\u00a0
a
\u00a0
change
\u00a0
would
\u00a0
have
\u00a0
had
\u00a0
a
\u00a0
higher
\u00a0
impact
\u00a0
on
\u00a0
KONE\u2019s
\u00a0
operating
\u00a0
income
\u00a0
and
\u00a0
therefore
\u00a0
also
\u00a0
some
\u00a0
impact
\u00a0
on
\u00a0
KONE\u2019s
\u00a0
relative
\u00a0
operating
income.
\u00a0
The
\u00a0
translation
\u00a0
of
\u00a0
the
\u00a0
subsidiaries\u2019
\u00a0
balance
\u00a0
sheets
\u00a0
into
\u00a0
euros
\u00a0
caused
\u00a0
translation
\u00a0
differences
\u00a0
of
\u00a0
EUR
\u00a0
5.1
\u00a0
(205.6)
\u00a0
million
\u00a0
in
\u00a0
2022.
\u00a0
The
\u00a0
translation
\u00a0
risk
\u00a0
is
\u00a0
not
\u00a0
hedged
\u00a0
as
\u00a0
a
\u00a0
rule
\u00a0
as
\u00a0
KONE\u2019s
business
\u00a0
consists
\u00a0
of
\u00a0
continuous
\u00a0
operations
\u00a0
in
\u00a0
various
\u00a0
currency
\u00a0
areas.
\u00a0
However,
\u00a0
in
\u00a0
individual
\u00a0
cases,
\u00a0
KONE
\u00a0
can
\u00a0
also
\u00a0
hedge
\u00a0
translation
\u00a0
risk
\u00a0
related
\u00a0
to
\u00a0
net
\u00a0
assets
\u00a0
of
\u00a0
subsidiaries.
\u00a0
The
\u00a0
most
\u00a0
significant
translation
\u00a0
risk
\u00a0
exposures
\u00a0
arising
\u00a0
from
\u00a0
operations
\u00a0
of
\u00a0
foreign
\u00a0
subsidiaries
\u00a0
are
\u00a0
in
\u00a0
the
\u00a0
Chinese
\u00a0
yuan,
\u00a0
Hong
\u00a0
Kong
\u00a0
dollar
\u00a0
and
\u00a0
US
\u00a0
dollar.
Foreign
\u00a0
exchange
\u00a0
risk
\u00a0
sensitivity
\u00a0
analysis
\u00a0
of
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
The
\u00a0
foreign
\u00a0
exchange
\u00a0
risk
\u00a0
sensitivity
\u00a0
analysis
\u00a0
for
\u00a0
the
\u00a0
most
\u00a0
important
\u00a0
currency
\u00a0
pairs
\u00a0
has
\u00a0
been
\u00a0
calculated
\u00a0
for
\u00a0
the
\u00a0
KONE
\u00a0
companies\u2019
\u00a0
foreign
\u00a0
currency
\u00a0
denominated
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities,
including
\u00a0
foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts
\u00a0
outstanding
\u00a0
at
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
date.
\u00a0
The
\u00a0
order
\u00a0
book
\u00a0
or
\u00a0
forecasted
\u00a0
cash
\u00a0
flows
\u00a0
are
\u00a0
not
\u00a0
included.
\u00a0
The
\u00a0
exposures
\u00a0
in
\u00a0
the
\u00a0
most
\u00a0
important
currency
\u00a0
pairs
\u00a0
are
\u00a0
disclosed
\u00a0
in
\u00a0
the
\u00a0
table
\u00a0
below.
\u00a0
The
\u00a0
foreign
\u00a0
exchange
\u00a0
risk
\u00a0
sensitivity
\u00a0
analysis
\u00a0
presents
\u00a0
the
\u00a0
impact
\u00a0
of
\u00a0
a
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
foreign
\u00a0
exchange
\u00a0
rates
\u00a0
of
\u00a0
10
\u00a0
percent
\u00a0
on
\u00a0
net
\u00a0
income
\u00a0
and
\u00a0
on
equity
\u00a0
at
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
date.
\u00a0
Changes
\u00a0
in
\u00a0
the
\u00a0
equity
\u00a0
are
\u00a0
mainly
\u00a0
caused
\u00a0
by
\u00a0
foreign
\u00a0
exchange
\u00a0
forwards
\u00a0
designated
\u00a0
in
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting.
\u00a0
The
\u00a0
sensitivity
\u00a0
analysis
\u00a0
is
calculated
\u00a0
before
\u00a0
taxes.
\u00a0
A
\u00a0
10%
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
foreign
\u00a0
exchange
\u00a0
rates
\u00a0
(strengthening
\u00a0
of
\u00a0
the
\u00a0
euro,
\u00a0
Chinese
\u00a0
yuan
\u00a0
and
\u00a0
US
\u00a0
dollar)
\u00a0
at
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
date
\u00a0
would
\u00a0
have
\u00a0
resulted
\u00a0
in
\u00a0
an
impact
\u00a0
of
\u00a0
EUR
\u00a0
-9.6
\u00a0
(-11.2)
\u00a0
million
\u00a0
on
\u00a0
the
\u00a0
net
\u00a0
income
\u00a0
and
\u00a0
an
\u00a0
impact
\u00a0
of
\u00a0
EUR
\u00a0
50.9
\u00a0
(69.0)
\u00a0
million
\u00a0
on
\u00a0
equity.
Accounting
\u00a0
principles
Foreign
\u00a0
currency
\u00a0
transactions
\u00a0
and
\u00a0
translation
The
\u00a0
items
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
financial
\u00a0
statements
\u00a0
are
\u00a0
initially
\u00a0
recognized
\u00a0
in
\u00a0
the
\u00a0
functional
\u00a0
currencies,
\u00a0
which
\u00a0
are
\u00a0
defined
\u00a0
for
\u00a0
each
\u00a0
group
\u00a0
subsidiary
\u00a0
based
\u00a0
on
\u00a0
their
\u00a0
primary
\u00a0
economic
\u00a0
environment.
The
\u00a0
presentation
\u00a0
currency
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
statements
\u00a0
is
\u00a0
the
\u00a0
euro,
\u00a0
which
\u00a0
is
\u00a0
also
\u00a0
the
\u00a0
functional
\u00a0
currency
\u00a0
of
\u00a0
the
\u00a0
parent
\u00a0
company.
The
\u00a0
initial
\u00a0
recognition
\u00a0
of
\u00a0
transactions
\u00a0
denominated
\u00a0
in
\u00a0
foreign
\u00a0
currencies
\u00a0
in
\u00a0
the
\u00a0
functional
\u00a0
currency
\u00a0
takes
\u00a0
place
\u00a0
at
\u00a0
the
\u00a0
rate
\u00a0
of
\u00a0
exchange
\u00a0
prevailing
\u00a0
at
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
the
\u00a0
individual
\u00a0
transaction.
\u00a0
Foreign
currency
\u00a0
denominated
\u00a0
receivables
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
translated
\u00a0
using
\u00a0
period
\u00a0
end
\u00a0
exchange
\u00a0
rates.
Foreign
\u00a0
exchange
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
related
\u00a0
to
\u00a0
business
\u00a0
transactions
\u00a0
are
\u00a0
treated
\u00a0
as
\u00a0
adjustments
\u00a0
within
\u00a0
operating
\u00a0
income.
\u00a0
Foreign
\u00a0
exchange
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
associated
\u00a0
with
\u00a0
financing
transactions
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
financing
\u00a0
income
\u00a0
and
\u00a0
expenses.
The
\u00a0
statements
\u00a0
of
\u00a0
income
\u00a0
of
\u00a0
foreign
\u00a0
subsidiaries,
\u00a0
whose
\u00a0
functional
\u00a0
currency
\u00a0
is
\u00a0
not
\u00a0
the
\u00a0
euro,
\u00a0
are
\u00a0
translated
\u00a0
into
\u00a0
euros
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
average
\u00a0
exchange
\u00a0
rate
\u00a0
of
\u00a0
the
\u00a0
accounting
\u00a0
period.
\u00a0
Items
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
financial
\u00a0
position,
\u00a0
with
\u00a0
the
\u00a0
exception
\u00a0
of
\u00a0
net
\u00a0
income
\u00a0
for
\u00a0
the
\u00a0
accounting
\u00a0
period,
\u00a0
are
\u00a0
translated
\u00a0
into
\u00a0
euros
\u00a0
at
\u00a0
the
\u00a0
closing
\u00a0
date
\u00a0
exchange
\u00a0
rates.
\u00a0
Exchange
\u00a0
rate
\u00a0
differences
\u00a0
arising
\u00a0
from
\u00a0
net
investments
\u00a0
and
\u00a0
associated
\u00a0
companies
\u00a0
in
\u00a0
non-euro
\u00a0
currency
\u00a0
subsidiaries,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
exchange
\u00a0
rate
\u00a0
differences
\u00a0
resulting
\u00a0
from
\u00a0
translating
\u00a0
income
\u00a0
and
\u00a0
expenses
\u00a0
at
\u00a0
the
\u00a0
average
\u00a0
rates
\u00a0
and
\u00a0
assets
and
\u00a0
liabilities
\u00a0
at
\u00a0
the
\u00a0
closing
\u00a0
rate,
\u00a0
are
\u00a0
recorded
\u00a0
in
\u00a0
translation
\u00a0
differences
\u00a0
within
\u00a0
equity.
Respective
\u00a0
changes
\u00a0
during
\u00a0
the
\u00a0
period
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income.
\u00a0
Exchange
\u00a0
rate
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
resulting
\u00a0
from
\u00a0
financial
\u00a0
instruments
\u00a0
designated
\u00a0
as
\u00a0
hedges
\u00a0
of
\u00a0
net
\u00a0
assets
\u00a0
in
foreign
\u00a0
subsidiaries
\u00a0
have
\u00a0
been
\u00a0
recognized
\u00a0
as
\u00a0
translation
\u00a0
differences
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income.
\u00a0
The
\u00a0
cumulative
\u00a0
translation
\u00a0
differences
\u00a0
related
\u00a0
to
\u00a0
foreign
\u00a0
operations
\u00a0
are
\u00a0
reclassified
\u00a0
from
\u00a0
equity
to
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
upon
\u00a0
the
\u00a0
disposal
\u00a0
of
\u00a0
the
\u00a0
foreign
\u00a0
operation.
Sales
\u00a0
by
\u00a0
currency
\u00a0
1\u201312/2022
A
\u00a0
change
\u00a0
of
\u00a0
10%
\u00a0
in
\u00a0
the
\u00a0
annual
\u00a0
average
\u00a0
foreign
\u00a0
exchange
\u00a0
rates
Impact
\u00a0
on
\u00a0
sales
:
6.9%
\u00a0
change
\u00a0
in
\u00a0
consolidated
\u00a0
sales
\u00a0
in
\u00a0
euros:
\u00a0
Impact
\u00a0
on
\u00a0
operating
\u00a0
income
\u00a0
(EBIT)
:
Higher
\u00a0
impact
\u00a0
on
\u00a0
operating
\u00a0
income
\u00a0
as
\u00a0
compared
\u00a0
to
\u00a0
sales
\u00a0
and
\u00a0
some
\u00a0
impact
\u00a0
on
\u00a0
relative
\u00a0
operating
\u00a0
income
Exposure
\u00a0
against
\u00a0
EUR
Exposure
\u00a0
against
\u00a0
USD
Exposure
\u00a0
against
\u00a0
CNY
MEUR
HKD
USD
GBP
SEK
CNY
JPY
Others
Total
CNY
CAD
Others
Total
Others
Total
Exposure
\u00a0
Dec
\u00a0
31,
\u00a0
2022
-221
-102
-68
-60
60
119
23
-249
108
-96
-29
-17
-148
-148
Exposure
\u00a0
Dec
\u00a0
31,
\u00a0
2021
-447
-107
-67
-56
77
140
-9
-469
107
-82
-15
10
-119
-119
Key
\u00a0
exchange
\u00a0
rates
\u00a0
in
\u00a0
euros
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Average
\u00a0
rate
End
\u00a0
rate
Average
\u00a0
rate
End
\u00a0
rate
Chinese
\u00a0
Yuan
\u00a0
CNY
7.0836
7.3582
7.6388
7.1947
US
\u00a0
Dollar
\u00a0
USD
1.0563
1.0666
1.1851
1.1326
British
\u00a0
Pound
GBP
0.8537
0.8869
0.8615
0.8403
Australian
\u00a0
Dollar
AUD
1.5189
1.5693
1.5792
1.5615
", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_15": { "value": "
Accounting
\u00a0
principles
Foreign
\u00a0
currency
\u00a0
transactions
\u00a0
and
\u00a0
translation
The
\u00a0
items
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
financial
\u00a0
statements
\u00a0
are
\u00a0
initially
\u00a0
recognized
\u00a0
in
\u00a0
the
\u00a0
functional
\u00a0
currencies,
\u00a0
which
\u00a0
are
\u00a0
defined
\u00a0
for
\u00a0
each
\u00a0
group
\u00a0
subsidiary
\u00a0
based
\u00a0
on
\u00a0
their
\u00a0
primary
\u00a0
economic
\u00a0
environment.
The
\u00a0
presentation
\u00a0
currency
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
statements
\u00a0
is
\u00a0
the
\u00a0
euro,
\u00a0
which
\u00a0
is
\u00a0
also
\u00a0
the
\u00a0
functional
\u00a0
currency
\u00a0
of
\u00a0
the
\u00a0
parent
\u00a0
company.
The
\u00a0
initial
\u00a0
recognition
\u00a0
of
\u00a0
transactions
\u00a0
denominated
\u00a0
in
\u00a0
foreign
\u00a0
currencies
\u00a0
in
\u00a0
the
\u00a0
functional
\u00a0
currency
\u00a0
takes
\u00a0
place
\u00a0
at
\u00a0
the
\u00a0
rate
\u00a0
of
\u00a0
exchange
\u00a0
prevailing
\u00a0
at
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
the
\u00a0
individual
\u00a0
transaction.
\u00a0
Foreign
currency
\u00a0
denominated
\u00a0
receivables
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
translated
\u00a0
using
\u00a0
period
\u00a0
end
\u00a0
exchange
\u00a0
rates.
Foreign
\u00a0
exchange
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
related
\u00a0
to
\u00a0
business
\u00a0
transactions
\u00a0
are
\u00a0
treated
\u00a0
as
\u00a0
adjustments
\u00a0
within
\u00a0
operating
\u00a0
income.
\u00a0
Foreign
\u00a0
exchange
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
associated
\u00a0
with
\u00a0
financing
transactions
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
financing
\u00a0
income
\u00a0
and
\u00a0
expenses.
The
\u00a0
statements
\u00a0
of
\u00a0
income
\u00a0
of
\u00a0
foreign
\u00a0
subsidiaries,
\u00a0
whose
\u00a0
functional
\u00a0
currency
\u00a0
is
\u00a0
not
\u00a0
the
\u00a0
euro,
\u00a0
are
\u00a0
translated
\u00a0
into
\u00a0
euros
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
average
\u00a0
exchange
\u00a0
rate
\u00a0
of
\u00a0
the
\u00a0
accounting
\u00a0
period.
\u00a0
Items
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
financial
\u00a0
position,
\u00a0
with
\u00a0
the
\u00a0
exception
\u00a0
of
\u00a0
net
\u00a0
income
\u00a0
for
\u00a0
the
\u00a0
accounting
\u00a0
period,
\u00a0
are
\u00a0
translated
\u00a0
into
\u00a0
euros
\u00a0
at
\u00a0
the
\u00a0
closing
\u00a0
date
\u00a0
exchange
\u00a0
rates.
\u00a0
Exchange
\u00a0
rate
\u00a0
differences
\u00a0
arising
\u00a0
from
\u00a0
net
investments
\u00a0
and
\u00a0
associated
\u00a0
companies
\u00a0
in
\u00a0
non-euro
\u00a0
currency
\u00a0
subsidiaries,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
exchange
\u00a0
rate
\u00a0
differences
\u00a0
resulting
\u00a0
from
\u00a0
translating
\u00a0
income
\u00a0
and
\u00a0
expenses
\u00a0
at
\u00a0
the
\u00a0
average
\u00a0
rates
\u00a0
and
\u00a0
assets
and
\u00a0
liabilities
\u00a0
at
\u00a0
the
\u00a0
closing
\u00a0
rate,
\u00a0
are
\u00a0
recorded
\u00a0
in
\u00a0
translation
\u00a0
differences
\u00a0
within
\u00a0
equity.
Respective
\u00a0
changes
\u00a0
during
\u00a0
the
\u00a0
period
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income.
\u00a0
Exchange
\u00a0
rate
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
resulting
\u00a0
from
\u00a0
financial
\u00a0
instruments
\u00a0
designated
\u00a0
as
\u00a0
hedges
\u00a0
of
\u00a0
net
\u00a0
assets
\u00a0
in
foreign
\u00a0
subsidiaries
\u00a0
have
\u00a0
been
\u00a0
recognized
\u00a0
as
\u00a0
translation
\u00a0
differences
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income.
\u00a0
The
\u00a0
cumulative
\u00a0
translation
\u00a0
differences
\u00a0
related
\u00a0
to
\u00a0
foreign
\u00a0
operations
\u00a0
are
\u00a0
reclassified
\u00a0
from
\u00a0
equity
to
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
upon
\u00a0
the
\u00a0
disposal
\u00a0
of
\u00a0
the
\u00a0
foreign
\u00a0
operation.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_52": { "value": "
2.5
\u00a0
FINANCING
\u00a0
INCOME
\u00a0
AND
\u00a0
EXPENSES
Financing
\u00a0
income
\u00a0
and
\u00a0
expenses,
\u00a0
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Dividend
\u00a0
income
\u00a0
\u00b9
\u207e
0.0
5.7
Interest
\u00a0
income
Change
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
interest
\u00a0
\u00b2
\u207e
2.9
-
Interest
\u00a0
income
\u00a0
on
\u00a0
foreign
\u00a0
exchange
\u00a0
rate
\u00a0
derivatives
26.1
25.7
Interest
\u00a0
income
\u00a0
on
\u00a0
loan
\u00a0
receivables
\u00a0
and
\u00a0
financial
\u00a0
assets
17.4
18.1
Other
\u00a0
financing
\u00a0
income
0.2
0.2
Exchange
\u00a0
rate
\u00a0
gains
\u00a0
\u00b3
\u207e
4.6
3.2
Financing
\u00a0
income
51.2
52.9
Interest
\u00a0
expenses
Change
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
interest
\u00a0
\u00b2
\u207e
-6.0
-5.2
Interest
\u00a0
expenses
\u00a0
on
\u00a0
other
\u00a0
financial
\u00a0
liabilities
\u00a0
\u2074
\u207e
-16.8
-15.8
Other
\u00a0
financing
\u00a0
expenses
\u00a0
\u2075
\u207e
-6.5
-5.8
Exchange
\u00a0
rate
\u00a0
losses
\u00a0
\u00b3
\u207e
-24.6
-0.7
Financing
\u00a0
expenses
-53.9
-27.4
Total
-2.7
25.5
1)
\u00a0
Primarily
\u00a0
consists
\u00a0
of
\u00a0
dividend
\u00a0
received
\u00a0
from
\u00a0
TELC.
2)
\u00a0
Change
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
interest
\u00a0
includes
\u00a0
EUR
\u00a0
-2.7
\u00a0
(-5.7)
\u00a0
million
\u00a0
relating
\u00a0
to
\u00a0
interest
\u00a0
rate
\u00a0
funds
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
3)
\u00a0
Exchange
\u00a0
rate
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
include
\u00a0
excha
\u00a0
nge
\u00a0
rate
\u00a0
differences
\u00a0
on
\u00a0
loans
\u00a0
and
\u00a0
other
\u00a0
receivables
\u00a0
of
\u00a0
EUR
\u00a0
-47.4
\u00a0
(-128.9)
\u00a0
million
\u00a0
and
\u00a0
fair
\u00a0
value
\u00a0
changes
\u00a0
of
\u00a0
foreign
\u00a0
exchange
\u00a0
derivatives
\u00a0
of
\u00a0
EUR
\u00a0
27.4
\u00a0
(131.3)
\u00a0
million.
4)
\u00a0
Includes
\u00a0
interest
\u00a0
expenses
\u00a0
on
\u00a0
the
\u00a0
lease
\u00a0
liabilities
\u00a0
amounting
\u00a0
to
\u00a0
EUR
\u00a0
-10.2
\u00a0
(-8.9)
\u00a0
milli
\u00a0
on.
\u00a0
5)
\u00a0
Includes
commitment
\u00a0
fees
\u00a0
for
\u00a0
undrawn
\u00a0
revolving
\u00a0
credit
\u00a0
facilities
\u00a0
EUR
\u00a0
-0.8
\u00a0
(-0.8)
\u00a0
million
\u00a0
and
\u00a0
banking
\u00a0
charges
\u00a0
and
\u00a0
other
\u00a0
expenses
\u00a0
EUR
\u00a0
-5.7
\u00a0
(-5.0)
\u00a0
million.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_51": { "value": "
2.5
\u00a0
FINANCING
\u00a0
INCOME
\u00a0
AND
\u00a0
EXPENSES
Financing
\u00a0
income
\u00a0
and
\u00a0
expenses,
\u00a0
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Dividend
\u00a0
income
\u00a0
\u00b9
\u207e
0.0
5.7
Interest
\u00a0
income
Change
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
interest
\u00a0
\u00b2
\u207e
2.9
-
Interest
\u00a0
income
\u00a0
on
\u00a0
foreign
\u00a0
exchange
\u00a0
rate
\u00a0
derivatives
26.1
25.7
Interest
\u00a0
income
\u00a0
on
\u00a0
loan
\u00a0
receivables
\u00a0
and
\u00a0
financial
\u00a0
assets
17.4
18.1
Other
\u00a0
financing
\u00a0
income
0.2
0.2
Exchange
\u00a0
rate
\u00a0
gains
\u00a0
\u00b3
\u207e
4.6
3.2
Financing
\u00a0
income
51.2
52.9
Interest
\u00a0
expenses
Change
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
interest
\u00a0
\u00b2
\u207e
-6.0
-5.2
Interest
\u00a0
expenses
\u00a0
on
\u00a0
other
\u00a0
financial
\u00a0
liabilities
\u00a0
\u2074
\u207e
-16.8
-15.8
Other
\u00a0
financing
\u00a0
expenses
\u00a0
\u2075
\u207e
-6.5
-5.8
Exchange
\u00a0
rate
\u00a0
losses
\u00a0
\u00b3
\u207e
-24.6
-0.7
Financing
\u00a0
expenses
-53.9
-27.4
Total
-2.7
25.5
1)
\u00a0
Primarily
\u00a0
consists
\u00a0
of
\u00a0
dividend
\u00a0
received
\u00a0
from
\u00a0
TELC.
2)
\u00a0
Change
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
interest
\u00a0
includes
\u00a0
EUR
\u00a0
-2.7
\u00a0
(-5.7)
\u00a0
million
\u00a0
relating
\u00a0
to
\u00a0
interest
\u00a0
rate
\u00a0
funds
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
3)
\u00a0
Exchange
\u00a0
rate
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
include
\u00a0
excha
\u00a0
nge
\u00a0
rate
\u00a0
differences
\u00a0
on
\u00a0
loans
\u00a0
and
\u00a0
other
\u00a0
receivables
\u00a0
of
\u00a0
EUR
\u00a0
-47.4
\u00a0
(-128.9)
\u00a0
million
\u00a0
and
\u00a0
fair
\u00a0
value
\u00a0
changes
\u00a0
of
\u00a0
foreign
\u00a0
exchange
\u00a0
derivatives
\u00a0
of
\u00a0
EUR
\u00a0
27.4
\u00a0
(131.3)
\u00a0
million.
4)
\u00a0
Includes
\u00a0
interest
\u00a0
expenses
\u00a0
on
\u00a0
the
\u00a0
lease
\u00a0
liabilities
\u00a0
amounting
\u00a0
to
\u00a0
EUR
\u00a0
-10.2
\u00a0
(-8.9)
\u00a0
milli
\u00a0
on.
\u00a0
5)
\u00a0
Includes
commitment
\u00a0
fees
\u00a0
for
\u00a0
undrawn
\u00a0
revolving
\u00a0
credit
\u00a0
facilities
\u00a0
EUR
\u00a0
-0.8
\u00a0
(-0.8)
\u00a0
million
\u00a0
and
\u00a0
banking
\u00a0
charges
\u00a0
and
\u00a0
other
\u00a0
expenses
\u00a0
EUR
\u00a0
-5.7
\u00a0
(-5.0)
\u00a0
million.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_50": { "value": "
2.5
\u00a0
FINANCING
\u00a0
INCOME
\u00a0
AND
\u00a0
EXPENSES
Financing
\u00a0
income
\u00a0
and
\u00a0
expenses,
\u00a0
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Dividend
\u00a0
income
\u00a0
\u00b9
\u207e
0.0
5.7
Interest
\u00a0
income
Change
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
interest
\u00a0
\u00b2
\u207e
2.9
-
Interest
\u00a0
income
\u00a0
on
\u00a0
foreign
\u00a0
exchange
\u00a0
rate
\u00a0
derivatives
26.1
25.7
Interest
\u00a0
income
\u00a0
on
\u00a0
loan
\u00a0
receivables
\u00a0
and
\u00a0
financial
\u00a0
assets
17.4
18.1
Other
\u00a0
financing
\u00a0
income
0.2
0.2
Exchange
\u00a0
rate
\u00a0
gains
\u00a0
\u00b3
\u207e
4.6
3.2
Financing
\u00a0
income
51.2
52.9
Interest
\u00a0
expenses
Change
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
interest
\u00a0
\u00b2
\u207e
-6.0
-5.2
Interest
\u00a0
expenses
\u00a0
on
\u00a0
other
\u00a0
financial
\u00a0
liabilities
\u00a0
\u2074
\u207e
-16.8
-15.8
Other
\u00a0
financing
\u00a0
expenses
\u00a0
\u2075
\u207e
-6.5
-5.8
Exchange
\u00a0
rate
\u00a0
losses
\u00a0
\u00b3
\u207e
-24.6
-0.7
Financing
\u00a0
expenses
-53.9
-27.4
Total
-2.7
25.5
1)
\u00a0
Primarily
\u00a0
consists
\u00a0
of
\u00a0
dividend
\u00a0
received
\u00a0
from
\u00a0
TELC.
2)
\u00a0
Change
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
interest
\u00a0
includes
\u00a0
EUR
\u00a0
-2.7
\u00a0
(-5.7)
\u00a0
million
\u00a0
relating
\u00a0
to
\u00a0
interest
\u00a0
rate
\u00a0
funds
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
3)
\u00a0
Exchange
\u00a0
rate
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
include
\u00a0
excha
\u00a0
nge
\u00a0
rate
\u00a0
differences
\u00a0
on
\u00a0
loans
\u00a0
and
\u00a0
other
\u00a0
receivables
\u00a0
of
\u00a0
EUR
\u00a0
-47.4
\u00a0
(-128.9)
\u00a0
million
\u00a0
and
\u00a0
fair
\u00a0
value
\u00a0
changes
\u00a0
of
\u00a0
foreign
\u00a0
exchange
\u00a0
derivatives
\u00a0
of
\u00a0
EUR
\u00a0
27.4
\u00a0
(131.3)
\u00a0
million.
4)
\u00a0
Includes
\u00a0
interest
\u00a0
expenses
\u00a0
on
\u00a0
the
\u00a0
lease
\u00a0
liabilities
\u00a0
amounting
\u00a0
to
\u00a0
EUR
\u00a0
-10.2
\u00a0
(-8.9)
\u00a0
milli
\u00a0
on.
\u00a0
5)
\u00a0
Includes
commitment
\u00a0
fees
\u00a0
for
\u00a0
undrawn
\u00a0
revolving
\u00a0
credit
\u00a0
facilities
\u00a0
EUR
\u00a0
-0.8
\u00a0
(-0.8)
\u00a0
million
\u00a0
and
\u00a0
banking
\u00a0
charges
\u00a0
and
\u00a0
other
\u00a0
expenses
\u00a0
EUR
\u00a0
-5.7
\u00a0
(-5.0)
\u00a0
million.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_53": { "value": "
2.6
\u00a0
INCOME
\u00a0
TAXES
Accounting
\u00a0
principles
Income
\u00a0
tax
The
\u00a0
Group
\u00a0
tax
\u00a0
expense
\u00a0
includes
\u00a0
taxes
\u00a0
of
\u00a0
subsidiaries
\u00a0
based
\u00a0
on
\u00a0
taxable
\u00a0
income
\u00a0
for
\u00a0
the
\u00a0
period,
\u00a0
together
\u00a0
with
\u00a0
tax
\u00a0
adjustments
\u00a0
for
\u00a0
previous
\u00a0
periods
\u00a0
and
\u00a0
changes
\u00a0
in
\u00a0
deferred
\u00a0
taxes.
\u00a0
Deferred
\u00a0
taxes
\u00a0
are
provided
\u00a0
for
\u00a0
temporary
\u00a0
differences
\u00a0
arising
\u00a0
from
\u00a0
difference
\u00a0
between
\u00a0
the
\u00a0
tax
\u00a0
bases
\u00a0
of
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
and
\u00a0
their
\u00a0
carrying
\u00a0
amounts
\u00a0
in
\u00a0
financial
\u00a0
reporting
\u00a0
and
\u00a0
measured
\u00a0
with
\u00a0
enacted
\u00a0
tax
\u00a0
rates.
Typical
\u00a0
temporary
\u00a0
differences
\u00a0
arise
\u00a0
from
\u00a0
provisions,
\u00a0
depreciation
\u00a0
and
\u00a0
amortization,
\u00a0
inter-company
\u00a0
inventory
\u00a0
margins,
\u00a0
defined
\u00a0
benefit
\u00a0
type
\u00a0
post-retirement
\u00a0
plans
\u00a0
and
\u00a0
tax
\u00a0
losses
\u00a0
carried
\u00a0
forward.
Deferred
\u00a0
tax
\u00a0
assets
\u00a0
on
\u00a0
unused
\u00a0
tax
\u00a0
losses
\u00a0
and
\u00a0
other
\u00a0
temporary
\u00a0
differences
\u00a0
are
\u00a0
recognized
\u00a0
to
\u00a0
the
\u00a0
extent
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
taxable
\u00a0
profit
\u00a0
is
\u00a0
available
\u00a0
to
\u00a0
offset
\u00a0
losses
\u00a0
in
\u00a0
the
\u00a0
future.
A
\u00a0
deferred
\u00a0
tax
\u00a0
liability
\u00a0
is
\u00a0
recognized
\u00a0
on
\u00a0
the
\u00a0
undistributed
\u00a0
profits
\u00a0
of
\u00a0
subsidiaries
\u00a0
where
\u00a0
such
\u00a0
tax
\u00a0
is
\u00a0
applicable
\u00a0
and
\u00a0
it
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
realize
\u00a0
in
\u00a0
the
\u00a0
foreseeable
\u00a0
future.
The
\u00a0
positions
\u00a0
taken
\u00a0
in
\u00a0
tax
\u00a0
returns
\u00a0
are
\u00a0
evaluated
\u00a0
periodically
\u00a0
by
\u00a0
the
\u00a0
management
\u00a0
to
\u00a0
identify
\u00a0
situations
\u00a0
in
\u00a0
which
\u00a0
applicable
\u00a0
tax
\u00a0
regulation
\u00a0
is
\u00a0
subject
\u00a0
to
\u00a0
interpretation.
\u00a0
Based
\u00a0
on
\u00a0
the
\u00a0
evaluation,
adjustments
\u00a0
for
\u00a0
the
\u00a0
uncertain
\u00a0
tax
\u00a0
positions
\u00a0
are
\u00a0
recognized
\u00a0
when
\u00a0
it
\u00a0
is
\u00a0
considered
\u00a0
more
\u00a0
likely
\u00a0
than
\u00a0
not
\u00a0
that
\u00a0
certain
\u00a0
tax
\u00a0
positions
\u00a0
will
\u00a0
be
\u00a0
challenged
\u00a0
by
\u00a0
the
\u00a0
tax
\u00a0
authorities.
\u00a0
The
\u00a0
amounts
\u00a0
recorded
\u00a0
are
based
\u00a0
upon
\u00a0
the
\u00a0
estimated
\u00a0
final
\u00a0
taxes
\u00a0
to
\u00a0
be
\u00a0
paid
\u00a0
to
\u00a0
the
\u00a0
tax
\u00a0
authorities.
Taxes
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income,
\u00a0
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Tax
\u00a0
expense
\u00a0
for
\u00a0
current
\u00a0
year
272.2
310.0
Change
\u00a0
in
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
and
\u00a0
liabilities
-33.8
-17.6
Tax
\u00a0
expense
\u00a0
for
\u00a0
previous
\u00a0
years
5.5
5.7
Total
244.0
298.1
Reconciliation
\u00a0
of
\u00a0
income
\u00a0
before
\u00a0
taxes
\u00a0
with
\u00a0
total
\u00a0
income
\u00a0
taxes
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
income,
\u00a0
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Income
\u00a0
before
\u00a0
taxes
1,028.4
1,320.8
Tax
\u00a0
calculated
\u00a0
at
\u00a0
the
\u00a0
domestic
\u00a0
corporation
\u00a0
tax
\u00a0
rate
\u00a0
(20%)
205.7
264.1
Effect
\u00a0
of
\u00a0
different
\u00a0
tax
\u00a0
rates
\u00a0
in
\u00a0
foreign
\u00a0
subsidiaries
6.9
4.1
Permanent
\u00a0
differences
6.5
-1.2
Taxes
\u00a0
from
\u00a0
previous
\u00a0
years
\u00a0
and
\u00a0
reassessment
\u00a0
of
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
6.4
0.8
Remeasurement
\u00a0
of
\u00a0
deferred
\u00a0
taxes
\u00a0
-
\u00a0
changes
\u00a0
in
\u00a0
corporate
\u00a0
tax
\u00a0
rates
0.6
0.2
Deferred
\u00a0
tax
\u00a0
liability
\u00a0
on
\u00a0
undistributed
\u00a0
earnings
18.3
27.6
Other
-0.4
2.5
Total
244.0
298.1
Effective
\u00a0
tax
\u00a0
rate,
\u00a0
%
\u00a0
\u00b9
\u207e
23.7
22.6
Tax
\u00a0
rate
\u00a0
of
\u00a0
parent
\u00a0
company,
\u00a0
%
20.0
20.0
1)
\u00a0
The
\u00a0
effective
\u00a0
tax
\u00a0
rate
\u00a0
from
\u00a0
the
\u00a0
operations
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
year
\u00a0
2022
\u00a0
was
\u00a0
22.6%
\u00a0
excluding
\u00a0
prior
\u00a0
year
\u00a0
taxes
\u00a0
and
\u00a0
one-time
\u00a0
items
\u00a0
on
\u00a0
Russia
.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_54": { "value": "
Accounting
\u00a0
principles
Income
\u00a0
tax
The
\u00a0
Group
\u00a0
tax
\u00a0
expense
\u00a0
includes
\u00a0
taxes
\u00a0
of
\u00a0
subsidiaries
\u00a0
based
\u00a0
on
\u00a0
taxable
\u00a0
income
\u00a0
for
\u00a0
the
\u00a0
period,
\u00a0
together
\u00a0
with
\u00a0
tax
\u00a0
adjustments
\u00a0
for
\u00a0
previous
\u00a0
periods
\u00a0
and
\u00a0
changes
\u00a0
in
\u00a0
deferred
\u00a0
taxes.
\u00a0
Deferred
\u00a0
taxes
\u00a0
are
provided
\u00a0
for
\u00a0
temporary
\u00a0
differences
\u00a0
arising
\u00a0
from
\u00a0
difference
\u00a0
between
\u00a0
the
\u00a0
tax
\u00a0
bases
\u00a0
of
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
and
\u00a0
their
\u00a0
carrying
\u00a0
amounts
\u00a0
in
\u00a0
financial
\u00a0
reporting
\u00a0
and
\u00a0
measured
\u00a0
with
\u00a0
enacted
\u00a0
tax
\u00a0
rates.
Typical
\u00a0
temporary
\u00a0
differences
\u00a0
arise
\u00a0
from
\u00a0
provisions,
\u00a0
depreciation
\u00a0
and
\u00a0
amortization,
\u00a0
inter-company
\u00a0
inventory
\u00a0
margins,
\u00a0
defined
\u00a0
benefit
\u00a0
type
\u00a0
post-retirement
\u00a0
plans
\u00a0
and
\u00a0
tax
\u00a0
losses
\u00a0
carried
\u00a0
forward.
Deferred
\u00a0
tax
\u00a0
assets
\u00a0
on
\u00a0
unused
\u00a0
tax
\u00a0
losses
\u00a0
and
\u00a0
other
\u00a0
temporary
\u00a0
differences
\u00a0
are
\u00a0
recognized
\u00a0
to
\u00a0
the
\u00a0
extent
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
taxable
\u00a0
profit
\u00a0
is
\u00a0
available
\u00a0
to
\u00a0
offset
\u00a0
losses
\u00a0
in
\u00a0
the
\u00a0
future.
A
\u00a0
deferred
\u00a0
tax
\u00a0
liability
\u00a0
is
\u00a0
recognized
\u00a0
on
\u00a0
the
\u00a0
undistributed
\u00a0
profits
\u00a0
of
\u00a0
subsidiaries
\u00a0
where
\u00a0
such
\u00a0
tax
\u00a0
is
\u00a0
applicable
\u00a0
and
\u00a0
it
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
realize
\u00a0
in
\u00a0
the
\u00a0
foreseeable
\u00a0
future.
The
\u00a0
positions
\u00a0
taken
\u00a0
in
\u00a0
tax
\u00a0
returns
\u00a0
are
\u00a0
evaluated
\u00a0
periodically
\u00a0
by
\u00a0
the
\u00a0
management
\u00a0
to
\u00a0
identify
\u00a0
situations
\u00a0
in
\u00a0
which
\u00a0
applicable
\u00a0
tax
\u00a0
regulation
\u00a0
is
\u00a0
subject
\u00a0
to
\u00a0
interpretation.
\u00a0
Based
\u00a0
on
\u00a0
the
\u00a0
evaluation,
adjustments
\u00a0
for
\u00a0
the
\u00a0
uncertain
\u00a0
tax
\u00a0
positions
\u00a0
are
\u00a0
recognized
\u00a0
when
\u00a0
it
\u00a0
is
\u00a0
considered
\u00a0
more
\u00a0
likely
\u00a0
than
\u00a0
not
\u00a0
that
\u00a0
certain
\u00a0
tax
\u00a0
positions
\u00a0
will
\u00a0
be
\u00a0
challenged
\u00a0
by
\u00a0
the
\u00a0
tax
\u00a0
authorities.
\u00a0
The
\u00a0
amounts
\u00a0
recorded
\u00a0
are
based
\u00a0
upon
\u00a0
the
\u00a0
estimated
\u00a0
final
\u00a0
taxes
\u00a0
to
\u00a0
be
\u00a0
paid
\u00a0
to
\u00a0
the
\u00a0
tax
\u00a0
authorities.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_55": { "value": "
2.7
\u00a0
EARNINGS
\u00a0
PER
\u00a0
SHARE
Accounting
\u00a0
principles
Earnings
\u00a0
per
\u00a0
share
The
\u00a0
basic
\u00a0
earnings
\u00a0
per
\u00a0
share
\u00a0
figure
\u00a0
is
\u00a0
calculated
\u00a0
by
\u00a0
dividing
\u00a0
the
\u00a0
net
\u00a0
income
\u00a0
attributable
\u00a0
to
\u00a0
the
\u00a0
shareholders
\u00a0
of
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
by
\u00a0
the
\u00a0
weighted
\u00a0
average
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
outstanding
\u00a0
during
\u00a0
the
year.
\u00a0
Diluted
\u00a0
earnings
\u00a0
per
\u00a0
share
\u00a0
is
\u00a0
calculated
\u00a0
by
\u00a0
adjusting
\u00a0
the
\u00a0
weighted
\u00a0
average
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
by
\u00a0
the
\u00a0
effect
\u00a0
of
\u00a0
potential
\u00a0
diluting
\u00a0
shares
\u00a0
due
\u00a0
to
\u00a0
share-based
\u00a0
incentive
\u00a0
plans
\u00a0
of
\u00a0
the
\u00a0
Group.
\u00a0
KONE
has
\u00a0
two
\u00a0
classes
\u00a0
of
\u00a0
shares
\u00a0
that
\u00a0
are
\u00a0
both
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
calculation
\u00a0
of
\u00a0
earnings
\u00a0
per
\u00a0
share.
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Net
\u00a0
income
\u00a0
attributable
\u00a0
to
\u00a0
the
\u00a0
shareholders
\u00a0
of
\u00a0
the
\u00a0
parent
\u00a0
company,
\u00a0
MEUR
774.5
1,014.2
Weighted
\u00a0
average
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
(1,000
\u00a0
shares)
517,841
518,055
Basic
\u00a0
earnings
\u00a0
per
\u00a0
share,
\u00a0
EUR
1.50
1.96
Dilution
\u00a0
effect
\u00a0
of
\u00a0
share-based
\u00a0
incentive
\u00a0
plans
\u00a0
(1,000
\u00a0
shares)
323
578
Weighted
\u00a0
average
\u00a0
number
\u00a0
of
\u00a0
shares,
\u00a0
dilution
\u00a0
adjusted
\u00a0
(1,000
\u00a0
shares)
518,164
518,634
Diluted
\u00a0
earnings
\u00a0
per
\u00a0
share,
\u00a0
EUR
1.49
1.96
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_56": { "value": "
Accounting
\u00a0
principles
Earnings
\u00a0
per
\u00a0
share
The
\u00a0
basic
\u00a0
earnings
\u00a0
per
\u00a0
share
\u00a0
figure
\u00a0
is
\u00a0
calculated
\u00a0
by
\u00a0
dividing
\u00a0
the
\u00a0
net
\u00a0
income
\u00a0
attributable
\u00a0
to
\u00a0
the
\u00a0
shareholders
\u00a0
of
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
by
\u00a0
the
\u00a0
weighted
\u00a0
average
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
outstanding
\u00a0
during
\u00a0
the
year.
\u00a0
Diluted
\u00a0
earnings
\u00a0
per
\u00a0
share
\u00a0
is
\u00a0
calculated
\u00a0
by
\u00a0
adjusting
\u00a0
the
\u00a0
weighted
\u00a0
average
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
by
\u00a0
the
\u00a0
effect
\u00a0
of
\u00a0
potential
\u00a0
diluting
\u00a0
shares
\u00a0
due
\u00a0
to
\u00a0
share-based
\u00a0
incentive
\u00a0
plans
\u00a0
of
\u00a0
the
\u00a0
Group.
\u00a0
KONE
has
\u00a0
two
\u00a0
classes
\u00a0
of
\u00a0
shares
\u00a0
that
\u00a0
are
\u00a0
both
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
calculation
\u00a0
of
\u00a0
earnings
\u00a0
per
\u00a0
share.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_85": { "value": "
2.8
\u00a0
OTHER
\u00a0
COMPREHENSIVE
\u00a0
INCOME
Disclosure
\u00a0
of
\u00a0
components
\u00a0
of
\u00a0
other
\u00a0
comprehensive
\u00a0
income
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Translation
\u00a0
differences
5.1
205.6
Hedging
\u00a0
of
\u00a0
foreign
\u00a0
subsidiaries
-21.2
-28.6
Changes
\u00a0
in
\u00a0
fair
\u00a0
value
-20.8
0.6
Remeasurements
\u00a0
of
\u00a0
employee
\u00a0
benefits
27.4
-3.3
Cash
\u00a0
flow
\u00a0
hedges:
Gains/losses
\u00a0
incurred
\u00a0
during
\u00a0
the
\u00a0
year
6.4
-8.2
Reclassifications
\u00a0
included
\u00a0
in
\u00a0
profit
\u00a0
or
\u00a0
loss
-5.8
8.6
Cash
\u00a0
flow
\u00a0
hedges,
\u00a0
net
0.6
0.4
Income
\u00a0
tax
\u00a0
relating
\u00a0
to
\u00a0
components
\u00a0
of
\u00a0
other
\u00a0
comprehensive
\u00a0
income
16.9
-5.9
Other
\u00a0
comprehensive
\u00a0
income
8.0
168.9
Disclosure
\u00a0
of
\u00a0
tax
\u00a0
effects
\u00a0
relating
\u00a0
to
\u00a0
components
\u00a0
of
\u00a0
other
\u00a0
comprehensive
\u00a0
income
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
MEUR
Gross
amount
Tax
expense/
benefit
Net-of-tax
\u00a0
amount
Gross
amount
Tax
expense/
\u00a0
benefit
Net-of-tax
\u00a0
amount
Translation
\u00a0
differences
5.1
-
5.1
205.6
-
205.6
Hedging
\u00a0
of
\u00a0
foreign
\u00a0
subsidiaries
-21.2
-
-21.2
-28.6
-
-28.6
Cash
\u00a0
flow
\u00a0
hedges
0.6
1.9
2.5
0.4
-2.5
-2.1
Items
\u00a0
that
\u00a0
may
\u00a0
be
\u00a0
subsequently
\u00a0
reclassified
to
\u00a0
statement
\u00a0
of
\u00a0
income
-15.5
1.9
-13.6
177.5
-2.5
175.0
Changes
\u00a0
in
\u00a0
fair
\u00a0
value
-20.8
-
-20.8
0.6
-
0.6
Remeasurements
\u00a0
of
\u00a0
employee
\u00a0
benefits
27.4
15.0
42.4
-3.3
-3.4
-6.7
Items
\u00a0
that
\u00a0
will
\u00a0
not
\u00a0
be
\u00a0
reclassified
\u00a0
to
statement
\u00a0
of
\u00a0
income
6.6
15.0
21.6
-2.7
-3.4
-6.1
Total
\u00a0
other
\u00a0
comprehensive
\u00a0
income
-8.9
16.9
8.0
174.8
-5.9
168.9
5.2
\u00a0
SHAREHOLDERS\u2019
\u00a0
EQUITY
Shares
\u00a0
and
\u00a0
share
\u00a0
capital
At
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
2022
\u00a0
financial
\u00a0
year,
\u00a0
the
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
outstanding
\u00a0
was
\u00a0
529,395,860.
\u00a0
The
\u00a0
share
\u00a0
capital
\u00a0
was
\u00a0
EUR
\u00a0
66.2
\u00a0
million
\u00a0
and
\u00a0
the
\u00a0
total
\u00a0
number
\u00a0
of
\u00a0
votes
\u00a0
was
\u00a0
121,527,427.
\u00a0
Each
\u00a0
class
\u00a0
A
share
\u00a0
is
\u00a0
assigned
\u00a0
one
\u00a0
vote,
\u00a0
as
\u00a0
is
\u00a0
each
\u00a0
block
\u00a0
of
\u00a0
10
\u00a0
class
\u00a0
B
\u00a0
shares,
\u00a0
with
\u00a0
the
\u00a0
provision
\u00a0
that
\u00a0
each
\u00a0
shareholder
\u00a0
is
\u00a0
entitled
\u00a0
to
\u00a0
at
\u00a0
least
\u00a0
one
\u00a0
vote.
\u00a0
The
\u00a0
accounting
\u00a0
par
\u00a0
value
\u00a0
of
\u00a0
both
\u00a0
classes
\u00a0
of
\u00a0
shares
\u00a0
is
\u00a0
EUR
0.125.
At
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
year,
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
\u00a0
KONE
\u00a0
Corporation
\u00a0
had
\u00a0
a
\u00a0
valid
\u00a0
authorization
\u00a0
granted
\u00a0
by
\u00a0
the
\u00a0
Annual
\u00a0
General
\u00a0
Meeting
\u00a0
in
\u00a0
March
\u00a0
2022
\u00a0
to
\u00a0
increase
\u00a0
the
\u00a0
share
\u00a0
capital
\u00a0
and
\u00a0
to
issue
\u00a0
stock
\u00a0
options.
\u00a0
The
\u00a0
authorization
\u00a0
remains
\u00a0
in
\u00a0
effect
\u00a0
until
\u00a0
the
\u00a0
conclusion
\u00a0
of
\u00a0
the
\u00a0
following
\u00a0
annual
\u00a0
general
\u00a0
meeting,
\u00a0
however
\u00a0
at
\u00a0
the
\u00a0
latest
\u00a0
until
\u00a0
30
\u00a0
June
\u00a0
2023.
In
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
Articles
\u00a0
of
\u00a0
Association,
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
are
\u00a0
preferred
\u00a0
for
\u00a0
a
\u00a0
dividend
\u00a0
which
\u00a0
is
\u00a0
at
\u00a0
least
\u00a0
1%
\u00a0
and
\u00a0
no
\u00a0
more
\u00a0
than
\u00a0
2.5%
\u00a0
higher
\u00a0
than
\u00a0
the
\u00a0
dividend
\u00a0
paid
\u00a0
to
\u00a0
the
\u00a0
holders
\u00a0
of
\u00a0
class
\u00a0
A
shares,
\u00a0
calculated
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
amount
\u00a0
obtained
\u00a0
by
\u00a0
dividing
\u00a0
the
\u00a0
share
\u00a0
capital
\u00a0
entered
\u00a0
into
\u00a0
the
\u00a0
Trade
\u00a0
Register
\u00a0
by
\u00a0
the
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
entered
\u00a0
into
\u00a0
the
\u00a0
Trade
\u00a0
Register.
In
\u00a0
2022
\u00a0
or
\u00a0
2021
\u00a0
there
\u00a0
were
\u00a0
no
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
share
\u00a0
capital
\u00a0
of
\u00a0
KONE
\u00a0
Corporation.
Authority
\u00a0
to
\u00a0
buy
\u00a0
own
\u00a0
shares
KONE
\u00a0
Corporation\u2019s
\u00a0
Annual
\u00a0
General
\u00a0
Meeting
\u00a0
held
\u00a0
on
\u00a0
March
\u00a0
2,
\u00a0
2022
\u00a0
authorized
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
to
\u00a0
repurchase
\u00a0
the
\u00a0
company\u2019s
\u00a0
own
\u00a0
shares.
\u00a0
The
\u00a0
General
\u00a0
Meeting
\u00a0
approved
\u00a0
the
\u00a0
authorization
for
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
to
\u00a0
repurchase
\u00a0
KONE\u2019s
\u00a0
own
\u00a0
shares.
\u00a0
Altogether
\u00a0
no
\u00a0
more
\u00a0
than
\u00a0
52,930,000
\u00a0
shares
\u00a0
may
\u00a0
be
\u00a0
repurchased,
\u00a0
of
\u00a0
which
\u00a0
no
\u00a0
more
\u00a0
than
\u00a0
7,620,000
\u00a0
may
\u00a0
be
\u00a0
class
\u00a0
A
\u00a0
shares
\u00a0
and
45,310,000
\u00a0
class
\u00a0
B
\u00a0
shares.
The
\u00a0
minimum
\u00a0
and
\u00a0
maximum
\u00a0
consideration
\u00a0
for
\u00a0
the
\u00a0
shares
\u00a0
to
\u00a0
be
\u00a0
purchased
\u00a0
is
\u00a0
determined
\u00a0
for
\u00a0
both
\u00a0
class
\u00a0
A
\u00a0
and
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
on
\u00a0
the
\u00a0
basis
\u00a0
of
\u00a0
the
\u00a0
trading
\u00a0
price
\u00a0
for
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
determined
\u00a0
on
\u00a0
the
Nasdaq
\u00a0
Helsinki
\u00a0
Ltd.
\u00a0
on
\u00a0
the
\u00a0
time
\u00a0
of
\u00a0
purchase.
A
\u00a0
total
\u00a0
of
\u00a0
1,083,500
\u00a0
B
\u00a0
class
\u00a0
shares
\u00a0
were
\u00a0
purchased
\u00a0
by
\u00a0
KONE
\u00a0
on
\u00a0
the
\u00a0
Helsinki
\u00a0
Stock
\u00a0
Exchange
\u00a0
(Nasdaq
\u00a0
Helsinki
\u00a0
Ltd)
\u00a0
in
\u00a0
2022.
\u00a0
The
\u00a0
total
\u00a0
amount
\u00a0
paid
\u00a0
to
\u00a0
acquire
\u00a0
shares
\u00a0
amounted
\u00a0
to
\u00a0
EUR
\u00a0
50.0
million
\u00a0
with
\u00a0
the
\u00a0
average
\u00a0
market
\u00a0
price
\u00a0
totaling
\u00a0
EUR
\u00a0
46.11
\u00a0
per
\u00a0
share
\u00a0
prevailing
\u00a0
at
\u00a0
the
\u00a0
time
\u00a0
of
\u00a0
purchase.
\u00a0
All
\u00a0
shares
\u00a0
held
\u00a0
by
\u00a0
KONE
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
consisted
\u00a0
of
\u00a0
B
\u00a0
class
\u00a0
shares.
Accounting
\u00a0
principles
Equity
\u00a0
and
\u00a0
profit
\u00a0
distribution
The
\u00a0
total
\u00a0
shareholders\u2019
\u00a0
equity
\u00a0
consists
\u00a0
of
\u00a0
the
\u00a0
share
\u00a0
capital,
\u00a0
the
\u00a0
share
\u00a0
premium
\u00a0
account,
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
other
\u00a0
reserves,
\u00a0
translation
\u00a0
differences,
\u00a0
the
\u00a0
paid-up
\u00a0
unrestricted
\u00a0
equity
\u00a0
reserve,
remeasurements
\u00a0
of
\u00a0
employee
\u00a0
benefits
\u00a0
and
\u00a0
retained
\u00a0
earnings.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
other
\u00a0
reserves
\u00a0
include
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
cash
\u00a0
flow
\u00a0
hedges.
\u00a0
Differences
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
application
\u00a0
of
\u00a0
the
acquisition
\u00a0
method
\u00a0
on
\u00a0
the
\u00a0
translation
\u00a0
of
\u00a0
the
\u00a0
net
\u00a0
investment
\u00a0
in
\u00a0
foreign
\u00a0
subsidiaries
\u00a0
and
\u00a0
associated
\u00a0
companies
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
translation
\u00a0
differences.
\u00a0
Exchange
\u00a0
rate
\u00a0
differences
\u00a0
resulting
\u00a0
from
financial
\u00a0
instruments
\u00a0
intended
\u00a0
as
\u00a0
hedges
\u00a0
of
\u00a0
the
\u00a0
net
\u00a0
assets
\u00a0
in
\u00a0
foreign
\u00a0
subsidiaries
\u00a0
are
\u00a0
also
\u00a0
recognized
\u00a0
as
\u00a0
translation
\u00a0
differe
\u00a0
nces.
\u00a0
Actuarial
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
arising
\u00a0
from
\u00a0
revaluation
\u00a0
of
\u00a0
employee
benefits
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
remeasurements
\u00a0
of
\u00a0
employee
\u00a0
benefits.
\u00a0
The
\u00a0
purchase
\u00a0
price
\u00a0
of
\u00a0
own
\u00a0
shares
\u00a0
purchased
\u00a0
by
\u00a0
KONE
\u00a0
Corporation
\u00a0
is
\u00a0
deducted
\u00a0
from
\u00a0
retained
\u00a0
earnings.
\u00a0
The
\u00a0
net
\u00a0
income
\u00a0
for
\u00a0
the
accounting
\u00a0
period
\u00a0
is
\u00a0
recognized
\u00a0
directly
\u00a0
in
\u00a0
retained
\u00a0
earnings.
When
\u00a0
KONE
\u00a0
Corporation
\u00a0
purchases
\u00a0
its
\u00a0
own
\u00a0
shares,
\u00a0
the
\u00a0
consideration
\u00a0
paid
\u00a0
and
\u00a0
costs
\u00a0
directly
\u00a0
attributable
\u00a0
to
\u00a0
the
\u00a0
purchase
\u00a0
transaction
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
a
\u00a0
deduction
\u00a0
in
\u00a0
equity.
\u00a0
When
\u00a0
such
\u00a0
shares
are
\u00a0
sold,
\u00a0
the
\u00a0
consideration
\u00a0
received,
\u00a0
net
\u00a0
of
\u00a0
directly
\u00a0
attributable
\u00a0
transaction
\u00a0
costs,
\u00a0
is
\u00a0
included
\u00a0
in
\u00a0
equity.
Profit
\u00a0
distribution
\u00a0
includes
\u00a0
dividends
\u00a0
and
\u00a0
donations
\u00a0
decided
\u00a0
by
\u00a0
the
\u00a0
Shareholders\u2019
\u00a0
Meeting.
\u00a0
The
\u00a0
dividend
\u00a0
and
\u00a0
distribution
\u00a0
of
\u00a0
profits
\u00a0
proposed
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
\u00a0
KONE
\u00a0
Corporation
\u00a0
for
\u00a0
the
financial
\u00a0
year
\u00a0
ended,
\u00a0
is
\u00a0
not
\u00a0
deducted
\u00a0
from
\u00a0
the
\u00a0
equity
\u00a0
prior
\u00a0
to
\u00a0
acceptance
\u00a0
by
\u00a0
a
\u00a0
Shareholders\u2019
\u00a0
Meeting.
More
\u00a0
information
Please,
\u00a0
refer
\u00a0
to
\u00a0
section
\u00a0
6.2
\u00a0
for
\u00a0
more
\u00a0
information
\u00a0
on
\u00a0
share-based
\u00a0
incentive
\u00a0
plans.
", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_18": { "value": "
3.1
\u00a0
INVENTORIES
Accounting
principles
Inventories
Inventories
\u00a0
are
\u00a0
valued
\u00a0
at
\u00a0
the
\u00a0
lower
\u00a0
of
\u00a0
cost
\u00a0
or
\u00a0
net
\u00a0
realizable
\u00a0
value.
\u00a0
Raw
\u00a0
materials
\u00a0
and
\u00a0
supplies
\u00a0
are
\u00a0
valued
\u00a0
based
\u00a0
on
\u00a0
weighted
\u00a0
average
\u00a0
cost
\u00a0
method
\u00a0
or
\u00a0
at
\u00a0
standard
\u00a0
cost.
\u00a0
Semi-manufactures
\u00a0
are
valued
\u00a0
at
\u00a0
production
\u00a0
costs.
Work
\u00a0
in
\u00a0
progress
\u00a0
includes
\u00a0
direct
\u00a0
labor
\u00a0
and
\u00a0
material
\u00a0
costs
\u00a0
as
\u00a0
of
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
date
\u00a0
with
\u00a0
a
\u00a0
proportion
\u00a0
of
\u00a0
indirect
\u00a0
costs
\u00a0
related
\u00a0
to
\u00a0
manufacturing
\u00a0
and
\u00a0
installation
allocated
\u00a0
to
\u00a0
the
\u00a0
firm
\u00a0
customer
\u00a0
order
\u00a0
when
\u00a0
control
\u00a0
has
\u00a0
not
\u00a0
yet
\u00a0
transferred
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
Firm
\u00a0
customer
\u00a0
orders
\u00a0
are
\u00a0
mainly
\u00a0
fixed
\u00a0
price
\u00a0
contracts
\u00a0
with
\u00a0
customers
\u00a0
for
\u00a0
the
\u00a0
sale
\u00a0
of
\u00a0
new
\u00a0
equipment
\u00a0
or
\u00a0
for
the
\u00a0
modernization
\u00a0
of
\u00a0
old
\u00a0
equipment.
An
\u00a0
allowance
\u00a0
is
\u00a0
recorded
\u00a0
for
\u00a0
obsolete
\u00a0
items
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
\u00a0
estimate
\u00a0
of
\u00a0
expected
\u00a0
net
\u00a0
realizable
\u00a0
value.
Inventories,
\u00a0
MEUR
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Raw
\u00a0
materials,
\u00a0
supplies
\u00a0
and
\u00a0
finished
\u00a0
goods
409.9
326.6
Work
\u00a0
in
\u00a0
progress
411.1
351.9
Advance
\u00a0
payments
22.6
39.2
Total
843.6
717.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_17": { "value": "
Accounting
principles
Inventories
Inventories
\u00a0
are
\u00a0
valued
\u00a0
at
\u00a0
the
\u00a0
lower
\u00a0
of
\u00a0
cost
\u00a0
or
\u00a0
net
\u00a0
realizable
\u00a0
value.
\u00a0
Raw
\u00a0
materials
\u00a0
and
\u00a0
supplies
\u00a0
are
\u00a0
valued
\u00a0
based
\u00a0
on
\u00a0
weighted
\u00a0
average
\u00a0
cost
\u00a0
method
\u00a0
or
\u00a0
at
\u00a0
standard
\u00a0
cost.
\u00a0
Semi-manufactures
\u00a0
are
valued
\u00a0
at
\u00a0
production
\u00a0
costs.
Work
\u00a0
in
\u00a0
progress
\u00a0
includes
\u00a0
direct
\u00a0
labor
\u00a0
and
\u00a0
material
\u00a0
costs
\u00a0
as
\u00a0
of
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
date
\u00a0
with
\u00a0
a
\u00a0
proportion
\u00a0
of
\u00a0
indirect
\u00a0
costs
\u00a0
related
\u00a0
to
\u00a0
manufacturing
\u00a0
and
\u00a0
installation
allocated
\u00a0
to
\u00a0
the
\u00a0
firm
\u00a0
customer
\u00a0
order
\u00a0
when
\u00a0
control
\u00a0
has
\u00a0
not
\u00a0
yet
\u00a0
transferred
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
Firm
\u00a0
customer
\u00a0
orders
\u00a0
are
\u00a0
mainly
\u00a0
fixed
\u00a0
price
\u00a0
contracts
\u00a0
with
\u00a0
customers
\u00a0
for
\u00a0
the
\u00a0
sale
\u00a0
of
\u00a0
new
\u00a0
equipment
\u00a0
or
\u00a0
for
the
\u00a0
modernization
\u00a0
of
\u00a0
old
\u00a0
equipment.
An
\u00a0
allowance
\u00a0
is
\u00a0
recorded
\u00a0
for
\u00a0
obsolete
\u00a0
items
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
\u00a0
estimate
\u00a0
of
\u00a0
expected
\u00a0
net
\u00a0
realizable
\u00a0
value.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_86": { "value": "
3.2
\u00a0
ACCOUNTS
\u00a0
RECEIVABLE
\u00a0
AND
\u00a0
CONTRACT
\u00a0
ASSETS
\u00a0
AND
\u00a0
LIABILITIES
Changes
\u00a0
in
\u00a0
contract
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
The
\u00a0
order
\u00a0
book
\u00a0
representing
\u00a0
the
\u00a0
unsatisfied
\u00a0
performance
\u00a0
obligations
\u00a0
with
\u00a0
respect
\u00a0
to
\u00a0
new
\u00a0
equipment
\u00a0
and
\u00a0
modernization
\u00a0
contracts
\u00a0
stood
\u00a0
at
\u00a0
EUR
\u00a0
9,026.1
\u00a0
(8,564.0)
\u00a0
million
\u00a0
as
\u00a0
at
\u00a0
Dec
\u00a0
31,
\u00a0
2022.
\u00a0
The
\u00a0
vast
majority
\u00a0
of
\u00a0
the
\u00a0
order
\u00a0
book
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
recognized
\u00a0
as
\u00a0
revenue
\u00a0
within
\u00a0
the
\u00a0
next
\u00a0
12
\u00a0
months
\u00a0
from
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
However,
\u00a0
lead-times
\u00a0
especially
\u00a0
in
\u00a0
the
\u00a0
long-term
\u00a0
major
\u00a0
projects
\u00a0
are
somewhat
\u00a0
longer
\u00a0
depending
\u00a0
on
\u00a0
the
\u00a0
size
\u00a0
and
\u00a0
complexity
\u00a0
of
\u00a0
the
\u00a0
projects.
The
\u00a0
changes
\u00a0
in
\u00a0
unbilled
\u00a0
contract
\u00a0
revenue,
\u00a0
advance
\u00a0
payments
\u00a0
received
\u00a0
and
\u00a0
deferred
\u00a0
revenue
\u00a0
follow
\u00a0
the
\u00a0
developments
\u00a0
in
\u00a0
business
\u00a0
but
\u00a0
are
\u00a0
also
\u00a0
impacted
\u00a0
by
\u00a0
the
\u00a0
normal
\u00a0
fluctuation
\u00a0
in
\u00a0
project
progress
\u00a0
when
\u00a0
applying
\u00a0
percentage
\u00a0
of
\u00a0
completion
\u00a0
method
\u00a0
for
\u00a0
recognition
\u00a0
of
\u00a0
revenue.
\u00a0
Deferred
\u00a0
income
\u00a0
on
\u00a0
maintenance
\u00a0
contracts
\u00a0
represents
\u00a0
the
\u00a0
unsatisfied
\u00a0
part
\u00a0
of
\u00a0
transaction
\u00a0
price
\u00a0
invoiced
\u00a0
for
maintenance
\u00a0
contracts.
\u00a0
Typically
\u00a0
this
\u00a0
will
\u00a0
be
\u00a0
recognized
\u00a0
as
\u00a0
revenue
\u00a0
within
\u00a0
the
\u00a0
next
\u00a0
12
\u00a0
months
\u00a0
from
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
No
\u00a0
material
\u00a0
amounts
\u00a0
of
\u00a0
revenue
\u00a0
were
\u00a0
recognized
\u00a0
during
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
due
\u00a0
to
\u00a0
changes
\u00a0
in
\u00a0
transaction
\u00a0
prices
\u00a0
or
\u00a0
changes
\u00a0
in
\u00a0
estimates
\u00a0
for
\u00a0
performance
\u00a0
obligations
\u00a0
partially
\u00a0
or
\u00a0
fully
\u00a0
satisfied
\u00a0
in
previous
\u00a0
years.
\u00a0
There
\u00a0
were
\u00a0
no
\u00a0
significant
\u00a0
impairment
\u00a0
charges
\u00a0
recognized
\u00a0
during
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
for
\u00a0
the
\u00a0
contract
\u00a0
assets.
Customer
\u00a0
credit
\u00a0
risk
\u00a0
management
Customer
\u00a0
credit
\u00a0
risks
\u00a0
relate
\u00a0
to
\u00a0
advance
\u00a0
payments
\u00a0
receivable
\u00a0
from
\u00a0
customers
\u00a0
or
\u00a0
to
\u00a0
unbilled
\u00a0
revenue
\u00a0
and
\u00a0
accounts
\u00a0
receivable
\u00a0
related
\u00a0
to
\u00a0
equipment
\u00a0
deliveries
\u00a0
or
\u00a0
to
\u00a0
services
\u00a0
rendered.
\u00a0
This
\u00a0
risk
\u00a0
is
managed
\u00a0
by
\u00a0
defining
\u00a0
the
\u00a0
rules
\u00a0
for
\u00a0
tendering,
\u00a0
payment
\u00a0
terms,
\u00a0
authorizations
\u00a0
and
\u00a0
credit
\u00a0
control
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
project
\u00a0
management
\u00a0
controls.
\u00a0
Advance
\u00a0
payments,
\u00a0
documentary
\u00a0
credits
\u00a0
and
\u00a0
guarantees
\u00a0
are
used
\u00a0
in
\u00a0
payment
\u00a0
terms
\u00a0
to
\u00a0
minimize
\u00a0
customer
\u00a0
credit
\u00a0
risks.
\u00a0
KONE
\u00a0
proactively
\u00a0
manages
\u00a0
its
\u00a0
accounts
\u00a0
receivable
\u00a0
in
\u00a0
order
\u00a0
to
\u00a0
minimize
\u00a0
the
\u00a0
risk
\u00a0
of
\u00a0
customer
\u00a0
defaults.
\u00a0
KONE\u2019s
\u00a0
customer
\u00a0
base
\u00a0
consists
\u00a0
of
\u00a0
a
large
\u00a0
number
\u00a0
of
\u00a0
customers
\u00a0
in
\u00a0
several
\u00a0
market
\u00a0
areas
\u00a0
and
\u00a0
geographic
\u00a0
split
\u00a0
of
\u00a0
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets
\u00a0
well
\u00a0
mirrors
\u00a0
distribution
\u00a0
of
\u00a0
sales.
\u00a0
During
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
KONE
\u00a0
management
\u00a0
has
followed
\u00a0
particularly
\u00a0
closely
\u00a0
the
\u00a0
credit
\u00a0
risks
\u00a0
related
\u00a0
to
\u00a0
Chinese
\u00a0
developers.
The
\u00a0
credit
\u00a0
quality
\u00a0
of
\u00a0
advance
\u00a0
payments
\u00a0
receivable
\u00a0
and
\u00a0
accounts
\u00a0
receivable
\u00a0
is
\u00a0
evaluated
\u00a0
according
\u00a0
to
\u00a0
KONE\u2019s
\u00a0
credit
\u00a0
policy.
\u00a0
According
\u00a0
to
\u00a0
this
\u00a0
policy,
\u00a0
the
\u00a0
rules
\u00a0
for
\u00a0
credit
\u00a0
quality
\u00a0
evaluation
\u00a0
are
\u00a0
set
separately
\u00a0
for
\u00a0
the
\u00a0
new
\u00a0
equipment
\u00a0
business
\u00a0
and
\u00a0
the
\u00a0
service
\u00a0
business.
\u00a0
The
\u00a0
credit
\u00a0
quality
\u00a0
is
\u00a0
evaluated
\u00a0
both
\u00a0
on
\u00a0
the
\u00a0
basis
\u00a0
of
\u00a0
the
\u00a0
aging
\u00a0
of
\u00a0
the
\u00a0
receivables
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
on
\u00a0
the
\u00a0
basis
\u00a0
of
\u00a0
individual
\u00a0
case
\u00a0
by
case
\u00a0
customer
\u00a0
analysis
\u00a0
in
\u00a0
order
\u00a0
to
\u00a0
identify
\u00a0
customers
\u00a0
with
\u00a0
a
\u00a0
potentially
\u00a0
higher
\u00a0
credit
\u00a0
risk
\u00a0
due
\u00a0
to
\u00a0
individual
\u00a0
customer
\u00a0
specific
\u00a0
reasons.
\u00a0
The
\u00a0
bad
\u00a0
debt
\u00a0
provision
\u00a0
for
\u00a0
the
\u00a0
accounts
\u00a0
receivable
\u00a0
is
recognized
\u00a0
on
\u00a0
the
\u00a0
basis
\u00a0
of
\u00a0
this
\u00a0
credit
\u00a0
quality
\u00a0
evaluation
\u00a0
using
\u00a0
the
\u00a0
expected
\u00a0
credit
\u00a0
loss
\u00a0
model.
The
\u00a0
amount
\u00a0
of
\u00a0
bad
\u00a0
debt
\u00a0
provision
\u00a0
recorded
\u00a0
to
\u00a0
cover
\u00a0
doubtful
\u00a0
accounts
\u00a0
was
\u00a0
EUR
\u00a0
310.8
\u00a0
(284.4)
\u00a0
million
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
period.
\u00a0
Increase
\u00a0
to
\u00a0
comparison
\u00a0
period
\u00a0
is
\u00a0
mainly
\u00a0
reflecting
increased
\u00a0
uncertainties
\u00a0
in
\u00a0
the
\u00a0
Chinese
\u00a0
markets.
MEUR
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Accounts
\u00a0
receivable
2,668.1
2,421.4
Accrued
\u00a0
income
\u00a0
on
\u00a0
maintenance
\u00a0
contracts
\u00a0
(note
\u00a0
3.3)
36.6
35.1
Unbilled
\u00a0
contract
\u00a0
revenue
\u00a0
(note
\u00a0
3.3)
365.1
344.6
Assets
\u00a0
related
\u00a0
to
\u00a0
contracts
\u00a0
with
\u00a0
customers
3,069.8
2,801.1
Deferred
\u00a0
income
\u00a0
on
\u00a0
maintenance
\u00a0
contracts
\u00a0
(note
\u00a0
3.4)
452.2
462.7
Advance
\u00a0
payments
\u00a0
received
\u00a0
and
\u00a0
deferred
\u00a0
revenue
1,973.8
1,957.0
Liabilities
\u00a0
related
\u00a0
to
\u00a0
contracts
\u00a0
with
\u00a0
customers
2,426.0
2,419.8
Aging
\u00a0
of
\u00a0
accounts
\u00a0
receivable
Aging
\u00a0
structure
\u00a0
of
\u00a0
the
\u00a0
accounts
\u00a0
receivable
\u00a0
after
\u00a0
recognition
\u00a0
of
\u00a0
impairment,
\u00a0
MEUR
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Not
\u00a0
past
\u00a0
due
\u00a0
and
\u00a0
less
\u00a0
than
\u00a0
one
\u00a0
month
\u00a0
due
\u00a0
receivables
2,018.3
1,923.4
Past
\u00a0
due
\u00a0
1\u20133
\u00a0
months
314.4
278.5
Past
\u00a0
due
\u00a0
3\u20136
\u00a0
months
161.1
133.1
Past
\u00a0
due
\u00a0
>
\u00a0
6
\u00a0
months
174.3
86.4
Accounts
\u00a0
receivable
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
2,668.1
2,421.4
Accounting
\u00a0
principles
Accounts
\u00a0
receivable
Accounts
\u00a0
receivable
\u00a0
are
\u00a0
recognized
\u00a0
when
\u00a0
the
\u00a0
right
\u00a0
to
\u00a0
consideration
\u00a0
becomes
\u00a0
unconditional
\u00a0
and
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
amortized
\u00a0
cost.
\u00a0
For
\u00a0
KONE\u2019s
\u00a0
new
\u00a0
equipment
\u00a0
and
\u00a0
modernization
\u00a0
contracts,
\u00a0
a
receivable
\u00a0
is
\u00a0
typically
\u00a0
recognized
\u00a0
upon
\u00a0
invoicing
\u00a0
when
\u00a0
the
\u00a0
goods
\u00a0
are
\u00a0
delivered
\u00a0
and
\u00a0
for
\u00a0
KONE
\u00a0
maintenance
\u00a0
contracts
\u00a0
upon
\u00a0
invoicing
\u00a0
according
\u00a0
to
\u00a0
customer
\u00a0
contract
\u00a0
terms
\u00a0
and
\u00a0
conditions.
KONE
\u00a0
applies
\u00a0
the
\u00a0
expected
\u00a0
credit
\u00a0
loss
\u00a0
model
\u00a0
to
\u00a0
assess
\u00a0
impairment
\u00a0
loss
\u00a0
for
\u00a0
the
\u00a0
doubtful
\u00a0
accounts
\u00a0
receivable
\u00a0
since
\u00a0
the
\u00a0
accounts
\u00a0
receivable
\u00a0
do
\u00a0
not
\u00a0
contain
\u00a0
a
\u00a0
significant
\u00a0
financing
\u00a0
component.
\u00a0
To
measure
\u00a0
the
\u00a0
lifetime
\u00a0
expected
\u00a0
credit
\u00a0
losses
\u00a0
trade
\u00a0
receivables
\u00a0
have
\u00a0
been
\u00a0
grouped
\u00a0
based
\u00a0
on
\u00a0
shared
\u00a0
credit
\u00a0
risk
\u00a0
characteristics
\u00a0
and
\u00a0
aging
\u00a0
category
\u00a0
and
\u00a0
measured
\u00a0
based
\u00a0
on
\u00a0
historical
\u00a0
loss
\u00a0
rates
adjusted
\u00a0
by
\u00a0
forward
\u00a0
looking
\u00a0
estimates
\u00a0
and
\u00a0
individual
\u00a0
assessment.
\u00a0
A
\u00a0
final
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognized
\u00a0
when
\u00a0
receivership
\u00a0
or
\u00a0
bankruptcy
\u00a0
is
\u00a0
confirmed
\u00a0
or
\u00a0
when
\u00a0
it
\u00a0
is
\u00a0
otherwise
\u00a0
obvious
\u00a0
that
\u00a0
the
customer
\u00a0
will
\u00a0
be
\u00a0
unable
\u00a0
to
\u00a0
meet
\u00a0
its
\u00a0
payment
\u00a0
obligations.
\u00a0
Changes
\u00a0
in
\u00a0
impairment
\u00a0
loss
\u00a0
for
\u00a0
doubtful
\u00a0
accounts
\u00a0
receivable
\u00a0
and
\u00a0
final
\u00a0
impairment
\u00a0
losses
\u00a0
are
\u00a0
recognized
\u00a0
under
\u00a0
cost
\u00a0
and
\u00a0
expenses
\u00a0
in
\u00a0
the
consolidated
\u00a0
statement
\u00a0
of
\u00a0
income.
Unbilled
\u00a0
contract
\u00a0
revenue
\u00a0
Unbilled
\u00a0
contract
\u00a0
revenue
\u00a0
relates
\u00a0
to
\u00a0
consideration
\u00a0
for
\u00a0
performance
\u00a0
obligations
\u00a0
satisfied
\u00a0
over
\u00a0
time
\u00a0
in
\u00a0
KONE\u2019s
\u00a0
new
\u00a0
equipment
\u00a0
and
\u00a0
modernization
\u00a0
contracts.
\u00a0
It
\u00a0
is
\u00a0
recognized
\u00a0
when
\u00a0
the
\u00a0
revenue
recognized
\u00a0
exceeds
\u00a0
the
\u00a0
amounts
\u00a0
billed
\u00a0
to
\u00a0
the
\u00a0
customer
\u00a0
and
\u00a0
receipt
\u00a0
of
\u00a0
transaction
\u00a0
price
\u00a0
is
\u00a0
considered
\u00a0
to
\u00a0
be
\u00a0
conditional
\u00a0
upon
\u00a0
factors
\u00a0
other
\u00a0
than
\u00a0
the
\u00a0
passage
\u00a0
of
\u00a0
time.
\u00a0
Unbilled
\u00a0
contract
\u00a0
revenue
\u00a0
is
valued
\u00a0
at
\u00a0
net
\u00a0
realizable
\u00a0
value
\u00a0
and
\u00a0
is
\u00a0
classified
\u00a0
as
\u00a0
contract
\u00a0
asset
\u00a0
and
\u00a0
presented
\u00a0
under
\u00a0
deferred
\u00a0
assets
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position.
An
\u00a0
impairment
\u00a0
loss
\u00a0
for
\u00a0
contract
\u00a0
assets
\u00a0
is
\u00a0
estimated
\u00a0
based
\u00a0
on
\u00a0
lifetime
\u00a0
expected
\u00a0
credit
\u00a0
loss
\u00a0
model
\u00a0
and
\u00a0
individual
\u00a0
analysis.
Deferred
\u00a0
and
\u00a0
accrued
\u00a0
income
\u00a0
on
\u00a0
maintenance
\u00a0
contracts
\u00a0
When
\u00a0
revenue
\u00a0
recognized
\u00a0
exceeds
\u00a0
the
\u00a0
amounts
\u00a0
billed
\u00a0
to
\u00a0
the
\u00a0
customer
\u00a0
an
\u00a0
accrued
\u00a0
income
\u00a0
on
\u00a0
maintenance
\u00a0
contracts
\u00a0
is
\u00a0
recognized.
\u00a0
It
\u00a0
is
\u00a0
stated
\u00a0
at
\u00a0
net
\u00a0
realizable
\u00a0
value
\u00a0
and
\u00a0
classified
\u00a0
as
\u00a0
contract
assets
\u00a0
and
\u00a0
presented
\u00a0
under
\u00a0
deferred
\u00a0
assets
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position.
\u00a0
When
\u00a0
the
\u00a0
amounts
\u00a0
billed
\u00a0
to
\u00a0
the
\u00a0
customer
\u00a0
exceed
\u00a0
the
\u00a0
recognized
\u00a0
revenue
\u00a0
deferred
\u00a0
income
\u00a0
on
maintenance
\u00a0
contracts
\u00a0
is
\u00a0
recognized.
\u00a0
These
\u00a0
balances
\u00a0
are
\u00a0
classified
\u00a0
as
\u00a0
contract
\u00a0
liabilities
\u00a0
and
\u00a0
are
\u00a0
presented
\u00a0
under
\u00a0
accruals
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position.
Advance
\u00a0
payments
\u00a0
received
\u00a0
and
\u00a0
deferred
\u00a0
revenue
\u00a0
Advance
\u00a0
payments
\u00a0
received
\u00a0
and
\u00a0
deferred
\u00a0
revenue
\u00a0
relates
\u00a0
to
\u00a0
payments
\u00a0
received
\u00a0
in
\u00a0
advance
\u00a0
of
\u00a0
performance
\u00a0
or
\u00a0
billing
\u00a0
in
\u00a0
excess
\u00a0
of
\u00a0
revenue
\u00a0
recognized
\u00a0
under
\u00a0
KONE\u2019s
\u00a0
new
\u00a0
equipment
\u00a0
and
modernization
\u00a0
contracts.
\u00a0
Advance
\u00a0
payments
\u00a0
received
\u00a0
and
\u00a0
deferred
\u00a0
revenue
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
revenue
\u00a0
as
\u00a0
(or
\u00a0
when)
\u00a0
KONE
\u00a0
performs
\u00a0
under
\u00a0
the
\u00a0
contracts
\u00a0
and
\u00a0
are
\u00a0
classified
\u00a0
as
\u00a0
contract
\u00a0
liabilities.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_19": { "value": "
3.2
\u00a0
ACCOUNTS
\u00a0
RECEIVABLE
\u00a0
AND
\u00a0
CONTRACT
\u00a0
ASSETS
\u00a0
AND
\u00a0
LIABILITIES
Changes
\u00a0
in
\u00a0
contract
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
The
\u00a0
order
\u00a0
book
\u00a0
representing
\u00a0
the
\u00a0
unsatisfied
\u00a0
performance
\u00a0
obligations
\u00a0
with
\u00a0
respect
\u00a0
to
\u00a0
new
\u00a0
equipment
\u00a0
and
\u00a0
modernization
\u00a0
contracts
\u00a0
stood
\u00a0
at
\u00a0
EUR
\u00a0
9,026.1
\u00a0
(8,564.0)
\u00a0
million
\u00a0
as
\u00a0
at
\u00a0
Dec
\u00a0
31,
\u00a0
2022.
\u00a0
The
\u00a0
vast
majority
\u00a0
of
\u00a0
the
\u00a0
order
\u00a0
book
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
recognized
\u00a0
as
\u00a0
revenue
\u00a0
within
\u00a0
the
\u00a0
next
\u00a0
12
\u00a0
months
\u00a0
from
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
However,
\u00a0
lead-times
\u00a0
especially
\u00a0
in
\u00a0
the
\u00a0
long-term
\u00a0
major
\u00a0
projects
\u00a0
are
somewhat
\u00a0
longer
\u00a0
depending
\u00a0
on
\u00a0
the
\u00a0
size
\u00a0
and
\u00a0
complexity
\u00a0
of
\u00a0
the
\u00a0
projects.
The
\u00a0
changes
\u00a0
in
\u00a0
unbilled
\u00a0
contract
\u00a0
revenue,
\u00a0
advance
\u00a0
payments
\u00a0
received
\u00a0
and
\u00a0
deferred
\u00a0
revenue
\u00a0
follow
\u00a0
the
\u00a0
developments
\u00a0
in
\u00a0
business
\u00a0
but
\u00a0
are
\u00a0
also
\u00a0
impacted
\u00a0
by
\u00a0
the
\u00a0
normal
\u00a0
fluctuation
\u00a0
in
\u00a0
project
progress
\u00a0
when
\u00a0
applying
\u00a0
percentage
\u00a0
of
\u00a0
completion
\u00a0
method
\u00a0
for
\u00a0
recognition
\u00a0
of
\u00a0
revenue.
\u00a0
Deferred
\u00a0
income
\u00a0
on
\u00a0
maintenance
\u00a0
contracts
\u00a0
represents
\u00a0
the
\u00a0
unsatisfied
\u00a0
part
\u00a0
of
\u00a0
transaction
\u00a0
price
\u00a0
invoiced
\u00a0
for
maintenance
\u00a0
contracts.
\u00a0
Typically
\u00a0
this
\u00a0
will
\u00a0
be
\u00a0
recognized
\u00a0
as
\u00a0
revenue
\u00a0
within
\u00a0
the
\u00a0
next
\u00a0
12
\u00a0
months
\u00a0
from
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
No
\u00a0
material
\u00a0
amounts
\u00a0
of
\u00a0
revenue
\u00a0
were
\u00a0
recognized
\u00a0
during
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
due
\u00a0
to
\u00a0
changes
\u00a0
in
\u00a0
transaction
\u00a0
prices
\u00a0
or
\u00a0
changes
\u00a0
in
\u00a0
estimates
\u00a0
for
\u00a0
performance
\u00a0
obligations
\u00a0
partially
\u00a0
or
\u00a0
fully
\u00a0
satisfied
\u00a0
in
previous
\u00a0
years.
\u00a0
There
\u00a0
were
\u00a0
no
\u00a0
significant
\u00a0
impairment
\u00a0
charges
\u00a0
recognized
\u00a0
during
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
for
\u00a0
the
\u00a0
contract
\u00a0
assets.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_20": { "value": "
Customer
\u00a0
credit
\u00a0
risk
\u00a0
management
Customer
\u00a0
credit
\u00a0
risks
\u00a0
relate
\u00a0
to
\u00a0
advance
\u00a0
payments
\u00a0
receivable
\u00a0
from
\u00a0
customers
\u00a0
or
\u00a0
to
\u00a0
unbilled
\u00a0
revenue
\u00a0
and
\u00a0
accounts
\u00a0
receivable
\u00a0
related
\u00a0
to
\u00a0
equipment
\u00a0
deliveries
\u00a0
or
\u00a0
to
\u00a0
services
\u00a0
rendered.
\u00a0
This
\u00a0
risk
\u00a0
is
managed
\u00a0
by
\u00a0
defining
\u00a0
the
\u00a0
rules
\u00a0
for
\u00a0
tendering,
\u00a0
payment
\u00a0
terms,
\u00a0
authorizations
\u00a0
and
\u00a0
credit
\u00a0
control
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
project
\u00a0
management
\u00a0
controls.
\u00a0
Advance
\u00a0
payments,
\u00a0
documentary
\u00a0
credits
\u00a0
and
\u00a0
guarantees
\u00a0
are
used
\u00a0
in
\u00a0
payment
\u00a0
terms
\u00a0
to
\u00a0
minimize
\u00a0
customer
\u00a0
credit
\u00a0
risks.
\u00a0
KONE
\u00a0
proactively
\u00a0
manages
\u00a0
its
\u00a0
accounts
\u00a0
receivable
\u00a0
in
\u00a0
order
\u00a0
to
\u00a0
minimize
\u00a0
the
\u00a0
risk
\u00a0
of
\u00a0
customer
\u00a0
defaults.
\u00a0
KONE\u2019s
\u00a0
customer
\u00a0
base
\u00a0
consists
\u00a0
of
\u00a0
a
large
\u00a0
number
\u00a0
of
\u00a0
customers
\u00a0
in
\u00a0
several
\u00a0
market
\u00a0
areas
\u00a0
and
\u00a0
geographic
\u00a0
split
\u00a0
of
\u00a0
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets
\u00a0
well
\u00a0
mirrors
\u00a0
distribution
\u00a0
of
\u00a0
sales.
\u00a0
During
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
KONE
\u00a0
management
\u00a0
has
followed
\u00a0
particularly
\u00a0
closely
\u00a0
the
\u00a0
credit
\u00a0
risks
\u00a0
related
\u00a0
to
\u00a0
Chinese
\u00a0
developers.
The
\u00a0
credit
\u00a0
quality
\u00a0
of
\u00a0
advance
\u00a0
payments
\u00a0
receivable
\u00a0
and
\u00a0
accounts
\u00a0
receivable
\u00a0
is
\u00a0
evaluated
\u00a0
according
\u00a0
to
\u00a0
KONE\u2019s
\u00a0
credit
\u00a0
policy.
\u00a0
According
\u00a0
to
\u00a0
this
\u00a0
policy,
\u00a0
the
\u00a0
rules
\u00a0
for
\u00a0
credit
\u00a0
quality
\u00a0
evaluation
\u00a0
are
\u00a0
set
separately
\u00a0
for
\u00a0
the
\u00a0
new
\u00a0
equipment
\u00a0
business
\u00a0
and
\u00a0
the
\u00a0
service
\u00a0
business.
\u00a0
The
\u00a0
credit
\u00a0
quality
\u00a0
is
\u00a0
evaluated
\u00a0
both
\u00a0
on
\u00a0
the
\u00a0
basis
\u00a0
of
\u00a0
the
\u00a0
aging
\u00a0
of
\u00a0
the
\u00a0
receivables
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
on
\u00a0
the
\u00a0
basis
\u00a0
of
\u00a0
individual
\u00a0
case
\u00a0
by
case
\u00a0
customer
\u00a0
analysis
\u00a0
in
\u00a0
order
\u00a0
to
\u00a0
identify
\u00a0
customers
\u00a0
with
\u00a0
a
\u00a0
potentially
\u00a0
higher
\u00a0
credit
\u00a0
risk
\u00a0
due
\u00a0
to
\u00a0
individual
\u00a0
customer
\u00a0
specific
\u00a0
reasons.
\u00a0
The
\u00a0
bad
\u00a0
debt
\u00a0
provision
\u00a0
for
\u00a0
the
\u00a0
accounts
\u00a0
receivable
\u00a0
is
recognized
\u00a0
on
\u00a0
the
\u00a0
basis
\u00a0
of
\u00a0
this
\u00a0
credit
\u00a0
quality
\u00a0
evaluation
\u00a0
using
\u00a0
the
\u00a0
expected
\u00a0
credit
\u00a0
loss
\u00a0
model.
The
\u00a0
amount
\u00a0
of
\u00a0
bad
\u00a0
debt
\u00a0
provision
\u00a0
recorded
\u00a0
to
\u00a0
cover
\u00a0
doubtful
\u00a0
accounts
\u00a0
was
\u00a0
EUR
\u00a0
310.8
\u00a0
(284.4)
\u00a0
million
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
period.
\u00a0
Increase
\u00a0
to
\u00a0
comparison
\u00a0
period
\u00a0
is
\u00a0
mainly
\u00a0
reflecting
increased
\u00a0
uncertainties
\u00a0
in
\u00a0
the
\u00a0
Chinese
\u00a0
markets.
Aging
\u00a0
of
\u00a0
accounts
\u00a0
receivable
Aging
\u00a0
structure
\u00a0
of
\u00a0
the
\u00a0
accounts
\u00a0
receivable
\u00a0
after
\u00a0
recognition
\u00a0
of
\u00a0
impairment,
\u00a0
MEUR
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Not
\u00a0
past
\u00a0
due
\u00a0
and
\u00a0
less
\u00a0
than
\u00a0
one
\u00a0
month
\u00a0
due
\u00a0
receivables
2,018.3
1,923.4
Past
\u00a0
due
\u00a0
1\u20133
\u00a0
months
314.4
278.5
Past
\u00a0
due
\u00a0
3\u20136
\u00a0
months
161.1
133.1
Past
\u00a0
due
\u00a0
>
\u00a0
6
\u00a0
months
174.3
86.4
Accounts
\u00a0
receivable
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
2,668.1
2,421.4
Financial
\u00a0
credit
\u00a0
risk
KONE
\u00a0
has
\u00a0
substantial
\u00a0
amounts
\u00a0
of
\u00a0
cash
\u00a0
and
\u00a0
financial
\u00a0
investments.
\u00a0
In
\u00a0
order
\u00a0
to
\u00a0
diversify
\u00a0
the
\u00a0
financial
\u00a0
credit
\u00a0
risk
\u00a0
and
\u00a0
manage
\u00a0
liquidity
\u00a0
risk,
\u00a0
funds
\u00a0
are
\u00a0
invested
\u00a0
into
\u00a0
highly
\u00a0
liquid
\u00a0
interest
\u00a0
rate
\u00a0
funds
\u00a0
and
deposits
\u00a0
with
\u00a0
several
\u00a0
banks.
\u00a0
Global
\u00a0
counterparty
\u00a0
limits
\u00a0
are
\u00a0
approved
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors.
\u00a0
All
\u00a0
open
\u00a0
exposures
\u00a0
such
\u00a0
as
\u00a0
cash
\u00a0
on
\u00a0
bank
\u00a0
accounts,
\u00a0
investments,
\u00a0
deposits
\u00a0
and
\u00a0
other
\u00a0
financial
\u00a0
assets,
for
\u00a0
example
\u00a0
derivatives
\u00a0
contracts,
\u00a0
are
\u00a0
included
\u00a0
when
\u00a0
measuring
\u00a0
the
\u00a0
financial
\u00a0
credit
\u00a0
risk
\u00a0
exposure.
\u00a0
When
\u00a0
selecting
\u00a0
counterparty
\u00a0
banks
\u00a0
and
\u00a0
other
\u00a0
investment
\u00a0
targets,
\u00a0
only
\u00a0
counterparties
\u00a0
with
\u00a0
high
creditworthiness
\u00a0
are
\u00a0
approved.
\u00a0
The
\u00a0
size
\u00a0
of
\u00a0
each
\u00a0
limit
\u00a0
reflects
\u00a0
the
\u00a0
creditworthiness
\u00a0
of
\u00a0
the
\u00a0
counterparty.
\u00a0
Counterparty
\u00a0
creditworthiness
\u00a0
is
\u00a0
evaluated
\u00a0
constantly
\u00a0
and
\u00a0
the
\u00a0
required
\u00a0
actions
\u00a0
are
\u00a0
considered
case
\u00a0
by
\u00a0
case
\u00a0
if
\u00a0
significant
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
creditworthiness
\u00a0
of
\u00a0
a
\u00a0
counterparty
\u00a0
occur.
\u00a0
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
interest
\u00a0
rate
\u00a0
funds
\u00a0
are
\u00a0
measured
\u00a0
based
\u00a0
on
\u00a0
market
\u00a0
information
\u00a0
(fair
\u00a0
value
\u00a0
hierarchy
\u00a0
level
\u00a0
2).
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_21": { "value": "
3.3
\u00a0
DEFERRED
\u00a0
ASSETS
Deferred
\u00a0
assets,
\u00a0
MEUR
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Deferred
\u00a0
interests
3.0
2.7
Accrued
\u00a0
income
\u00a0
on
\u00a0
maintenance
\u00a0
contracts
\u00a0
(note
\u00a0
3.2)
36.6
35.1
Unbilled
\u00a0
contract
\u00a0
revenue
\u00a0
(note
\u00a0
3.2)
365.1
344.6
Derivative
\u00a0
assets
\u00a0
(note
\u00a0
5.3)
27.2
88.4
Value
\u00a0
added
\u00a0
tax
\u00a0
assets
84.9
129.6
Prepaid
\u00a0
expenses
\u00a0
and
\u00a0
other
\u00a0
receivables
192.5
180.5
Total
709.3
780.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_22": { "value": "
3.4
\u00a0
ACCRUALS
Accruals,
\u00a0
MEUR
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Accrued
\u00a0
interests
1.0
2.2
Deferred
\u00a0
income
\u00a0
on
\u00a0
maintenance
\u00a0
contracts
\u00a0
(note
\u00a0
3.2)
452.2
462.7
Late
\u00a0
cost
\u00a0
accruals
\u00a0
\u00b9
\u207e
302.3
342.7
Accrued
\u00a0
salaries,
\u00a0
wages
\u00a0
and
\u00a0
employment
\u00a0
costs
570.0
551.0
Share-based
\u00a0
payments
9.9
22.5
Derivative
\u00a0
liabilities
\u00a0
(note
\u00a0
5.3)
32.6
42.3
Value
\u00a0
added
\u00a0
tax
\u00a0
liabilities
86.1
122.6
Accruals
\u00a0
on
\u00a0
acquisitions
17.0
21.2
Other
\u00a0
accruals
581.2
570.0
Total
2,052.2
2,137.4
\u00b9
\u207e
Includes
\u00a0
accrual
\u00a0
for
\u00a0
invoicing
\u00a0
still
\u00a0
pending
\u00a0
to
\u00a0
be
\u00a0
received
\u00a0
on
\u00a0
completed
\u00a0
new
\u00a0
equipment
\u00a0
and
\u00a0
modernization
\u00a0
contracts.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_23": { "value": "
Accounting
\u00a0
principles
\u00a0
Provisions
Provisions
\u00a0
are
\u00a0
recognized
\u00a0
when
\u00a0
KONE
\u00a0
has
\u00a0
a
\u00a0
current
\u00a0
legal
\u00a0
or
\u00a0
constructive
\u00a0
obligation
\u00a0
as
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
past
\u00a0
event,
\u00a0
and
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
an
\u00a0
outflow
\u00a0
of
\u00a0
resources
\u00a0
will
\u00a0
be
\u00a0
required
\u00a0
to
\u00a0
settle
\u00a0
the
\u00a0
obligation
and
\u00a0
a
\u00a0
reliable
\u00a0
estimate
\u00a0
of
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
obligation
\u00a0
can
\u00a0
be
\u00a0
made.
\u00a0
Recognition
\u00a0
and
\u00a0
measurement
\u00a0
of
\u00a0
a
\u00a0
provision
\u00a0
generally
\u00a0
employs
\u00a0
managerial
\u00a0
estimates
\u00a0
on
\u00a0
the
\u00a0
probability
\u00a0
and
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
the
liability.
Provisions
\u00a0
for
\u00a0
warranties
\u00a0
cover
\u00a0
the
\u00a0
estimated
\u00a0
liability
\u00a0
to
\u00a0
repair
\u00a0
or
\u00a0
replace
\u00a0
products
\u00a0
still
\u00a0
under
\u00a0
warranty
\u00a0
at
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
date.
\u00a0
This
\u00a0
provision
\u00a0
is
\u00a0
calculated
\u00a0
based
\u00a0
on
\u00a0
historical
exper
\u00a0
ience
\u00a0
of
\u00a0
levels
\u00a0
of
\u00a0
repairs
\u00a0
and
\u00a0
replacements.
Provision
\u00a0
for
\u00a0
claims
\u00a0
is
\u00a0
recognized
\u00a0
when
\u00a0
the
\u00a0
claim
\u00a0
has
\u00a0
been
\u00a0
received
\u00a0
and
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
it
\u00a0
will
\u00a0
be
\u00a0
settled
\u00a0
and
\u00a0
the
\u00a0
settlement
\u00a0
amount
\u00a0
can
\u00a0
be
\u00a0
estimated
\u00a0
reliably.
A
\u00a0
provision
\u00a0
for
\u00a0
business
\u00a0
restructuring
\u00a0
is
\u00a0
recognized
\u00a0
only
\u00a0
when
\u00a0
a
\u00a0
detailed
\u00a0
and
\u00a0
formal
\u00a0
plan
\u00a0
has
\u00a0
been
\u00a0
established,
\u00a0
there
\u00a0
is
\u00a0
a
\u00a0
valid
\u00a0
expectation
\u00a0
that
\u00a0
such
\u00a0
a
\u00a0
plan
\u00a0
will
\u00a0
be
\u00a0
carried
\u00a0
out
\u00a0
and
\u00a0
the
\u00a0
plan
\u00a0
has
been
\u00a0
communicated.
Provisions
\u00a0
for
\u00a0
onerous
\u00a0
(loss)
\u00a0
contracts
\u00a0
are
\u00a0
recognized
\u00a0
when
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
the
\u00a0
costs
\u00a0
will
\u00a0
exceed
\u00a0
the
\u00a0
estimated
\u00a0
total
\u00a0
revenue
\u00a0
or
\u00a0
other
\u00a0
income
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
contract.
\u00a0
The
\u00a0
probable
\u00a0
loss
\u00a0
is
recognized
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
immediately.
Other
\u00a0
provisions
\u00a0
include
\u00a0
for
\u00a0
example
\u00a0
provisions
\u00a0
for
\u00a0
contractual
\u00a0
and
\u00a0
other
\u00a0
obligations
\u00a0
arising
\u00a0
from
\u00a0
disputes,
\u00a0
labor
\u00a0
relations
\u00a0
or
\u00a0
other
\u00a0
regulatory
\u00a0
matters.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_95": { "value": "
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021,
\u00a0
MEUR
Provision
\u00a0
for
\u00a0
warranty
Provision
for
\u00a0
claims
Provision
\u00a0
for
business
restructuring
Provision
\u00a0
for
\u00a0
loss
\u00a0
contracts
Other
\u00a0
provisions
Total
Total
\u00a0
provisions
\u00a0
at
\u00a0
beginning
\u00a0
of
\u00a0
period
67.4
6.3
18.1
28.3
34.5
154.7
Translation
\u00a0
differences
2.8
0.0
0.3
1.3
0.3
4.7
Increase
15.0
5.7
14.3
17.4
20.6
73.0
Provisions
\u00a0
used
-21.7
-1.1
-10.5
-10.7
-3.5
-47.7
Reversal
\u00a0
of
\u00a0
provisions
-4.6
-3.5
-6.2
-5.2
-14.3
-33.8
Companies
\u00a0
acquired
0.1
-
-
0.4
0.9
1.4
Total
\u00a0
provisions
\u00a0
at
\u00a0
end
\u00a0
of
\u00a0
period
58.8
7.4
16.0
31.4
38.6
152.3
Non-current
\u00a0
liabilities
Current
\u00a0
liabilities
Total
Distribution
\u00a0
of
\u00a0
provisions
\u00a0
as
\u00a0
of
\u00a0
Dec
\u00a0
31,
\u00a0
2021
101.4
50.9
152.3
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022,
\u00a0
MEUR
Provision
\u00a0
for
\u00a0
warranty
Provision
for
\u00a0
claims
Provision
\u00a0
for
business
restructuring
Provision
\u00a0
for
\u00a0
loss
\u00a0
contracts
Other
\u00a0
provisions
Total
Total
\u00a0
provisions
\u00a0
at
\u00a0
beginning
\u00a0
of
\u00a0
period
58.8
7.4
16.0
31.4
38.6
152.3
Translation
\u00a0
differences
-0.6
0.0
0.2
-0.3
0.1
-0.7
Increase
19.9
4.2
10.9
32.7
38.0
105.7
Provisions
\u00a0
used
-11.8
-1.3
-10.7
-13.9
-8.5
-46.1
Reversal
\u00a0
of
\u00a0
provisions
-1.5
-2.0
-1.5
-3.7
-25.8
-34.4
Companies
\u00a0
acquired
-
-
-
-
0.6
0.6
Total
\u00a0
provisions
\u00a0
at
\u00a0
end
\u00a0
of
\u00a0
period
64.8
8.4
14.9
46.2
43.0
177.4
Non-current
\u00a0
liabilities
Current
\u00a0
liabilities
Total
Distribution
\u00a0
of
\u00a0
provisions
\u00a0
as
\u00a0
of
\u00a0
Dec
\u00a0
31,
\u00a0
2022
44.8
132.6
177.4
3.5
\u00a0
PROVISIONS
Accounting
\u00a0
principles
\u00a0
Provisions
Provisions
\u00a0
are
\u00a0
recognized
\u00a0
when
\u00a0
KONE
\u00a0
has
\u00a0
a
\u00a0
current
\u00a0
legal
\u00a0
or
\u00a0
constructive
\u00a0
obligation
\u00a0
as
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
past
\u00a0
event,
\u00a0
and
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
an
\u00a0
outflow
\u00a0
of
\u00a0
resources
\u00a0
will
\u00a0
be
\u00a0
required
\u00a0
to
\u00a0
settle
\u00a0
the
\u00a0
obligation
and
\u00a0
a
\u00a0
reliable
\u00a0
estimate
\u00a0
of
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
obligation
\u00a0
can
\u00a0
be
\u00a0
made.
\u00a0
Recognition
\u00a0
and
\u00a0
measurement
\u00a0
of
\u00a0
a
\u00a0
provision
\u00a0
generally
\u00a0
employs
\u00a0
managerial
\u00a0
estimates
\u00a0
on
\u00a0
the
\u00a0
probability
\u00a0
and
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
the
liability.
Provisions
\u00a0
for
\u00a0
warranties
\u00a0
cover
\u00a0
the
\u00a0
estimated
\u00a0
liability
\u00a0
to
\u00a0
repair
\u00a0
or
\u00a0
replace
\u00a0
products
\u00a0
still
\u00a0
under
\u00a0
warranty
\u00a0
at
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
date.
\u00a0
This
\u00a0
provision
\u00a0
is
\u00a0
calculated
\u00a0
based
\u00a0
on
\u00a0
historical
exper
\u00a0
ience
\u00a0
of
\u00a0
levels
\u00a0
of
\u00a0
repairs
\u00a0
and
\u00a0
replacements.
Provision
\u00a0
for
\u00a0
claims
\u00a0
is
\u00a0
recognized
\u00a0
when
\u00a0
the
\u00a0
claim
\u00a0
has
\u00a0
been
\u00a0
received
\u00a0
and
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
it
\u00a0
will
\u00a0
be
\u00a0
settled
\u00a0
and
\u00a0
the
\u00a0
settlement
\u00a0
amount
\u00a0
can
\u00a0
be
\u00a0
estimated
\u00a0
reliably.
A
\u00a0
provision
\u00a0
for
\u00a0
business
\u00a0
restructuring
\u00a0
is
\u00a0
recognized
\u00a0
only
\u00a0
when
\u00a0
a
\u00a0
detailed
\u00a0
and
\u00a0
formal
\u00a0
plan
\u00a0
has
\u00a0
been
\u00a0
established,
\u00a0
there
\u00a0
is
\u00a0
a
\u00a0
valid
\u00a0
expectation
\u00a0
that
\u00a0
such
\u00a0
a
\u00a0
plan
\u00a0
will
\u00a0
be
\u00a0
carried
\u00a0
out
\u00a0
and
\u00a0
the
\u00a0
plan
\u00a0
has
been
\u00a0
communicated.
Provisions
\u00a0
for
\u00a0
onerous
\u00a0
(loss)
\u00a0
contracts
\u00a0
are
\u00a0
recognized
\u00a0
when
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
the
\u00a0
costs
\u00a0
will
\u00a0
exceed
\u00a0
the
\u00a0
estimated
\u00a0
total
\u00a0
revenue
\u00a0
or
\u00a0
other
\u00a0
income
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
contract.
\u00a0
The
\u00a0
probable
\u00a0
loss
\u00a0
is
recognized
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
immediately.
Other
\u00a0
provisions
\u00a0
include
\u00a0
for
\u00a0
example
\u00a0
provisions
\u00a0
for
\u00a0
contractual
\u00a0
and
\u00a0
other
\u00a0
obligations
\u00a0
arising
\u00a0
from
\u00a0
disputes,
\u00a0
labor
\u00a0
relations
\u00a0
or
\u00a0
other
\u00a0
regulatory
\u00a0
matters.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_98": { "value": "
Accounting
\u00a0
principles
\u00a0
Deferred
\u00a0
taxes
Deferred
\u00a0
taxes
\u00a0
are
\u00a0
provided
\u00a0
for
\u00a0
temporary
\u00a0
differences
\u00a0
arising
\u00a0
between
\u00a0
the
\u00a0
tax
\u00a0
bases
\u00a0
of
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
and
\u00a0
their
\u00a0
carrying
\u00a0
amounts
\u00a0
in
\u00a0
financial
\u00a0
reporting,
\u00a0
and
\u00a0
measured
\u00a0
with
\u00a0
enacted
\u00a0
tax
\u00a0
rates.
Typical
\u00a0
temporary
\u00a0
differences
\u00a0
arise
\u00a0
from
\u00a0
revenue
\u00a0
recognition,
\u00a0
provisions,
\u00a0
depreciation
\u00a0
and
\u00a0
amortization,
\u00a0
inter-company
\u00a0
inventory
\u00a0
margins,
\u00a0
defined
\u00a0
benefit
\u00a0
type
\u00a0
post
\u00a0
retirement
\u00a0
plans,
\u00a0
lease
\u00a0
contracts
and
\u00a0
tax
\u00a0
losses
\u00a0
carried
\u00a0
forward.
\u00a0
Deferred
\u00a0
tax
\u00a0
assets
\u00a0
on
\u00a0
unused
\u00a0
tax
\u00a0
losses
\u00a0
and
\u00a0
other
\u00a0
temporary
\u00a0
differences
\u00a0
are
\u00a0
recognized
\u00a0
to
\u00a0
the
\u00a0
extent
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
taxable
\u00a0
profit
\u00a0
is
\u00a0
available
\u00a0
to
\u00a0
take
\u00a0
advantage
of
\u00a0
the
\u00a0
asset
\u00a0
in
\u00a0
the
\u00a0
future.
\u00a0
A
\u00a0
deferred
\u00a0
tax
\u00a0
liability
\u00a0
is
\u00a0
recognized
\u00a0
on
\u00a0
the
\u00a0
undistributed
\u00a0
profits
\u00a0
of
\u00a0
subsidiaries
\u00a0
where
\u00a0
such
\u00a0
tax
\u00a0
is
\u00a0
applicable
\u00a0
and
\u00a0
it
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
realize
\u00a0
in
\u00a0
the
\u00a0
foreseeable
\u00a0
future.
\u00a0
Deferred
\u00a0
tax
\u00a0
assets
\u00a0
and
liabilities
\u00a0
are
\u00a0
offset
\u00a0
for
\u00a0
presentation
\u00a0
purposes
\u00a0
when
\u00a0
there
\u00a0
is
\u00a0
a
\u00a0
legally
\u00a0
enforceable
\u00a0
right
\u00a0
to
\u00a0
offset
\u00a0
income
\u00a0
tax
\u00a0
receivables
\u00a0
against
\u00a0
income
\u00a0
tax
\u00a0
payables
\u00a0
and
\u00a0
when
\u00a0
the
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
and
\u00a0
liabilities
relate
\u00a0
to
\u00a0
income
\u00a0
taxes
\u00a0
levied
\u00a0
by
\u00a0
the
\u00a0
same
\u00a0
taxation
\u00a0
authority.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_97": { "value": "
Accounting
\u00a0
principles
\u00a0
Deferred
\u00a0
taxes
Deferred
\u00a0
taxes
\u00a0
are
\u00a0
provided
\u00a0
for
\u00a0
temporary
\u00a0
differences
\u00a0
arising
\u00a0
between
\u00a0
the
\u00a0
tax
\u00a0
bases
\u00a0
of
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
and
\u00a0
their
\u00a0
carrying
\u00a0
amounts
\u00a0
in
\u00a0
financial
\u00a0
reporting,
\u00a0
and
\u00a0
measured
\u00a0
with
\u00a0
enacted
\u00a0
tax
\u00a0
rates.
Typical
\u00a0
temporary
\u00a0
differences
\u00a0
arise
\u00a0
from
\u00a0
revenue
\u00a0
recognition,
\u00a0
provisions,
\u00a0
depreciation
\u00a0
and
\u00a0
amortization,
\u00a0
inter-company
\u00a0
inventory
\u00a0
margins,
\u00a0
defined
\u00a0
benefit
\u00a0
type
\u00a0
post
\u00a0
retirement
\u00a0
plans,
\u00a0
lease
\u00a0
contracts
and
\u00a0
tax
\u00a0
losses
\u00a0
carried
\u00a0
forward.
\u00a0
Deferred
\u00a0
tax
\u00a0
assets
\u00a0
on
\u00a0
unused
\u00a0
tax
\u00a0
losses
\u00a0
and
\u00a0
other
\u00a0
temporary
\u00a0
differences
\u00a0
are
\u00a0
recognized
\u00a0
to
\u00a0
the
\u00a0
extent
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
taxable
\u00a0
profit
\u00a0
is
\u00a0
available
\u00a0
to
\u00a0
take
\u00a0
advantage
of
\u00a0
the
\u00a0
asset
\u00a0
in
\u00a0
the
\u00a0
future.
\u00a0
A
\u00a0
deferred
\u00a0
tax
\u00a0
liability
\u00a0
is
\u00a0
recognized
\u00a0
on
\u00a0
the
\u00a0
undistributed
\u00a0
profits
\u00a0
of
\u00a0
subsidiaries
\u00a0
where
\u00a0
such
\u00a0
tax
\u00a0
is
\u00a0
applicable
\u00a0
and
\u00a0
it
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
realize
\u00a0
in
\u00a0
the
\u00a0
foreseeable
\u00a0
future.
\u00a0
Deferred
\u00a0
tax
\u00a0
assets
\u00a0
and
liabilities
\u00a0
are
\u00a0
offset
\u00a0
for
\u00a0
presentation
\u00a0
purposes
\u00a0
when
\u00a0
there
\u00a0
is
\u00a0
a
\u00a0
legally
\u00a0
enforceable
\u00a0
right
\u00a0
to
\u00a0
offset
\u00a0
income
\u00a0
tax
\u00a0
receivables
\u00a0
against
\u00a0
income
\u00a0
tax
\u00a0
payables
\u00a0
and
\u00a0
when
\u00a0
the
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
and
\u00a0
liabilities
relate
\u00a0
to
\u00a0
income
\u00a0
taxes
\u00a0
levied
\u00a0
by
\u00a0
the
\u00a0
same
\u00a0
taxation
\u00a0
authority.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_96": { "value": "
Deferred
\u00a0
tax
\u00a0
assets,
\u00a0
MEUR
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Dec
\u00a0
31,
\u00a0
2020
Tax
\u00a0
losses
\u00a0
carried
\u00a0
forward
1.1
1.7
2.0
Provisions
\u00a0
and
\u00a0
accruals
270.2
267.8
236.7
Post
\u00a0
retirement
\u00a0
obligations
15.9
28.6
21.7
Inventory
23.9
23.5
24.5
Property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
13.2
16.0
14.7
Other
\u00a0
temporary
\u00a0
differences
90.0
42.8
42.6
Offset
\u00a0
against
\u00a0
deferred
\u00a0
tax
\u00a0
liabilities
-106.7
-111.3
-99.8
Total
307.5
269.1
242.4
Total
\u00a0
at
\u00a0
beginning
\u00a0
of
\u00a0
period
269.1
242.4
Translation
\u00a0
differences
-4.4
21.1
Change
\u00a0
in
\u00a0
statement
\u00a0
of
\u00a0
income
25.9
11.5
Charged
\u00a0
or
\u00a0
credited
\u00a0
to
\u00a0
equity
16.9
-5.9
Acquisitions,
\u00a0
divestments
\u00a0
and
\u00a0
other
0.1
0.1
Total
\u00a0
at
\u00a0
end
\u00a0
of
\u00a0
period
307.5
269.1
.
Deferred
\u00a0
tax
\u00a0
liabilities,
\u00a0
MEUR
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Dec
\u00a0
31,
\u00a0
2020
Property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
21.5
29.3
29.0
Goodwill
\u00a0
and
\u00a0
intangible
\u00a0
assets
85.3
72.2
72.0
Other
\u00a0
temporary
\u00a0
differences
84.7
96.7
89.3
Offset
\u00a0
against
\u00a0
deferred
\u00a0
tax
\u00a0
assets
-106.7
-111.3
-99.8
Total
84.8
86.9
90.4
Total
\u00a0
at
\u00a0
beginning
\u00a0
of
\u00a0
period
86.9
90.4
Translation
\u00a0
difference
2.5
0.6
Change
\u00a0
in
\u00a0
statement
\u00a0
of
\u00a0
income
-7.9
-6.1
Acquisitions,
\u00a0
divestments
\u00a0
and
\u00a0
other
3.3
2.0
Total
\u00a0
at
\u00a0
end
\u00a0
of
\u00a0
period
84.8
86.9
Net
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
and
\u00a0
liabilities
222.7
182.2
.
3.6
\u00a0
DEFERRED
\u00a0
TAX
\u00a0
ASSETS
\u00a0
AND
\u00a0
LIABILITIES
Accounting
\u00a0
principles
\u00a0
Deferred
\u00a0
taxes
Deferred
\u00a0
taxes
\u00a0
are
\u00a0
provided
\u00a0
for
\u00a0
temporary
\u00a0
differences
\u00a0
arising
\u00a0
between
\u00a0
the
\u00a0
tax
\u00a0
bases
\u00a0
of
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
and
\u00a0
their
\u00a0
carrying
\u00a0
amounts
\u00a0
in
\u00a0
financial
\u00a0
reporting,
\u00a0
and
\u00a0
measured
\u00a0
with
\u00a0
enacted
\u00a0
tax
\u00a0
rates.
Typical
\u00a0
temporary
\u00a0
differences
\u00a0
arise
\u00a0
from
\u00a0
revenue
\u00a0
recognition,
\u00a0
provisions,
\u00a0
depreciation
\u00a0
and
\u00a0
amortization,
\u00a0
inter-company
\u00a0
inventory
\u00a0
margins,
\u00a0
defined
\u00a0
benefit
\u00a0
type
\u00a0
post
\u00a0
retirement
\u00a0
plans,
\u00a0
lease
\u00a0
contracts
and
\u00a0
tax
\u00a0
losses
\u00a0
carried
\u00a0
forward.
\u00a0
Deferred
\u00a0
tax
\u00a0
assets
\u00a0
on
\u00a0
unused
\u00a0
tax
\u00a0
losses
\u00a0
and
\u00a0
other
\u00a0
temporary
\u00a0
differences
\u00a0
are
\u00a0
recognized
\u00a0
to
\u00a0
the
\u00a0
extent
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
taxable
\u00a0
profit
\u00a0
is
\u00a0
available
\u00a0
to
\u00a0
take
\u00a0
advantage
of
\u00a0
the
\u00a0
asset
\u00a0
in
\u00a0
the
\u00a0
future.
\u00a0
A
\u00a0
deferred
\u00a0
tax
\u00a0
liability
\u00a0
is
\u00a0
recognized
\u00a0
on
\u00a0
the
\u00a0
undistributed
\u00a0
profits
\u00a0
of
\u00a0
subsidiaries
\u00a0
where
\u00a0
such
\u00a0
tax
\u00a0
is
\u00a0
applicable
\u00a0
and
\u00a0
it
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
realize
\u00a0
in
\u00a0
the
\u00a0
foreseeable
\u00a0
future.
\u00a0
Deferred
\u00a0
tax
\u00a0
assets
\u00a0
and
liabilities
\u00a0
are
\u00a0
offset
\u00a0
for
\u00a0
presentation
\u00a0
purposes
\u00a0
when
\u00a0
there
\u00a0
is
\u00a0
a
\u00a0
legally
\u00a0
enforceable
\u00a0
right
\u00a0
to
\u00a0
offset
\u00a0
income
\u00a0
tax
\u00a0
receivables
\u00a0
against
\u00a0
income
\u00a0
tax
\u00a0
payables
\u00a0
and
\u00a0
when
\u00a0
the
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
and
\u00a0
liabilities
relate
\u00a0
to
\u00a0
income
\u00a0
taxes
\u00a0
levied
\u00a0
by
\u00a0
the
\u00a0
same
\u00a0
taxation
\u00a0
authority.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_80": { "value": "
Non-current
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
and
\u00a0
discontinued
\u00a0
operations
In
\u00a0
June
\u00a0
2022
\u00a0
KONE
\u00a0
announced
\u00a0
decision
\u00a0
to
\u00a0
divest
\u00a0
its
\u00a0
business
\u00a0
in
\u00a0
Russia
\u00a0
by
\u00a0
selling
\u00a0
it
\u00a0
to
\u00a0
local
\u00a0
management.
\u00a0
The
\u00a0
share
\u00a0
purchase
\u00a0
agreement
\u00a0
is
\u00a0
subject
\u00a0
to
\u00a0
approval
\u00a0
by
\u00a0
the
\u00a0
relevant
\u00a0
regulatory
authorities
\u00a0
in
\u00a0
Russia.
\u00a0
As
\u00a0
at
\u00a0
December
\u00a0
31,
\u00a0
2022,
\u00a0
operations
\u00a0
in
\u00a0
Russia
\u00a0
are
\u00a0
classified
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale.
\u00a0
The
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
of
\u00a0
the
\u00a0
business
\u00a0
have
\u00a0
however
\u00a0
not
\u00a0
been
\u00a0
presented
\u00a0
separately
\u00a0
from
other
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
of
\u00a0
the
\u00a0
Group
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
nor
\u00a0
have
\u00a0
results
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
business
\u00a0
been
\u00a0
presented
\u00a0
as
\u00a0
a
\u00a0
separate
\u00a0
component
\u00a0
in
\u00a0
the
\u00a0
income
\u00a0
statement
\u00a0
as
\u00a0
the
\u00a0
impact
is
\u00a0
immaterial.
\u00a0
The
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
of
\u00a0
the
\u00a0
business
\u00a0
have
\u00a0
been
\u00a0
measured
\u00a0
at
\u00a0
the
\u00a0
lower
\u00a0
of
\u00a0
their
\u00a0
carrying
\u00a0
amount
\u00a0
or
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
cost
\u00a0
to
\u00a0
sell
\u00a0
resulting
\u00a0
in
\u00a0
recognition
\u00a0
of
\u00a0
loss
\u00a0
of
\u00a0
EUR
\u00a0
12.5
\u00a0
million.
Non-current
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
and
\u00a0
discontinued
\u00a0
operations
The
\u00a0
Group
\u00a0
classifies
\u00a0
non-current
\u00a0
assets
\u00a0
and
\u00a0
disposal
\u00a0
groups
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
if
\u00a0
their
\u00a0
carrying
\u00a0
amounts
\u00a0
will
\u00a0
be
\u00a0
recovered
\u00a0
principally
\u00a0
through
\u00a0
a
\u00a0
sale
\u00a0
transaction
\u00a0
rather
\u00a0
than
\u00a0
through
\u00a0
continuing
\u00a0
use.
Non-current
\u00a0
assets
\u00a0
and
\u00a0
disposal
\u00a0
groups
\u00a0
classified
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
the
\u00a0
lower
\u00a0
of
\u00a0
their
\u00a0
carrying
\u00a0
amount
\u00a0
and
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
costs
\u00a0
to
\u00a0
sell.
", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_16": { "value": "
Accounting
\u00a0
principles
Acquisitions
Businesses
\u00a0
acquired
\u00a0
during
\u00a0
the
\u00a0
period
\u00a0
have
\u00a0
been
\u00a0
combined
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
from
\u00a0
the
\u00a0
date
\u00a0
when
\u00a0
Group
\u00a0
has
\u00a0
obtained
\u00a0
control
\u00a0
of
\u00a0
the
\u00a0
business
\u00a0
and
\u00a0
divested
\u00a0
businesses
\u00a0
up
\u00a0
to
the
\u00a0
date
\u00a0
when
\u00a0
control
\u00a0
has
\u00a0
ceased.
\u00a0
The
\u00a0
acquisition
\u00a0
consideration,
\u00a0
including
\u00a0
deferred
\u00a0
and
\u00a0
contingent
\u00a0
consideration,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
identifiable
\u00a0
assets
\u00a0
acquired,
\u00a0
and
\u00a0
liabilities
\u00a0
assumed,
\u00a0
are
\u00a0
measured
at
\u00a0
the
\u00a0
acquisition
\u00a0
date
\u00a0
fair
\u00a0
values.
\u00a0
The
\u00a0
acquisition
\u00a0
related
\u00a0
costs
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
expenses
\u00a0
for
\u00a0
the
\u00a0
period
\u00a0
in
\u00a0
which
\u00a0
they
\u00a0
are
\u00a0
incurred.
At
\u00a0
the
\u00a0
acquisition
\u00a0
date,
\u00a0
any
\u00a0
non-controlling
\u00a0
interest
\u00a0
is
\u00a0
measured
\u00a0
either
\u00a0
at
\u00a0
the
\u00a0
acquisition
\u00a0
date
\u00a0
fair
\u00a0
value
\u00a0
or
\u00a0
at
\u00a0
non-controlling
\u00a0
interest\u2019s
\u00a0
proportionate
\u00a0
share
\u00a0
in
\u00a0
the
\u00a0
recognized
\u00a0
amounts
\u00a0
of
\u00a0
the
identifiable
\u00a0
net
\u00a0
assets.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_81": { "value": "
Non-current
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
and
\u00a0
discontinued
\u00a0
operations
The
\u00a0
Group
\u00a0
classifies
\u00a0
non-current
\u00a0
assets
\u00a0
and
\u00a0
disposal
\u00a0
groups
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
if
\u00a0
their
\u00a0
carrying
\u00a0
amounts
\u00a0
will
\u00a0
be
\u00a0
recovered
\u00a0
principally
\u00a0
through
\u00a0
a
\u00a0
sale
\u00a0
transaction
\u00a0
rather
\u00a0
than
\u00a0
through
\u00a0
continuing
\u00a0
use.
Non-current
\u00a0
assets
\u00a0
and
\u00a0
disposal
\u00a0
groups
\u00a0
classified
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
the
\u00a0
lower
\u00a0
of
\u00a0
their
\u00a0
carrying
\u00a0
amount
\u00a0
and
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
costs
\u00a0
to
\u00a0
sell.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_57": { "value": "
Assets
\u00a0
and
\u00a0
liabilities
\u00a0
of
\u00a0
the
\u00a0
acquired
\u00a0
businesses,
\u00a0
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Maintenance
\u00a0
contracts
26.2
22.7
Other
\u00a0
intangible
\u00a0
assets
0.0
0.2
Tangible
\u00a0
assets
0.4
0.2
Deferred
\u00a0
tax
\u00a0
assets
0.1
0.1
Inventories
1.5
0.8
Accounts
\u00a0
receivables
\u00a0
and
\u00a0
other
\u00a0
assets
2.6
4.9
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
2.4
8.2
Total
\u00a0
assets
33.1
37.2
Employee
\u00a0
benefit
\u00a0
liabilities
0.2
0.1
Interest-bearing
\u00a0
loans
2.5
0.2
Provisions
0.6
1.4
Deferred
\u00a0
tax
\u00a0
liabilities
3.3
2.0
Other
\u00a0
liabilities
2.2
3.6
Total
\u00a0
liabilities
8.9
7.3
Net
\u00a0
assets
24.2
30.0
Acquisition
\u00a0
cost
\u00a0
paid
\u00a0
in
\u00a0
cash
19.1
36.4
Contingent
\u00a0
and
\u00a0
deferred
\u00a0
consideration
9.1
13.7
Acquisition
\u00a0
cost
\u00a0
at
\u00a0
date
\u00a0
of
\u00a0
acquisitions
28.1
50.1
Goodwill
4.0
20.1
Changes
\u00a0
in
\u00a0
the
\u00a0
acquisition
\u00a0
cost
\u00a0
occurring
\u00a0
after
\u00a0
the
\u00a0
acquisition
\u00a0
date
\u00a0
and
\u00a0
recognized
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
totaled
\u00a0
EUR
\u00a0
0.7
\u00a0
(0.2)
\u00a0
million.
4.1
\u00a0
ACQUISITIONS
\u00a0
AND
\u00a0
DISPOSALS
Acquisitions
KONE
\u00a0
completed
\u00a0
17
\u00a0
(15)
\u00a0
acquisitions
\u00a0
during
\u00a0
2022
\u00a0
for
\u00a0
a
\u00a0
total
\u00a0
consideration
\u00a0
of
\u00a0
EUR
\u00a0
28.1
\u00a0
(50.1)
\u00a0
million.
\u00a0
The
\u00a0
acquired
\u00a0
businesses
\u00a0
are
\u00a0
specialized
\u00a0
in
\u00a0
the
\u00a0
elevator,
\u00a0
escalator
\u00a0
and
\u00a0
automatic
\u00a0
building
\u00a0
door
businesses
\u00a0
and
\u00a0
are
\u00a0
all
\u00a0
located
\u00a0
in
\u00a0
the
\u00a0
EMEA
\u00a0
region.
\u00a0
The
\u00a0
acquisitions
\u00a0
completed
\u00a0
during
\u00a0
the
\u00a0
financial
\u00a0
period
\u00a0
were
\u00a0
not
\u00a0
material
\u00a0
individually
\u00a0
or
\u00a0
as
\u00a0
a
\u00a0
whole
\u00a0
to
\u00a0
KONE\u2019s
\u00a0
2022
\u00a0
financial
\u00a0
statements.
\u00a0
The
sales
\u00a0
consolidated
\u00a0
from
\u00a0
the
\u00a0
companies
\u00a0
acquired
\u00a0
during
\u00a0
2022
\u00a0
had
\u00a0
only
\u00a0
a
\u00a0
minor
\u00a0
impact
\u00a0
on
\u00a0
KONE\u2019s
\u00a0
sales
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
period.
\u00a0
Of
\u00a0
the
\u00a0
total
\u00a0
consideration,
\u00a0
based
\u00a0
on
\u00a0
provisional
\u00a0
assessments,
\u00a0
EUR
26.2
\u00a0
million
\u00a0
was
\u00a0
allocated
\u00a0
to
\u00a0
maintenance
\u00a0
contracts
\u00a0
in
\u00a0
other
\u00a0
intangible
\u00a0
assets.
\u00a0
Acquired
\u00a0
maintenance
\u00a0
contracts
\u00a0
are
\u00a0
typically
\u00a0
amortized
\u00a0
over
\u00a0
ten
\u00a0
years.
\u00a0
Note
\u00a0
4.3
\u00a0
provides
\u00a0
more
\u00a0
detail
\u00a0
on
\u00a0
other
intangible
\u00a0
assets.
\u00a0
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
acquired
\u00a0
net
\u00a0
assets,
\u00a0
based
\u00a0
on
\u00a0
a
\u00a0
provisional
\u00a0
assessment,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
acquisition
\u00a0
costs,
\u00a0
are
\u00a0
summarized
\u00a0
in
\u00a0
the
\u00a0
adjacent
\u00a0
table.
\u00a0
The
\u00a0
considerations
\u00a0
were
\u00a0
paid
\u00a0
for
\u00a0
in
\u00a0
cash,
except
\u00a0
for
\u00a0
certain
\u00a0
deferred
\u00a0
considerations,
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
paid
\u00a0
later.
\u00a0
For
\u00a0
most
\u00a0
of
\u00a0
the
\u00a0
completed
\u00a0
acquisitions,
\u00a0
the
\u00a0
acquisition
\u00a0
cost
\u00a0
includes
\u00a0
a
\u00a0
contingent
\u00a0
consideration,
\u00a0
which
\u00a0
is
\u00a0
typically
\u00a0
determined
\u00a0
by
the
\u00a0
financial
\u00a0
performance
\u00a0
of
\u00a0
the
\u00a0
acquired
\u00a0
business
\u00a0
after
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
the
\u00a0
acquisition.
\u00a0
Changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
contingent
\u00a0
consideration
\u00a0
after
\u00a0
the
\u00a0
acquisition
\u00a0
date
\u00a0
are
\u00a0
recognized
\u00a0
in
\u00a0
the
\u00a0
profit
\u00a0
or
loss.
\u00a0
However,
\u00a0
contingent
\u00a0
considerations
\u00a0
are
\u00a0
typically
\u00a0
realized
\u00a0
in
\u00a0
the
\u00a0
amount
\u00a0
initially
\u00a0
recognized.
\u00a0
KONE
\u00a0
mostly
\u00a0
acquired
\u00a0
a
\u00a0
100%
\u00a0
interest
\u00a0
in
\u00a0
all
\u00a0
businesses
\u00a0
acquired
\u00a0
in
\u00a0
2022,
\u00a0
except
\u00a0
for
\u00a0
one
acquisition.
Disposals
In
\u00a0
the
\u00a0
comparison
\u00a0
reporting
\u00a0
period
\u00a0
KONE
\u00a0
sold
\u00a0
its
\u00a0
full
\u00a0
ownership
\u00a0
in
\u00a0
Motala
\u00a0
Hissar
\u00a0
AB
\u00a0
against
\u00a0
cash
\u00a0
consideration.
\u00a0
The
\u00a0
sale
\u00a0
of
\u00a0
the
\u00a0
subsidiary
\u00a0
did
\u00a0
not
\u00a0
have
\u00a0
material
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
assets
\u00a0
or
\u00a0
liabilities
\u00a0
of
the
\u00a0
Group.
\u00a0
A
\u00a0
gain
\u00a0
of
\u00a0
EUR
\u00a0
13.9
\u00a0
million
\u00a0
was
\u00a0
recognized
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
sale.
Non-current
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
and
\u00a0
discontinued
\u00a0
operations
In
\u00a0
June
\u00a0
2022
\u00a0
KONE
\u00a0
announced
\u00a0
decision
\u00a0
to
\u00a0
divest
\u00a0
its
\u00a0
business
\u00a0
in
\u00a0
Russia
\u00a0
by
\u00a0
selling
\u00a0
it
\u00a0
to
\u00a0
local
\u00a0
management.
\u00a0
The
\u00a0
share
\u00a0
purchase
\u00a0
agreement
\u00a0
is
\u00a0
subject
\u00a0
to
\u00a0
approval
\u00a0
by
\u00a0
the
\u00a0
relevant
\u00a0
regulatory
authorities
\u00a0
in
\u00a0
Russia.
\u00a0
As
\u00a0
at
\u00a0
December
\u00a0
31,
\u00a0
2022,
\u00a0
operations
\u00a0
in
\u00a0
Russia
\u00a0
are
\u00a0
classified
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale.
\u00a0
The
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
of
\u00a0
the
\u00a0
business
\u00a0
have
\u00a0
however
\u00a0
not
\u00a0
been
\u00a0
presented
\u00a0
separately
\u00a0
from
other
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
of
\u00a0
the
\u00a0
Group
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
nor
\u00a0
have
\u00a0
results
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
business
\u00a0
been
\u00a0
presented
\u00a0
as
\u00a0
a
\u00a0
separate
\u00a0
component
\u00a0
in
\u00a0
the
\u00a0
income
\u00a0
statement
\u00a0
as
\u00a0
the
\u00a0
impact
is
\u00a0
immaterial.
\u00a0
The
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
of
\u00a0
the
\u00a0
business
\u00a0
have
\u00a0
been
\u00a0
measured
\u00a0
at
\u00a0
the
\u00a0
lower
\u00a0
of
\u00a0
their
\u00a0
carrying
\u00a0
amount
\u00a0
or
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
cost
\u00a0
to
\u00a0
sell
\u00a0
resulting
\u00a0
in
\u00a0
recognition
\u00a0
of
\u00a0
loss
\u00a0
of
\u00a0
EUR
\u00a0
12.5
\u00a0
million.
Accounting
\u00a0
principles
Acquisitions
Businesses
\u00a0
acquired
\u00a0
during
\u00a0
the
\u00a0
period
\u00a0
have
\u00a0
been
\u00a0
combined
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
from
\u00a0
the
\u00a0
date
\u00a0
when
\u00a0
Group
\u00a0
has
\u00a0
obtained
\u00a0
control
\u00a0
of
\u00a0
the
\u00a0
business
\u00a0
and
\u00a0
divested
\u00a0
businesses
\u00a0
up
\u00a0
to
the
\u00a0
date
\u00a0
when
\u00a0
control
\u00a0
has
\u00a0
ceased.
\u00a0
The
\u00a0
acquisition
\u00a0
consideration,
\u00a0
including
\u00a0
deferred
\u00a0
and
\u00a0
contingent
\u00a0
consideration,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
identifiable
\u00a0
assets
\u00a0
acquired,
\u00a0
and
\u00a0
liabilities
\u00a0
assumed,
\u00a0
are
\u00a0
measured
at
\u00a0
the
\u00a0
acquisition
\u00a0
date
\u00a0
fair
\u00a0
values.
\u00a0
The
\u00a0
acquisition
\u00a0
related
\u00a0
costs
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
expenses
\u00a0
for
\u00a0
the
\u00a0
period
\u00a0
in
\u00a0
which
\u00a0
they
\u00a0
are
\u00a0
incurred.
At
\u00a0
the
\u00a0
acquisition
\u00a0
date,
\u00a0
any
\u00a0
non-controlling
\u00a0
interest
\u00a0
is
\u00a0
measured
\u00a0
either
\u00a0
at
\u00a0
the
\u00a0
acquisition
\u00a0
date
\u00a0
fair
\u00a0
value
\u00a0
or
\u00a0
at
\u00a0
non-controlling
\u00a0
interest\u2019s
\u00a0
proportionate
\u00a0
share
\u00a0
in
\u00a0
the
\u00a0
recognized
\u00a0
amounts
\u00a0
of
\u00a0
the
identifiable
\u00a0
net
\u00a0
assets.
Non-current
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
and
\u00a0
discontinued
\u00a0
operations
The
\u00a0
Group
\u00a0
classifies
\u00a0
non-current
\u00a0
assets
\u00a0
and
\u00a0
disposal
\u00a0
groups
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
if
\u00a0
their
\u00a0
carrying
\u00a0
amounts
\u00a0
will
\u00a0
be
\u00a0
recovered
\u00a0
principally
\u00a0
through
\u00a0
a
\u00a0
sale
\u00a0
transaction
\u00a0
rather
\u00a0
than
\u00a0
through
\u00a0
continuing
\u00a0
use.
Non-current
\u00a0
assets
\u00a0
and
\u00a0
disposal
\u00a0
groups
\u00a0
classified
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
the
\u00a0
lower
\u00a0
of
\u00a0
their
\u00a0
carrying
\u00a0
amount
\u00a0
and
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
costs
\u00a0
to
\u00a0
sell.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_59": { "value": "
4.2
\u00a0
GOODWILL
Goodwill
\u00a0
allocation
Goodwill
\u00a0
is
\u00a0
allocated
\u00a0
to
\u00a0
cash-generating
\u00a0
units
\u00a0
(CGUs).
\u00a0
A
\u00a0
cash
\u00a0
generating
\u00a0
unit
\u00a0
is
\u00a0
typically
\u00a0
defined
\u00a0
as
\u00a0
the
\u00a0
country
\u00a0
unit
\u00a0
in
\u00a0
which
\u00a0
the
\u00a0
acquired
\u00a0
business
\u00a0
operates
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
KONE\u2019s
\u00a0
business
model
\u00a0
and
\u00a0
organization
\u00a0
structure.
\u00a0
As
\u00a0
at
\u00a0
Dec
\u00a0
31,
\u00a0
2022
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
goodwill
\u00a0
is
\u00a0
allocated
\u00a0
to
\u00a0
23
\u00a0
different
\u00a0
CGUs.
\u00a0
The
\u00a0
five
\u00a0
largest
\u00a0
CGUs
\u00a0
carry
\u00a0
75%
\u00a0
of
\u00a0
the
\u00a0
goodwill.
\u00a0
The
\u00a0
carrying
\u00a0
amount
\u00a0
of
goodwill
\u00a0
is
\u00a0
below
\u00a0
EUR
\u00a0
10
\u00a0
million
\u00a0
for
\u00a0
9
\u00a0
CGUs.
\u00a0
The
\u00a0
geographical
\u00a0
allocation
\u00a0
of
\u00a0
goodwill
\u00a0
and
\u00a0
the
\u00a0
weighted
\u00a0
average
\u00a0
discount
\u00a0
rates
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
adjacent
\u00a0
table.
Impairment
\u00a0
testing
The
\u00a0
value-in-use
\u00a0
calculations
\u00a0
have
\u00a0
been
\u00a0
prepared
\u00a0
utilizing
\u00a0
cash
\u00a0
flow
\u00a0
projections
\u00a0
that
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
CGU
\u00a0
specific
\u00a0
financial
\u00a0
estimates
\u00a0
approved
\u00a0
by
\u00a0
the
\u00a0
Group
\u00a0
management.
\u00a0
The
\u00a0
explicit
\u00a0
forecast
\u00a0
period
covers
\u00a0
the
\u00a0
following
\u00a0
three
\u00a0
years
\u00a0
for
\u00a0
each
\u00a0
CGU.
The
\u00a0
business
\u00a0
growth,
\u00a0
sales
\u00a0
price
\u00a0
and
\u00a0
cost
\u00a0
development
\u00a0
assumptions
\u00a0
embedded
\u00a0
in
\u00a0
the
\u00a0
CGU
\u00a0
specific
\u00a0
cash
\u00a0
flow
\u00a0
projections
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
management
\u00a0
assessment
\u00a0
of
\u00a0
the
\u00a0
market
\u00a0
demand
\u00a0
and
environment,
\u00a0
which
\u00a0
are
\u00a0
examined
\u00a0
against
\u00a0
external
\u00a0
information
\u00a0
sources.
\u00a0
The
\u00a0
productivity
\u00a0
and
\u00a0
efficiency
\u00a0
assumptions
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
internal
\u00a0
targets,
\u00a0
which
\u00a0
are
\u00a0
evaluated
\u00a0
against
\u00a0
actual
\u00a0
performance.
The
\u00a0
cash
\u00a0
flows
\u00a0
for
\u00a0
subsequent
\u00a0
terminal
\u00a0
year
\u00a0
are
\u00a0
assumed
\u00a0
prudently
\u00a0
without
\u00a0
growth,
\u00a0
except
\u00a0
as
\u00a0
stated
\u00a0
below.
\u00a0
The
\u00a0
discount
\u00a0
rates
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
risk-free
\u00a0
interest
\u00a0
rates,
\u00a0
risk
\u00a0
factors
\u00a0
(beta
\u00a0
coefficient)
\u00a0
and
\u00a0
market
\u00a0
risk
\u00a0
premiums
\u00a0
available
\u00a0
on
\u00a0
financial
\u00a0
markets.
\u00a0
The
\u00a0
value-in-use
\u00a0
calculations
\u00a0
are
\u00a0
validated
\u00a0
against
KONE\u2019s
\u00a0
market
\u00a0
capitalization.
\u00a0
Compared
\u00a0
to
\u00a0
previous
\u00a0
year,
\u00a0
the
\u00a0
most
\u00a0
significant
\u00a0
change
\u00a0
affecting
\u00a0
the
\u00a0
cash
\u00a0
flow
\u00a0
projections
\u00a0
has
\u00a0
concerned
\u00a0
the
\u00a0
deterioration
\u00a0
of
\u00a0
new
\u00a0
equipment
\u00a0
market
\u00a0
in
\u00a0
China
\u00a0
where
\u00a0
goodwill
\u00a0
is
\u00a0
carried
\u00a0
related
\u00a0
to
KONE's
\u00a0
second
\u00a0
brand
\u00a0
business.
\u00a0
The
\u00a0
operating
\u00a0
environment
\u00a0
having
\u00a0
seen
\u00a0
big
\u00a0
changes,
\u00a0
assumptions
\u00a0
specific
\u00a0
to
\u00a0
this
\u00a0
CGU
\u00a0
have
\u00a0
been
\u00a0
revised
\u00a0
when
\u00a0
estimating
\u00a0
the
\u00a0
value
\u00a0
in
\u00a0
use,
\u00a0
including
\u00a0
country
\u00a0
risk
premium
\u00a0
and
\u00a0
terminal
\u00a0
growth
\u00a0
rate
\u00a0
that
\u00a0
has
\u00a0
been
\u00a0
increased
\u00a0
to
\u00a0
better
\u00a0
align
\u00a0
with
\u00a0
local
\u00a0
inflation.
\u00a0
As
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
the
\u00a0
annual
\u00a0
impairment
\u00a0
test,
\u00a0
the
\u00a0
goodwill
\u00a0
for
\u00a0
one
\u00a0
CGU
\u00a0
in
\u00a0
EMEA
\u00a0
in
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
EUR
\u00a0
1.0
\u00a0
million,
\u00a0
was
\u00a0
fully
\u00a0
impaired.
\u00a0
Additionally,
\u00a0
EUR
\u00a0
2.8
\u00a0
million
\u00a0
of
\u00a0
goodwill
\u00a0
attached
\u00a0
to
\u00a0
operations
\u00a0
in
Russia
\u00a0
was
\u00a0
impaired
\u00a0
during
\u00a0
2022
\u00a0
when
\u00a0
the
\u00a0
business
\u00a0
was
\u00a0
reclassified
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale.
\u00a0
The
\u00a0
impairment
\u00a0
testing
\u00a0
process
\u00a0
includes
\u00a0
a
\u00a0
sensitivity
\u00a0
analysis
\u00a0
in
\u00a0
which
\u00a0
the
\u00a0
CGU
\u00a0
specific
\u00a0
cash
\u00a0
flow
\u00a0
estimates
\u00a0
were
\u00a0
reduced
\u00a0
by
\u00a0
10\u201340
\u00a0
percent
\u00a0
and
\u00a0
the
\u00a0
discount
\u00a0
rates
\u00a0
were
\u00a0
increased
\u00a0
by
\u00a0
1\u20134
percentage
\u00a0
points.
\u00a0
Based
\u00a0
on
\u00a0
the
\u00a0
sensitivity
\u00a0
analysis,
\u00a0
the
\u00a0
probability
\u00a0
for
\u00a0
material
\u00a0
impairment
\u00a0
losses
\u00a0
was
\u00a0
very
\u00a0
low
\u00a0
in
\u00a0
all
\u00a0
other
\u00a0
CGUs,
\u00a0
except
\u00a0
for
\u00a0
the
\u00a0
second
\u00a0
brand
\u00a0
CGU
\u00a0
in
\u00a0
China
\u00a0
where
\u00a0
the
\u00a0
value
\u00a0
in
\u00a0
use
with
\u00a0
the
\u00a0
base
\u00a0
scenario
\u00a0
approximates
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
assets
\u00a0
employed
\u00a0
by
\u00a0
the
\u00a0
CGU.
\u00a0
Even
\u00a0
small
\u00a0
deterioration
\u00a0
in
\u00a0
future
\u00a0
cashflow
\u00a0
or
\u00a0
adverse
\u00a0
change
\u00a0
in
\u00a0
calculation
\u00a0
assumptions
\u00a0
would
\u00a0
result
\u00a0
in
\u00a0
recognition
of
\u00a0
impairment
\u00a0
charge
\u00a0
for
\u00a0
the
\u00a0
China
\u00a0
second
\u00a0
brand
\u00a0
CGU.
\u00a0
Due
\u00a0
to
\u00a0
this
\u00a0
sensitivity,
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
cost
\u00a0
to
\u00a0
sell
\u00a0
analysis
\u00a0
has
\u00a0
further
\u00a0
been
\u00a0
prepared
\u00a0
for
\u00a0
the
\u00a0
CGU
\u00a0
to
\u00a0
validate
\u00a0
the
\u00a0
outcome
\u00a0
from
\u00a0
value
\u00a0
in
\u00a0
use
analysis.
\u00a0
This
\u00a0
analysis
\u00a0
supports
\u00a0
the
\u00a0
recoverable
\u00a0
value
\u00a0
provided
\u00a0
by
\u00a0
the
\u00a0
base
\u00a0
scenario.
\u00a0
On
\u00a0
December
\u00a0
31,
\u00a0
2022
\u00a0
goodwill
\u00a0
carried
\u00a0
by
\u00a0
respective
\u00a0
CGU
\u00a0
amounts
\u00a0
to
\u00a0
EUR
\u00a0
190.9
\u00a0
million.
\u00a0
Under
\u00a0
the
\u00a0
basic
\u00a0
scenario
\u00a0
for
\u00a0
other
\u00a0
CGUs,
\u00a0
the
\u00a0
value-in-use
\u00a0
calculations
\u00a0
were
\u00a0
on
\u00a0
average
\u00a0
7.5
\u00a0
times
\u00a0
higher
\u00a0
than
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
CGUs\u2019
\u00a0
assets
\u00a0
employed.
\u00a0
The
\u00a0
respective
\u00a0
ratio
\u00a0
for
\u00a0
the
\u00a0
five
\u00a0
largest
\u00a0
CGUs
was
\u00a0
6.3;
\u00a0
for
\u00a0
the
\u00a0
five
\u00a0
smallest
\u00a0
12.2
\u00a0
and
\u00a0
respectively
\u00a0
for
\u00a0
the
\u00a0
other
\u00a0
CGUs
\u00a0
9.7.
Accounting
\u00a0
principles
Goodwill
Acquisitions
\u00a0
are
\u00a0
accounted
\u00a0
for
\u00a0
using
\u00a0
the
\u00a0
acquisition
\u00a0
method.
\u00a0
Goodwill
\u00a0
is
\u00a0
calculated
\u00a0
as
\u00a0
the
\u00a0
excess
\u00a0
of
\u00a0
acquisition
\u00a0
cost
\u00a0
over
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
identified
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
acquired.
\u00a0
Goodwill
\u00a0
typically
represents
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
acquired
\u00a0
market
\u00a0
share,
\u00a0
business
\u00a0
knowledge
\u00a0
and
\u00a0
the
\u00a0
synergies
\u00a0
obtained
\u00a0
in
\u00a0
connection
\u00a0
with
\u00a0
the
\u00a0
acquisition.
\u00a0
The
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
goodwill
\u00a0
is
\u00a0
not
\u00a0
amortized,
\u00a0
but
\u00a0
is
\u00a0
tested
for
\u00a0
impairment.
Impairment
\u00a0
testing
The
\u00a0
Group
\u00a0
assesses
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
goodwill
\u00a0
annually
\u00a0
or
\u00a0
more
\u00a0
frequently
\u00a0
if
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
exists.
\u00a0
Goodwill
\u00a0
is
\u00a0
allocated
\u00a0
to
\u00a0
the
\u00a0
cash
\u00a0
generating
\u00a0
units
\u00a0
(CGUs)
\u00a0
of
\u00a0
the
\u00a0
Group,
\u00a0
which
are
\u00a0
identified
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
country
\u00a0
of
\u00a0
operation
\u00a0
and
\u00a0
business
\u00a0
area
\u00a0
at
\u00a0
the
\u00a0
level
\u00a0
at
\u00a0
which
\u00a0
goodwill
\u00a0
is
\u00a0
monitored
\u00a0
for
\u00a0
internal
\u00a0
management
\u00a0
purposes.
\u00a0
The
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
a
\u00a0
CGU
\u00a0
is
determined
\u00a0
by
\u00a0
value-in-use
\u00a0
calculations.
\u00a0
In
\u00a0
assessing
\u00a0
the
\u00a0
recoverable
\u00a0
amount,
\u00a0
estimated
\u00a0
future
\u00a0
cash
\u00a0
flows
\u00a0
are
\u00a0
discounted
\u00a0
to
\u00a0
their
\u00a0
present
\u00a0
value.
\u00a0
Cash
\u00a0
flow
\u00a0
estimates
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
estimates.
\u00a0
The
\u00a0
discount
\u00a0
rate
\u00a0
is
\u00a0
the
\u00a0
weighted
\u00a0
average
\u00a0
cost
\u00a0
of
\u00a0
capital
\u00a0
(WACC)
\u00a0
for
\u00a0
the
\u00a0
main
\u00a0
currency
\u00a0
area
\u00a0
in
\u00a0
the
\u00a0
location
\u00a0
of
\u00a0
the
\u00a0
CGU
\u00a0
(country
\u00a0
or
\u00a0
business
\u00a0
area),
\u00a0
which
\u00a0
reflects
\u00a0
the
\u00a0
market
\u00a0
assessment
of
\u00a0
the
\u00a0
time
\u00a0
value
\u00a0
of
\u00a0
money
\u00a0
and
\u00a0
the
\u00a0
risks
\u00a0
specific
\u00a0
in
\u00a0
KONE\u2019s
\u00a0
business.
Any
\u00a0
impairment
\u00a0
loss
\u00a0
of
\u00a0
goodwill
\u00a0
is
\u00a0
recognized
\u00a0
immediately
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
and
\u00a0
is
\u00a0
not
\u00a0
subsequently
\u00a0
reversed.
", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_58": { "value": "
4.2
\u00a0
GOODWILL
Goodwill
\u00a0
allocation
Goodwill
\u00a0
is
\u00a0
allocated
\u00a0
to
\u00a0
cash-generating
\u00a0
units
\u00a0
(CGUs).
\u00a0
A
\u00a0
cash
\u00a0
generating
\u00a0
unit
\u00a0
is
\u00a0
typically
\u00a0
defined
\u00a0
as
\u00a0
the
\u00a0
country
\u00a0
unit
\u00a0
in
\u00a0
which
\u00a0
the
\u00a0
acquired
\u00a0
business
\u00a0
operates
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
KONE\u2019s
\u00a0
business
model
\u00a0
and
\u00a0
organization
\u00a0
structure.
\u00a0
As
\u00a0
at
\u00a0
Dec
\u00a0
31,
\u00a0
2022
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
goodwill
\u00a0
is
\u00a0
allocated
\u00a0
to
\u00a0
23
\u00a0
different
\u00a0
CGUs.
\u00a0
The
\u00a0
five
\u00a0
largest
\u00a0
CGUs
\u00a0
carry
\u00a0
75%
\u00a0
of
\u00a0
the
\u00a0
goodwill.
\u00a0
The
\u00a0
carrying
\u00a0
amount
\u00a0
of
goodwill
\u00a0
is
\u00a0
below
\u00a0
EUR
\u00a0
10
\u00a0
million
\u00a0
for
\u00a0
9
\u00a0
CGUs.
\u00a0
The
\u00a0
geographical
\u00a0
allocation
\u00a0
of
\u00a0
goodwill
\u00a0
and
\u00a0
the
\u00a0
weighted
\u00a0
average
\u00a0
discount
\u00a0
rates
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
adjacent
\u00a0
table.
Impairment
\u00a0
testing
The
\u00a0
value-in-use
\u00a0
calculations
\u00a0
have
\u00a0
been
\u00a0
prepared
\u00a0
utilizing
\u00a0
cash
\u00a0
flow
\u00a0
projections
\u00a0
that
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
CGU
\u00a0
specific
\u00a0
financial
\u00a0
estimates
\u00a0
approved
\u00a0
by
\u00a0
the
\u00a0
Group
\u00a0
management.
\u00a0
The
\u00a0
explicit
\u00a0
forecast
\u00a0
period
covers
\u00a0
the
\u00a0
following
\u00a0
three
\u00a0
years
\u00a0
for
\u00a0
each
\u00a0
CGU.
The
\u00a0
business
\u00a0
growth,
\u00a0
sales
\u00a0
price
\u00a0
and
\u00a0
cost
\u00a0
development
\u00a0
assumptions
\u00a0
embedded
\u00a0
in
\u00a0
the
\u00a0
CGU
\u00a0
specific
\u00a0
cash
\u00a0
flow
\u00a0
projections
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
management
\u00a0
assessment
\u00a0
of
\u00a0
the
\u00a0
market
\u00a0
demand
\u00a0
and
environment,
\u00a0
which
\u00a0
are
\u00a0
examined
\u00a0
against
\u00a0
external
\u00a0
information
\u00a0
sources.
\u00a0
The
\u00a0
productivity
\u00a0
and
\u00a0
efficiency
\u00a0
assumptions
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
internal
\u00a0
targets,
\u00a0
which
\u00a0
are
\u00a0
evaluated
\u00a0
against
\u00a0
actual
\u00a0
performance.
The
\u00a0
cash
\u00a0
flows
\u00a0
for
\u00a0
subsequent
\u00a0
terminal
\u00a0
year
\u00a0
are
\u00a0
assumed
\u00a0
prudently
\u00a0
without
\u00a0
growth,
\u00a0
except
\u00a0
as
\u00a0
stated
\u00a0
below.
\u00a0
The
\u00a0
discount
\u00a0
rates
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
risk-free
\u00a0
interest
\u00a0
rates,
\u00a0
risk
\u00a0
factors
\u00a0
(beta
\u00a0
coefficient)
\u00a0
and
\u00a0
market
\u00a0
risk
\u00a0
premiums
\u00a0
available
\u00a0
on
\u00a0
financial
\u00a0
markets.
\u00a0
The
\u00a0
value-in-use
\u00a0
calculations
\u00a0
are
\u00a0
validated
\u00a0
against
KONE\u2019s
\u00a0
market
\u00a0
capitalization.
\u00a0
Compared
\u00a0
to
\u00a0
previous
\u00a0
year,
\u00a0
the
\u00a0
most
\u00a0
significant
\u00a0
change
\u00a0
affecting
\u00a0
the
\u00a0
cash
\u00a0
flow
\u00a0
projections
\u00a0
has
\u00a0
concerned
\u00a0
the
\u00a0
deterioration
\u00a0
of
\u00a0
new
\u00a0
equipment
\u00a0
market
\u00a0
in
\u00a0
China
\u00a0
where
\u00a0
goodwill
\u00a0
is
\u00a0
carried
\u00a0
related
\u00a0
to
KONE's
\u00a0
second
\u00a0
brand
\u00a0
business.
\u00a0
The
\u00a0
operating
\u00a0
environment
\u00a0
having
\u00a0
seen
\u00a0
big
\u00a0
changes,
\u00a0
assumptions
\u00a0
specific
\u00a0
to
\u00a0
this
\u00a0
CGU
\u00a0
have
\u00a0
been
\u00a0
revised
\u00a0
when
\u00a0
estimating
\u00a0
the
\u00a0
value
\u00a0
in
\u00a0
use,
\u00a0
including
\u00a0
country
\u00a0
risk
premium
\u00a0
and
\u00a0
terminal
\u00a0
growth
\u00a0
rate
\u00a0
that
\u00a0
has
\u00a0
been
\u00a0
increased
\u00a0
to
\u00a0
better
\u00a0
align
\u00a0
with
\u00a0
local
\u00a0
inflation.
\u00a0
As
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
the
\u00a0
annual
\u00a0
impairment
\u00a0
test,
\u00a0
the
\u00a0
goodwill
\u00a0
for
\u00a0
one
\u00a0
CGU
\u00a0
in
\u00a0
EMEA
\u00a0
in
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
EUR
\u00a0
1.0
\u00a0
million,
\u00a0
was
\u00a0
fully
\u00a0
impaired.
\u00a0
Additionally,
\u00a0
EUR
\u00a0
2.8
\u00a0
million
\u00a0
of
\u00a0
goodwill
\u00a0
attached
\u00a0
to
\u00a0
operations
\u00a0
in
Russia
\u00a0
was
\u00a0
impaired
\u00a0
during
\u00a0
2022
\u00a0
when
\u00a0
the
\u00a0
business
\u00a0
was
\u00a0
reclassified
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale.
\u00a0
The
\u00a0
impairment
\u00a0
testing
\u00a0
process
\u00a0
includes
\u00a0
a
\u00a0
sensitivity
\u00a0
analysis
\u00a0
in
\u00a0
which
\u00a0
the
\u00a0
CGU
\u00a0
specific
\u00a0
cash
\u00a0
flow
\u00a0
estimates
\u00a0
were
\u00a0
reduced
\u00a0
by
\u00a0
10\u201340
\u00a0
percent
\u00a0
and
\u00a0
the
\u00a0
discount
\u00a0
rates
\u00a0
were
\u00a0
increased
\u00a0
by
\u00a0
1\u20134
percentage
\u00a0
points.
\u00a0
Based
\u00a0
on
\u00a0
the
\u00a0
sensitivity
\u00a0
analysis,
\u00a0
the
\u00a0
probability
\u00a0
for
\u00a0
material
\u00a0
impairment
\u00a0
losses
\u00a0
was
\u00a0
very
\u00a0
low
\u00a0
in
\u00a0
all
\u00a0
other
\u00a0
CGUs,
\u00a0
except
\u00a0
for
\u00a0
the
\u00a0
second
\u00a0
brand
\u00a0
CGU
\u00a0
in
\u00a0
China
\u00a0
where
\u00a0
the
\u00a0
value
\u00a0
in
\u00a0
use
with
\u00a0
the
\u00a0
base
\u00a0
scenario
\u00a0
approximates
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
assets
\u00a0
employed
\u00a0
by
\u00a0
the
\u00a0
CGU.
\u00a0
Even
\u00a0
small
\u00a0
deterioration
\u00a0
in
\u00a0
future
\u00a0
cashflow
\u00a0
or
\u00a0
adverse
\u00a0
change
\u00a0
in
\u00a0
calculation
\u00a0
assumptions
\u00a0
would
\u00a0
result
\u00a0
in
\u00a0
recognition
of
\u00a0
impairment
\u00a0
charge
\u00a0
for
\u00a0
the
\u00a0
China
\u00a0
second
\u00a0
brand
\u00a0
CGU.
\u00a0
Due
\u00a0
to
\u00a0
this
\u00a0
sensitivity,
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
cost
\u00a0
to
\u00a0
sell
\u00a0
analysis
\u00a0
has
\u00a0
further
\u00a0
been
\u00a0
prepared
\u00a0
for
\u00a0
the
\u00a0
CGU
\u00a0
to
\u00a0
validate
\u00a0
the
\u00a0
outcome
\u00a0
from
\u00a0
value
\u00a0
in
\u00a0
use
analysis.
\u00a0
This
\u00a0
analysis
\u00a0
supports
\u00a0
the
\u00a0
recoverable
\u00a0
value
\u00a0
provided
\u00a0
by
\u00a0
the
\u00a0
base
\u00a0
scenario.
\u00a0
On
\u00a0
December
\u00a0
31,
\u00a0
2022
\u00a0
goodwill
\u00a0
carried
\u00a0
by
\u00a0
respective
\u00a0
CGU
\u00a0
amounts
\u00a0
to
\u00a0
EUR
\u00a0
190.9
\u00a0
million.
\u00a0
Under
\u00a0
the
\u00a0
basic
\u00a0
scenario
\u00a0
for
\u00a0
other
\u00a0
CGUs,
\u00a0
the
\u00a0
value-in-use
\u00a0
calculations
\u00a0
were
\u00a0
on
\u00a0
average
\u00a0
7.5
\u00a0
times
\u00a0
higher
\u00a0
than
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
CGUs\u2019
\u00a0
assets
\u00a0
employed.
\u00a0
The
\u00a0
respective
\u00a0
ratio
\u00a0
for
\u00a0
the
\u00a0
five
\u00a0
largest
\u00a0
CGUs
was
\u00a0
6.3;
\u00a0
for
\u00a0
the
\u00a0
five
\u00a0
smallest
\u00a0
12.2
\u00a0
and
\u00a0
respectively
\u00a0
for
\u00a0
the
\u00a0
other
\u00a0
CGUs
\u00a0
9.7.
Goodwill,
\u00a0
MEUR
Dec
\u00a0
31,
\u00a0
2022
%
Discount
\u00a0
rates
\u00a0
used
(pre-tax),
\u00a0
%
Dec
\u00a0
31,
\u00a0
2021
%
Discount
\u00a0
rates
\u00a0
used
(pre-tax),
\u00a0
%
EMEA
809.5
57
8.23
814.9
58
5.52
Americas
368.1
26
10.05
349.0
25
7.22
Asia
\u00a0
-Pacific
237.1
17
10.17
241.4
17
8.91
Total
1,414.7
1,405.2
Goodwill
\u00a0
reconciliation
Goodwill,
\u00a0
MEUR
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Opening
\u00a0
net
\u00a0
book
\u00a0
value
1,405.2
1,327.0
Translation
\u00a0
differences
8.2
58.6
Increase
3.5
-
Decrease
-6.1
-0.9
Companies
\u00a0
acquired
\u00a0
(note
\u00a0
4.1)
4.0
20.5
Closing
\u00a0
net
\u00a0
book
\u00a0
value
1,414.7
1,405.2
4.3
\u00a0
INTANGIBLE
\u00a0
ASSETS
Accounting
\u00a0
principles
Intangible
\u00a0
assets
Intangible
\u00a0
assets
\u00a0
identified
\u00a0
in
\u00a0
connection
\u00a0
with
\u00a0
acquisitions
\u00a0
are
\u00a0
amortized
\u00a0
on
\u00a0
a
\u00a0
straight
\u00a0
-line
\u00a0
basis
\u00a0
over
\u00a0
their
\u00a0
expected
\u00a0
useful
\u00a0
lifetime.
\u00a0
KONE
\u00a0
often
\u00a0
acquires
\u00a0
small
\u00a0
elevator,
\u00a0
escalator
\u00a0
and
\u00a0
door
\u00a0
service
companies,
\u00a0
where
\u00a0
the
\u00a0
excess
\u00a0
of
\u00a0
consideration
\u00a0
transferred
\u00a0
over
\u00a0
the
\u00a0
net
\u00a0
assets
\u00a0
of
\u00a0
the
\u00a0
acquiree
\u00a0
as
\u00a0
at
\u00a0
closing
\u00a0
is
\u00a0
allocated
\u00a0
to
\u00a0
the
\u00a0
acquired
\u00a0
maintenance
\u00a0
contracts.
\u00a0
The
\u00a0
acquired
\u00a0
maintenance
\u00a0
contracts
are
\u00a0
typically
\u00a0
amortized
\u00a0
over
\u00a0
ten
\u00a0
years.
Intangible
\u00a0
assets
\u00a0
also
\u00a0
include
\u00a0
expenditure
\u00a0
on
\u00a0
acquired
\u00a0
patents,
\u00a0
trademarks
\u00a0
and
\u00a0
licenses,
\u00a0
including
\u00a0
acquired
\u00a0
software
\u00a0
licenses.
\u00a0
These
\u00a0
assets
\u00a0
are
\u00a0
amortized
\u00a0
on
\u00a0
a
\u00a0
straight
\u00a0
-line
\u00a0
basis
\u00a0
over
\u00a0
their
expected
\u00a0
useful
\u00a0
lifetime,
\u00a0
which
\u00a0
does
\u00a0
not
\u00a0
usually
\u00a0
exceed
\u00a0
five
\u00a0
years.
\u00a0
Impairment
\u00a0
of
\u00a0
assets
\u00a0
The
\u00a0
carrying
\u00a0
amounts
\u00a0
of
\u00a0
non-current
\u00a0
intangible
\u00a0
assets
\u00a0
and
\u00a0
tangible
\u00a0
assets
\u00a0
are
\u00a0
reviewed
\u00a0
for
\u00a0
impairment
\u00a0
at
\u00a0
each
\u00a0
reporting
\u00a0
date
\u00a0
or
\u00a0
whenever
\u00a0
there
\u00a0
is
\u00a0
indication
\u00a0
of
\u00a0
that
\u00a0
the
\u00a0
carrying
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
asset
may
\u00a0
not
\u00a0
be
\u00a0
recoverable.
\u00a0
Impairment
\u00a0
test
\u00a0
involves
\u00a0
estimating
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
asset,
\u00a0
subject
\u00a0
to
\u00a0
testing.
\u00a0
The
\u00a0
recoverable
\u00a0
amount
\u00a0
is
\u00a0
the
\u00a0
higher
\u00a0
of
\u00a0
the
\u00a0
asset\u2019s
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
cost
\u00a0
of
disposal
\u00a0
and
\u00a0
the
\u00a0
value
\u00a0
in
\u00a0
use.
\u00a0
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognized
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
whenever
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
exceeds
\u00a0
the
\u00a0
recoverable
\u00a0
amount.
A
\u00a0
previously
\u00a0
recognized
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
reversed
\u00a0
only
\u00a0
if
\u00a0
there
\u00a0
has
\u00a0
been
\u00a0
a
\u00a0
significant
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
estimates
\u00a0
used
\u00a0
to
\u00a0
determine
\u00a0
the
\u00a0
recoverable
\u00a0
amount,
\u00a0
but
\u00a0
not,
\u00a0
however,
\u00a0
to
\u00a0
an
\u00a0
amount
higher
\u00a0
than
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
that
\u00a0
would
\u00a0
have
\u00a0
been
\u00a0
determined
\u00a0
without
\u00a0
the
\u00a0
impairment
\u00a0
loss
\u00a0
recognized
\u00a0
in
\u00a0
prior
\u00a0
years,
\u00a0
deducted
\u00a0
by
\u00a0
accumulated
\u00a0
depreciation.
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Intangible
\u00a0
assets,
\u00a0
MEUR
\u00a0
Maintenance
\u00a0
contracts
Other
Total
Opening
\u00a0
gross
\u00a0
acquisition
\u00a0
cost
471.6
260.1
731.7
Opening
\u00a0
accumulated
\u00a0
amortization
\u00a0
and
\u00a0
impairment
-285.9
-229.0
-514.9
Opening
\u00a0
net
\u00a0
book
\u00a0
value
185.8
31.1
216.9
Opening
\u00a0
net
\u00a0
book
\u00a0
value
185.8
31.1
216.9
Translation
\u00a0
differences
0.3
-0.5
-0.2
Increase
3.7
10.9
14.6
Decrease
-0.2
0.0
-0.2
Reclassifications
-
0.4
0.4
Companies
\u00a0
acquired
\u00a0
(note
\u00a0
4.1)
26.2
0.0
26.2
Amortization
-39.5
-10.0
-49.5
Closing
\u00a0
net
\u00a0
book
\u00a0
value
176.3
31.9
208.2
Closing
\u00a0
gross
\u00a0
acquisition
\u00a0
cost
501.6
256.2
757.8
Closing
\u00a0
accumulated
\u00a0
amortization
\u00a0
and
\u00a0
impairment
-325.4
-224.2
-549.6
Closing
\u00a0
net
\u00a0
book
\u00a0
value
176.3
31.9
208.2
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Intangible
\u00a0
assets,
\u00a0
MEUR
\u00a0
Maintenance
\u00a0
contracts
Other
Total
Opening
\u00a0
gross
\u00a0
acquisition
\u00a0
cost
439.5
261.8
701.3
Opening
\u00a0
accumulated
\u00a0
amortization
\u00a0
and
\u00a0
impairment
-249.5
-228.6
-478.1
Opening
\u00a0
net
\u00a0
book
\u00a0
value
190.0
33.2
223.2
Opening
\u00a0
net
\u00a0
book
\u00a0
value
190.0
33.2
223.2
Translation
\u00a0
differences
6.5
1.7
8.3
Increase
2.8
8.7
11.5
Decrease
-
-1.4
-1.4
Companies
\u00a0
acquired
\u00a0
(note
\u00a0
4.1)
22.7
0.2
22.9
Amortization
-36.4
-11.3
-47.7
Closing
\u00a0
net
\u00a0
book
\u00a0
value
185.8
31.1
216.9
Closing
\u00a0
gross
\u00a0
acquisition
\u00a0
cost
471.6
260.1
731.7
Closing
\u00a0
accumulated
\u00a0
amortization
\u00a0
and
\u00a0
impairment
-285.9
-229.0
-514.9
Closing
\u00a0
net
\u00a0
book
\u00a0
value
185.8
31.1
216.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_63": { "value": "
Accounting
\u00a0
principles
Goodwill
Acquisitions
\u00a0
are
\u00a0
accounted
\u00a0
for
\u00a0
using
\u00a0
the
\u00a0
acquisition
\u00a0
method.
\u00a0
Goodwill
\u00a0
is
\u00a0
calculated
\u00a0
as
\u00a0
the
\u00a0
excess
\u00a0
of
\u00a0
acquisition
\u00a0
cost
\u00a0
over
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
identified
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
acquired.
\u00a0
Goodwill
\u00a0
typically
represents
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
acquired
\u00a0
market
\u00a0
share,
\u00a0
business
\u00a0
knowledge
\u00a0
and
\u00a0
the
\u00a0
synergies
\u00a0
obtained
\u00a0
in
\u00a0
connection
\u00a0
with
\u00a0
the
\u00a0
acquisition.
\u00a0
The
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
goodwill
\u00a0
is
\u00a0
not
\u00a0
amortized,
\u00a0
but
\u00a0
is
\u00a0
tested
for
\u00a0
impairment.
Impairment
\u00a0
testing
The
\u00a0
Group
\u00a0
assesses
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
goodwill
\u00a0
annually
\u00a0
or
\u00a0
more
\u00a0
frequently
\u00a0
if
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
exists.
\u00a0
Goodwill
\u00a0
is
\u00a0
allocated
\u00a0
to
\u00a0
the
\u00a0
cash
\u00a0
generating
\u00a0
units
\u00a0
(CGUs)
\u00a0
of
\u00a0
the
\u00a0
Group,
\u00a0
which
are
\u00a0
identified
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
country
\u00a0
of
\u00a0
operation
\u00a0
and
\u00a0
business
\u00a0
area
\u00a0
at
\u00a0
the
\u00a0
level
\u00a0
at
\u00a0
which
\u00a0
goodwill
\u00a0
is
\u00a0
monitored
\u00a0
for
\u00a0
internal
\u00a0
management
\u00a0
purposes.
\u00a0
The
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
a
\u00a0
CGU
\u00a0
is
determined
\u00a0
by
\u00a0
value-in-use
\u00a0
calculations.
\u00a0
In
\u00a0
assessing
\u00a0
the
\u00a0
recoverable
\u00a0
amount,
\u00a0
estimated
\u00a0
future
\u00a0
cash
\u00a0
flows
\u00a0
are
\u00a0
discounted
\u00a0
to
\u00a0
their
\u00a0
present
\u00a0
value.
\u00a0
Cash
\u00a0
flow
\u00a0
estimates
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
estimates.
\u00a0
The
\u00a0
discount
\u00a0
rate
\u00a0
is
\u00a0
the
\u00a0
weighted
\u00a0
average
\u00a0
cost
\u00a0
of
\u00a0
capital
\u00a0
(WACC)
\u00a0
for
\u00a0
the
\u00a0
main
\u00a0
currency
\u00a0
area
\u00a0
in
\u00a0
the
\u00a0
location
\u00a0
of
\u00a0
the
\u00a0
CGU
\u00a0
(country
\u00a0
or
\u00a0
business
\u00a0
area),
\u00a0
which
\u00a0
reflects
\u00a0
the
\u00a0
market
\u00a0
assessment
of
\u00a0
the
\u00a0
time
\u00a0
value
\u00a0
of
\u00a0
money
\u00a0
and
\u00a0
the
\u00a0
risks
\u00a0
specific
\u00a0
in
\u00a0
KONE\u2019s
\u00a0
business.
Any
\u00a0
impairment
\u00a0
loss
\u00a0
of
\u00a0
goodwill
\u00a0
is
\u00a0
recognized
\u00a0
immediately
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
and
\u00a0
is
\u00a0
not
\u00a0
subsequently
\u00a0
reversed.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_61": { "value": "
Accounting
\u00a0
principles
Goodwill
Acquisitions
\u00a0
are
\u00a0
accounted
\u00a0
for
\u00a0
using
\u00a0
the
\u00a0
acquisition
\u00a0
method.
\u00a0
Goodwill
\u00a0
is
\u00a0
calculated
\u00a0
as
\u00a0
the
\u00a0
excess
\u00a0
of
\u00a0
acquisition
\u00a0
cost
\u00a0
over
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
identified
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
acquired.
\u00a0
Goodwill
\u00a0
typically
represents
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
acquired
\u00a0
market
\u00a0
share,
\u00a0
business
\u00a0
knowledge
\u00a0
and
\u00a0
the
\u00a0
synergies
\u00a0
obtained
\u00a0
in
\u00a0
connection
\u00a0
with
\u00a0
the
\u00a0
acquisition.
\u00a0
The
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
goodwill
\u00a0
is
\u00a0
not
\u00a0
amortized,
\u00a0
but
\u00a0
is
\u00a0
tested
for
\u00a0
impairment.
Impairment
\u00a0
testing
The
\u00a0
Group
\u00a0
assesses
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
goodwill
\u00a0
annually
\u00a0
or
\u00a0
more
\u00a0
frequently
\u00a0
if
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
exists.
\u00a0
Goodwill
\u00a0
is
\u00a0
allocated
\u00a0
to
\u00a0
the
\u00a0
cash
\u00a0
generating
\u00a0
units
\u00a0
(CGUs)
\u00a0
of
\u00a0
the
\u00a0
Group,
\u00a0
which
are
\u00a0
identified
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
country
\u00a0
of
\u00a0
operation
\u00a0
and
\u00a0
business
\u00a0
area
\u00a0
at
\u00a0
the
\u00a0
level
\u00a0
at
\u00a0
which
\u00a0
goodwill
\u00a0
is
\u00a0
monitored
\u00a0
for
\u00a0
internal
\u00a0
management
\u00a0
purposes.
\u00a0
The
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
a
\u00a0
CGU
\u00a0
is
determined
\u00a0
by
\u00a0
value-in-use
\u00a0
calculations.
\u00a0
In
\u00a0
assessing
\u00a0
the
\u00a0
recoverable
\u00a0
amount,
\u00a0
estimated
\u00a0
future
\u00a0
cash
\u00a0
flows
\u00a0
are
\u00a0
discounted
\u00a0
to
\u00a0
their
\u00a0
present
\u00a0
value.
\u00a0
Cash
\u00a0
flow
\u00a0
estimates
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
estimates.
\u00a0
The
\u00a0
discount
\u00a0
rate
\u00a0
is
\u00a0
the
\u00a0
weighted
\u00a0
average
\u00a0
cost
\u00a0
of
\u00a0
capital
\u00a0
(WACC)
\u00a0
for
\u00a0
the
\u00a0
main
\u00a0
currency
\u00a0
area
\u00a0
in
\u00a0
the
\u00a0
location
\u00a0
of
\u00a0
the
\u00a0
CGU
\u00a0
(country
\u00a0
or
\u00a0
business
\u00a0
area),
\u00a0
which
\u00a0
reflects
\u00a0
the
\u00a0
market
\u00a0
assessment
of
\u00a0
the
\u00a0
time
\u00a0
value
\u00a0
of
\u00a0
money
\u00a0
and
\u00a0
the
\u00a0
risks
\u00a0
specific
\u00a0
in
\u00a0
KONE\u2019s
\u00a0
business.
Any
\u00a0
impairment
\u00a0
loss
\u00a0
of
\u00a0
goodwill
\u00a0
is
\u00a0
recognized
\u00a0
immediately
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
and
\u00a0
is
\u00a0
not
\u00a0
subsequently
\u00a0
reversed.
Goodwill,
\u00a0
MEUR
Dec
\u00a0
31,
\u00a0
2022
%
Discount
\u00a0
rates
\u00a0
used
(pre-tax),
\u00a0
%
Dec
\u00a0
31,
\u00a0
2021
%
Discount
\u00a0
rates
\u00a0
used
(pre-tax),
\u00a0
%
EMEA
809.5
57
8.23
814.9
58
5.52
Americas
368.1
26
10.05
349.0
25
7.22
Asia
\u00a0
-Pacific
237.1
17
10.17
241.4
17
8.91
Total
1,414.7
1,405.2
Goodwill
\u00a0
reconciliation
Goodwill,
\u00a0
MEUR
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Opening
\u00a0
net
\u00a0
book
\u00a0
value
1,405.2
1,327.0
Translation
\u00a0
differences
8.2
58.6
Increase
3.5
-
Decrease
-6.1
-0.9
Companies
\u00a0
acquired
\u00a0
(note
\u00a0
4.1)
4.0
20.5
Closing
\u00a0
net
\u00a0
book
\u00a0
value
1,414.7
1,405.2
4.2
\u00a0
GOODWILL
Goodwill
\u00a0
allocation
Goodwill
\u00a0
is
\u00a0
allocated
\u00a0
to
\u00a0
cash-generating
\u00a0
units
\u00a0
(CGUs).
\u00a0
A
\u00a0
cash
\u00a0
generating
\u00a0
unit
\u00a0
is
\u00a0
typically
\u00a0
defined
\u00a0
as
\u00a0
the
\u00a0
country
\u00a0
unit
\u00a0
in
\u00a0
which
\u00a0
the
\u00a0
acquired
\u00a0
business
\u00a0
operates
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
KONE\u2019s
\u00a0
business
model
\u00a0
and
\u00a0
organization
\u00a0
structure.
\u00a0
As
\u00a0
at
\u00a0
Dec
\u00a0
31,
\u00a0
2022
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
goodwill
\u00a0
is
\u00a0
allocated
\u00a0
to
\u00a0
23
\u00a0
different
\u00a0
CGUs.
\u00a0
The
\u00a0
five
\u00a0
largest
\u00a0
CGUs
\u00a0
carry
\u00a0
75%
\u00a0
of
\u00a0
the
\u00a0
goodwill.
\u00a0
The
\u00a0
carrying
\u00a0
amount
\u00a0
of
goodwill
\u00a0
is
\u00a0
below
\u00a0
EUR
\u00a0
10
\u00a0
million
\u00a0
for
\u00a0
9
\u00a0
CGUs.
\u00a0
The
\u00a0
geographical
\u00a0
allocation
\u00a0
of
\u00a0
goodwill
\u00a0
and
\u00a0
the
\u00a0
weighted
\u00a0
average
\u00a0
discount
\u00a0
rates
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
adjacent
\u00a0
table.
Impairment
\u00a0
testing
The
\u00a0
value-in-use
\u00a0
calculations
\u00a0
have
\u00a0
been
\u00a0
prepared
\u00a0
utilizing
\u00a0
cash
\u00a0
flow
\u00a0
projections
\u00a0
that
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
CGU
\u00a0
specific
\u00a0
financial
\u00a0
estimates
\u00a0
approved
\u00a0
by
\u00a0
the
\u00a0
Group
\u00a0
management.
\u00a0
The
\u00a0
explicit
\u00a0
forecast
\u00a0
period
covers
\u00a0
the
\u00a0
following
\u00a0
three
\u00a0
years
\u00a0
for
\u00a0
each
\u00a0
CGU.
The
\u00a0
business
\u00a0
growth,
\u00a0
sales
\u00a0
price
\u00a0
and
\u00a0
cost
\u00a0
development
\u00a0
assumptions
\u00a0
embedded
\u00a0
in
\u00a0
the
\u00a0
CGU
\u00a0
specific
\u00a0
cash
\u00a0
flow
\u00a0
projections
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
management
\u00a0
assessment
\u00a0
of
\u00a0
the
\u00a0
market
\u00a0
demand
\u00a0
and
environment,
\u00a0
which
\u00a0
are
\u00a0
examined
\u00a0
against
\u00a0
external
\u00a0
information
\u00a0
sources.
\u00a0
The
\u00a0
productivity
\u00a0
and
\u00a0
efficiency
\u00a0
assumptions
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
internal
\u00a0
targets,
\u00a0
which
\u00a0
are
\u00a0
evaluated
\u00a0
against
\u00a0
actual
\u00a0
performance.
The
\u00a0
cash
\u00a0
flows
\u00a0
for
\u00a0
subsequent
\u00a0
terminal
\u00a0
year
\u00a0
are
\u00a0
assumed
\u00a0
prudently
\u00a0
without
\u00a0
growth,
\u00a0
except
\u00a0
as
\u00a0
stated
\u00a0
below.
\u00a0
The
\u00a0
discount
\u00a0
rates
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
risk-free
\u00a0
interest
\u00a0
rates,
\u00a0
risk
\u00a0
factors
\u00a0
(beta
\u00a0
coefficient)
\u00a0
and
\u00a0
market
\u00a0
risk
\u00a0
premiums
\u00a0
available
\u00a0
on
\u00a0
financial
\u00a0
markets.
\u00a0
The
\u00a0
value-in-use
\u00a0
calculations
\u00a0
are
\u00a0
validated
\u00a0
against
KONE\u2019s
\u00a0
market
\u00a0
capitalization.
\u00a0
Compared
\u00a0
to
\u00a0
previous
\u00a0
year,
\u00a0
the
\u00a0
most
\u00a0
significant
\u00a0
change
\u00a0
affecting
\u00a0
the
\u00a0
cash
\u00a0
flow
\u00a0
projections
\u00a0
has
\u00a0
concerned
\u00a0
the
\u00a0
deterioration
\u00a0
of
\u00a0
new
\u00a0
equipment
\u00a0
market
\u00a0
in
\u00a0
China
\u00a0
where
\u00a0
goodwill
\u00a0
is
\u00a0
carried
\u00a0
related
\u00a0
to
KONE's
\u00a0
second
\u00a0
brand
\u00a0
business.
\u00a0
The
\u00a0
operating
\u00a0
environment
\u00a0
having
\u00a0
seen
\u00a0
big
\u00a0
changes,
\u00a0
assumptions
\u00a0
specific
\u00a0
to
\u00a0
this
\u00a0
CGU
\u00a0
have
\u00a0
been
\u00a0
revised
\u00a0
when
\u00a0
estimating
\u00a0
the
\u00a0
value
\u00a0
in
\u00a0
use,
\u00a0
including
\u00a0
country
\u00a0
risk
premium
\u00a0
and
\u00a0
terminal
\u00a0
growth
\u00a0
rate
\u00a0
that
\u00a0
has
\u00a0
been
\u00a0
increased
\u00a0
to
\u00a0
better
\u00a0
align
\u00a0
with
\u00a0
local
\u00a0
inflation.
\u00a0
As
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
the
\u00a0
annual
\u00a0
impairment
\u00a0
test,
\u00a0
the
\u00a0
goodwill
\u00a0
for
\u00a0
one
\u00a0
CGU
\u00a0
in
\u00a0
EMEA
\u00a0
in
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
EUR
\u00a0
1.0
\u00a0
million,
\u00a0
was
\u00a0
fully
\u00a0
impaired.
\u00a0
Additionally,
\u00a0
EUR
\u00a0
2.8
\u00a0
million
\u00a0
of
\u00a0
goodwill
\u00a0
attached
\u00a0
to
\u00a0
operations
\u00a0
in
Russia
\u00a0
was
\u00a0
impaired
\u00a0
during
\u00a0
2022
\u00a0
when
\u00a0
the
\u00a0
business
\u00a0
was
\u00a0
reclassified
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale.
\u00a0
The
\u00a0
impairment
\u00a0
testing
\u00a0
process
\u00a0
includes
\u00a0
a
\u00a0
sensitivity
\u00a0
analysis
\u00a0
in
\u00a0
which
\u00a0
the
\u00a0
CGU
\u00a0
specific
\u00a0
cash
\u00a0
flow
\u00a0
estimates
\u00a0
were
\u00a0
reduced
\u00a0
by
\u00a0
10\u201340
\u00a0
percent
\u00a0
and
\u00a0
the
\u00a0
discount
\u00a0
rates
\u00a0
were
\u00a0
increased
\u00a0
by
\u00a0
1\u20134
percentage
\u00a0
points.
\u00a0
Based
\u00a0
on
\u00a0
the
\u00a0
sensitivity
\u00a0
analysis,
\u00a0
the
\u00a0
probability
\u00a0
for
\u00a0
material
\u00a0
impairment
\u00a0
losses
\u00a0
was
\u00a0
very
\u00a0
low
\u00a0
in
\u00a0
all
\u00a0
other
\u00a0
CGUs,
\u00a0
except
\u00a0
for
\u00a0
the
\u00a0
second
\u00a0
brand
\u00a0
CGU
\u00a0
in
\u00a0
China
\u00a0
where
\u00a0
the
\u00a0
value
\u00a0
in
\u00a0
use
with
\u00a0
the
\u00a0
base
\u00a0
scenario
\u00a0
approximates
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
assets
\u00a0
employed
\u00a0
by
\u00a0
the
\u00a0
CGU.
\u00a0
Even
\u00a0
small
\u00a0
deterioration
\u00a0
in
\u00a0
future
\u00a0
cashflow
\u00a0
or
\u00a0
adverse
\u00a0
change
\u00a0
in
\u00a0
calculation
\u00a0
assumptions
\u00a0
would
\u00a0
result
\u00a0
in
\u00a0
recognition
of
\u00a0
impairment
\u00a0
charge
\u00a0
for
\u00a0
the
\u00a0
China
\u00a0
second
\u00a0
brand
\u00a0
CGU.
\u00a0
Due
\u00a0
to
\u00a0
this
\u00a0
sensitivity,
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
cost
\u00a0
to
\u00a0
sell
\u00a0
analysis
\u00a0
has
\u00a0
further
\u00a0
been
\u00a0
prepared
\u00a0
for
\u00a0
the
\u00a0
CGU
\u00a0
to
\u00a0
validate
\u00a0
the
\u00a0
outcome
\u00a0
from
\u00a0
value
\u00a0
in
\u00a0
use
analysis.
\u00a0
This
\u00a0
analysis
\u00a0
supports
\u00a0
the
\u00a0
recoverable
\u00a0
value
\u00a0
provided
\u00a0
by
\u00a0
the
\u00a0
base
\u00a0
scenario.
\u00a0
On
\u00a0
December
\u00a0
31,
\u00a0
2022
\u00a0
goodwill
\u00a0
carried
\u00a0
by
\u00a0
respective
\u00a0
CGU
\u00a0
amounts
\u00a0
to
\u00a0
EUR
\u00a0
190.9
\u00a0
million.
\u00a0
Under
\u00a0
the
\u00a0
basic
\u00a0
scenario
\u00a0
for
\u00a0
other
\u00a0
CGUs,
\u00a0
the
\u00a0
value-in-use
\u00a0
calculations
\u00a0
were
\u00a0
on
\u00a0
average
\u00a0
7.5
\u00a0
times
\u00a0
higher
\u00a0
than
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
CGUs\u2019
\u00a0
assets
\u00a0
employed.
\u00a0
The
\u00a0
respective
\u00a0
ratio
\u00a0
for
\u00a0
the
\u00a0
five
\u00a0
largest
\u00a0
CGUs
was
\u00a0
6.3;
\u00a0
for
\u00a0
the
\u00a0
five
\u00a0
smallest
\u00a0
12.2
\u00a0
and
\u00a0
respectively
\u00a0
for
\u00a0
the
\u00a0
other
\u00a0
CGUs
\u00a0
9.7.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_60": { "value": "
Accounting
\u00a0
principles
Goodwill
Acquisitions
\u00a0
are
\u00a0
accounted
\u00a0
for
\u00a0
using
\u00a0
the
\u00a0
acquisition
\u00a0
method.
\u00a0
Goodwill
\u00a0
is
\u00a0
calculated
\u00a0
as
\u00a0
the
\u00a0
excess
\u00a0
of
\u00a0
acquisition
\u00a0
cost
\u00a0
over
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
identified
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
acquired.
\u00a0
Goodwill
\u00a0
typically
represents
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
acquired
\u00a0
market
\u00a0
share,
\u00a0
business
\u00a0
knowledge
\u00a0
and
\u00a0
the
\u00a0
synergies
\u00a0
obtained
\u00a0
in
\u00a0
connection
\u00a0
with
\u00a0
the
\u00a0
acquisition.
\u00a0
The
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
goodwill
\u00a0
is
\u00a0
not
\u00a0
amortized,
\u00a0
but
\u00a0
is
\u00a0
tested
for
\u00a0
impairment.
Impairment
\u00a0
testing
The
\u00a0
Group
\u00a0
assesses
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
goodwill
\u00a0
annually
\u00a0
or
\u00a0
more
\u00a0
frequently
\u00a0
if
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
exists.
\u00a0
Goodwill
\u00a0
is
\u00a0
allocated
\u00a0
to
\u00a0
the
\u00a0
cash
\u00a0
generating
\u00a0
units
\u00a0
(CGUs)
\u00a0
of
\u00a0
the
\u00a0
Group,
\u00a0
which
are
\u00a0
identified
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
country
\u00a0
of
\u00a0
operation
\u00a0
and
\u00a0
business
\u00a0
area
\u00a0
at
\u00a0
the
\u00a0
level
\u00a0
at
\u00a0
which
\u00a0
goodwill
\u00a0
is
\u00a0
monitored
\u00a0
for
\u00a0
internal
\u00a0
management
\u00a0
purposes.
\u00a0
The
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
a
\u00a0
CGU
\u00a0
is
determined
\u00a0
by
\u00a0
value-in-use
\u00a0
calculations.
\u00a0
In
\u00a0
assessing
\u00a0
the
\u00a0
recoverable
\u00a0
amount,
\u00a0
estimated
\u00a0
future
\u00a0
cash
\u00a0
flows
\u00a0
are
\u00a0
discounted
\u00a0
to
\u00a0
their
\u00a0
present
\u00a0
value.
\u00a0
Cash
\u00a0
flow
\u00a0
estimates
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
estimates.
\u00a0
The
\u00a0
discount
\u00a0
rate
\u00a0
is
\u00a0
the
\u00a0
weighted
\u00a0
average
\u00a0
cost
\u00a0
of
\u00a0
capital
\u00a0
(WACC)
\u00a0
for
\u00a0
the
\u00a0
main
\u00a0
currency
\u00a0
area
\u00a0
in
\u00a0
the
\u00a0
location
\u00a0
of
\u00a0
the
\u00a0
CGU
\u00a0
(country
\u00a0
or
\u00a0
business
\u00a0
area),
\u00a0
which
\u00a0
reflects
\u00a0
the
\u00a0
market
\u00a0
assessment
of
\u00a0
the
\u00a0
time
\u00a0
value
\u00a0
of
\u00a0
money
\u00a0
and
\u00a0
the
\u00a0
risks
\u00a0
specific
\u00a0
in
\u00a0
KONE\u2019s
\u00a0
business.
Any
\u00a0
impairment
\u00a0
loss
\u00a0
of
\u00a0
goodwill
\u00a0
is
\u00a0
recognized
\u00a0
immediately
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
and
\u00a0
is
\u00a0
not
\u00a0
subsequently
\u00a0
reversed.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_12": { "value": "
4.3
\u00a0
INTANGIBLE
\u00a0
ASSETS
Accounting
\u00a0
principles
Intangible
\u00a0
assets
Intangible
\u00a0
assets
\u00a0
identified
\u00a0
in
\u00a0
connection
\u00a0
with
\u00a0
acquisitions
\u00a0
are
\u00a0
amortized
\u00a0
on
\u00a0
a
\u00a0
straight
\u00a0
-line
\u00a0
basis
\u00a0
over
\u00a0
their
\u00a0
expected
\u00a0
useful
\u00a0
lifetime.
\u00a0
KONE
\u00a0
often
\u00a0
acquires
\u00a0
small
\u00a0
elevator,
\u00a0
escalator
\u00a0
and
\u00a0
door
\u00a0
service
companies,
\u00a0
where
\u00a0
the
\u00a0
excess
\u00a0
of
\u00a0
consideration
\u00a0
transferred
\u00a0
over
\u00a0
the
\u00a0
net
\u00a0
assets
\u00a0
of
\u00a0
the
\u00a0
acquiree
\u00a0
as
\u00a0
at
\u00a0
closing
\u00a0
is
\u00a0
allocated
\u00a0
to
\u00a0
the
\u00a0
acquired
\u00a0
maintenance
\u00a0
contracts.
\u00a0
The
\u00a0
acquired
\u00a0
maintenance
\u00a0
contracts
are
\u00a0
typically
\u00a0
amortized
\u00a0
over
\u00a0
ten
\u00a0
years.
Intangible
\u00a0
assets
\u00a0
also
\u00a0
include
\u00a0
expenditure
\u00a0
on
\u00a0
acquired
\u00a0
patents,
\u00a0
trademarks
\u00a0
and
\u00a0
licenses,
\u00a0
including
\u00a0
acquired
\u00a0
software
\u00a0
licenses.
\u00a0
These
\u00a0
assets
\u00a0
are
\u00a0
amortized
\u00a0
on
\u00a0
a
\u00a0
straight
\u00a0
-line
\u00a0
basis
\u00a0
over
\u00a0
their
expected
\u00a0
useful
\u00a0
lifetime,
\u00a0
which
\u00a0
does
\u00a0
not
\u00a0
usually
\u00a0
exceed
\u00a0
five
\u00a0
years.
\u00a0
Impairment
\u00a0
of
\u00a0
assets
\u00a0
The
\u00a0
carrying
\u00a0
amounts
\u00a0
of
\u00a0
non-current
\u00a0
intangible
\u00a0
assets
\u00a0
and
\u00a0
tangible
\u00a0
assets
\u00a0
are
\u00a0
reviewed
\u00a0
for
\u00a0
impairment
\u00a0
at
\u00a0
each
\u00a0
reporting
\u00a0
date
\u00a0
or
\u00a0
whenever
\u00a0
there
\u00a0
is
\u00a0
indication
\u00a0
of
\u00a0
that
\u00a0
the
\u00a0
carrying
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
asset
may
\u00a0
not
\u00a0
be
\u00a0
recoverable.
\u00a0
Impairment
\u00a0
test
\u00a0
involves
\u00a0
estimating
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
asset,
\u00a0
subject
\u00a0
to
\u00a0
testing.
\u00a0
The
\u00a0
recoverable
\u00a0
amount
\u00a0
is
\u00a0
the
\u00a0
higher
\u00a0
of
\u00a0
the
\u00a0
asset\u2019s
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
cost
\u00a0
of
disposal
\u00a0
and
\u00a0
the
\u00a0
value
\u00a0
in
\u00a0
use.
\u00a0
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognized
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
whenever
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
exceeds
\u00a0
the
\u00a0
recoverable
\u00a0
amount.
A
\u00a0
previously
\u00a0
recognized
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
reversed
\u00a0
only
\u00a0
if
\u00a0
there
\u00a0
has
\u00a0
been
\u00a0
a
\u00a0
significant
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
estimates
\u00a0
used
\u00a0
to
\u00a0
determine
\u00a0
the
\u00a0
recoverable
\u00a0
amount,
\u00a0
but
\u00a0
not,
\u00a0
however,
\u00a0
to
\u00a0
an
\u00a0
amount
higher
\u00a0
than
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
that
\u00a0
would
\u00a0
have
\u00a0
been
\u00a0
determined
\u00a0
without
\u00a0
the
\u00a0
impairment
\u00a0
loss
\u00a0
recognized
\u00a0
in
\u00a0
prior
\u00a0
years,
\u00a0
deducted
\u00a0
by
\u00a0
accumulated
\u00a0
depreciation.
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Intangible
\u00a0
assets,
\u00a0
MEUR
\u00a0
Maintenance
\u00a0
contracts
Other
Total
Opening
\u00a0
gross
\u00a0
acquisition
\u00a0
cost
471.6
260.1
731.7
Opening
\u00a0
accumulated
\u00a0
amortization
\u00a0
and
\u00a0
impairment
-285.9
-229.0
-514.9
Opening
\u00a0
net
\u00a0
book
\u00a0
value
185.8
31.1
216.9
Opening
\u00a0
net
\u00a0
book
\u00a0
value
185.8
31.1
216.9
Translation
\u00a0
differences
0.3
-0.5
-0.2
Increase
3.7
10.9
14.6
Decrease
-0.2
0.0
-0.2
Reclassifications
-
0.4
0.4
Companies
\u00a0
acquired
\u00a0
(note
\u00a0
4.1)
26.2
0.0
26.2
Amortization
-39.5
-10.0
-49.5
Closing
\u00a0
net
\u00a0
book
\u00a0
value
176.3
31.9
208.2
Closing
\u00a0
gross
\u00a0
acquisition
\u00a0
cost
501.6
256.2
757.8
Closing
\u00a0
accumulated
\u00a0
amortization
\u00a0
and
\u00a0
impairment
-325.4
-224.2
-549.6
Closing
\u00a0
net
\u00a0
book
\u00a0
value
176.3
31.9
208.2
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Intangible
\u00a0
assets,
\u00a0
MEUR
\u00a0
Maintenance
\u00a0
contracts
Other
Total
Opening
\u00a0
gross
\u00a0
acquisition
\u00a0
cost
439.5
261.8
701.3
Opening
\u00a0
accumulated
\u00a0
amortization
\u00a0
and
\u00a0
impairment
-249.5
-228.6
-478.1
Opening
\u00a0
net
\u00a0
book
\u00a0
value
190.0
33.2
223.2
Opening
\u00a0
net
\u00a0
book
\u00a0
value
190.0
33.2
223.2
Translation
\u00a0
differences
6.5
1.7
8.3
Increase
2.8
8.7
11.5
Decrease
-
-1.4
-1.4
Companies
\u00a0
acquired
\u00a0
(note
\u00a0
4.1)
22.7
0.2
22.9
Amortization
-36.4
-11.3
-47.7
Closing
\u00a0
net
\u00a0
book
\u00a0
value
185.8
31.1
216.9
Closing
\u00a0
gross
\u00a0
acquisition
\u00a0
cost
471.6
260.1
731.7
Closing
\u00a0
accumulated
\u00a0
amortization
\u00a0
and
\u00a0
impairment
-285.9
-229.0
-514.9
Closing
\u00a0
net
\u00a0
book
\u00a0
value
185.8
31.1
216.9
Accounting
\u00a0
principles
Goodwill
Acquisitions
\u00a0
are
\u00a0
accounted
\u00a0
for
\u00a0
using
\u00a0
the
\u00a0
acquisition
\u00a0
method.
\u00a0
Goodwill
\u00a0
is
\u00a0
calculated
\u00a0
as
\u00a0
the
\u00a0
excess
\u00a0
of
\u00a0
acquisition
\u00a0
cost
\u00a0
over
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
identified
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
acquired.
\u00a0
Goodwill
\u00a0
typically
represents
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
acquired
\u00a0
market
\u00a0
share,
\u00a0
business
\u00a0
knowledge
\u00a0
and
\u00a0
the
\u00a0
synergies
\u00a0
obtained
\u00a0
in
\u00a0
connection
\u00a0
with
\u00a0
the
\u00a0
acquisition.
\u00a0
The
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
goodwill
\u00a0
is
\u00a0
not
\u00a0
amortized,
\u00a0
but
\u00a0
is
\u00a0
tested
for
\u00a0
impairment.
Impairment
\u00a0
testing
The
\u00a0
Group
\u00a0
assesses
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
goodwill
\u00a0
annually
\u00a0
or
\u00a0
more
\u00a0
frequently
\u00a0
if
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
exists.
\u00a0
Goodwill
\u00a0
is
\u00a0
allocated
\u00a0
to
\u00a0
the
\u00a0
cash
\u00a0
generating
\u00a0
units
\u00a0
(CGUs)
\u00a0
of
\u00a0
the
\u00a0
Group,
\u00a0
which
are
\u00a0
identified
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
country
\u00a0
of
\u00a0
operation
\u00a0
and
\u00a0
business
\u00a0
area
\u00a0
at
\u00a0
the
\u00a0
level
\u00a0
at
\u00a0
which
\u00a0
goodwill
\u00a0
is
\u00a0
monitored
\u00a0
for
\u00a0
internal
\u00a0
management
\u00a0
purposes.
\u00a0
The
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
a
\u00a0
CGU
\u00a0
is
determined
\u00a0
by
\u00a0
value-in-use
\u00a0
calculations.
\u00a0
In
\u00a0
assessing
\u00a0
the
\u00a0
recoverable
\u00a0
amount,
\u00a0
estimated
\u00a0
future
\u00a0
cash
\u00a0
flows
\u00a0
are
\u00a0
discounted
\u00a0
to
\u00a0
their
\u00a0
present
\u00a0
value.
\u00a0
Cash
\u00a0
flow
\u00a0
estimates
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
estimates.
\u00a0
The
\u00a0
discount
\u00a0
rate
\u00a0
is
\u00a0
the
\u00a0
weighted
\u00a0
average
\u00a0
cost
\u00a0
of
\u00a0
capital
\u00a0
(WACC)
\u00a0
for
\u00a0
the
\u00a0
main
\u00a0
currency
\u00a0
area
\u00a0
in
\u00a0
the
\u00a0
location
\u00a0
of
\u00a0
the
\u00a0
CGU
\u00a0
(country
\u00a0
or
\u00a0
business
\u00a0
area),
\u00a0
which
\u00a0
reflects
\u00a0
the
\u00a0
market
\u00a0
assessment
of
\u00a0
the
\u00a0
time
\u00a0
value
\u00a0
of
\u00a0
money
\u00a0
and
\u00a0
the
\u00a0
risks
\u00a0
specific
\u00a0
in
\u00a0
KONE\u2019s
\u00a0
business.
Any
\u00a0
impairment
\u00a0
loss
\u00a0
of
\u00a0
goodwill
\u00a0
is
\u00a0
recognized
\u00a0
immediately
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
and
\u00a0
is
\u00a0
not
\u00a0
subsequently
\u00a0
reversed.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_7": { "value": "
Accounting
\u00a0
principles
Intangible
\u00a0
assets
Intangible
\u00a0
assets
\u00a0
identified
\u00a0
in
\u00a0
connection
\u00a0
with
\u00a0
acquisitions
\u00a0
are
\u00a0
amortized
\u00a0
on
\u00a0
a
\u00a0
straight
\u00a0
-line
\u00a0
basis
\u00a0
over
\u00a0
their
\u00a0
expected
\u00a0
useful
\u00a0
lifetime.
\u00a0
KONE
\u00a0
often
\u00a0
acquires
\u00a0
small
\u00a0
elevator,
\u00a0
escalator
\u00a0
and
\u00a0
door
\u00a0
service
companies,
\u00a0
where
\u00a0
the
\u00a0
excess
\u00a0
of
\u00a0
consideration
\u00a0
transferred
\u00a0
over
\u00a0
the
\u00a0
net
\u00a0
assets
\u00a0
of
\u00a0
the
\u00a0
acquiree
\u00a0
as
\u00a0
at
\u00a0
closing
\u00a0
is
\u00a0
allocated
\u00a0
to
\u00a0
the
\u00a0
acquired
\u00a0
maintenance
\u00a0
contracts.
\u00a0
The
\u00a0
acquired
\u00a0
maintenance
\u00a0
contracts
are
\u00a0
typically
\u00a0
amortized
\u00a0
over
\u00a0
ten
\u00a0
years.
Intangible
\u00a0
assets
\u00a0
also
\u00a0
include
\u00a0
expenditure
\u00a0
on
\u00a0
acquired
\u00a0
patents,
\u00a0
trademarks
\u00a0
and
\u00a0
licenses,
\u00a0
including
\u00a0
acquired
\u00a0
software
\u00a0
licenses.
\u00a0
These
\u00a0
assets
\u00a0
are
\u00a0
amortized
\u00a0
on
\u00a0
a
\u00a0
straight
\u00a0
-line
\u00a0
basis
\u00a0
over
\u00a0
their
expected
\u00a0
useful
\u00a0
lifetime,
\u00a0
which
\u00a0
does
\u00a0
not
\u00a0
usually
\u00a0
exceed
\u00a0
five
\u00a0
years.
\u00a0
Impairment
\u00a0
of
\u00a0
assets
\u00a0
The
\u00a0
carrying
\u00a0
amounts
\u00a0
of
\u00a0
non-current
\u00a0
intangible
\u00a0
assets
\u00a0
and
\u00a0
tangible
\u00a0
assets
\u00a0
are
\u00a0
reviewed
\u00a0
for
\u00a0
impairment
\u00a0
at
\u00a0
each
\u00a0
reporting
\u00a0
date
\u00a0
or
\u00a0
whenever
\u00a0
there
\u00a0
is
\u00a0
indication
\u00a0
of
\u00a0
that
\u00a0
the
\u00a0
carrying
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
asset
may
\u00a0
not
\u00a0
be
\u00a0
recoverable.
\u00a0
Impairment
\u00a0
test
\u00a0
involves
\u00a0
estimating
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
asset,
\u00a0
subject
\u00a0
to
\u00a0
testing.
\u00a0
The
\u00a0
recoverable
\u00a0
amount
\u00a0
is
\u00a0
the
\u00a0
higher
\u00a0
of
\u00a0
the
\u00a0
asset\u2019s
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
cost
\u00a0
of
disposal
\u00a0
and
\u00a0
the
\u00a0
value
\u00a0
in
\u00a0
use.
\u00a0
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognized
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
whenever
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
exceeds
\u00a0
the
\u00a0
recoverable
\u00a0
amount.
A
\u00a0
previously
\u00a0
recognized
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
reversed
\u00a0
only
\u00a0
if
\u00a0
there
\u00a0
has
\u00a0
been
\u00a0
a
\u00a0
significant
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
estimates
\u00a0
used
\u00a0
to
\u00a0
determine
\u00a0
the
\u00a0
recoverable
\u00a0
amount,
\u00a0
but
\u00a0
not,
\u00a0
however,
\u00a0
to
\u00a0
an
\u00a0
amount
higher
\u00a0
than
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
that
\u00a0
would
\u00a0
have
\u00a0
been
\u00a0
determined
\u00a0
without
\u00a0
the
\u00a0
impairment
\u00a0
loss
\u00a0
recognized
\u00a0
in
\u00a0
prior
\u00a0
years,
\u00a0
deducted
\u00a0
by
\u00a0
accumulated
\u00a0
depreciation.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_64": { "value": "
Accounting
\u00a0
principles
Property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
\u00a0
Property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
cost
\u00a0
less
\u00a0
accumulated
\u00a0
depreciation
\u00a0
and
\u00a0
any
\u00a0
impairment
\u00a0
losses,
\u00a0
when
\u00a0
applicable.
\u00a0
Depreciation
\u00a0
is
\u00a0
recognized
\u00a0
on
\u00a0
a
\u00a0
straight
\u00a0
-line
\u00a0
basis
\u00a0
over
\u00a0
the
economic
\u00a0
useful
\u00a0
lives
\u00a0
of
\u00a0
the
\u00a0
assets
\u00a0
or
\u00a0
over
\u00a0
the
\u00a0
lease
\u00a0
contract
\u00a0
period,
\u00a0
if
\u00a0
shorter.
\u00a0
Economic
\u00a0
useful
\u00a0
lives
\u00a0
are
\u00a0
as
\u00a0
follows:
Buildings
\u00a0
5-40
\u00a0
years
Machinery
\u00a0
and
\u00a0
equipment
\u00a0
4-15
\u00a0
years
Land
\u00a0
is
\u00a0
not
\u00a0
depreciated.
\u00a0
Expenditure
\u00a0
on
\u00a0
repairs
\u00a0
and
\u00a0
maintenance
\u00a0
of
\u00a0
property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
\u00a0
is
\u00a0
recognized
\u00a0
as
\u00a0
expense
\u00a0
when
\u00a0
incurred.
\u00a0
The
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
any
\u00a0
tangible
\u00a0
asset
\u00a0
is
\u00a0
impairment
\u00a0
tested
\u00a0
(see
impairment
\u00a0
of
\u00a0
assets
\u00a0
accounting
\u00a0
principles)
\u00a0
when
\u00a0
an
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
exists.
Leases
As
\u00a0
a
\u00a0
lessee,
\u00a0
KONE
\u00a0
recognizes
\u00a0
a
\u00a0
right-of-use
\u00a0
asset
\u00a0
representing
\u00a0
its
\u00a0
right
\u00a0
to
\u00a0
use
\u00a0
the
\u00a0
underlying
\u00a0
asset
\u00a0
and
\u00a0
a
\u00a0
lease
\u00a0
liability
\u00a0
representing
\u00a0
its
\u00a0
obligation
\u00a0
to
\u00a0
make
\u00a0
lease
\u00a0
payments,
\u00a0
amounting
\u00a0
to
\u00a0
the
\u00a0
present
value
\u00a0
of
\u00a0
the
\u00a0
future
\u00a0
lease
\u00a0
payments.
\u00a0
The
\u00a0
value
\u00a0
of
\u00a0
right-of-use
\u00a0
asset
\u00a0
corresponds
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
future
\u00a0
lease
\u00a0
payments
\u00a0
at
\u00a0
the
\u00a0
inception
\u00a0
of
\u00a0
the
\u00a0
lease,
\u00a0
discounted
\u00a0
with
\u00a0
the
\u00a0
incremental
\u00a0
borrowing
\u00a0
rate.
Right-of-use
\u00a0
assets
\u00a0
are
\u00a0
depreciated
\u00a0
over
\u00a0
the
\u00a0
contract
\u00a0
period
\u00a0
or
\u00a0
over
\u00a0
the
\u00a0
useful
\u00a0
life
\u00a0
of
\u00a0
the
\u00a0
asset,
\u00a0
which
\u00a0
is
\u00a0
the
\u00a0
shorter.
\u00a0
An
\u00a0
option
\u00a0
to
\u00a0
extend
\u00a0
or
\u00a0
terminate
\u00a0
the
\u00a0
lease
\u00a0
contract
\u00a0
is
\u00a0
included
\u00a0
to
\u00a0
the
\u00a0
lease
period
\u00a0
when
\u00a0
exercising
\u00a0
such
\u00a0
option
\u00a0
is
\u00a0
considered
\u00a0
highly
\u00a0
probable.
\u00a0
The
\u00a0
cost
\u00a0
arising
\u00a0
from
\u00a0
short-term
\u00a0
leases
\u00a0
and
\u00a0
leases
\u00a0
of
\u00a0
low
\u00a0
value
\u00a0
assets
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
on
\u00a0
a
\u00a0
straight-line
\u00a0
basis
\u00a0
over
the
\u00a0
contract
\u00a0
period.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_77": { "value": "
Leases
As
\u00a0
a
\u00a0
lessee,
\u00a0
KONE
\u00a0
recognizes
\u00a0
a
\u00a0
right-of-use
\u00a0
asset
\u00a0
representing
\u00a0
its
\u00a0
right
\u00a0
to
\u00a0
use
\u00a0
the
\u00a0
underlying
\u00a0
asset
\u00a0
and
\u00a0
a
\u00a0
lease
\u00a0
liability
\u00a0
representing
\u00a0
its
\u00a0
obligation
\u00a0
to
\u00a0
make
\u00a0
lease
\u00a0
payments,
\u00a0
amounting
\u00a0
to
\u00a0
the
\u00a0
present
value
\u00a0
of
\u00a0
the
\u00a0
future
\u00a0
lease
\u00a0
payments.
\u00a0
The
\u00a0
value
\u00a0
of
\u00a0
right-of-use
\u00a0
asset
\u00a0
corresponds
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
future
\u00a0
lease
\u00a0
payments
\u00a0
at
\u00a0
the
\u00a0
inception
\u00a0
of
\u00a0
the
\u00a0
lease,
\u00a0
discounted
\u00a0
with
\u00a0
the
\u00a0
incremental
\u00a0
borrowing
\u00a0
rate.
Right-of-use
\u00a0
assets
\u00a0
are
\u00a0
depreciated
\u00a0
over
\u00a0
the
\u00a0
contract
\u00a0
period
\u00a0
or
\u00a0
over
\u00a0
the
\u00a0
useful
\u00a0
life
\u00a0
of
\u00a0
the
\u00a0
asset,
\u00a0
which
\u00a0
is
\u00a0
the
\u00a0
shorter.
\u00a0
An
\u00a0
option
\u00a0
to
\u00a0
extend
\u00a0
or
\u00a0
terminate
\u00a0
the
\u00a0
lease
\u00a0
contract
\u00a0
is
\u00a0
included
\u00a0
to
\u00a0
the
\u00a0
lease
period
\u00a0
when
\u00a0
exercising
\u00a0
such
\u00a0
option
\u00a0
is
\u00a0
considered
\u00a0
highly
\u00a0
probable.
\u00a0
The
\u00a0
cost
\u00a0
arising
\u00a0
from
\u00a0
short-term
\u00a0
leases
\u00a0
and
\u00a0
leases
\u00a0
of
\u00a0
low
\u00a0
value
\u00a0
assets
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
on
\u00a0
a
\u00a0
straight-line
\u00a0
basis
\u00a0
over
the
\u00a0
contract
\u00a0
period.
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Tangible
\u00a0
assets,
\u00a0
MEUR
Land
Buildings
Buildings,
\u00a0
leased
for
\u00a0
own
\u00a0
use
Machinery
\u00a0
&
equipment
Machinery
\u00a0
&
equipment,
leased
\u00a0
for
\u00a0
own
use
Fixed
\u00a0
assets
under
construction
Advance
payments
Total
Opening
\u00a0
gross
\u00a0
acquisition
\u00a0
cost
6.7
333.3
365.5
664.4
232.2
11.5
3.5
1,617.1
Opening
\u00a0
accumulated
\u00a0
depreciation
-
-152.2
-154.1
-464.5
-109.6
-
-
-880.4
Opening
\u00a0
net
\u00a0
book
\u00a0
value
6.7
181.1
211.4
199.9
122.6
11.5
3.5
736.7
Opening
\u00a0
net
\u00a0
book
\u00a0
value
6.7
181.1
211.4
199.9
122.6
11.5
3.5
736.7
Translation
\u00a0
differences
0.0
-1.6
1.9
-0.5
0.8
-0.4
0.0
0.2
Increase
-
7.0
44.5
58.9
62.9
23.3
1.6
198.4
Decrease
-0.8
-2.1
-3.4
-1.5
-0.8
-0.1
-
-8.7
Reclassifications
-
2.7
0.0
9.3
0.0
-8.9
-3.6
-0.4
Companies
\u00a0
acquired
\u00a0
(note
\u00a0
4.1)
-
-
-
0.2
0.2
-
-
0.4
Depreciation
0.0
-15.0
-63.8
-68.1
-62.9
-
-
-209.8
Closing
\u00a0
net
\u00a0
book
\u00a0
value
5.9
172.1
190.8
198.3
122.8
25.3
1.6
716.8
Closing
\u00a0
gross
\u00a0
acquisition
\u00a0
cost
5.9
336.7
403.6
714.2
249.5
25.3
1.6
1,736.9
Closing
\u00a0
accumulated
\u00a0
depreciation
-
-164.6
-212.8
-515.9
-126.7
-
-
-1,020.0
Closing
\u00a0
net
\u00a0
book
\u00a0
value
5.9
172.1
190.8
198.3
122.8
25.3
1.6
716.8
During
\u00a0
the
\u00a0
period
\u00a0
of
\u00a0
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022,
\u00a0
capital
\u00a0
expenditure
\u00a0
on
\u00a0
production
\u00a0
facilities,
\u00a0
installation
\u00a0
equipment,
\u00a0
R&D
\u00a0
tools,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
on
\u00a0
information
\u00a0
systems,
\u00a0
including
\u00a0
new
\u00a0
assets
\u00a0
recognized
\u00a0
for
\u00a0
lease
agreements,
\u00a0
totaled
\u00a0
to
\u00a0
EUR
\u00a0
209.2
\u00a0
(217.1)
\u00a0
million.
\u00a0
Capital
\u00a0
expenditure
\u00a0
on
\u00a0
leases
\u00a0
consists
\u00a0
mainly
\u00a0
of
\u00a0
maintenance
\u00a0
vehicles
\u00a0
and
\u00a0
office
\u00a0
facilities.
Lease
\u00a0
payments
\u00a0
in
\u00a0
cash
\u00a0
flow
\u00a0
totaled
\u00a0
to
\u00a0
EUR
\u00a0
-124.3
\u00a0
(-121.0)
\u00a0
million.
Expense
\u00a0
arising
\u00a0
from
\u00a0
leases
\u00a0
of
\u00a0
low-value
\u00a0
assets
\u00a0
and
\u00a0
short
\u00a0
-term
\u00a0
leases
\u00a0
amounted
\u00a0
to
\u00a0
EUR
\u00a0
12.6
\u00a0
(11.7)
\u00a0
million
\u00a0
in
\u00a0
2022.
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Tangible
\u00a0
assets,
\u00a0
MEUR
Land
Buildings
Buildings,
\u00a0
leased
\u00a0
for
own
\u00a0
use
Machinery
\u00a0
&
equipment
Machinery
\u00a0
&
equipment,
\u00a0
leased
for
\u00a0
own
\u00a0
use
Fixed
\u00a0
assets
\u00a0
under
construction
Advance
\u00a0
payments
Total
Opening
\u00a0
gross
\u00a0
acquisition
\u00a0
cost
6.7
317.3
321.6
602.2
208.6
10.6
3.2
1,470.3
Opening
\u00a0
accumulated
\u00a0
depreciation
-
-137.7
-105.5
-427.6
-89.4
-
-
-760.2
Opening
\u00a0
net
\u00a0
book
\u00a0
value
6.7
179.6
216.1
174.7
119.2
10.6
3.2
710.0
Opening
\u00a0
net
\u00a0
book
\u00a0
value
6.7
179.6
216.1
174.7
119.2
10.6
3.2
710.0
Translation
\u00a0
differences
0.0
10.3
9.5
8.6
4.7
0.6
0.3
34.0
Increase
-
6.0
57.0
69.0
63.3
10.0
2.5
207.8
Decrease
0.0
-3.5
-10.5
-1.4
-3.1
-0.7
-
-19.2
Reclassifications
-
2.7
0.0
8.8
-
-9.0
-2.5
-
Companies
\u00a0
acquired
\u00a0
(note
\u00a0
4.1)
-
-
-
0.2
-
-
-
0.2
Depreciation
0.0
-14.0
-60.6
-59.9
-61.8
-
-
-196.4
Closing
\u00a0
net
\u00a0
book
\u00a0
value
6.7
181.1
211.4
200.0
122.6
11.5
3.5
736.7
Closing
\u00a0
gross
\u00a0
acquisition
\u00a0
cost
6.7
333.3
365.5
664.4
232.2
11.5
3.5
1,617.1
Closing
\u00a0
accumulated
\u00a0
depreciation
-
-152.2
-154.1
-464.5
-109.6
-
-
-880.4
Closing
\u00a0
net
\u00a0
book
\u00a0
value
6.7
181.1
211.4
200.0
122.6
11.5
3.5
736.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_82": { "value": "
Leases
As
\u00a0
a
\u00a0
lessee,
\u00a0
KONE
\u00a0
recognizes
\u00a0
a
\u00a0
right-of-use
\u00a0
asset
\u00a0
representing
\u00a0
its
\u00a0
right
\u00a0
to
\u00a0
use
\u00a0
the
\u00a0
underlying
\u00a0
asset
\u00a0
and
\u00a0
a
\u00a0
lease
\u00a0
liability
\u00a0
representing
\u00a0
its
\u00a0
obligation
\u00a0
to
\u00a0
make
\u00a0
lease
\u00a0
payments,
\u00a0
amounting
\u00a0
to
\u00a0
the
\u00a0
present
value
\u00a0
of
\u00a0
the
\u00a0
future
\u00a0
lease
\u00a0
payments.
\u00a0
The
\u00a0
value
\u00a0
of
\u00a0
right-of-use
\u00a0
asset
\u00a0
corresponds
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
future
\u00a0
lease
\u00a0
payments
\u00a0
at
\u00a0
the
\u00a0
inception
\u00a0
of
\u00a0
the
\u00a0
lease,
\u00a0
discounted
\u00a0
with
\u00a0
the
\u00a0
incremental
\u00a0
borrowing
\u00a0
rate.
Right-of-use
\u00a0
assets
\u00a0
are
\u00a0
depreciated
\u00a0
over
\u00a0
the
\u00a0
contract
\u00a0
period
\u00a0
or
\u00a0
over
\u00a0
the
\u00a0
useful
\u00a0
life
\u00a0
of
\u00a0
the
\u00a0
asset,
\u00a0
which
\u00a0
is
\u00a0
the
\u00a0
shorter.
\u00a0
An
\u00a0
option
\u00a0
to
\u00a0
extend
\u00a0
or
\u00a0
terminate
\u00a0
the
\u00a0
lease
\u00a0
contract
\u00a0
is
\u00a0
included
\u00a0
to
\u00a0
the
\u00a0
lease
period
\u00a0
when
\u00a0
exercising
\u00a0
such
\u00a0
option
\u00a0
is
\u00a0
considered
\u00a0
highly
\u00a0
probable.
\u00a0
The
\u00a0
cost
\u00a0
arising
\u00a0
from
\u00a0
short-term
\u00a0
leases
\u00a0
and
\u00a0
leases
\u00a0
of
\u00a0
low
\u00a0
value
\u00a0
assets
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
on
\u00a0
a
\u00a0
straight-line
\u00a0
basis
\u00a0
over
the
\u00a0
contract
\u00a0
period.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_62": { "value": "
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Tangible
\u00a0
assets,
\u00a0
MEUR
Land
Buildings
Buildings,
\u00a0
leased
for
\u00a0
own
\u00a0
use
Machinery
\u00a0
&
equipment
Machinery
\u00a0
&
equipment,
leased
\u00a0
for
\u00a0
own
use
Fixed
\u00a0
assets
under
construction
Advance
payments
Total
Opening
\u00a0
gross
\u00a0
acquisition
\u00a0
cost
6.7
333.3
365.5
664.4
232.2
11.5
3.5
1,617.1
Opening
\u00a0
accumulated
\u00a0
depreciation
-
-152.2
-154.1
-464.5
-109.6
-
-
-880.4
Opening
\u00a0
net
\u00a0
book
\u00a0
value
6.7
181.1
211.4
199.9
122.6
11.5
3.5
736.7
Opening
\u00a0
net
\u00a0
book
\u00a0
value
6.7
181.1
211.4
199.9
122.6
11.5
3.5
736.7
Translation
\u00a0
differences
0.0
-1.6
1.9
-0.5
0.8
-0.4
0.0
0.2
Increase
-
7.0
44.5
58.9
62.9
23.3
1.6
198.4
Decrease
-0.8
-2.1
-3.4
-1.5
-0.8
-0.1
-
-8.7
Reclassifications
-
2.7
0.0
9.3
0.0
-8.9
-3.6
-0.4
Companies
\u00a0
acquired
\u00a0
(note
\u00a0
4.1)
-
-
-
0.2
0.2
-
-
0.4
Depreciation
0.0
-15.0
-63.8
-68.1
-62.9
-
-
-209.8
Closing
\u00a0
net
\u00a0
book
\u00a0
value
5.9
172.1
190.8
198.3
122.8
25.3
1.6
716.8
Closing
\u00a0
gross
\u00a0
acquisition
\u00a0
cost
5.9
336.7
403.6
714.2
249.5
25.3
1.6
1,736.9
Closing
\u00a0
accumulated
\u00a0
depreciation
-
-164.6
-212.8
-515.9
-126.7
-
-
-1,020.0
Closing
\u00a0
net
\u00a0
book
\u00a0
value
5.9
172.1
190.8
198.3
122.8
25.3
1.6
716.8
During
\u00a0
the
\u00a0
period
\u00a0
of
\u00a0
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022,
\u00a0
capital
\u00a0
expenditure
\u00a0
on
\u00a0
production
\u00a0
facilities,
\u00a0
installation
\u00a0
equipment,
\u00a0
R&D
\u00a0
tools,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
on
\u00a0
information
\u00a0
systems,
\u00a0
including
\u00a0
new
\u00a0
assets
\u00a0
recognized
\u00a0
for
\u00a0
lease
agreements,
\u00a0
totaled
\u00a0
to
\u00a0
EUR
\u00a0
209.2
\u00a0
(217.1)
\u00a0
million.
\u00a0
Capital
\u00a0
expenditure
\u00a0
on
\u00a0
leases
\u00a0
consists
\u00a0
mainly
\u00a0
of
\u00a0
maintenance
\u00a0
vehicles
\u00a0
and
\u00a0
office
\u00a0
facilities.
Lease
\u00a0
payments
\u00a0
in
\u00a0
cash
\u00a0
flow
\u00a0
totaled
\u00a0
to
\u00a0
EUR
\u00a0
-124.3
\u00a0
(-121.0)
\u00a0
million.
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Tangible
\u00a0
assets,
\u00a0
MEUR
Land
Buildings
Buildings,
\u00a0
leased
\u00a0
for
own
\u00a0
use
Machinery
\u00a0
&
equipment
Machinery
\u00a0
&
equipment,
\u00a0
leased
for
\u00a0
own
\u00a0
use
Fixed
\u00a0
assets
\u00a0
under
construction
Advance
\u00a0
payments
Total
Opening
\u00a0
gross
\u00a0
acquisition
\u00a0
cost
6.7
317.3
321.6
602.2
208.6
10.6
3.2
1,470.3
Opening
\u00a0
accumulated
\u00a0
depreciation
-
-137.7
-105.5
-427.6
-89.4
-
-
-760.2
Opening
\u00a0
net
\u00a0
book
\u00a0
value
6.7
179.6
216.1
174.7
119.2
10.6
3.2
710.0
Opening
\u00a0
net
\u00a0
book
\u00a0
value
6.7
179.6
216.1
174.7
119.2
10.6
3.2
710.0
Translation
\u00a0
differences
0.0
10.3
9.5
8.6
4.7
0.6
0.3
34.0
Increase
-
6.0
57.0
69.0
63.3
10.0
2.5
207.8
Decrease
0.0
-3.5
-10.5
-1.4
-3.1
-0.7
-
-19.2
Reclassifications
-
2.7
0.0
8.8
-
-9.0
-2.5
-
Companies
\u00a0
acquired
\u00a0
(note
\u00a0
4.1)
-
-
-
0.2
-
-
-
0.2
Depreciation
0.0
-14.0
-60.6
-59.9
-61.8
-
-
-196.4
Closing
\u00a0
net
\u00a0
book
\u00a0
value
6.7
181.1
211.4
200.0
122.6
11.5
3.5
736.7
Closing
\u00a0
gross
\u00a0
acquisition
\u00a0
cost
6.7
333.3
365.5
664.4
232.2
11.5
3.5
1,617.1
Closing
\u00a0
accumulated
\u00a0
depreciation
-
-152.2
-154.1
-464.5
-109.6
-
-
-880.4
Closing
\u00a0
net
\u00a0
book
\u00a0
value
6.7
181.1
211.4
200.0
122.6
11.5
3.5
736.7
4.4
\u00a0
TANGIBLE
\u00a0
ASSETS
Accounting
\u00a0
principles
Property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
\u00a0
Property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
cost
\u00a0
less
\u00a0
accumulated
\u00a0
depreciation
\u00a0
and
\u00a0
any
\u00a0
impairment
\u00a0
losses,
\u00a0
when
\u00a0
applicable.
\u00a0
Depreciation
\u00a0
is
\u00a0
recognized
\u00a0
on
\u00a0
a
\u00a0
straight
\u00a0
-line
\u00a0
basis
\u00a0
over
\u00a0
the
economic
\u00a0
useful
\u00a0
lives
\u00a0
of
\u00a0
the
\u00a0
assets
\u00a0
or
\u00a0
over
\u00a0
the
\u00a0
lease
\u00a0
contract
\u00a0
period,
\u00a0
if
\u00a0
shorter.
\u00a0
Economic
\u00a0
useful
\u00a0
lives
\u00a0
are
\u00a0
as
\u00a0
follows:
Buildings
\u00a0
5-40
\u00a0
years
Machinery
\u00a0
and
\u00a0
equipment
\u00a0
4-15
\u00a0
years
Land
\u00a0
is
\u00a0
not
\u00a0
depreciated.
\u00a0
Expenditure
\u00a0
on
\u00a0
repairs
\u00a0
and
\u00a0
maintenance
\u00a0
of
\u00a0
property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
\u00a0
is
\u00a0
recognized
\u00a0
as
\u00a0
expense
\u00a0
when
\u00a0
incurred.
\u00a0
The
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
any
\u00a0
tangible
\u00a0
asset
\u00a0
is
\u00a0
impairment
\u00a0
tested
\u00a0
(see
impairment
\u00a0
of
\u00a0
assets
\u00a0
accounting
\u00a0
principles)
\u00a0
when
\u00a0
an
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
exists.
Leases
As
\u00a0
a
\u00a0
lessee,
\u00a0
KONE
\u00a0
recognizes
\u00a0
a
\u00a0
right-of-use
\u00a0
asset
\u00a0
representing
\u00a0
its
\u00a0
right
\u00a0
to
\u00a0
use
\u00a0
the
\u00a0
underlying
\u00a0
asset
\u00a0
and
\u00a0
a
\u00a0
lease
\u00a0
liability
\u00a0
representing
\u00a0
its
\u00a0
obligation
\u00a0
to
\u00a0
make
\u00a0
lease
\u00a0
payments,
\u00a0
amounting
\u00a0
to
\u00a0
the
\u00a0
present
value
\u00a0
of
\u00a0
the
\u00a0
future
\u00a0
lease
\u00a0
payments.
\u00a0
The
\u00a0
value
\u00a0
of
\u00a0
right-of-use
\u00a0
asset
\u00a0
corresponds
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
future
\u00a0
lease
\u00a0
payments
\u00a0
at
\u00a0
the
\u00a0
inception
\u00a0
of
\u00a0
the
\u00a0
lease,
\u00a0
discounted
\u00a0
with
\u00a0
the
\u00a0
incremental
\u00a0
borrowing
\u00a0
rate.
Right-of-use
\u00a0
assets
\u00a0
are
\u00a0
depreciated
\u00a0
over
\u00a0
the
\u00a0
contract
\u00a0
period
\u00a0
or
\u00a0
over
\u00a0
the
\u00a0
useful
\u00a0
life
\u00a0
of
\u00a0
the
\u00a0
asset,
\u00a0
which
\u00a0
is
\u00a0
the
\u00a0
shorter.
\u00a0
An
\u00a0
option
\u00a0
to
\u00a0
extend
\u00a0
or
\u00a0
terminate
\u00a0
the
\u00a0
lease
\u00a0
contract
\u00a0
is
\u00a0
included
\u00a0
to
\u00a0
the
\u00a0
lease
period
\u00a0
when
\u00a0
exercising
\u00a0
such
\u00a0
option
\u00a0
is
\u00a0
considered
\u00a0
highly
\u00a0
probable.
\u00a0
The
\u00a0
cost
\u00a0
arising
\u00a0
from
\u00a0
short-term
\u00a0
leases
\u00a0
and
\u00a0
leases
\u00a0
of
\u00a0
low
\u00a0
value
\u00a0
assets
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
on
\u00a0
a
\u00a0
straight-line
\u00a0
basis
\u00a0
over
the
\u00a0
contract
\u00a0
period.
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_91": { "value": "
5.1
\u00a0
CAPITAL
\u00a0
MANAGEMENT
KONE
\u00a0
aims
\u00a0
to
\u00a0
manage
\u00a0
its
\u00a0
capital
\u00a0
in
\u00a0
a
\u00a0
way
\u00a0
that
\u00a0
supports
\u00a0
the
\u00a0
profitable
\u00a0
growth
\u00a0
of
\u00a0
operations
\u00a0
by
\u00a0
securing
\u00a0
an
\u00a0
adequate
\u00a0
liquidity
\u00a0
and
\u00a0
capitalization
\u00a0
of
\u00a0
the
\u00a0
Group
\u00a0
at
\u00a0
all
\u00a0
times.
\u00a0
The
\u00a0
target
\u00a0
is
\u00a0
to
\u00a0
maintain
\u00a0
a
capital
\u00a0
structure
\u00a0
that
\u00a0
contributes
\u00a0
to
\u00a0
the
\u00a0
creation
\u00a0
of
\u00a0
shareholder
\u00a0
value.
The
\u00a0
assets
\u00a0
employed
\u00a0
in
\u00a0
KONE\u2019s
\u00a0
business
\u00a0
consist
\u00a0
principally
\u00a0
of
\u00a0
net
\u00a0
working
\u00a0
capital,
\u00a0
fixed
\u00a0
assets,
\u00a0
and
\u00a0
financial
\u00a0
investments
\u00a0
which
\u00a0
are
\u00a0
funded
\u00a0
by
\u00a0
equity
\u00a0
and
\u00a0
net
\u00a0
debt,
\u00a0
as
\u00a0
shown
\u00a0
in
\u00a0
the
\u00a0
adjacent
table.
\u00a0
Due
\u00a0
to
\u00a0
the
\u00a0
business
\u00a0
model
\u00a0
and
\u00a0
the
\u00a0
business
\u00a0
processes
\u00a0
of
\u00a0
KONE,
\u00a0
the
\u00a0
level
\u00a0
of
\u00a0
total
\u00a0
assets
\u00a0
employed
\u00a0
is
\u00a0
relatively
\u00a0
low.
\u00a0
KONE
\u00a0
aims
\u00a0
to
\u00a0
maintain
\u00a0
a
\u00a0
negative
\u00a0
net
\u00a0
working
\u00a0
capital
\u00a0
to
\u00a0
ensure
\u00a0
a
\u00a0
healthy
cash
\u00a0
flow
\u00a0
even
\u00a0
when
\u00a0
the
\u00a0
business
\u00a0
is
\u00a0
growing
\u00a0
and
\u00a0
to
\u00a0
maintain
\u00a0
a
\u00a0
high
\u00a0
return
\u00a0
on
\u00a0
assets
\u00a0
employed.
Cash
\u00a0
flow
\u00a0
from
\u00a0
operations
\u00a0
is
\u00a0
the
\u00a0
principal
\u00a0
source
\u00a0
of
\u00a0
KONE\u2019s
\u00a0
financing.
\u00a0
External
\u00a0
funding,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
cash
\u00a0
and
\u00a0
financial
\u00a0
investments,
\u00a0
are
\u00a0
managed
\u00a0
centrally
\u00a0
by
\u00a0
KONE
\u00a0
Treasury
\u00a0
according
\u00a0
to
\u00a0
the
KONE
\u00a0
Treasury
\u00a0
Policy.
\u00a0
Financial
\u00a0
investments
\u00a0
are
\u00a0
made
\u00a0
only
\u00a0
with
\u00a0
counterparties
\u00a0
with
\u00a0
high
\u00a0
creditworthiness
\u00a0
and
\u00a0
mainly
\u00a0
in
\u00a0
short
\u00a0
term
\u00a0
instruments
\u00a0
to
\u00a0
ensure
\u00a0
continuous
\u00a0
liquidity.
KONE
\u00a0
has
\u00a0
not
\u00a0
defined
\u00a0
a
\u00a0
specific
\u00a0
target
\u00a0
for
\u00a0
its
\u00a0
capital
\u00a0
structure,
\u00a0
but
\u00a0
the
\u00a0
aim
\u00a0
is
\u00a0
to
\u00a0
ensure
\u00a0
strong
\u00a0
credit
\u00a0
quality
\u00a0
to
\u00a0
provide
\u00a0
for
\u00a0
ample
\u00a0
access
\u00a0
to
\u00a0
external
\u00a0
funding
\u00a0
sources
\u00a0
and
\u00a0
to
\u00a0
support
\u00a0
the
\u00a0
growth
ambitions
\u00a0
of
\u00a0
the
\u00a0
business.
\u00a0
KONE
\u00a0
considers
\u00a0
its
\u00a0
current
\u00a0
capital
\u00a0
structure
\u00a0
to
\u00a0
be
\u00a0
a
\u00a0
strength,
\u00a0
as
\u00a0
it
\u00a0
allows
\u00a0
for
\u00a0
capturing
\u00a0
potential
\u00a0
value
\u00a0
creating
\u00a0
business
\u00a0
opportunities,
\u00a0
should
\u00a0
such
\u00a0
opportunities
\u00a0
arise.
\u00a0
In
the
\u00a0
event
\u00a0
that
\u00a0
significant
\u00a0
attractive
\u00a0
investment
\u00a0
or
\u00a0
acquisition
\u00a0
opportunities
\u00a0
were
\u00a0
available,
\u00a0
KONE
\u00a0
could
\u00a0
also
\u00a0
utilize
\u00a0
its
\u00a0
borrowing
\u00a0
capacity.
In
\u00a0
such
\u00a0
cases,
\u00a0
the
\u00a0
level
\u00a0
of
\u00a0
debt
\u00a0
and
\u00a0
financial
\u00a0
gearing
\u00a0
could
\u00a0
be
\u00a0
higher
\u00a0
for
\u00a0
a
\u00a0
period
\u00a0
of
\u00a0
time.
\u00a0
At
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
2022,
\u00a0
the
\u00a0
funding
\u00a0
of
\u00a0
KONE
\u00a0
was
\u00a0
guaranteed
\u00a0
by
\u00a0
existing
\u00a0
committed
\u00a0
credit
\u00a0
facilities,
\u00a0
cash
and
\u00a0
financial
\u00a0
investments.
KONE
\u00a0
has
\u00a0
not
\u00a0
defined
\u00a0
a
\u00a0
specific
\u00a0
target
\u00a0
for
\u00a0
dividends
\u00a0
or
\u00a0
share
\u00a0
buy-backs.
\u00a0
The
\u00a0
dividend
\u00a0
proposal
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
is
\u00a0
determined
\u00a0
on
\u00a0
the
\u00a0
basis
\u00a0
of
\u00a0
the
\u00a0
overall
\u00a0
business
\u00a0
outlook,
\u00a0
business
opportunities,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
present
\u00a0
capital
\u00a0
structure
\u00a0
and
\u00a0
the
\u00a0
anticipated
\u00a0
changes
\u00a0
in
\u00a0
it.
\u00a0
In
\u00a0
2018\u20132022,
\u00a0
the
\u00a0
dividend
\u00a0
payout
\u00a0
ratio
\u00a0
has
\u00a0
been
\u00a0
94.2\u2013124.0%
\u00a0
for
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
(2022
\u00a0
proposal
\u00a0
by
\u00a0
the
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
\u00a0
KONE
\u00a0
Corporation).
\u00a0
At
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
December
\u00a0
2022,
\u00a0
KONE
\u00a0
had
\u00a0
12,306,640
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
in
\u00a0
its
\u00a0
possession.
To
\u00a0
ensure
\u00a0
an
\u00a0
efficient
\u00a0
internal
\u00a0
allocation
\u00a0
and
\u00a0
utilization
\u00a0
of
\u00a0
its
\u00a0
capital
\u00a0
resources,
\u00a0
KONE
\u00a0
measures
\u00a0
the
\u00a0
financial
\u00a0
results
\u00a0
of
\u00a0
its
\u00a0
business
\u00a0
activities
\u00a0
after
\u00a0
a
\u00a0
capital
\u00a0
allocation
\u00a0
charge.
\u00a0
The
\u00a0
capital
allocation
\u00a0
charge
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
assets
\u00a0
employed
\u00a0
in
\u00a0
the
\u00a0
business
\u00a0
activity
\u00a0
and
\u00a0
the
\u00a0
weighted
\u00a0
average
\u00a0
cost
\u00a0
of
\u00a0
capital
\u00a0
(WACC).
The
\u00a0
WACC
\u00a0
is
\u00a0
also
\u00a0
used
\u00a0
as
\u00a0
a
\u00a0
hurdle
\u00a0
rate
\u00a0
when
\u00a0
evaluating
\u00a0
the
\u00a0
shareholder
\u00a0
value
\u00a0
creation
\u00a0
potential
\u00a0
of
\u00a0
new
\u00a0
acquisitions,
\u00a0
major
\u00a0
capital
\u00a0
expenditure
\u00a0
and
\u00a0
other
\u00a0
investments.
\u00a0
The
\u00a0
valuation
\u00a0
methods
used
\u00a0
are
\u00a0
payback
\u00a0
time,
\u00a0
discounted
\u00a0
cash
\u00a0
flow
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
earnings
\u00a0
and
\u00a0
cash
\u00a0
flow
\u00a0
multipliers.
Capital
\u00a0
management,
\u00a0
MEUR
2022
2021
2020
2019
2018
Assets
\u00a0
employed:
Goodwill
\u00a0
and
\u00a0
shares
1,536
1,550
1,470
1,506
1,477
Other
\u00a0
non-current
\u00a0
assets
\u00a0
\u00b9
\u207e
925
954
933
990
658
Net
\u00a0
working
\u00a0
capital
-904
-1,468
-1,160
-856
-758
Total
\u00a0
assets
\u00a0
employed
1,557
1,035
1,243
1,640
1,377
Capital:
Equity
2,867
3,199
3,197
3,193
3,081
Interest-bearing
\u00a0
net
\u00a0
debt
-1,309
-2,164
-1,954
-1,553
-1,704
Total
\u00a0
capital
1,557
1,035
1,243
1,640
1,377
Gearing
-45.7%
-67.6%
-61.1%
-48.6%
-55.3%
Equity
\u00a0
ratio
40.3%
41.2%
45.5%
46.5%
49.9%
1)
\u00a0
Tangible
\u00a0
assets,
\u00a0
acquired
\u00a0
maintenance
\u00a0
contracts
\u00a0
and
\u00a0
other
\u00a0
intangible
\u00a0
assets.
\u00a0
KONE
\u00a0
has
\u00a0
adopted
\u00a0
the
\u00a0
IFRS
\u00a0
16
\u00a0
and
\u00a0
IFRIC
\u00a0
23
\u00a0
effective
\u00a0
January
\u00a0
1,
\u00a0
2019
\u00a0
using
\u00a0
the
\u00a0
modified
\u00a0
retrospective
\u00a0
approach
\u00a0
and
\u00a0
the
\u00a0
comparative
\u00a0
amounts
\u00a0
have
\u00a0
not
\u00a0
been
\u00a0
restated.
Non-current
\u00a0
assets
\u00a0
by
\u00a0
country
MEUR
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
USA
477.0
441.8
China
466.4
482.5
Spain
244.1
240.9
Germany
212.8
219.6
France
201.5
206.1
Finland
167.2
146.9
Other
1,012.4
1,060.3
Total
2,781.3
2,798.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_8": { "value": "
5.2
\u00a0
SHAREHOLDERS\u2019
\u00a0
EQUITY
Shares
\u00a0
and
\u00a0
share
\u00a0
capital
At
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
2022
\u00a0
financial
\u00a0
year,
\u00a0
the
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
outstanding
\u00a0
was
\u00a0
529,395,860.
\u00a0
The
\u00a0
share
\u00a0
capital
\u00a0
was
\u00a0
EUR
\u00a0
66.2
\u00a0
million
\u00a0
and
\u00a0
the
\u00a0
total
\u00a0
number
\u00a0
of
\u00a0
votes
\u00a0
was
\u00a0
121,527,427.
\u00a0
Each
\u00a0
class
\u00a0
A
share
\u00a0
is
\u00a0
assigned
\u00a0
one
\u00a0
vote,
\u00a0
as
\u00a0
is
\u00a0
each
\u00a0
block
\u00a0
of
\u00a0
10
\u00a0
class
\u00a0
B
\u00a0
shares,
\u00a0
with
\u00a0
the
\u00a0
provision
\u00a0
that
\u00a0
each
\u00a0
shareholder
\u00a0
is
\u00a0
entitled
\u00a0
to
\u00a0
at
\u00a0
least
\u00a0
one
\u00a0
vote.
\u00a0
The
\u00a0
accounting
\u00a0
par
\u00a0
value
\u00a0
of
\u00a0
both
\u00a0
classes
\u00a0
of
\u00a0
shares
\u00a0
is
\u00a0
EUR
0.125.
At
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
year,
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
\u00a0
KONE
\u00a0
Corporation
\u00a0
had
\u00a0
a
\u00a0
valid
\u00a0
authorization
\u00a0
granted
\u00a0
by
\u00a0
the
\u00a0
Annual
\u00a0
General
\u00a0
Meeting
\u00a0
in
\u00a0
March
\u00a0
2022
\u00a0
to
\u00a0
increase
\u00a0
the
\u00a0
share
\u00a0
capital
\u00a0
and
\u00a0
to
issue
\u00a0
stock
\u00a0
options.
\u00a0
The
\u00a0
authorization
\u00a0
remains
\u00a0
in
\u00a0
effect
\u00a0
until
\u00a0
the
\u00a0
conclusion
\u00a0
of
\u00a0
the
\u00a0
following
\u00a0
annual
\u00a0
general
\u00a0
meeting,
\u00a0
however
\u00a0
at
\u00a0
the
\u00a0
latest
\u00a0
until
\u00a0
30
\u00a0
June
\u00a0
2023.
In
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
Articles
\u00a0
of
\u00a0
Association,
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
are
\u00a0
preferred
\u00a0
for
\u00a0
a
\u00a0
dividend
\u00a0
which
\u00a0
is
\u00a0
at
\u00a0
least
\u00a0
1%
\u00a0
and
\u00a0
no
\u00a0
more
\u00a0
than
\u00a0
2.5%
\u00a0
higher
\u00a0
than
\u00a0
the
\u00a0
dividend
\u00a0
paid
\u00a0
to
\u00a0
the
\u00a0
holders
\u00a0
of
\u00a0
class
\u00a0
A
shares,
\u00a0
calculated
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
amount
\u00a0
obtained
\u00a0
by
\u00a0
dividing
\u00a0
the
\u00a0
share
\u00a0
capital
\u00a0
entered
\u00a0
into
\u00a0
the
\u00a0
Trade
\u00a0
Register
\u00a0
by
\u00a0
the
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
entered
\u00a0
into
\u00a0
the
\u00a0
Trade
\u00a0
Register.
In
\u00a0
2022
\u00a0
or
\u00a0
2021
\u00a0
there
\u00a0
were
\u00a0
no
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
share
\u00a0
capital
\u00a0
of
\u00a0
KONE
\u00a0
Corporation.
Authority
\u00a0
to
\u00a0
buy
\u00a0
own
\u00a0
shares
KONE
\u00a0
Corporation\u2019s
\u00a0
Annual
\u00a0
General
\u00a0
Meeting
\u00a0
held
\u00a0
on
\u00a0
March
\u00a0
2,
\u00a0
2022
\u00a0
authorized
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
to
\u00a0
repurchase
\u00a0
the
\u00a0
company\u2019s
\u00a0
own
\u00a0
shares.
\u00a0
The
\u00a0
General
\u00a0
Meeting
\u00a0
approved
\u00a0
the
\u00a0
authorization
for
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
to
\u00a0
repurchase
\u00a0
KONE\u2019s
\u00a0
own
\u00a0
shares.
\u00a0
Altogether
\u00a0
no
\u00a0
more
\u00a0
than
\u00a0
52,930,000
\u00a0
shares
\u00a0
may
\u00a0
be
\u00a0
repurchased,
\u00a0
of
\u00a0
which
\u00a0
no
\u00a0
more
\u00a0
than
\u00a0
7,620,000
\u00a0
may
\u00a0
be
\u00a0
class
\u00a0
A
\u00a0
shares
\u00a0
and
45,310,000
\u00a0
class
\u00a0
B
\u00a0
shares.
The
\u00a0
minimum
\u00a0
and
\u00a0
maximum
\u00a0
consideration
\u00a0
for
\u00a0
the
\u00a0
shares
\u00a0
to
\u00a0
be
\u00a0
purchased
\u00a0
is
\u00a0
determined
\u00a0
for
\u00a0
both
\u00a0
class
\u00a0
A
\u00a0
and
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
on
\u00a0
the
\u00a0
basis
\u00a0
of
\u00a0
the
\u00a0
trading
\u00a0
price
\u00a0
for
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
determined
\u00a0
on
\u00a0
the
Nasdaq
\u00a0
Helsinki
\u00a0
Ltd.
\u00a0
on
\u00a0
the
\u00a0
time
\u00a0
of
\u00a0
purchase.
A
\u00a0
total
\u00a0
of
\u00a0
1,083,500
\u00a0
B
\u00a0
class
\u00a0
shares
\u00a0
were
\u00a0
purchased
\u00a0
by
\u00a0
KONE
\u00a0
on
\u00a0
the
\u00a0
Helsinki
\u00a0
Stock
\u00a0
Exchange
\u00a0
(Nasdaq
\u00a0
Helsinki
\u00a0
Ltd)
\u00a0
in
\u00a0
2022.
\u00a0
The
\u00a0
total
\u00a0
amount
\u00a0
paid
\u00a0
to
\u00a0
acquire
\u00a0
shares
\u00a0
amounted
\u00a0
to
\u00a0
EUR
\u00a0
50.0
million
\u00a0
with
\u00a0
the
\u00a0
average
\u00a0
market
\u00a0
price
\u00a0
totaling
\u00a0
EUR
\u00a0
46.11
\u00a0
per
\u00a0
share
\u00a0
prevailing
\u00a0
at
\u00a0
the
\u00a0
time
\u00a0
of
\u00a0
purchase.
\u00a0
All
\u00a0
shares
\u00a0
held
\u00a0
by
\u00a0
KONE
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
consisted
\u00a0
of
\u00a0
B
\u00a0
class
\u00a0
shares.
Accounting
\u00a0
principles
Equity
\u00a0
and
\u00a0
profit
\u00a0
distribution
The
\u00a0
total
\u00a0
shareholders\u2019
\u00a0
equity
\u00a0
consists
\u00a0
of
\u00a0
the
\u00a0
share
\u00a0
capital,
\u00a0
the
\u00a0
share
\u00a0
premium
\u00a0
account,
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
other
\u00a0
reserves,
\u00a0
translation
\u00a0
differences,
\u00a0
the
\u00a0
paid-up
\u00a0
unrestricted
\u00a0
equity
\u00a0
reserve,
remeasurements
\u00a0
of
\u00a0
employee
\u00a0
benefits
\u00a0
and
\u00a0
retained
\u00a0
earnings.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
other
\u00a0
reserves
\u00a0
include
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
cash
\u00a0
flow
\u00a0
hedges.
\u00a0
Differences
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
application
\u00a0
of
\u00a0
the
acquisition
\u00a0
method
\u00a0
on
\u00a0
the
\u00a0
translation
\u00a0
of
\u00a0
the
\u00a0
net
\u00a0
investment
\u00a0
in
\u00a0
foreign
\u00a0
subsidiaries
\u00a0
and
\u00a0
associated
\u00a0
companies
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
translation
\u00a0
differences.
\u00a0
Exchange
\u00a0
rate
\u00a0
differences
\u00a0
resulting
\u00a0
from
financial
\u00a0
instruments
\u00a0
intended
\u00a0
as
\u00a0
hedges
\u00a0
of
\u00a0
the
\u00a0
net
\u00a0
assets
\u00a0
in
\u00a0
foreign
\u00a0
subsidiaries
\u00a0
are
\u00a0
also
\u00a0
recognized
\u00a0
as
\u00a0
translation
\u00a0
differe
\u00a0
nces.
\u00a0
Actuarial
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
arising
\u00a0
from
\u00a0
revaluation
\u00a0
of
\u00a0
employee
benefits
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
remeasurements
\u00a0
of
\u00a0
employee
\u00a0
benefits.
\u00a0
The
\u00a0
purchase
\u00a0
price
\u00a0
of
\u00a0
own
\u00a0
shares
\u00a0
purchased
\u00a0
by
\u00a0
KONE
\u00a0
Corporation
\u00a0
is
\u00a0
deducted
\u00a0
from
\u00a0
retained
\u00a0
earnings.
\u00a0
The
\u00a0
net
\u00a0
income
\u00a0
for
\u00a0
the
accounting
\u00a0
period
\u00a0
is
\u00a0
recognized
\u00a0
directly
\u00a0
in
\u00a0
retained
\u00a0
earnings.
When
\u00a0
KONE
\u00a0
Corporation
\u00a0
purchases
\u00a0
its
\u00a0
own
\u00a0
shares,
\u00a0
the
\u00a0
consideration
\u00a0
paid
\u00a0
and
\u00a0
costs
\u00a0
directly
\u00a0
attributable
\u00a0
to
\u00a0
the
\u00a0
purchase
\u00a0
transaction
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
a
\u00a0
deduction
\u00a0
in
\u00a0
equity.
\u00a0
When
\u00a0
such
\u00a0
shares
are
\u00a0
sold,
\u00a0
the
\u00a0
consideration
\u00a0
received,
\u00a0
net
\u00a0
of
\u00a0
directly
\u00a0
attributable
\u00a0
transaction
\u00a0
costs,
\u00a0
is
\u00a0
included
\u00a0
in
\u00a0
equity.
Profit
\u00a0
distribution
\u00a0
includes
\u00a0
dividends
\u00a0
and
\u00a0
donations
\u00a0
decided
\u00a0
by
\u00a0
the
\u00a0
Shareholders\u2019
\u00a0
Meeting.
\u00a0
The
\u00a0
dividend
\u00a0
and
\u00a0
distribution
\u00a0
of
\u00a0
profits
\u00a0
proposed
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
\u00a0
KONE
\u00a0
Corporation
\u00a0
for
\u00a0
the
financial
\u00a0
year
\u00a0
ended,
\u00a0
is
\u00a0
not
\u00a0
deducted
\u00a0
from
\u00a0
the
\u00a0
equity
\u00a0
prior
\u00a0
to
\u00a0
acceptance
\u00a0
by
\u00a0
a
\u00a0
Shareholders\u2019
\u00a0
Meeting.
More
\u00a0
information
Please,
\u00a0
refer
\u00a0
to
\u00a0
section
\u00a0
6.2
\u00a0
for
\u00a0
more
\u00a0
information
\u00a0
on
\u00a0
share-based
\u00a0
incentive
\u00a0
plans.
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_92": { "value": "
Shares
\u00a0
and
\u00a0
share
\u00a0
capital
At
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
2022
\u00a0
financial
\u00a0
year,
\u00a0
the
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
outstanding
\u00a0
was
\u00a0
529,395,860.
\u00a0
The
\u00a0
share
\u00a0
capital
\u00a0
was
\u00a0
EUR
\u00a0
66.2
\u00a0
million
\u00a0
and
\u00a0
the
\u00a0
total
\u00a0
number
\u00a0
of
\u00a0
votes
\u00a0
was
\u00a0
121,527,427.
\u00a0
Each
\u00a0
class
\u00a0
A
share
\u00a0
is
\u00a0
assigned
\u00a0
one
\u00a0
vote,
\u00a0
as
\u00a0
is
\u00a0
each
\u00a0
block
\u00a0
of
\u00a0
10
\u00a0
class
\u00a0
B
\u00a0
shares,
\u00a0
with
\u00a0
the
\u00a0
provision
\u00a0
that
\u00a0
each
\u00a0
shareholder
\u00a0
is
\u00a0
entitled
\u00a0
to
\u00a0
at
\u00a0
least
\u00a0
one
\u00a0
vote.
\u00a0
The
\u00a0
accounting
\u00a0
par
\u00a0
value
\u00a0
of
\u00a0
both
\u00a0
classes
\u00a0
of
\u00a0
shares
\u00a0
is
\u00a0
EUR
0.125.
At
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
year,
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
\u00a0
KONE
\u00a0
Corporation
\u00a0
had
\u00a0
a
\u00a0
valid
\u00a0
authorization
\u00a0
granted
\u00a0
by
\u00a0
the
\u00a0
Annual
\u00a0
General
\u00a0
Meeting
\u00a0
in
\u00a0
March
\u00a0
2022
\u00a0
to
\u00a0
increase
\u00a0
the
\u00a0
share
\u00a0
capital
\u00a0
and
\u00a0
to
issue
\u00a0
stock
\u00a0
options.
\u00a0
The
\u00a0
authorization
\u00a0
remains
\u00a0
in
\u00a0
effect
\u00a0
until
\u00a0
the
\u00a0
conclusion
\u00a0
of
\u00a0
the
\u00a0
following
\u00a0
annual
\u00a0
general
\u00a0
meeting,
\u00a0
however
\u00a0
at
\u00a0
the
\u00a0
latest
\u00a0
until
\u00a0
30
\u00a0
June
\u00a0
2023.
In
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
Articles
\u00a0
of
\u00a0
Association,
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
are
\u00a0
preferred
\u00a0
for
\u00a0
a
\u00a0
dividend
\u00a0
which
\u00a0
is
\u00a0
at
\u00a0
least
\u00a0
1%
\u00a0
and
\u00a0
no
\u00a0
more
\u00a0
than
\u00a0
2.5%
\u00a0
higher
\u00a0
than
\u00a0
the
\u00a0
dividend
\u00a0
paid
\u00a0
to
\u00a0
the
\u00a0
holders
\u00a0
of
\u00a0
class
\u00a0
A
shares,
\u00a0
calculated
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
amount
\u00a0
obtained
\u00a0
by
\u00a0
dividing
\u00a0
the
\u00a0
share
\u00a0
capital
\u00a0
entered
\u00a0
into
\u00a0
the
\u00a0
Trade
\u00a0
Register
\u00a0
by
\u00a0
the
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
entered
\u00a0
into
\u00a0
the
\u00a0
Trade
\u00a0
Register.
In
\u00a0
2022
\u00a0
or
\u00a0
2021
\u00a0
there
\u00a0
were
\u00a0
no
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
share
\u00a0
capital
\u00a0
of
\u00a0
KONE
\u00a0
Corporation.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_9": { "value": "
Authority
\u00a0
to
\u00a0
buy
\u00a0
own
\u00a0
shares
KONE
\u00a0
Corporation\u2019s
\u00a0
Annual
\u00a0
General
\u00a0
Meeting
\u00a0
held
\u00a0
on
\u00a0
March
\u00a0
2,
\u00a0
2022
\u00a0
authorized
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
to
\u00a0
repurchase
\u00a0
the
\u00a0
company\u2019s
\u00a0
own
\u00a0
shares.
\u00a0
The
\u00a0
General
\u00a0
Meeting
\u00a0
approved
\u00a0
the
\u00a0
authorization
for
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
to
\u00a0
repurchase
\u00a0
KONE\u2019s
\u00a0
own
\u00a0
shares.
\u00a0
Altogether
\u00a0
no
\u00a0
more
\u00a0
than
\u00a0
52,930,000
\u00a0
shares
\u00a0
may
\u00a0
be
\u00a0
repurchased,
\u00a0
of
\u00a0
which
\u00a0
no
\u00a0
more
\u00a0
than
\u00a0
7,620,000
\u00a0
may
\u00a0
be
\u00a0
class
\u00a0
A
\u00a0
shares
\u00a0
and
45,310,000
\u00a0
class
\u00a0
B
\u00a0
shares.
The
\u00a0
minimum
\u00a0
and
\u00a0
maximum
\u00a0
consideration
\u00a0
for
\u00a0
the
\u00a0
shares
\u00a0
to
\u00a0
be
\u00a0
purchased
\u00a0
is
\u00a0
determined
\u00a0
for
\u00a0
both
\u00a0
class
\u00a0
A
\u00a0
and
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
on
\u00a0
the
\u00a0
basis
\u00a0
of
\u00a0
the
\u00a0
trading
\u00a0
price
\u00a0
for
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
determined
\u00a0
on
\u00a0
the
Nasdaq
\u00a0
Helsinki
\u00a0
Ltd.
\u00a0
on
\u00a0
the
\u00a0
time
\u00a0
of
\u00a0
purchase.
A
\u00a0
total
\u00a0
of
\u00a0
1,083,500
\u00a0
B
\u00a0
class
\u00a0
shares
\u00a0
were
\u00a0
purchased
\u00a0
by
\u00a0
KONE
\u00a0
on
\u00a0
the
\u00a0
Helsinki
\u00a0
Stock
\u00a0
Exchange
\u00a0
(Nasdaq
\u00a0
Helsinki
\u00a0
Ltd)
\u00a0
in
\u00a0
2022.
\u00a0
The
\u00a0
total
\u00a0
amount
\u00a0
paid
\u00a0
to
\u00a0
acquire
\u00a0
shares
\u00a0
amounted
\u00a0
to
\u00a0
EUR
\u00a0
50.0
million
\u00a0
with
\u00a0
the
\u00a0
average
\u00a0
market
\u00a0
price
\u00a0
totaling
\u00a0
EUR
\u00a0
46.11
\u00a0
per
\u00a0
share
\u00a0
prevailing
\u00a0
at
\u00a0
the
\u00a0
time
\u00a0
of
\u00a0
purchase.
\u00a0
All
\u00a0
shares
\u00a0
held
\u00a0
by
\u00a0
KONE
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
consisted
\u00a0
of
\u00a0
B
\u00a0
class
\u00a0
shares.
Own
\u00a0
shares
Number
\u00a0
of
\u00a0
shares
Acquisition
\u00a0
cost,
\u00a0
MEUR
Jan
\u00a0
1,
\u00a0
2022
11,433,525
198.6
Distributed
\u00a0
to
\u00a0
the
\u00a0
share-based
\u00a0
incentive
\u00a0
plan,
\u00a0
February
-218,091
-12.1
Returned
\u00a0
from
\u00a0
the
\u00a0
share-based
\u00a0
incentive
\u00a0
plan,
\u00a0
February
9,518
0.4
Distributed
\u00a0
as
\u00a0
the
\u00a0
annual
\u00a0
compensation
\u00a0
of
\u00a0
the
\u00a0
Board,
\u00a0
April
-7,664
-0.5
Returned
\u00a0
from
\u00a0
the
\u00a0
share-based
\u00a0
incentive
\u00a0
plan,
\u00a0
April
1,269
0.0
Returned
\u00a0
from
\u00a0
the
\u00a0
share-based
\u00a0
incentive
\u00a0
plan,
\u00a0
July
2,468
0.1
Purchase,
\u00a0
November
150,000
6.3
Purchase,
\u00a0
November
120,000
5.3
Purchase,
\u00a0
November
100,000
4.4
Purchase,
\u00a0
November
50,000
2.2
Purchase,
\u00a0
November
130,000
5.9
Purchase,
\u00a0
November
130,000
6.0
Purchase,
\u00a0
November
150,000
7.4
Purchase,
\u00a0
November
150,000
7.5
Purchase,
\u00a0
November
103,500
5.0
Returned
\u00a0
from
\u00a0
the
\u00a0
share-based
\u00a0
incentive
\u00a0
plan,
\u00a0
December
2,115
0.1
Dec
\u00a0
31,
\u00a0
2022
12,306,640
236.6
Jan
\u00a0
1,
\u00a0
2021
11,006,006
164.7
Distributed
\u00a0
to
\u00a0
the
\u00a0
share-based
\u00a0
incentive
\u00a0
plan,
\u00a0
January
-155,115
-5.7
Distributed
\u00a0
as
\u00a0
the
\u00a0
annual
\u00a0
compensation
\u00a0
of
\u00a0
the
\u00a0
Board,
\u00a0
April
-4,984
-0.2
Distributed
\u00a0
to
\u00a0
the
\u00a0
share-based
\u00a0
incentive
\u00a0
plan,
\u00a0
April
-171,231
-6.3
Returned
\u00a0
from
\u00a0
the
\u00a0
share-based
\u00a0
incentive
\u00a0
plan,
\u00a0
April
8,849
0.3
Purchase,
\u00a0
November
150,000
8.9
Purchase,
\u00a0
November
160,000
9.7
Purchase,
\u00a0
November
150,000
9.1
Purchase,
\u00a0
November
150,000
9.3
Purchase,
\u00a0
November
140,000
8.8
Dec
\u00a0
31,
\u00a0
2021
11,433,525
198.6
Reconciliation
\u00a0
of
\u00a0
own
\u00a0
shares,
\u00a0
Dec
\u00a0
31,
\u00a0
2022
KONE
\u00a0
Corporation
\u00a0
and
\u00a0
Group
\u00a0
total
Quantity
Acquisition
\u00a0
cost
Average
\u00a0
price
Dec
\u00a0
31,
\u00a0
2021
11,433,525
198,574,506.75
17.37
February
\u00a0
03,
\u00a0
2022
-218,091
-12,070,057.07
55.34
February
\u00a0
03,
\u00a0
2022
9,518
350,288.48
36.80
April
\u00a0
28,
\u00a0
2022
-7,664
-463,562.35
60.49
April
\u00a0
28,
\u00a0
2022
1,269
46,702.68
36.80
July
\u00a0
21,
\u00a0
2022
2,468
90,829.16
36.80
November
\u00a0
03,
\u00a0
2022
150,000
6,274,282.33
41.83
November
\u00a0
04,
\u00a0
2022
120,000
5,278,329.64
43.99
November
\u00a0
07,
\u00a0
2022
100,000
4,418,357.61
44.18
November
\u00a0
08,
\u00a0
2022
50,000
2,207,260.93
44.15
November
\u00a0
09,
\u00a0
2022
130,000
5,922,817.92
45.56
November
\u00a0
10,
\u00a0
2022
130,000
6,037,259.33
46.44
November
\u00a0
11,
\u00a0
2022
150,000
7,369,242.31
49.13
November
\u00a0
14,
\u00a0
2022
150,000
7,507,539.44
50.05
November
\u00a0
15,
\u00a0
2022
103,500
5,014,758.07
48.45
December
\u00a0
21,
\u00a0
2022
2,115
77,837.80
36.80
Dec
\u00a0
31,
\u00a0
2022
12,306,640
236,636,393.03
19.23
Accounting
\u00a0
principles
Equity
\u00a0
and
\u00a0
profit
\u00a0
distribution
The
\u00a0
total
\u00a0
shareholders\u2019
\u00a0
equity
\u00a0
consists
\u00a0
of
\u00a0
the
\u00a0
share
\u00a0
capital,
\u00a0
the
\u00a0
share
\u00a0
premium
\u00a0
account,
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
other
\u00a0
reserves,
\u00a0
translation
\u00a0
differences,
\u00a0
the
\u00a0
paid-up
\u00a0
unrestricted
\u00a0
equity
\u00a0
reserve,
remeasurements
\u00a0
of
\u00a0
employee
\u00a0
benefits
\u00a0
and
\u00a0
retained
\u00a0
earnings.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
other
\u00a0
reserves
\u00a0
include
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
cash
\u00a0
flow
\u00a0
hedges.
\u00a0
Differences
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
application
\u00a0
of
\u00a0
the
acquisition
\u00a0
method
\u00a0
on
\u00a0
the
\u00a0
translation
\u00a0
of
\u00a0
the
\u00a0
net
\u00a0
investment
\u00a0
in
\u00a0
foreign
\u00a0
subsidiaries
\u00a0
and
\u00a0
associated
\u00a0
companies
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
translation
\u00a0
differences.
\u00a0
Exchange
\u00a0
rate
\u00a0
differences
\u00a0
resulting
\u00a0
from
financial
\u00a0
instruments
\u00a0
intended
\u00a0
as
\u00a0
hedges
\u00a0
of
\u00a0
the
\u00a0
net
\u00a0
assets
\u00a0
in
\u00a0
foreign
\u00a0
subsidiaries
\u00a0
are
\u00a0
also
\u00a0
recognized
\u00a0
as
\u00a0
translation
\u00a0
differe
\u00a0
nces.
\u00a0
Actuarial
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
arising
\u00a0
from
\u00a0
revaluation
\u00a0
of
\u00a0
employee
benefits
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
remeasurements
\u00a0
of
\u00a0
employee
\u00a0
benefits.
\u00a0
The
\u00a0
purchase
\u00a0
price
\u00a0
of
\u00a0
own
\u00a0
shares
\u00a0
purchased
\u00a0
by
\u00a0
KONE
\u00a0
Corporation
\u00a0
is
\u00a0
deducted
\u00a0
from
\u00a0
retained
\u00a0
earnings.
\u00a0
The
\u00a0
net
\u00a0
income
\u00a0
for
\u00a0
the
accounting
\u00a0
period
\u00a0
is
\u00a0
recognized
\u00a0
directly
\u00a0
in
\u00a0
retained
\u00a0
earnings.
When
\u00a0
KONE
\u00a0
Corporation
\u00a0
purchases
\u00a0
its
\u00a0
own
\u00a0
shares,
\u00a0
the
\u00a0
consideration
\u00a0
paid
\u00a0
and
\u00a0
costs
\u00a0
directly
\u00a0
attributable
\u00a0
to
\u00a0
the
\u00a0
purchase
\u00a0
transaction
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
a
\u00a0
deduction
\u00a0
in
\u00a0
equity.
\u00a0
When
\u00a0
such
\u00a0
shares
are
\u00a0
sold,
\u00a0
the
\u00a0
consideration
\u00a0
received,
\u00a0
net
\u00a0
of
\u00a0
directly
\u00a0
attributable
\u00a0
transaction
\u00a0
costs,
\u00a0
is
\u00a0
included
\u00a0
in
\u00a0
equity.
Profit
\u00a0
distribution
\u00a0
includes
\u00a0
dividends
\u00a0
and
\u00a0
donations
\u00a0
decided
\u00a0
by
\u00a0
the
\u00a0
Shareholders\u2019
\u00a0
Meeting.
\u00a0
The
\u00a0
dividend
\u00a0
and
\u00a0
distribution
\u00a0
of
\u00a0
profits
\u00a0
proposed
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
\u00a0
KONE
\u00a0
Corporation
\u00a0
for
\u00a0
the
financial
\u00a0
year
\u00a0
ended,
\u00a0
is
\u00a0
not
\u00a0
deducted
\u00a0
from
\u00a0
the
\u00a0
equity
\u00a0
prior
\u00a0
to
\u00a0
acceptance
\u00a0
by
\u00a0
a
\u00a0
Shareholders\u2019
\u00a0
Meeting.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_74": { "value": "
Accounting
\u00a0
principles
Equity
\u00a0
and
\u00a0
profit
\u00a0
distribution
The
\u00a0
total
\u00a0
shareholders\u2019
\u00a0
equity
\u00a0
consists
\u00a0
of
\u00a0
the
\u00a0
share
\u00a0
capital,
\u00a0
the
\u00a0
share
\u00a0
premium
\u00a0
account,
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
other
\u00a0
reserves,
\u00a0
translation
\u00a0
differences,
\u00a0
the
\u00a0
paid-up
\u00a0
unrestricted
\u00a0
equity
\u00a0
reserve,
remeasurements
\u00a0
of
\u00a0
employee
\u00a0
benefits
\u00a0
and
\u00a0
retained
\u00a0
earnings.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
other
\u00a0
reserves
\u00a0
include
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
cash
\u00a0
flow
\u00a0
hedges.
\u00a0
Differences
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
application
\u00a0
of
\u00a0
the
acquisition
\u00a0
method
\u00a0
on
\u00a0
the
\u00a0
translation
\u00a0
of
\u00a0
the
\u00a0
net
\u00a0
investment
\u00a0
in
\u00a0
foreign
\u00a0
subsidiaries
\u00a0
and
\u00a0
associated
\u00a0
companies
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
translation
\u00a0
differences.
\u00a0
Exchange
\u00a0
rate
\u00a0
differences
\u00a0
resulting
\u00a0
from
financial
\u00a0
instruments
\u00a0
intended
\u00a0
as
\u00a0
hedges
\u00a0
of
\u00a0
the
\u00a0
net
\u00a0
assets
\u00a0
in
\u00a0
foreign
\u00a0
subsidiaries
\u00a0
are
\u00a0
also
\u00a0
recognized
\u00a0
as
\u00a0
translation
\u00a0
differe
\u00a0
nces.
\u00a0
Actuarial
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
arising
\u00a0
from
\u00a0
revaluation
\u00a0
of
\u00a0
employee
benefits
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
remeasurements
\u00a0
of
\u00a0
employee
\u00a0
benefits.
\u00a0
The
\u00a0
purchase
\u00a0
price
\u00a0
of
\u00a0
own
\u00a0
shares
\u00a0
purchased
\u00a0
by
\u00a0
KONE
\u00a0
Corporation
\u00a0
is
\u00a0
deducted
\u00a0
from
\u00a0
retained
\u00a0
earnings.
\u00a0
The
\u00a0
net
\u00a0
income
\u00a0
for
\u00a0
the
accounting
\u00a0
period
\u00a0
is
\u00a0
recognized
\u00a0
directly
\u00a0
in
\u00a0
retained
\u00a0
earnings.
When
\u00a0
KONE
\u00a0
Corporation
\u00a0
purchases
\u00a0
its
\u00a0
own
\u00a0
shares,
\u00a0
the
\u00a0
consideration
\u00a0
paid
\u00a0
and
\u00a0
costs
\u00a0
directly
\u00a0
attributable
\u00a0
to
\u00a0
the
\u00a0
purchase
\u00a0
transaction
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
a
\u00a0
deduction
\u00a0
in
\u00a0
equity.
\u00a0
When
\u00a0
such
\u00a0
shares
are
\u00a0
sold,
\u00a0
the
\u00a0
consideration
\u00a0
received,
\u00a0
net
\u00a0
of
\u00a0
directly
\u00a0
attributable
\u00a0
transaction
\u00a0
costs,
\u00a0
is
\u00a0
included
\u00a0
in
\u00a0
equity.
Profit
\u00a0
distribution
\u00a0
includes
\u00a0
dividends
\u00a0
and
\u00a0
donations
\u00a0
decided
\u00a0
by
\u00a0
the
\u00a0
Shareholders\u2019
\u00a0
Meeting.
\u00a0
The
\u00a0
dividend
\u00a0
and
\u00a0
distribution
\u00a0
of
\u00a0
profits
\u00a0
proposed
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
\u00a0
KONE
\u00a0
Corporation
\u00a0
for
\u00a0
the
financial
\u00a0
year
\u00a0
ended,
\u00a0
is
\u00a0
not
\u00a0
deducted
\u00a0
from
\u00a0
the
\u00a0
equity
\u00a0
prior
\u00a0
to
\u00a0
acceptance
\u00a0
by
\u00a0
a
\u00a0
Shareholders\u2019
\u00a0
Meeting.
KONE
\u00a0
has
\u00a0
not
\u00a0
defined
\u00a0
a
\u00a0
specific
\u00a0
target
\u00a0
for
\u00a0
dividends
\u00a0
or
\u00a0
share
\u00a0
buy-backs.
\u00a0
The
\u00a0
dividend
\u00a0
proposal
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
is
\u00a0
determined
\u00a0
on
\u00a0
the
\u00a0
basis
\u00a0
of
\u00a0
the
\u00a0
overall
\u00a0
business
\u00a0
outlook,
\u00a0
business
opportunities,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
present
\u00a0
capital
\u00a0
structure
\u00a0
and
\u00a0
the
\u00a0
anticipated
\u00a0
changes
\u00a0
in
\u00a0
it.
\u00a0
In
\u00a0
2018\u20132022,
\u00a0
the
\u00a0
dividend
\u00a0
payout
\u00a0
ratio
\u00a0
has
\u00a0
been
\u00a0
94.2\u2013124.0%
\u00a0
for
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
(2022
\u00a0
proposal
\u00a0
by
\u00a0
the
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
\u00a0
KONE
\u00a0
Corporation).
\u00a0
At
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
December
\u00a0
2022,
\u00a0
KONE
\u00a0
had
\u00a0
12,306,640
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
in
\u00a0
its
\u00a0
possession.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_11": { "value": "
Accounting
\u00a0
principles
Equity
\u00a0
and
\u00a0
profit
\u00a0
distribution
The
\u00a0
total
\u00a0
shareholders\u2019
\u00a0
equity
\u00a0
consists
\u00a0
of
\u00a0
the
\u00a0
share
\u00a0
capital,
\u00a0
the
\u00a0
share
\u00a0
premium
\u00a0
account,
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
other
\u00a0
reserves,
\u00a0
translation
\u00a0
differences,
\u00a0
the
\u00a0
paid-up
\u00a0
unrestricted
\u00a0
equity
\u00a0
reserve,
remeasurements
\u00a0
of
\u00a0
employee
\u00a0
benefits
\u00a0
and
\u00a0
retained
\u00a0
earnings.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
other
\u00a0
reserves
\u00a0
include
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
cash
\u00a0
flow
\u00a0
hedges.
\u00a0
Differences
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
application
\u00a0
of
\u00a0
the
acquisition
\u00a0
method
\u00a0
on
\u00a0
the
\u00a0
translation
\u00a0
of
\u00a0
the
\u00a0
net
\u00a0
investment
\u00a0
in
\u00a0
foreign
\u00a0
subsidiaries
\u00a0
and
\u00a0
associated
\u00a0
companies
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
translation
\u00a0
differences.
\u00a0
Exchange
\u00a0
rate
\u00a0
differences
\u00a0
resulting
\u00a0
from
financial
\u00a0
instruments
\u00a0
intended
\u00a0
as
\u00a0
hedges
\u00a0
of
\u00a0
the
\u00a0
net
\u00a0
assets
\u00a0
in
\u00a0
foreign
\u00a0
subsidiaries
\u00a0
are
\u00a0
also
\u00a0
recognized
\u00a0
as
\u00a0
translation
\u00a0
differe
\u00a0
nces.
\u00a0
Actuarial
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
arising
\u00a0
from
\u00a0
revaluation
\u00a0
of
\u00a0
employee
benefits
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
remeasurements
\u00a0
of
\u00a0
employee
\u00a0
benefits.
\u00a0
The
\u00a0
purchase
\u00a0
price
\u00a0
of
\u00a0
own
\u00a0
shares
\u00a0
purchased
\u00a0
by
\u00a0
KONE
\u00a0
Corporation
\u00a0
is
\u00a0
deducted
\u00a0
from
\u00a0
retained
\u00a0
earnings.
\u00a0
The
\u00a0
net
\u00a0
income
\u00a0
for
\u00a0
the
accounting
\u00a0
period
\u00a0
is
\u00a0
recognized
\u00a0
directly
\u00a0
in
\u00a0
retained
\u00a0
earnings.
When
\u00a0
KONE
\u00a0
Corporation
\u00a0
purchases
\u00a0
its
\u00a0
own
\u00a0
shares,
\u00a0
the
\u00a0
consideration
\u00a0
paid
\u00a0
and
\u00a0
costs
\u00a0
directly
\u00a0
attributable
\u00a0
to
\u00a0
the
\u00a0
purchase
\u00a0
transaction
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
a
\u00a0
deduction
\u00a0
in
\u00a0
equity.
\u00a0
When
\u00a0
such
\u00a0
shares
are
\u00a0
sold,
\u00a0
the
\u00a0
consideration
\u00a0
received,
\u00a0
net
\u00a0
of
\u00a0
directly
\u00a0
attributable
\u00a0
transaction
\u00a0
costs,
\u00a0
is
\u00a0
included
\u00a0
in
\u00a0
equity.
Profit
\u00a0
distribution
\u00a0
includes
\u00a0
dividends
\u00a0
and
\u00a0
donations
\u00a0
decided
\u00a0
by
\u00a0
the
\u00a0
Shareholders\u2019
\u00a0
Meeting.
\u00a0
The
\u00a0
dividend
\u00a0
and
\u00a0
distribution
\u00a0
of
\u00a0
profits
\u00a0
proposed
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
\u00a0
KONE
\u00a0
Corporation
\u00a0
for
\u00a0
the
financial
\u00a0
year
\u00a0
ended,
\u00a0
is
\u00a0
not
\u00a0
deducted
\u00a0
from
\u00a0
the
\u00a0
equity
\u00a0
prior
\u00a0
to
\u00a0
acceptance
\u00a0
by
\u00a0
a
\u00a0
Shareholders\u2019
\u00a0
Meeting.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_10": { "value": "
Accounting
\u00a0
principles
Equity
\u00a0
and
\u00a0
profit
\u00a0
distribution
The
\u00a0
total
\u00a0
shareholders\u2019
\u00a0
equity
\u00a0
consists
\u00a0
of
\u00a0
the
\u00a0
share
\u00a0
capital,
\u00a0
the
\u00a0
share
\u00a0
premium
\u00a0
account,
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
other
\u00a0
reserves,
\u00a0
translation
\u00a0
differences,
\u00a0
the
\u00a0
paid-up
\u00a0
unrestricted
\u00a0
equity
\u00a0
reserve,
remeasurements
\u00a0
of
\u00a0
employee
\u00a0
benefits
\u00a0
and
\u00a0
retained
\u00a0
earnings.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
other
\u00a0
reserves
\u00a0
include
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
cash
\u00a0
flow
\u00a0
hedges.
\u00a0
Differences
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
application
\u00a0
of
\u00a0
the
acquisition
\u00a0
method
\u00a0
on
\u00a0
the
\u00a0
translation
\u00a0
of
\u00a0
the
\u00a0
net
\u00a0
investment
\u00a0
in
\u00a0
foreign
\u00a0
subsidiaries
\u00a0
and
\u00a0
associated
\u00a0
companies
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
translation
\u00a0
differences.
\u00a0
Exchange
\u00a0
rate
\u00a0
differences
\u00a0
resulting
\u00a0
from
financial
\u00a0
instruments
\u00a0
intended
\u00a0
as
\u00a0
hedges
\u00a0
of
\u00a0
the
\u00a0
net
\u00a0
assets
\u00a0
in
\u00a0
foreign
\u00a0
subsidiaries
\u00a0
are
\u00a0
also
\u00a0
recognized
\u00a0
as
\u00a0
translation
\u00a0
differe
\u00a0
nces.
\u00a0
Actuarial
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
arising
\u00a0
from
\u00a0
revaluation
\u00a0
of
\u00a0
employee
benefits
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
remeasurements
\u00a0
of
\u00a0
employee
\u00a0
benefits.
\u00a0
The
\u00a0
purchase
\u00a0
price
\u00a0
of
\u00a0
own
\u00a0
shares
\u00a0
purchased
\u00a0
by
\u00a0
KONE
\u00a0
Corporation
\u00a0
is
\u00a0
deducted
\u00a0
from
\u00a0
retained
\u00a0
earnings.
\u00a0
The
\u00a0
net
\u00a0
income
\u00a0
for
\u00a0
the
accounting
\u00a0
period
\u00a0
is
\u00a0
recognized
\u00a0
directly
\u00a0
in
\u00a0
retained
\u00a0
earnings.
When
\u00a0
KONE
\u00a0
Corporation
\u00a0
purchases
\u00a0
its
\u00a0
own
\u00a0
shares,
\u00a0
the
\u00a0
consideration
\u00a0
paid
\u00a0
and
\u00a0
costs
\u00a0
directly
\u00a0
attributable
\u00a0
to
\u00a0
the
\u00a0
purchase
\u00a0
transaction
\u00a0
are
\u00a0
recognized
\u00a0
as
\u00a0
a
\u00a0
deduction
\u00a0
in
\u00a0
equity.
\u00a0
When
\u00a0
such
\u00a0
shares
are
\u00a0
sold,
\u00a0
the
\u00a0
consideration
\u00a0
received,
\u00a0
net
\u00a0
of
\u00a0
directly
\u00a0
attributable
\u00a0
transaction
\u00a0
costs,
\u00a0
is
\u00a0
included
\u00a0
in
\u00a0
equity.
Profit
\u00a0
distribution
\u00a0
includes
\u00a0
dividends
\u00a0
and
\u00a0
donations
\u00a0
decided
\u00a0
by
\u00a0
the
\u00a0
Shareholders\u2019
\u00a0
Meeting.
\u00a0
The
\u00a0
dividend
\u00a0
and
\u00a0
distribution
\u00a0
of
\u00a0
profits
\u00a0
proposed
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
\u00a0
KONE
\u00a0
Corporation
\u00a0
for
\u00a0
the
financial
\u00a0
year
\u00a0
ended,
\u00a0
is
\u00a0
not
\u00a0
deducted
\u00a0
from
\u00a0
the
\u00a0
equity
\u00a0
prior
\u00a0
to
\u00a0
acceptance
\u00a0
by
\u00a0
a
\u00a0
Shareholders\u2019
\u00a0
Meeting.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_24": { "value": "
KONE\u2019s
\u00a0
business
\u00a0
activities
\u00a0
are
\u00a0
exposed
\u00a0
to
\u00a0
financial
\u00a0
risks
\u00a0
such
\u00a0
as
\u00a0
foreign
\u00a0
exchange
\u00a0
risks,
\u00a0
interest
\u00a0
rate
\u00a0
risks,
\u00a0
liquidity
\u00a0
risks
\u00a0
and
\u00a0
credit
\u00a0
risks.
\u00a0
These
\u00a0
financial
\u00a0
risks
\u00a0
are
\u00a0
managed
\u00a0
as
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
total
KONE
\u00a0
risk
\u00a0
portfolio.
\u00a0
KONE
\u00a0
Treasury
\u00a0
is
\u00a0
responsible
\u00a0
for
\u00a0
the
\u00a0
centralized
\u00a0
management
\u00a0
of
\u00a0
financial
\u00a0
risks
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
KONE
\u00a0
Treasury
\u00a0
Policy
\u00a0
approved
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors.
\u00a0
KONE
business
\u00a0
units
\u00a0
manage
\u00a0
their
\u00a0
financial
\u00a0
risks
\u00a0
locally
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
KONE
\u00a0
Treasury
\u00a0
Policy.
Interest
\u00a0
rate
\u00a0
risks
KONE\u2019s
\u00a0
cash
\u00a0
and
\u00a0
short
\u00a0
-term
\u00a0
investments
\u00a0
were
\u00a0
EUR
\u00a0
1,965.6
\u00a0
(2,884.1)
\u00a0
million
\u00a0
at
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
date.
\u00a0
At
\u00a0
the
\u00a0
same
\u00a0
time,
\u00a0
KONE\u2019s
\u00a0
interest-bearing
\u00a0
debt
\u00a0
was
\u00a0
EUR
\u00a0
673.9
\u00a0
(746.5)
million
\u00a0
and
\u00a0
consisted
\u00a0
of
\u00a0
EUR
\u00a0
532.6
\u00a0
(547.1)
\u00a0
million
\u00a0
of
\u00a0
financial
\u00a0
debt
\u00a0
including
\u00a0
lease
\u00a0
liabilities,
\u00a0
EUR
\u00a0
1.3
\u00a0
(5.1)
\u00a0
million
\u00a0
of
\u00a0
option
\u00a0
liabilities
\u00a0
from
\u00a0
acquisitions,
\u00a0
and
\u00a0
EUR
\u00a0
140.0
\u00a0
(194.3)
\u00a0
million
\u00a0
of
\u00a0
employee
benefit
\u00a0
liabilities.
\u00a0
Additionally,
\u00a0
KONE
\u00a0
had
\u00a0
an
\u00a0
asset
\u00a0
on
\u00a0
employee
\u00a0
benefits
\u00a0
of
\u00a0
EUR
\u00a0
10.0
\u00a0
(22.9)
\u00a0
million.
As
\u00a0
KONE\u2019s
\u00a0
financial
\u00a0
investments
\u00a0
are
\u00a0
mainly
\u00a0
invested
\u00a0
in
\u00a0
tenors
\u00a0
of
\u00a0
less
\u00a0
than
\u00a0
one
\u00a0
year,
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
interest
\u00a0
rates
\u00a0
do
\u00a0
not
\u00a0
have
\u00a0
any
\u00a0
significant
\u00a0
impact
\u00a0
on
\u00a0
their
\u00a0
market
\u00a0
values.
\u00a0
Changes
\u00a0
in
\u00a0
the
\u00a0
interest
\u00a0
rates
\u00a0
may
\u00a0
however
\u00a0
impact
\u00a0
future
\u00a0
interest
\u00a0
income.
When
\u00a0
calculating
\u00a0
the
\u00a0
interest
\u00a0
rate
\u00a0
sensitivity
\u00a0
analysis,
\u00a0
the
\u00a0
interest
\u00a0
-bearing
\u00a0
net
\u00a0
financial
\u00a0
debt,
\u00a0
excluding
\u00a0
foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts,
\u00a0
is
\u00a0
assumed
\u00a0
to
\u00a0
remain
\u00a0
on
\u00a0
the
\u00a0
level
\u00a0
of
\u00a0
the
\u00a0
closing
balance
\u00a0
of
\u00a0
2022
\u00a0
during
\u00a0
the
\u00a0
following
\u00a0
financial
\u00a0
period.
\u00a0
The
\u00a0
sensitivity
\u00a0
analysis
\u00a0
presents
\u00a0
the
\u00a0
impact
\u00a0
of
\u00a0
a
\u00a0
1
\u00a0
percentage
\u00a0
point
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
interest
\u00a0
rate
\u00a0
level
\u00a0
on
\u00a0
the
\u00a0
net
\u00a0
interest
\u00a0
income
\u00a0
for
\u00a0
the
\u00a0
financial
period
\u00a0
by
\u00a0
taking
\u00a0
into
\u00a0
account
\u00a0
the
\u00a0
net
\u00a0
financial
\u00a0
debt
\u00a0
tied
\u00a0
to
\u00a0
interest
\u00a0
periods
\u00a0
of
\u00a0
less
\u00a0
than
\u00a0
one
\u00a0
year,
\u00a0
EUR
\u00a0
-1,854.5
\u00a0
(-2,768.5)
\u00a0
million.
\u00a0
For
\u00a0
2022
\u00a0
a
\u00a0
1
\u00a0
percentage
\u00a0
point
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
interest
\u00a0
rate
\u00a0
level
would
\u00a0
mean
\u00a0
a
\u00a0
change
\u00a0
of
\u00a0
EUR
\u00a0
-18.5
\u00a0
(-27.7)
\u00a0
million
\u00a0
in
\u00a0
net
\u00a0
interest
\u00a0
income.
\u00a0
The
\u00a0
interest
\u00a0
rate
\u00a0
sensitivity
\u00a0
is
\u00a0
calculated
\u00a0
before
\u00a0
taxes.
A
\u00a0
change
\u00a0
in
\u00a0
interest
\u00a0
rates
\u00a0
does
\u00a0
not
\u00a0
have
\u00a0
a
\u00a0
material
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
net
\u00a0
interest
\u00a0
on
\u00a0
employee
\u00a0
benefits,
\u00a0
on
\u00a0
financial
\u00a0
debt
\u00a0
or
\u00a0
option
\u00a0
liabilities
\u00a0
from
\u00a0
acquisition.
Financial
\u00a0
credit
\u00a0
risk
KONE
\u00a0
has
\u00a0
substantial
\u00a0
amounts
\u00a0
of
\u00a0
cash
\u00a0
and
\u00a0
financial
\u00a0
investments.
\u00a0
In
\u00a0
order
\u00a0
to
\u00a0
diversify
\u00a0
the
\u00a0
financial
\u00a0
credit
\u00a0
risk
\u00a0
and
\u00a0
manage
\u00a0
liquidity
\u00a0
risk,
\u00a0
funds
\u00a0
are
\u00a0
invested
\u00a0
into
\u00a0
highly
\u00a0
liquid
\u00a0
interest
\u00a0
rate
\u00a0
funds
\u00a0
and
deposits
\u00a0
with
\u00a0
several
\u00a0
banks.
\u00a0
Global
\u00a0
counterparty
\u00a0
limits
\u00a0
are
\u00a0
approved
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors.
\u00a0
All
\u00a0
open
\u00a0
exposures
\u00a0
such
\u00a0
as
\u00a0
cash
\u00a0
on
\u00a0
bank
\u00a0
accounts,
\u00a0
investments,
\u00a0
deposits
\u00a0
and
\u00a0
other
\u00a0
financial
\u00a0
assets,
for
\u00a0
example
\u00a0
derivatives
\u00a0
contracts,
\u00a0
are
\u00a0
included
\u00a0
when
\u00a0
measuring
\u00a0
the
\u00a0
financial
\u00a0
credit
\u00a0
risk
\u00a0
exposure.
\u00a0
When
\u00a0
selecting
\u00a0
counterparty
\u00a0
banks
\u00a0
and
\u00a0
other
\u00a0
investment
\u00a0
targets,
\u00a0
only
\u00a0
counterparties
\u00a0
with
\u00a0
high
creditworthiness
\u00a0
are
\u00a0
approved.
\u00a0
The
\u00a0
size
\u00a0
of
\u00a0
each
\u00a0
limit
\u00a0
reflects
\u00a0
the
\u00a0
creditworthiness
\u00a0
of
\u00a0
the
\u00a0
counterparty.
\u00a0
Counterparty
\u00a0
creditworthiness
\u00a0
is
\u00a0
evaluated
\u00a0
constantly
\u00a0
and
\u00a0
the
\u00a0
required
\u00a0
actions
\u00a0
are
\u00a0
considered
case
\u00a0
by
\u00a0
case
\u00a0
if
\u00a0
significant
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
creditworthiness
\u00a0
of
\u00a0
a
\u00a0
counterparty
\u00a0
occur.
\u00a0
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
interest
\u00a0
rate
\u00a0
funds
\u00a0
are
\u00a0
measured
\u00a0
based
\u00a0
on
\u00a0
market
\u00a0
information
\u00a0
(fair
\u00a0
value
\u00a0
hierarchy
\u00a0
level
\u00a0
2).
\u00a0
Refinancing
\u00a0
and
\u00a0
liquidity
\u00a0
risks
KONE\u2019s
\u00a0
cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
\u00a0
was
\u00a0
EUR
\u00a0
495.5
\u00a0
(490.4)
\u00a0
million
\u00a0
and
\u00a0
financial
\u00a0
investments
\u00a0
EUR
\u00a0
1,470.1
\u00a0
(2,393.7)
\u00a0
million
\u00a0
on
\u00a0
December
\u00a0
31,
\u00a0
2022.
Cash
\u00a0
and
\u00a0
financial
\u00a0
investments
\u00a0
are
\u00a0
managed
\u00a0
centrally
\u00a0
by
\u00a0
KONE
\u00a0
Treasury.
\u00a0
Due
\u00a0
to
\u00a0
local
\u00a0
regulations,
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
funds
\u00a0
reside
\u00a0
in
\u00a0
local
\u00a0
investments
\u00a0
and
\u00a0
on
\u00a0
decentralized
\u00a0
bank
\u00a0
accounts
\u00a0
in
\u00a0
a
\u00a0
number
of
\u00a0
KONE
\u00a0
countries.
\u00a0
A
\u00a0
substantial
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
funds
\u00a0
is
\u00a0
nevertheless
\u00a0
accessible
\u00a0
to
\u00a0
KONE
\u00a0
Treasury.
\u00a0
Changes
\u00a0
in
\u00a0
the
\u00a0
local
\u00a0
regulations
\u00a0
can
\u00a0
also
\u00a0
in
\u00a0
the
\u00a0
future
\u00a0
have
\u00a0
an
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
location
\u00a0
of
\u00a0
the
\u00a0
cash
and
\u00a0
financial
\u00a0
investments.
KONE
\u00a0
has
\u00a0
a
\u00a0
credit
\u00a0
facility
\u00a0
of
\u00a0
EUR
\u00a0
200
\u00a0
(0)
\u00a0
million
\u00a0
and
\u00a0
a
\u00a0
loan
\u00a0
of
\u00a0
EUR
\u00a0
200
\u00a0
(200)
\u00a0
million
\u00a0
from
\u00a0
the
\u00a0
European
\u00a0
Investment
\u00a0
Bank
\u00a0
(EIB)
\u00a0
for
\u00a0
R&D
\u00a0
purposes.
\u00a0
The
\u00a0
fixed
\u00a0
interest
\u00a0
rate
\u00a0
loan
\u00a0
will
\u00a0
mature
\u00a0
in
2026.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
loan
\u00a0
is
\u00a0
estimated
\u00a0
based
\u00a0
on
\u00a0
discounted
\u00a0
cash
\u00a0
flow
\u00a0
method
\u00a0
using
\u00a0
a
\u00a0
current
\u00a0
borrowing
\u00a0
rate
\u00a0
(level
\u00a0
2
\u00a0
fair
\u00a0
value
\u00a0
hierarchy)
\u00a0
as
\u00a0
the
\u00a0
discount
\u00a0
rate.
\u00a0
KONE
\u00a0
has
\u00a0
also
\u00a0
an
\u00a0
uncommitted
commercial
\u00a0
paper
\u00a0
program
\u00a0
of
\u00a0
EUR
\u00a0
500
\u00a0
(500)
\u00a0
million
\u00a0
and
\u00a0
a
\u00a0
sustainability-linked
\u00a0
revolving
\u00a0
credit
\u00a0
facility
\u00a0
of
\u00a0
EUR
\u00a0
850
\u00a0
(850)
\u00a0
million
\u00a0
to
\u00a0
ensure
\u00a0
sufficient
\u00a0
liquidity.
\u00a0
The
\u00a0
sustainability
\u00a0
targets
\u00a0
included
\u00a0
in
\u00a0
the
facility
\u00a0
relate
\u00a0
to
\u00a0
KONE\u2019s
\u00a0
decarbonization
\u00a0
and
\u00a0
gender
\u00a0
diversity
\u00a0
commitments.
5.3
\u00a0
FINANCIAL
\u00a0
RISKS
\u00a0
AND
\u00a0
INSTRUMENTS
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_26": { "value": "
Refinancing
\u00a0
and
\u00a0
liquidity
\u00a0
risks
KONE\u2019s
\u00a0
cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
\u00a0
was
\u00a0
EUR
\u00a0
495.5
\u00a0
(490.4)
\u00a0
million
\u00a0
and
\u00a0
financial
\u00a0
investments
\u00a0
EUR
\u00a0
1,470.1
\u00a0
(2,393.7)
\u00a0
million
\u00a0
on
\u00a0
December
\u00a0
31,
\u00a0
2022.
Cash
\u00a0
and
\u00a0
financial
\u00a0
investments
\u00a0
are
\u00a0
managed
\u00a0
centrally
\u00a0
by
\u00a0
KONE
\u00a0
Treasury.
\u00a0
Due
\u00a0
to
\u00a0
local
\u00a0
regulations,
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
funds
\u00a0
reside
\u00a0
in
\u00a0
local
\u00a0
investments
\u00a0
and
\u00a0
on
\u00a0
decentralized
\u00a0
bank
\u00a0
accounts
\u00a0
in
\u00a0
a
\u00a0
number
of
\u00a0
KONE
\u00a0
countries.
\u00a0
A
\u00a0
substantial
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
funds
\u00a0
is
\u00a0
nevertheless
\u00a0
accessible
\u00a0
to
\u00a0
KONE
\u00a0
Treasury.
\u00a0
Changes
\u00a0
in
\u00a0
the
\u00a0
local
\u00a0
regulations
\u00a0
can
\u00a0
also
\u00a0
in
\u00a0
the
\u00a0
future
\u00a0
have
\u00a0
an
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
location
\u00a0
of
\u00a0
the
\u00a0
cash
and
\u00a0
financial
\u00a0
investments.
KONE
\u00a0
has
\u00a0
a
\u00a0
credit
\u00a0
facility
\u00a0
of
\u00a0
EUR
\u00a0
200
\u00a0
(0)
\u00a0
million
\u00a0
and
\u00a0
a
\u00a0
loan
\u00a0
of
\u00a0
EUR
\u00a0
200
\u00a0
(200)
\u00a0
million
\u00a0
from
\u00a0
the
\u00a0
European
\u00a0
Investment
\u00a0
Bank
\u00a0
(EIB)
\u00a0
for
\u00a0
R&D
\u00a0
purposes.
\u00a0
The
\u00a0
fixed
\u00a0
interest
\u00a0
rate
\u00a0
loan
\u00a0
will
\u00a0
mature
\u00a0
in
2026.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
loan
\u00a0
is
\u00a0
estimated
\u00a0
based
\u00a0
on
\u00a0
discounted
\u00a0
cash
\u00a0
flow
\u00a0
method
\u00a0
using
\u00a0
a
\u00a0
current
\u00a0
borrowing
\u00a0
rate
\u00a0
(level
\u00a0
2
\u00a0
fair
\u00a0
value
\u00a0
hierarchy)
\u00a0
as
\u00a0
the
\u00a0
discount
\u00a0
rate.
\u00a0
KONE
\u00a0
has
\u00a0
also
\u00a0
an
\u00a0
uncommitted
commercial
\u00a0
paper
\u00a0
program
\u00a0
of
\u00a0
EUR
\u00a0
500
\u00a0
(500)
\u00a0
million
\u00a0
and
\u00a0
a
\u00a0
sustainability-linked
\u00a0
revolving
\u00a0
credit
\u00a0
facility
\u00a0
of
\u00a0
EUR
\u00a0
850
\u00a0
(850)
\u00a0
million
\u00a0
to
\u00a0
ensure
\u00a0
sufficient
\u00a0
liquidity.
\u00a0
The
\u00a0
sustainability
\u00a0
targets
\u00a0
included
\u00a0
in
\u00a0
the
facility
\u00a0
relate
\u00a0
to
\u00a0
KONE\u2019s
\u00a0
decarbonization
\u00a0
and
\u00a0
gender
\u00a0
diversity
\u00a0
commitments.
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_25": { "value": "
Refinancing
\u00a0
and
\u00a0
liquidity
\u00a0
risks
KONE\u2019s
\u00a0
cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
\u00a0
was
\u00a0
EUR
\u00a0
495.5
\u00a0
(490.4)
\u00a0
million
\u00a0
and
\u00a0
financial
\u00a0
investments
\u00a0
EUR
\u00a0
1,470.1
\u00a0
(2,393.7)
\u00a0
million
\u00a0
on
\u00a0
December
\u00a0
31,
\u00a0
2022.
Cash
\u00a0
and
\u00a0
financial
\u00a0
investments
\u00a0
are
\u00a0
managed
\u00a0
centrally
\u00a0
by
\u00a0
KONE
\u00a0
Treasury.
\u00a0
Due
\u00a0
to
\u00a0
local
\u00a0
regulations,
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
funds
\u00a0
reside
\u00a0
in
\u00a0
local
\u00a0
investments
\u00a0
and
\u00a0
on
\u00a0
decentralized
\u00a0
bank
\u00a0
accounts
\u00a0
in
\u00a0
a
\u00a0
number
of
\u00a0
KONE
\u00a0
countries.
\u00a0
A
\u00a0
substantial
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
funds
\u00a0
is
\u00a0
nevertheless
\u00a0
accessible
\u00a0
to
\u00a0
KONE
\u00a0
Treasury.
\u00a0
Changes
\u00a0
in
\u00a0
the
\u00a0
local
\u00a0
regulations
\u00a0
can
\u00a0
also
\u00a0
in
\u00a0
the
\u00a0
future
\u00a0
have
\u00a0
an
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
location
\u00a0
of
\u00a0
the
\u00a0
cash
and
\u00a0
financial
\u00a0
investments.
KONE
\u00a0
has
\u00a0
a
\u00a0
credit
\u00a0
facility
\u00a0
of
\u00a0
EUR
\u00a0
200
\u00a0
(0)
\u00a0
million
\u00a0
and
\u00a0
a
\u00a0
loan
\u00a0
of
\u00a0
EUR
\u00a0
200
\u00a0
(200)
\u00a0
million
\u00a0
from
\u00a0
the
\u00a0
European
\u00a0
Investment
\u00a0
Bank
\u00a0
(EIB)
\u00a0
for
\u00a0
R&D
\u00a0
purposes.
\u00a0
The
\u00a0
fixed
\u00a0
interest
\u00a0
rate
\u00a0
loan
\u00a0
will
\u00a0
mature
\u00a0
in
2026.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
loan
\u00a0
is
\u00a0
estimated
\u00a0
based
\u00a0
on
\u00a0
discounted
\u00a0
cash
\u00a0
flow
\u00a0
method
\u00a0
using
\u00a0
a
\u00a0
current
\u00a0
borrowing
\u00a0
rate
\u00a0
(level
\u00a0
2
\u00a0
fair
\u00a0
value
\u00a0
hierarchy)
\u00a0
as
\u00a0
the
\u00a0
discount
\u00a0
rate.
\u00a0
KONE
\u00a0
has
\u00a0
also
\u00a0
an
\u00a0
uncommitted
commercial
\u00a0
paper
\u00a0
program
\u00a0
of
\u00a0
EUR
\u00a0
500
\u00a0
(500)
\u00a0
million
\u00a0
and
\u00a0
a
\u00a0
sustainability-linked
\u00a0
revolving
\u00a0
credit
\u00a0
facility
\u00a0
of
\u00a0
EUR
\u00a0
850
\u00a0
(850)
\u00a0
million
\u00a0
to
\u00a0
ensure
\u00a0
sufficient
\u00a0
liquidity.
\u00a0
The
\u00a0
sustainability
\u00a0
targets
\u00a0
included
\u00a0
in
\u00a0
the
facility
\u00a0
relate
\u00a0
to
\u00a0
KONE\u2019s
\u00a0
decarbonization
\u00a0
and
\u00a0
gender
\u00a0
diversity
\u00a0
commitments.
Values
\u00a0
of
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
by
\u00a0
categories
Dec
\u00a0
31,
\u00a0
2022
Notes
Measured
\u00a0
at
fair
\u00a0
value
through
profit
\u00a0
or
\u00a0
loss
Measured
\u00a0
at
amortized
cost
Measured
\u00a0
at
fair
\u00a0
value
through
\u00a0
other
comprehensive
income
Other
Total
\u00a0
book
value
Non-current
\u00a0
assets
Shares
\u00a0
and
\u00a0
other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
5.4
121.7
121.7
Non-current
\u00a0
loans
\u00a0
receivable
I
5.5
2.5
2.5
Employee
\u00a0
benefits
I
5.7
10.0
10.0
Current
\u00a0
assets
Accounts
\u00a0
receivable
2,668.1
2,668.1
Derivative
\u00a0
assets
6.4
20.8
27.2
Current
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable
I
5.5
820.8
654.1
1,474.9
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
I
495.5
495.5
Total
\u00a0
financial
\u00a0
assets
827.2
3,820.2
142.5
10.0
4,799.9
Non-current
\u00a0
liabilities
Loans
\u00a0
\u00b9
\u207e
I
200.0
217.9
417.9
Employee
\u00a0
benefits
I
5.7
140.0
140.0
Current
\u00a0
liabilities
Loans
\u00a0
\u00b2
\u207e
I
106.1
106.1
Current
\u00a0
loans
\u00a0
and
\u00a0
other
\u00a0
liabilities
I
8.6
8.6
Option
\u00a0
liabilities
\u00a0
from
\u00a0
acquisitions
I
1.3
1.3
Accounts
\u00a0
payable
1,132.8
1,132.8
Derivative
\u00a0
liabilities
17.3
15.4
32.7
Unpaid
\u00a0
acquisition
\u00a0
consideration
17.0
17.0
Total
\u00a0
financial
\u00a0
liabilities
18.7
1,341.4
15.4
481.0
1,856.3
\u00b9
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
217.9
\u00a0
million.
\u00b2
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
106.1
\u00a0
million.
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
not
\u00a0
materially
\u00a0
different
\u00a0
from
\u00a0
their
\u00a0
book
\u00a0
values.
Interest-bearing
\u00a0
net
\u00a0
debt
\u00a0
comprises
\u00a0
items
\u00a0
marked
\u00a0
with
\u00a0
\u201c
\u00a0
I
\u00a0
\u201c.
Dec
\u00a0
31,
\u00a0
2021
Notes
Measured
\u00a0
at
fair
\u00a0
value
through
profit
\u00a0
or
\u00a0
loss
Measured
\u00a0
at
amortized
cost
Measured
\u00a0
at
fair
\u00a0
value
through
\u00a0
other
comprehensive
income
Other
Total
\u00a0
book
value
Non-current
\u00a0
assets
Shares
\u00a0
and
\u00a0
other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
I
5.4
144.6
144.6
Non-current
\u00a0
loans
\u00a0
receivable
I
5.5
2.6
2.6
Employee
\u00a0
benefits
I
5.7
22.9
22.9
Current
\u00a0
assets
Accounts
\u00a0
receivable
2,421.4
2,421.4
Derivative
\u00a0
assets
88.4
88.4
Current
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable
I
5.5
1,906.6
488.1
2,394.7
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
I
490.4
490.4
Total
\u00a0
financial
\u00a0
assets
1,995.0
3,402.5
144.6
22.9
5,565.0
Non-current
\u00a0
liabilities
Loans
\u00a0
\u00b9
\u207e
I
200.0
235.4
435.4
Employee
\u00a0
benefits
I
5.7
194.3
194.3
Current
\u00a0
liabilities
Loans
\u00a0
\u00b2
\u207e
I
108.3
108.3
Current
\u00a0
loans
\u00a0
and
\u00a0
other
\u00a0
liabilities
I
3.4
3.4
Option
\u00a0
liabilities
\u00a0
from
\u00a0
acquisitions
I
5.1
5.1
Accounts
\u00a0
payable
1,310.2
1,310.2
Derivative
\u00a0
liabilities
3.8
38.5
42.3
Unpaid
\u00a0
acquisition
\u00a0
consideration
21.2
21.2
Total
\u00a0
financial
\u00a0
liabilities
9.0
1,513.6
38.5
559.2
2,120.3
\u00b9
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
235.4
\u00a0
million.
\u00b2
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
108.3
\u00a0
million.
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
not
\u00a0
materially
\u00a0
different
\u00a0
from
\u00a0
their
\u00a0
book
\u00a0
values.
Interest-bearing
\u00a0
net
\u00a0
debt
\u00a0
comprises
\u00a0
items
\u00a0
marked
\u00a0
with
\u00a0
\u201c
\u00a0
I
\u00a0
\u201c.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_94": { "value": "
Interest
\u00a0
rate
\u00a0
risks
KONE\u2019s
\u00a0
cash
\u00a0
and
\u00a0
short
\u00a0
-term
\u00a0
investments
\u00a0
were
\u00a0
EUR
\u00a0
1,965.6
\u00a0
(2,884.1)
\u00a0
million
\u00a0
at
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
date.
\u00a0
At
\u00a0
the
\u00a0
same
\u00a0
time,
\u00a0
KONE\u2019s
\u00a0
interest-bearing
\u00a0
debt
\u00a0
was
\u00a0
EUR
\u00a0
673.9
\u00a0
(746.5)
million
\u00a0
and
\u00a0
consisted
\u00a0
of
\u00a0
EUR
\u00a0
532.6
\u00a0
(547.1)
\u00a0
million
\u00a0
of
\u00a0
financial
\u00a0
debt
\u00a0
including
\u00a0
lease
\u00a0
liabilities,
\u00a0
EUR
\u00a0
1.3
\u00a0
(5.1)
\u00a0
million
\u00a0
of
\u00a0
option
\u00a0
liabilities
\u00a0
from
\u00a0
acquisitions,
\u00a0
and
\u00a0
EUR
\u00a0
140.0
\u00a0
(194.3)
\u00a0
million
\u00a0
of
\u00a0
employee
benefit
\u00a0
liabilities.
\u00a0
Additionally,
\u00a0
KONE
\u00a0
had
\u00a0
an
\u00a0
asset
\u00a0
on
\u00a0
employee
\u00a0
benefits
\u00a0
of
\u00a0
EUR
\u00a0
10.0
\u00a0
(22.9)
\u00a0
million.
As
\u00a0
KONE\u2019s
\u00a0
financial
\u00a0
investments
\u00a0
are
\u00a0
mainly
\u00a0
invested
\u00a0
in
\u00a0
tenors
\u00a0
of
\u00a0
less
\u00a0
than
\u00a0
one
\u00a0
year,
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
interest
\u00a0
rates
\u00a0
do
\u00a0
not
\u00a0
have
\u00a0
any
\u00a0
significant
\u00a0
impact
\u00a0
on
\u00a0
their
\u00a0
market
\u00a0
values.
\u00a0
Changes
\u00a0
in
\u00a0
the
\u00a0
interest
\u00a0
rates
\u00a0
may
\u00a0
however
\u00a0
impact
\u00a0
future
\u00a0
interest
\u00a0
income.
When
\u00a0
calculating
\u00a0
the
\u00a0
interest
\u00a0
rate
\u00a0
sensitivity
\u00a0
analysis,
\u00a0
the
\u00a0
interest
\u00a0
-bearing
\u00a0
net
\u00a0
financial
\u00a0
debt,
\u00a0
excluding
\u00a0
foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts,
\u00a0
is
\u00a0
assumed
\u00a0
to
\u00a0
remain
\u00a0
on
\u00a0
the
\u00a0
level
\u00a0
of
\u00a0
the
\u00a0
closing
balance
\u00a0
of
\u00a0
2022
\u00a0
during
\u00a0
the
\u00a0
following
\u00a0
financial
\u00a0
period.
\u00a0
The
\u00a0
sensitivity
\u00a0
analysis
\u00a0
presents
\u00a0
the
\u00a0
impact
\u00a0
of
\u00a0
a
\u00a0
1
\u00a0
percentage
\u00a0
point
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
interest
\u00a0
rate
\u00a0
level
\u00a0
on
\u00a0
the
\u00a0
net
\u00a0
interest
\u00a0
income
\u00a0
for
\u00a0
the
\u00a0
financial
period
\u00a0
by
\u00a0
taking
\u00a0
into
\u00a0
account
\u00a0
the
\u00a0
net
\u00a0
financial
\u00a0
debt
\u00a0
tied
\u00a0
to
\u00a0
interest
\u00a0
periods
\u00a0
of
\u00a0
less
\u00a0
than
\u00a0
one
\u00a0
year,
\u00a0
EUR
\u00a0
-1,854.5
\u00a0
(-2,768.5)
\u00a0
million.
\u00a0
For
\u00a0
2022
\u00a0
a
\u00a0
1
\u00a0
percentage
\u00a0
point
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
interest
\u00a0
rate
\u00a0
level
would
\u00a0
mean
\u00a0
a
\u00a0
change
\u00a0
of
\u00a0
EUR
\u00a0
-18.5
\u00a0
(-27.7)
\u00a0
million
\u00a0
in
\u00a0
net
\u00a0
interest
\u00a0
income.
\u00a0
The
\u00a0
interest
\u00a0
rate
\u00a0
sensitivity
\u00a0
is
\u00a0
calculated
\u00a0
before
\u00a0
taxes.
A
\u00a0
change
\u00a0
in
\u00a0
interest
\u00a0
rates
\u00a0
does
\u00a0
not
\u00a0
have
\u00a0
a
\u00a0
material
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
net
\u00a0
interest
\u00a0
on
\u00a0
employee
\u00a0
benefits,
\u00a0
on
\u00a0
financial
\u00a0
debt
\u00a0
or
\u00a0
option
\u00a0
liabilities
\u00a0
from
\u00a0
acquisition.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_27": { "value": "
Derivatives
Treasury
\u00a0
policy
\u00a0
for
\u00a0
hedging
\u00a0
purposes
\u00a0
is
\u00a0
applied
\u00a0
to
\u00a0
all
\u00a0
derivative
\u00a0
contracts.
The
\u00a0
majority
\u00a0
of
\u00a0
the
\u00a0
foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts
\u00a0
and
\u00a0
swaps
\u00a0
mature
\u00a0
within
\u00a0
a
\u00a0
year.
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts
\u00a0
and
\u00a0
swaps
\u00a0
are
\u00a0
measured
\u00a0
based
\u00a0
on
\u00a0
price
\u00a0
information
\u00a0
derived
\u00a0
from
\u00a0
active
\u00a0
markets
\u00a0
and
\u00a0
commonly
\u00a0
used
\u00a0
valuation
\u00a0
methods
\u00a0
(fair
\u00a0
value
hierarchy
\u00a0
level
\u00a0
2).
\u00a0
Financial
\u00a0
contracts
\u00a0
are
\u00a0
executed
\u00a0
only
\u00a0
with
\u00a0
counterparties
\u00a0
that
\u00a0
have
\u00a0
high
\u00a0
credit
\u00a0
ratings.
\u00a0
The
\u00a0
credit
\u00a0
risk
\u00a0
of
\u00a0
the
\u00a0
counterparties
\u00a0
and
\u00a0
KONE
\u00a0
is
\u00a0
considered
\u00a0
when
\u00a0
assessing
\u00a0
the
\u00a0
fair
values
\u00a0
of
\u00a0
outstanding
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities.
\u00a0
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
derivatives
\u00a0
are
\u00a0
represented
\u00a0
in
\u00a0
the
\u00a0
balance
\u00a0
on
\u00a0
a
\u00a0
gross
\u00a0
basis
\u00a0
and
\u00a0
can
\u00a0
be
\u00a0
set
\u00a0
off
\u00a0
on
\u00a0
conditional
\u00a0
terms
\u00a0
such
\u00a0
as
\u00a0
breach
\u00a0
of
\u00a0
contract
\u00a0
or
\u00a0
bankruptcy.
\u00a0
Derivative
\u00a0
financial
receivables
\u00a0
from
\u00a0
counterparties
\u00a0
after
\u00a0
set
\u00a0
off
\u00a0
would
\u00a0
be
\u00a0
EUR
\u00a0
4.0
\u00a0
(49.9)
\u00a0
million
\u00a0
and
\u00a0
payables
\u00a0
EUR
\u00a0
9.4
\u00a0
(3.9)
\u00a0
million.
Fair
\u00a0
values
\u00a0
of
\u00a0
derivative
\u00a0
financial
\u00a0
instruments,
\u00a0
MEUR
Derivative
\u00a0
assets
Dec
\u00a0
31,
\u00a0
2022
Derivative
liabilities,
Dec
\u00a0
31,
\u00a0
2021
Fair
\u00a0
value,
\u00a0
net
Dec
\u00a0
31,
\u00a0
2022
Fair
\u00a0
value,
\u00a0
net
Dec
\u00a0
31,
\u00a0
2021
Foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts
\u00a0
and
\u00a0
swaps
In
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
20.8
-14.6
6.2
5.2
In
\u00a0
net
\u00a0
investment
\u00a0
hedge
\u00a0
accounting
-
-0.8
-0.8
-23.3
Other
\u00a0
hedges
6.4
-17.3
-11.0
64.1
Total
27.2
-32.7
-5.5
46.0
Nominal
\u00a0
values
\u00a0
of
\u00a0
derivative
\u00a0
financial
\u00a0
instruments,
\u00a0
MEUR
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts
\u00a0
and
\u00a0
swaps
In
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
1,009.7
945.6
In
\u00a0
net
\u00a0
investment
\u00a0
hedge
\u00a0
accounting
224.0
429.5
Other
\u00a0
hedges
1,741.2
2,230.2
Total
2,974.8
3,605.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_30": { "value": "
Derivative
\u00a0
financial
\u00a0
instruments
\u00a0
and
\u00a0
hedge
\u00a0
accounting
Derivative
\u00a0
financial
\u00a0
instruments
\u00a0
are
\u00a0
initially
\u00a0
and
\u00a0
subsequently
\u00a0
recognized
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position.
\u00a0
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts
\u00a0
are
\u00a0
calculated
\u00a0
by
discounting
\u00a0
the
\u00a0
future
\u00a0
cash
\u00a0
flows
\u00a0
of
\u00a0
the
\u00a0
contracts
\u00a0
with
\u00a0
the
\u00a0
relevant
\u00a0
market
\u00a0
interest
\u00a0
rate
\u00a0
yield
\u00a0
curves
\u00a0
on
\u00a0
the
\u00a0
valuation
\u00a0
date
\u00a0
and
\u00a0
by
\u00a0
calculating
\u00a0
the
\u00a0
difference
\u00a0
between
\u00a0
the
\u00a0
discounted
\u00a0
values
\u00a0
as
\u00a0
at
\u00a0
the
forward
\u00a0
contract
\u00a0
date
\u00a0
and
\u00a0
balance
\u00a0
sheet
\u00a0
date
\u00a0
in
\u00a0
euros.
\u00a0
At
\u00a0
the
\u00a0
contract
\u00a0
date
\u00a0
the
\u00a0
derivatives
\u00a0
are
\u00a0
classified
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
foreign
\u00a0
exchange
\u00a0
policy
\u00a0
as
\u00a0
hedging
\u00a0
instruments
\u00a0
of
\u00a0
a
\u00a0
business
\u00a0
transaction
\u00a0
arising
\u00a0
from
\u00a0
a
\u00a0
firm
\u00a0
or
\u00a0
highly
\u00a0
probable
\u00a0
purchase
\u00a0
or
sales
\u00a0
contract.
\u00a0
These
\u00a0
are
\u00a0
partly
\u00a0
included
\u00a0
in
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting,
\u00a0
hedges
\u00a0
against
\u00a0
fair
\u00a0
value
\u00a0
changes
\u00a0
of
\u00a0
assets
\u00a0
or
\u00a0
liabilities
\u00a0
or
\u00a0
hedges
\u00a0
of
\u00a0
net
\u00a0
investments
\u00a0
in
\u00a0
foreign
\u00a0
entities.
In
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
\u00a0
KONE
\u00a0
uses
\u00a0
foreign
\u00a0
currency
\u00a0
forward
\u00a0
contracts
\u00a0
to
\u00a0
hedge
\u00a0
its
\u00a0
exposure
\u00a0
in
\u00a0
foreign
\u00a0
currency
\u00a0
dominated
\u00a0
cash
\u00a0
flows
\u00a0
which
\u00a0
ensures
\u00a0
economic
\u00a0
relationship
\u00a0
between
\u00a0
the
hedged
\u00a0
item
\u00a0
and
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
and
\u00a0
full
\u00a0
effectiveness
\u00a0
as
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
and
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
hedged
\u00a0
item
\u00a0
move
\u00a0
in
\u00a0
the
\u00a0
opposite
\u00a0
direction
\u00a0
because
\u00a0
of
\u00a0
the
\u00a0
common
underlying
\u00a0
denominator.
\u00a0
The
\u00a0
full
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
derivatives,
\u00a0
including
\u00a0
transaction
\u00a0
related
\u00a0
forward
\u00a0
points,
\u00a0
is
\u00a0
designated
\u00a0
in
\u00a0
the
\u00a0
hedging
\u00a0
relationship.
The
\u00a0
effective
\u00a0
portion
\u00a0
of
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
foreign
\u00a0
exchange
\u00a0
derivatives
\u00a0
initiated
\u00a0
for
\u00a0
hedging
\u00a0
firm
\u00a0
or
\u00a0
highly
\u00a0
probable
\u00a0
future
\u00a0
purchase
\u00a0
or
\u00a0
sales
\u00a0
transactions
\u00a0
is
\u00a0
recognized
\u00a0
through
\u00a0
the
statement
\u00a0
of
\u00a0
comprehensive
\u00a0
income
\u00a0
to
\u00a0
the
\u00a0
hedge
\u00a0
reserve
\u00a0
within
\u00a0
equity.
\u00a0
The
\u00a0
cumulative
\u00a0
changes
\u00a0
of
\u00a0
fair
\u00a0
values
\u00a0
are
\u00a0
transferred
\u00a0
into
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
adjustment
\u00a0
items
\u00a0
to
\u00a0
costs
\u00a0
and
expenses
\u00a0
simultaneously
\u00a0
when
\u00a0
the
\u00a0
hedged
\u00a0
sale
\u00a0
or
\u00a0
purchase
\u00a0
realizes.
\u00a0
When
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
\u00a0
is
\u00a0
applied,
\u00a0
at
\u00a0
the
\u00a0
inception
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
transaction
\u00a0
the
\u00a0
economic
\u00a0
relationship
\u00a0
between
hedging
\u00a0
instruments
\u00a0
and
\u00a0
hedged
\u00a0
items
\u00a0
is
\u00a0
documented
\u00a0
including
\u00a0
whether
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
offset
\u00a0
changes
\u00a0
in
\u00a0
cash
\u00a0
flows
\u00a0
of
\u00a0
hedged
\u00a0
items.
\u00a0
Also,
\u00a0
the
\u00a0
risk
\u00a0
management
\u00a0
objective
and
\u00a0
strategy
\u00a0
for
\u00a0
undertaking
\u00a0
various
\u00a0
hedge
\u00a0
transactions
\u00a0
is
\u00a0
documented
\u00a0
at
\u00a0
the
\u00a0
inception
\u00a0
of
\u00a0
each
\u00a0
hedge
\u00a0
relationship.
\u00a0
Hedge
\u00a0
effe
\u00a0
ctiveness
\u00a0
is
\u00a0
assessed
\u00a0
before
\u00a0
hedge
\u00a0
accounting
\u00a0
is
\u00a0
applied
\u00a0
and
\u00a0
at
\u00a0
least
on
\u00a0
a
\u00a0
quarterly
\u00a0
basis
\u00a0
thereafter.
The
\u00a0
gain
\u00a0
or
\u00a0
loss
\u00a0
relating
\u00a0
to
\u00a0
the
\u00a0
ineffective
\u00a0
portion
\u00a0
is
\u00a0
recognized
\u00a0
immediately
\u00a0
as
\u00a0
an
\u00a0
adjustment
\u00a0
to
\u00a0
cost
\u00a0
and
\u00a0
expenses.
\u00a0
In
\u00a0
hedges
\u00a0
of
\u00a0
foreign
\u00a0
currency
\u00a0
transaction,
\u00a0
ineffectiveness
\u00a0
may
\u00a0
arise
\u00a0
if
\u00a0
the
timing
\u00a0
of
\u00a0
the
\u00a0
forecast
\u00a0
transaction
\u00a0
changes
\u00a0
from
\u00a0
what
\u00a0
was
\u00a0
originally
\u00a0
estimated.
\u00a0
If
\u00a0
a
\u00a0
foreign
\u00a0
exchange
\u00a0
derivative
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
\u00a0
expires
\u00a0
or
\u00a0
is
\u00a0
sold
\u00a0
or
\u00a0
when
\u00a0
a
\u00a0
hedge
\u00a0
no
longer
\u00a0
meets
\u00a0
the
\u00a0
criteria
\u00a0
for
\u00a0
hedge
\u00a0
accounting,
\u00a0
the
\u00a0
cumulative
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
will
\u00a0
remain
\u00a0
in
\u00a0
the
\u00a0
hedge
\u00a0
reserve
\u00a0
and
\u00a0
is
\u00a0
recognized
\u00a0
in
\u00a0
the
\u00a0
income
\u00a0
statement
\u00a0
at
\u00a0
the
same
\u00a0
time
\u00a0
with
\u00a0
the
\u00a0
hedged
\u00a0
sale
\u00a0
or
\u00a0
purchase.
\u00a0
The
\u00a0
cumulative
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
instruments
\u00a0
are
\u00a0
transferred
\u00a0
from
\u00a0
the
\u00a0
hedge
\u00a0
reserve
\u00a0
to
\u00a0
adjust
\u00a0
cost
\u00a0
and
\u00a0
expenses
\u00a0
immediately
\u00a0
if
\u00a0
the
\u00a0
hedged
cash
\u00a0
flow
\u00a0
is
\u00a0
no
\u00a0
longer
\u00a0
expected
\u00a0
to
\u00a0
occur.
\u00a0
The
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
derivatives
\u00a0
that
\u00a0
are
\u00a0
designated
\u00a0
as
\u00a0
hedging
\u00a0
instruments
\u00a0
but
\u00a0
are
\u00a0
not
\u00a0
accounted
\u00a0
for
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
principles
\u00a0
of
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
\u00a0
are
\u00a0
recognized
based
\u00a0
on
\u00a0
their
\u00a0
nature
\u00a0
either
\u00a0
in
\u00a0
the
\u00a0
operative
\u00a0
income
\u00a0
or
\u00a0
costs,
\u00a0
or
\u00a0
as
\u00a0
financial
\u00a0
income
\u00a0
or
\u00a0
expenses:
\u00a0
if
\u00a0
the
\u00a0
hedged
\u00a0
risk
\u00a0
arises
\u00a0
from
\u00a0
an
\u00a0
operative
\u00a0
transaction,
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
instruments
are
\u00a0
recognized
\u00a0
in
\u00a0
costs
\u00a0
and
\u00a0
expenses,
\u00a0
and
\u00a0
if
\u00a0
the
\u00a0
hedged
\u00a0
item
\u00a0
is
\u00a0
a
\u00a0
monetary
\u00a0
item,
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
are
\u00a0
recognized
\u00a0
in
\u00a0
financing
\u00a0
items.
\u00a0
Changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
foreign
\u00a0
exchange
\u00a0
derivatives
\u00a0
are
\u00a0
recognized
\u00a0
in
\u00a0
financing
\u00a0
income
\u00a0
and
\u00a0
expenses
\u00a0
if
\u00a0
the
\u00a0
hedged
\u00a0
item
\u00a0
is
\u00a0
a
\u00a0
loan
\u00a0
receivable,
\u00a0
deposit
\u00a0
or
\u00a0
a
\u00a0
financial
\u00a0
asset
\u00a0
or
\u00a0
liability
denominated
\u00a0
in
\u00a0
a
\u00a0
foreign
\u00a0
currency.
The
\u00a0
effective
\u00a0
portion
\u00a0
of
\u00a0
the
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
currency
\u00a0
forward
\u00a0
contracts
\u00a0
hedging
\u00a0
translation
\u00a0
differences
\u00a0
arising
\u00a0
from
\u00a0
net
\u00a0
investments
\u00a0
in
\u00a0
foreign
\u00a0
subsidiaries,
\u00a0
are
\u00a0
recognized
\u00a0
through
\u00a0
the
statement
\u00a0
of
\u00a0
comprehensive
\u00a0
income
\u00a0
to
\u00a0
the
\u00a0
translation
\u00a0
differences
\u00a0
within
\u00a0
equity
\u00a0
and
\u00a0
would
\u00a0
be
\u00a0
transferred
\u00a0
to
\u00a0
the
\u00a0
income
\u00a0
statement
\u00a0
in
\u00a0
case
\u00a0
the
\u00a0
net
\u00a0
investment
\u00a0
were
\u00a0
disposed
\u00a0
of
\u00a0
partially
\u00a0
or
\u00a0
in
\u00a0
its
entirety.
\u00a0
The
\u00a0
hedged
\u00a0
risk
\u00a0
is
\u00a0
designated
\u00a0
as
\u00a0
movements
\u00a0
in
\u00a0
the
\u00a0
spot
\u00a0
rate
\u00a0
(excluding
\u00a0
changes
\u00a0
due
\u00a0
to
\u00a0
interest
\u00a0
rates
\u00a0
i.e.
\u00a0
forward
\u00a0
points).
\u00a0
Changes
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
due
\u00a0
to
\u00a0
the
\u00a0
forward
points
\u00a0
(cost
\u00a0
of
\u00a0
hedging)
\u00a0
are
\u00a0
immediately
\u00a0
recognized
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
income.
Fair
\u00a0
values
\u00a0
of
\u00a0
derivative
\u00a0
instruments
\u00a0
are
\u00a0
recognized
\u00a0
under
\u00a0
current
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
in
\u00a0
the
\u00a0
balance
\u00a0
sheet.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_31": { "value": "
Loans
Loans
\u00a0
payable
\u00a0
are
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
presented
\u00a0
as
\u00a0
part
\u00a0
of
\u00a0
other
\u00a0
financial
\u00a0
liabilities.
\u00a0
They
\u00a0
are
\u00a0
measured
\u00a0
initially
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
net
\u00a0
of
\u00a0
directly
\u00a0
attributable
\u00a0
transaction
\u00a0
costs
incurred
\u00a0
and
\u00a0
are
\u00a0
subsequently
\u00a0
carried
\u00a0
at
\u00a0
amortized
\u00a0
cost
\u00a0
using
\u00a0
the
\u00a0
effective
\u00a0
interest
\u00a0
rate
\u00a0
method.
\u00a0
Lease
\u00a0
liabilities
\u00a0
are
\u00a0
measured
\u00a0
to
\u00a0
the
\u00a0
present
\u00a0
value
\u00a0
of
\u00a0
future
\u00a0
lease
\u00a0
payments
\u00a0
discounted
\u00a0
with
\u00a0
the
incremental
\u00a0
borrowing
\u00a0
rate.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_32": { "value": "
Financial
\u00a0
assets
Financial
\u00a0
assets
\u00a0
are
\u00a0
classified
\u00a0
into
\u00a0
three
\u00a0
categories:
\u00a0
measured
\u00a0
at
\u00a0
amortized
\u00a0
cost,
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
(FVOCI)
\u00a0
and
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
profit
\u00a0
or
\u00a0
loss.
The
\u00a0
classification
\u00a0
is
\u00a0
made
\u00a0
at
\u00a0
the
\u00a0
time
\u00a0
of
\u00a0
the
\u00a0
original
\u00a0
acquisition
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
objective
\u00a0
of
\u00a0
the
\u00a0
business
\u00a0
model
\u00a0
and
\u00a0
the
\u00a0
characteristics
\u00a0
of
\u00a0
contractual
\u00a0
cash
\u00a0
flows
\u00a0
of
\u00a0
the
\u00a0
investment.
KONE
\u00a0
assesses
\u00a0
on
\u00a0
a
\u00a0
forward-looking
\u00a0
basis
\u00a0
the
\u00a0
expected
\u00a0
credit
\u00a0
losses
\u00a0
associated
\u00a0
with
\u00a0
its
\u00a0
assets
\u00a0
carried
\u00a0
at
\u00a0
amortized
\u00a0
cost.
\u00a0
The
\u00a0
impairment
\u00a0
methodology
\u00a0
applied
\u00a0
depends
\u00a0
on
\u00a0
whether
\u00a0
there
\u00a0
has
been
\u00a0
a
\u00a0
significant
\u00a0
increase
\u00a0
in
\u00a0
credit
\u00a0
risk.
\u00a0
All
\u00a0
of
\u00a0
these
\u00a0
financial
\u00a0
assets
\u00a0
are
\u00a0
considered
\u00a0
to
\u00a0
have
\u00a0
low
\u00a0
credit
\u00a0
risk,
\u00a0
and
\u00a0
thus
\u00a0
the
\u00a0
impairment
\u00a0
provision
\u00a0
assessment
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
12
\u00a0
months
\u00a0
expected
\u00a0
losses.
Current
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable
Current
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable
\u00a0
are
\u00a0
initially
\u00a0
recognized
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
thereafter
\u00a0
at
\u00a0
amortized
\u00a0
cost
\u00a0
using
\u00a0
the
\u00a0
effec
\u00a0
tive
\u00a0
interest
\u00a0
rate
\u00a0
method
\u00a0
except
\u00a0
for
\u00a0
interest
\u00a0
rate
\u00a0
funds
\u00a0
which
\u00a0
are
\u00a0
classified
and
\u00a0
measured
\u00a0
as
\u00a0
investments
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
profit
\u00a0
or
\u00a0
loss.
\u00a0
Only
\u00a0
substantial
\u00a0
transaction
\u00a0
costs
\u00a0
are
\u00a0
considered
\u00a0
for
\u00a0
when
\u00a0
measuring
\u00a0
the
\u00a0
acquisition
\u00a0
cost.
Investments
\u00a0
in
\u00a0
commercial
\u00a0
papers,
\u00a0
short-term
\u00a0
bank
\u00a0
deposits,
\u00a0
interest
\u00a0
rate
\u00a0
funds
\u00a0
and
\u00a0
other
\u00a0
money
\u00a0
market
\u00a0
instruments
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_90": { "value": "
Current
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable
Current
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable
\u00a0
are
\u00a0
initially
\u00a0
recognized
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
thereafter
\u00a0
at
\u00a0
amortized
\u00a0
cost
\u00a0
using
\u00a0
the
\u00a0
effec
\u00a0
tive
\u00a0
interest
\u00a0
rate
\u00a0
method
\u00a0
except
\u00a0
for
\u00a0
interest
\u00a0
rate
\u00a0
funds
\u00a0
which
\u00a0
are
\u00a0
classified
and
\u00a0
measured
\u00a0
as
\u00a0
investments
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
profit
\u00a0
or
\u00a0
loss.
\u00a0
Only
\u00a0
substantial
\u00a0
transaction
\u00a0
costs
\u00a0
are
\u00a0
considered
\u00a0
for
\u00a0
when
\u00a0
measuring
\u00a0
the
\u00a0
acquisition
\u00a0
cost.
Investments
\u00a0
in
\u00a0
commercial
\u00a0
papers,
\u00a0
short-term
\u00a0
bank
\u00a0
deposits,
\u00a0
interest
\u00a0
rate
\u00a0
funds
\u00a0
and
\u00a0
other
\u00a0
money
\u00a0
market
\u00a0
instruments
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable.
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
\u00a0
include
\u00a0
cash-in-hand
\u00a0
and
\u00a0
bank
\u00a0
account
\u00a0
balances.
\u00a0
Bank
\u00a0
overdrafts
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
other
\u00a0
current
\u00a0
liabilities.
Accounting
\u00a0
principles
Derivative
\u00a0
financial
\u00a0
instruments
\u00a0
and
\u00a0
hedge
\u00a0
accounting
Derivative
\u00a0
financial
\u00a0
instruments
\u00a0
are
\u00a0
initially
\u00a0
and
\u00a0
subsequently
\u00a0
recognized
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position.
\u00a0
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts
\u00a0
are
\u00a0
calculated
\u00a0
by
discounting
\u00a0
the
\u00a0
future
\u00a0
cash
\u00a0
flows
\u00a0
of
\u00a0
the
\u00a0
contracts
\u00a0
with
\u00a0
the
\u00a0
relevant
\u00a0
market
\u00a0
interest
\u00a0
rate
\u00a0
yield
\u00a0
curves
\u00a0
on
\u00a0
the
\u00a0
valuation
\u00a0
date
\u00a0
and
\u00a0
by
\u00a0
calculating
\u00a0
the
\u00a0
difference
\u00a0
between
\u00a0
the
\u00a0
discounted
\u00a0
values
\u00a0
as
\u00a0
at
\u00a0
the
forward
\u00a0
contract
\u00a0
date
\u00a0
and
\u00a0
balance
\u00a0
sheet
\u00a0
date
\u00a0
in
\u00a0
euros.
\u00a0
At
\u00a0
the
\u00a0
contract
\u00a0
date
\u00a0
the
\u00a0
derivatives
\u00a0
are
\u00a0
classified
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
foreign
\u00a0
exchange
\u00a0
policy
\u00a0
as
\u00a0
hedging
\u00a0
instruments
\u00a0
of
\u00a0
a
\u00a0
business
\u00a0
transaction
\u00a0
arising
\u00a0
from
\u00a0
a
\u00a0
firm
\u00a0
or
\u00a0
highly
\u00a0
probable
\u00a0
purchase
\u00a0
or
sales
\u00a0
contract.
\u00a0
These
\u00a0
are
\u00a0
partly
\u00a0
included
\u00a0
in
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting,
\u00a0
hedges
\u00a0
against
\u00a0
fair
\u00a0
value
\u00a0
changes
\u00a0
of
\u00a0
assets
\u00a0
or
\u00a0
liabilities
\u00a0
or
\u00a0
hedges
\u00a0
of
\u00a0
net
\u00a0
investments
\u00a0
in
\u00a0
foreign
\u00a0
entities.
In
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
\u00a0
KONE
\u00a0
uses
\u00a0
foreign
\u00a0
currency
\u00a0
forward
\u00a0
contracts
\u00a0
to
\u00a0
hedge
\u00a0
its
\u00a0
exposure
\u00a0
in
\u00a0
foreign
\u00a0
currency
\u00a0
dominated
\u00a0
cash
\u00a0
flows
\u00a0
which
\u00a0
ensures
\u00a0
economic
\u00a0
relationship
\u00a0
between
\u00a0
the
hedged
\u00a0
item
\u00a0
and
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
and
\u00a0
full
\u00a0
effectiveness
\u00a0
as
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
and
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
hedged
\u00a0
item
\u00a0
move
\u00a0
in
\u00a0
the
\u00a0
opposite
\u00a0
direction
\u00a0
because
\u00a0
of
\u00a0
the
\u00a0
common
underlying
\u00a0
denominator.
\u00a0
The
\u00a0
full
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
derivatives,
\u00a0
including
\u00a0
transaction
\u00a0
related
\u00a0
forward
\u00a0
points,
\u00a0
is
\u00a0
designated
\u00a0
in
\u00a0
the
\u00a0
hedging
\u00a0
relationship.
The
\u00a0
effective
\u00a0
portion
\u00a0
of
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
foreign
\u00a0
exchange
\u00a0
derivatives
\u00a0
initiated
\u00a0
for
\u00a0
hedging
\u00a0
firm
\u00a0
or
\u00a0
highly
\u00a0
probable
\u00a0
future
\u00a0
purchase
\u00a0
or
\u00a0
sales
\u00a0
transactions
\u00a0
is
\u00a0
recognized
\u00a0
through
\u00a0
the
statement
\u00a0
of
\u00a0
comprehensive
\u00a0
income
\u00a0
to
\u00a0
the
\u00a0
hedge
\u00a0
reserve
\u00a0
within
\u00a0
equity.
\u00a0
The
\u00a0
cumulative
\u00a0
changes
\u00a0
of
\u00a0
fair
\u00a0
values
\u00a0
are
\u00a0
transferred
\u00a0
into
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
adjustment
\u00a0
items
\u00a0
to
\u00a0
costs
\u00a0
and
expenses
\u00a0
simultaneously
\u00a0
when
\u00a0
the
\u00a0
hedged
\u00a0
sale
\u00a0
or
\u00a0
purchase
\u00a0
realizes.
\u00a0
When
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
\u00a0
is
\u00a0
applied,
\u00a0
at
\u00a0
the
\u00a0
inception
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
transaction
\u00a0
the
\u00a0
economic
\u00a0
relationship
\u00a0
between
hedging
\u00a0
instruments
\u00a0
and
\u00a0
hedged
\u00a0
items
\u00a0
is
\u00a0
documented
\u00a0
including
\u00a0
whether
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
offset
\u00a0
changes
\u00a0
in
\u00a0
cash
\u00a0
flows
\u00a0
of
\u00a0
hedged
\u00a0
items.
\u00a0
Also,
\u00a0
the
\u00a0
risk
\u00a0
management
\u00a0
objective
and
\u00a0
strategy
\u00a0
for
\u00a0
undertaking
\u00a0
various
\u00a0
hedge
\u00a0
transactions
\u00a0
is
\u00a0
documented
\u00a0
at
\u00a0
the
\u00a0
inception
\u00a0
of
\u00a0
each
\u00a0
hedge
\u00a0
relationship.
\u00a0
Hedge
\u00a0
effe
\u00a0
ctiveness
\u00a0
is
\u00a0
assessed
\u00a0
before
\u00a0
hedge
\u00a0
accounting
\u00a0
is
\u00a0
applied
\u00a0
and
\u00a0
at
\u00a0
least
on
\u00a0
a
\u00a0
quarterly
\u00a0
basis
\u00a0
thereafter.
The
\u00a0
gain
\u00a0
or
\u00a0
loss
\u00a0
relating
\u00a0
to
\u00a0
the
\u00a0
ineffective
\u00a0
portion
\u00a0
is
\u00a0
recognized
\u00a0
immediately
\u00a0
as
\u00a0
an
\u00a0
adjustment
\u00a0
to
\u00a0
cost
\u00a0
and
\u00a0
expenses.
\u00a0
In
\u00a0
hedges
\u00a0
of
\u00a0
foreign
\u00a0
currency
\u00a0
transaction,
\u00a0
ineffectiveness
\u00a0
may
\u00a0
arise
\u00a0
if
\u00a0
the
timing
\u00a0
of
\u00a0
the
\u00a0
forecast
\u00a0
transaction
\u00a0
changes
\u00a0
from
\u00a0
what
\u00a0
was
\u00a0
originally
\u00a0
estimated.
\u00a0
If
\u00a0
a
\u00a0
foreign
\u00a0
exchange
\u00a0
derivative
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
\u00a0
expires
\u00a0
or
\u00a0
is
\u00a0
sold
\u00a0
or
\u00a0
when
\u00a0
a
\u00a0
hedge
\u00a0
no
longer
\u00a0
meets
\u00a0
the
\u00a0
criteria
\u00a0
for
\u00a0
hedge
\u00a0
accounting,
\u00a0
the
\u00a0
cumulative
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
will
\u00a0
remain
\u00a0
in
\u00a0
the
\u00a0
hedge
\u00a0
reserve
\u00a0
and
\u00a0
is
\u00a0
recognized
\u00a0
in
\u00a0
the
\u00a0
income
\u00a0
statement
\u00a0
at
\u00a0
the
same
\u00a0
time
\u00a0
with
\u00a0
the
\u00a0
hedged
\u00a0
sale
\u00a0
or
\u00a0
purchase.
\u00a0
The
\u00a0
cumulative
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
instruments
\u00a0
are
\u00a0
transferred
\u00a0
from
\u00a0
the
\u00a0
hedge
\u00a0
reserve
\u00a0
to
\u00a0
adjust
\u00a0
cost
\u00a0
and
\u00a0
expenses
\u00a0
immediately
\u00a0
if
\u00a0
the
\u00a0
hedged
cash
\u00a0
flow
\u00a0
is
\u00a0
no
\u00a0
longer
\u00a0
expected
\u00a0
to
\u00a0
occur.
\u00a0
The
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
derivatives
\u00a0
that
\u00a0
are
\u00a0
designated
\u00a0
as
\u00a0
hedging
\u00a0
instruments
\u00a0
but
\u00a0
are
\u00a0
not
\u00a0
accounted
\u00a0
for
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
principles
\u00a0
of
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
\u00a0
are
\u00a0
recognized
based
\u00a0
on
\u00a0
their
\u00a0
nature
\u00a0
either
\u00a0
in
\u00a0
the
\u00a0
operative
\u00a0
income
\u00a0
or
\u00a0
costs,
\u00a0
or
\u00a0
as
\u00a0
financial
\u00a0
income
\u00a0
or
\u00a0
expenses:
\u00a0
if
\u00a0
the
\u00a0
hedged
\u00a0
risk
\u00a0
arises
\u00a0
from
\u00a0
an
\u00a0
operative
\u00a0
transaction,
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
instruments
are
\u00a0
recognized
\u00a0
in
\u00a0
costs
\u00a0
and
\u00a0
expenses,
\u00a0
and
\u00a0
if
\u00a0
the
\u00a0
hedged
\u00a0
item
\u00a0
is
\u00a0
a
\u00a0
monetary
\u00a0
item,
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
are
\u00a0
recognized
\u00a0
in
\u00a0
financing
\u00a0
items.
\u00a0
Changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
foreign
\u00a0
exchange
\u00a0
derivatives
\u00a0
are
\u00a0
recognized
\u00a0
in
\u00a0
financing
\u00a0
income
\u00a0
and
\u00a0
expenses
\u00a0
if
\u00a0
the
\u00a0
hedged
\u00a0
item
\u00a0
is
\u00a0
a
\u00a0
loan
\u00a0
receivable,
\u00a0
deposit
\u00a0
or
\u00a0
a
\u00a0
financial
\u00a0
asset
\u00a0
or
\u00a0
liability
denominated
\u00a0
in
\u00a0
a
\u00a0
foreign
\u00a0
currency.
The
\u00a0
effective
\u00a0
portion
\u00a0
of
\u00a0
the
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
currency
\u00a0
forward
\u00a0
contracts
\u00a0
hedging
\u00a0
translation
\u00a0
differences
\u00a0
arising
\u00a0
from
\u00a0
net
\u00a0
investments
\u00a0
in
\u00a0
foreign
\u00a0
subsidiaries,
\u00a0
are
\u00a0
recognized
\u00a0
through
\u00a0
the
statement
\u00a0
of
\u00a0
comprehensive
\u00a0
income
\u00a0
to
\u00a0
the
\u00a0
translation
\u00a0
differences
\u00a0
within
\u00a0
equity
\u00a0
and
\u00a0
would
\u00a0
be
\u00a0
transferred
\u00a0
to
\u00a0
the
\u00a0
income
\u00a0
statement
\u00a0
in
\u00a0
case
\u00a0
the
\u00a0
net
\u00a0
investment
\u00a0
were
\u00a0
disposed
\u00a0
of
\u00a0
partially
\u00a0
or
\u00a0
in
\u00a0
its
entirety.
\u00a0
The
\u00a0
hedged
\u00a0
risk
\u00a0
is
\u00a0
designated
\u00a0
as
\u00a0
movements
\u00a0
in
\u00a0
the
\u00a0
spot
\u00a0
rate
\u00a0
(excluding
\u00a0
changes
\u00a0
due
\u00a0
to
\u00a0
interest
\u00a0
rates
\u00a0
i.e.
\u00a0
forward
\u00a0
points).
\u00a0
Changes
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
due
\u00a0
to
\u00a0
the
\u00a0
forward
points
\u00a0
(cost
\u00a0
of
\u00a0
hedging)
\u00a0
are
\u00a0
immediately
\u00a0
recognized
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
income.
Fair
\u00a0
values
\u00a0
of
\u00a0
derivative
\u00a0
instruments
\u00a0
are
\u00a0
recognized
\u00a0
under
\u00a0
current
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
in
\u00a0
the
\u00a0
balance
\u00a0
sheet.
Loans
Loans
\u00a0
payable
\u00a0
are
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
presented
\u00a0
as
\u00a0
part
\u00a0
of
\u00a0
other
\u00a0
financial
\u00a0
liabilities.
\u00a0
They
\u00a0
are
\u00a0
measured
\u00a0
initially
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
net
\u00a0
of
\u00a0
directly
\u00a0
attributable
\u00a0
transaction
\u00a0
costs
incurred
\u00a0
and
\u00a0
are
\u00a0
subsequently
\u00a0
carried
\u00a0
at
\u00a0
amortized
\u00a0
cost
\u00a0
using
\u00a0
the
\u00a0
effective
\u00a0
interest
\u00a0
rate
\u00a0
method.
\u00a0
Lease
\u00a0
liabilities
\u00a0
are
\u00a0
measured
\u00a0
to
\u00a0
the
\u00a0
present
\u00a0
value
\u00a0
of
\u00a0
future
\u00a0
lease
\u00a0
payments
\u00a0
discounted
\u00a0
with
\u00a0
the
incremental
\u00a0
borrowing
\u00a0
rate.
Financial
\u00a0
assets
Financial
\u00a0
assets
\u00a0
are
\u00a0
classified
\u00a0
into
\u00a0
three
\u00a0
categories:
\u00a0
measured
\u00a0
at
\u00a0
amortized
\u00a0
cost,
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
(FVOCI)
\u00a0
and
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
profit
\u00a0
or
\u00a0
loss.
The
\u00a0
classification
\u00a0
is
\u00a0
made
\u00a0
at
\u00a0
the
\u00a0
time
\u00a0
of
\u00a0
the
\u00a0
original
\u00a0
acquisition
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
objective
\u00a0
of
\u00a0
the
\u00a0
business
\u00a0
model
\u00a0
and
\u00a0
the
\u00a0
characteristics
\u00a0
of
\u00a0
contractual
\u00a0
cash
\u00a0
flows
\u00a0
of
\u00a0
the
\u00a0
investment.
KONE
\u00a0
assesses
\u00a0
on
\u00a0
a
\u00a0
forward-looking
\u00a0
basis
\u00a0
the
\u00a0
expected
\u00a0
credit
\u00a0
losses
\u00a0
associated
\u00a0
with
\u00a0
its
\u00a0
assets
\u00a0
carried
\u00a0
at
\u00a0
amortized
\u00a0
cost.
\u00a0
The
\u00a0
impairment
\u00a0
methodology
\u00a0
applied
\u00a0
depends
\u00a0
on
\u00a0
whether
\u00a0
there
\u00a0
has
been
\u00a0
a
\u00a0
significant
\u00a0
increase
\u00a0
in
\u00a0
credit
\u00a0
risk.
\u00a0
All
\u00a0
of
\u00a0
these
\u00a0
financial
\u00a0
assets
\u00a0
are
\u00a0
considered
\u00a0
to
\u00a0
have
\u00a0
low
\u00a0
credit
\u00a0
risk,
\u00a0
and
\u00a0
thus
\u00a0
the
\u00a0
impairment
\u00a0
provision
\u00a0
assessment
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
12
\u00a0
months
\u00a0
expected
\u00a0
losses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_33": { "value": "
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
\u00a0
include
\u00a0
cash-in-hand
\u00a0
and
\u00a0
bank
\u00a0
account
\u00a0
balances.
\u00a0
Bank
\u00a0
overdrafts
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
other
\u00a0
current
\u00a0
liabilities.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_37": { "value": "
Values
\u00a0
of
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
by
\u00a0
categories
Dec
\u00a0
31,
\u00a0
2022
Notes
Measured
\u00a0
at
fair
\u00a0
value
through
profit
\u00a0
or
\u00a0
loss
Measured
\u00a0
at
amortized
cost
Measured
\u00a0
at
fair
\u00a0
value
through
\u00a0
other
comprehensive
income
Other
Total
\u00a0
book
value
Non-current
\u00a0
assets
Shares
\u00a0
and
\u00a0
other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
5.4
121.7
121.7
Non-current
\u00a0
loans
\u00a0
receivable
I
5.5
2.5
2.5
Employee
\u00a0
benefits
I
5.7
10.0
10.0
Current
\u00a0
assets
Accounts
\u00a0
receivable
2,668.1
2,668.1
Derivative
\u00a0
assets
6.4
20.8
27.2
Current
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable
I
5.5
820.8
654.1
1,474.9
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
I
495.5
495.5
Total
\u00a0
financial
\u00a0
assets
827.2
3,820.2
142.5
10.0
4,799.9
Non-current
\u00a0
liabilities
Loans
\u00a0
\u00b9
\u207e
I
200.0
217.9
417.9
Employee
\u00a0
benefits
I
5.7
140.0
140.0
Current
\u00a0
liabilities
Loans
\u00a0
\u00b2
\u207e
I
106.1
106.1
Current
\u00a0
loans
\u00a0
and
\u00a0
other
\u00a0
liabilities
I
8.6
8.6
Option
\u00a0
liabilities
\u00a0
from
\u00a0
acquisitions
I
1.3
1.3
Accounts
\u00a0
payable
1,132.8
1,132.8
Derivative
\u00a0
liabilities
17.3
15.4
32.7
Unpaid
\u00a0
acquisition
\u00a0
consideration
17.0
17.0
Total
\u00a0
financial
\u00a0
liabilities
18.7
1,341.4
15.4
481.0
1,856.3
\u00b9
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
217.9
\u00a0
million.
\u00b2
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
106.1
\u00a0
million.
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
not
\u00a0
materially
\u00a0
different
\u00a0
from
\u00a0
their
\u00a0
book
\u00a0
values.
Interest-bearing
\u00a0
net
\u00a0
debt
\u00a0
comprises
\u00a0
items
\u00a0
marked
\u00a0
with
\u00a0
\u201c
\u00a0
I
\u00a0
\u201c.
Dec
\u00a0
31,
\u00a0
2021
Notes
Measured
\u00a0
at
fair
\u00a0
value
through
profit
\u00a0
or
\u00a0
loss
Measured
\u00a0
at
amortized
cost
Measured
\u00a0
at
fair
\u00a0
value
through
\u00a0
other
comprehensive
income
Other
Total
\u00a0
book
value
Non-current
\u00a0
assets
Shares
\u00a0
and
\u00a0
other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
I
5.4
144.6
144.6
Non-current
\u00a0
loans
\u00a0
receivable
I
5.5
2.6
2.6
Employee
\u00a0
benefits
I
5.7
22.9
22.9
Current
\u00a0
assets
Accounts
\u00a0
receivable
2,421.4
2,421.4
Derivative
\u00a0
assets
88.4
88.4
Current
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable
I
5.5
1,906.6
488.1
2,394.7
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
I
490.4
490.4
Total
\u00a0
financial
\u00a0
assets
1,995.0
3,402.5
144.6
22.9
5,565.0
Non-current
\u00a0
liabilities
Loans
\u00a0
\u00b9
\u207e
I
200.0
235.4
435.4
Employee
\u00a0
benefits
I
5.7
194.3
194.3
Current
\u00a0
liabilities
Loans
\u00a0
\u00b2
\u207e
I
108.3
108.3
Current
\u00a0
loans
\u00a0
and
\u00a0
other
\u00a0
liabilities
I
3.4
3.4
Option
\u00a0
liabilities
\u00a0
from
\u00a0
acquisitions
I
5.1
5.1
Accounts
\u00a0
payable
1,310.2
1,310.2
Derivative
\u00a0
liabilities
3.8
38.5
42.3
Unpaid
\u00a0
acquisition
\u00a0
consideration
21.2
21.2
Total
\u00a0
financial
\u00a0
liabilities
9.0
1,513.6
38.5
559.2
2,120.3
\u00b9
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
235.4
\u00a0
million.
\u00b2
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
108.3
\u00a0
million.
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
not
\u00a0
materially
\u00a0
different
\u00a0
from
\u00a0
their
\u00a0
book
\u00a0
values.
Interest-bearing
\u00a0
net
\u00a0
debt
\u00a0
comprises
\u00a0
items
\u00a0
marked
\u00a0
with
\u00a0
\u201c
\u00a0
I
\u00a0
\u201c.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_36": { "value": "
Values
\u00a0
of
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
by
\u00a0
categories
Dec
\u00a0
31,
\u00a0
2022
Notes
Measured
\u00a0
at
fair
\u00a0
value
through
profit
\u00a0
or
\u00a0
loss
Measured
\u00a0
at
amortized
cost
Measured
\u00a0
at
fair
\u00a0
value
through
\u00a0
other
comprehensive
income
Other
Total
\u00a0
book
value
Non-current
\u00a0
assets
Shares
\u00a0
and
\u00a0
other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
5.4
121.7
121.7
Non-current
\u00a0
loans
\u00a0
receivable
I
5.5
2.5
2.5
Employee
\u00a0
benefits
I
5.7
10.0
10.0
Current
\u00a0
assets
Accounts
\u00a0
receivable
2,668.1
2,668.1
Derivative
\u00a0
assets
6.4
20.8
27.2
Current
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable
I
5.5
820.8
654.1
1,474.9
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
I
495.5
495.5
Total
\u00a0
financial
\u00a0
assets
827.2
3,820.2
142.5
10.0
4,799.9
Non-current
\u00a0
liabilities
Loans
\u00a0
\u00b9
\u207e
I
200.0
217.9
417.9
Employee
\u00a0
benefits
I
5.7
140.0
140.0
Current
\u00a0
liabilities
Loans
\u00a0
\u00b2
\u207e
I
106.1
106.1
Current
\u00a0
loans
\u00a0
and
\u00a0
other
\u00a0
liabilities
I
8.6
8.6
Option
\u00a0
liabilities
\u00a0
from
\u00a0
acquisitions
I
1.3
1.3
Accounts
\u00a0
payable
1,132.8
1,132.8
Derivative
\u00a0
liabilities
17.3
15.4
32.7
Unpaid
\u00a0
acquisition
\u00a0
consideration
17.0
17.0
Total
\u00a0
financial
\u00a0
liabilities
18.7
1,341.4
15.4
481.0
1,856.3
\u00b9
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
217.9
\u00a0
million.
\u00b2
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
106.1
\u00a0
million.
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
not
\u00a0
materially
\u00a0
different
\u00a0
from
\u00a0
their
\u00a0
book
\u00a0
values.
Interest-bearing
\u00a0
net
\u00a0
debt
\u00a0
comprises
\u00a0
items
\u00a0
marked
\u00a0
with
\u00a0
\u201c
\u00a0
I
\u00a0
\u201c.
Dec
\u00a0
31,
\u00a0
2021
Notes
Measured
\u00a0
at
fair
\u00a0
value
through
profit
\u00a0
or
\u00a0
loss
Measured
\u00a0
at
amortized
cost
Measured
\u00a0
at
fair
\u00a0
value
through
\u00a0
other
comprehensive
income
Other
Total
\u00a0
book
value
Non-current
\u00a0
assets
Shares
\u00a0
and
\u00a0
other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
I
5.4
144.6
144.6
Non-current
\u00a0
loans
\u00a0
receivable
I
5.5
2.6
2.6
Employee
\u00a0
benefits
I
5.7
22.9
22.9
Current
\u00a0
assets
Accounts
\u00a0
receivable
2,421.4
2,421.4
Derivative
\u00a0
assets
88.4
88.4
Current
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable
I
5.5
1,906.6
488.1
2,394.7
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
I
490.4
490.4
Total
\u00a0
financial
\u00a0
assets
1,995.0
3,402.5
144.6
22.9
5,565.0
Non-current
\u00a0
liabilities
Loans
\u00a0
\u00b9
\u207e
I
200.0
235.4
435.4
Employee
\u00a0
benefits
I
5.7
194.3
194.3
Current
\u00a0
liabilities
Loans
\u00a0
\u00b2
\u207e
I
108.3
108.3
Current
\u00a0
loans
\u00a0
and
\u00a0
other
\u00a0
liabilities
I
3.4
3.4
Option
\u00a0
liabilities
\u00a0
from
\u00a0
acquisitions
I
5.1
5.1
Accounts
\u00a0
payable
1,310.2
1,310.2
Derivative
\u00a0
liabilities
3.8
38.5
42.3
Unpaid
\u00a0
acquisition
\u00a0
consideration
21.2
21.2
Total
\u00a0
financial
\u00a0
liabilities
9.0
1,513.6
38.5
559.2
2,120.3
\u00b9
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
235.4
\u00a0
million.
\u00b2
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
108.3
\u00a0
million.
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
not
\u00a0
materially
\u00a0
different
\u00a0
from
\u00a0
their
\u00a0
book
\u00a0
values.
Interest-bearing
\u00a0
net
\u00a0
debt
\u00a0
comprises
\u00a0
items
\u00a0
marked
\u00a0
with
\u00a0
\u201c
\u00a0
I
\u00a0
\u201c.
Fair
\u00a0
values
\u00a0
of
\u00a0
derivative
\u00a0
financial
\u00a0
instruments,
\u00a0
MEUR
Derivative
\u00a0
assets
Dec
\u00a0
31,
\u00a0
2022
Derivative
liabilities,
Dec
\u00a0
31,
\u00a0
2021
Fair
\u00a0
value,
\u00a0
net
Dec
\u00a0
31,
\u00a0
2022
Fair
\u00a0
value,
\u00a0
net
Dec
\u00a0
31,
\u00a0
2021
Foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts
\u00a0
and
\u00a0
swaps
In
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
20.8
-14.6
6.2
5.2
In
\u00a0
net
\u00a0
investment
\u00a0
hedge
\u00a0
accounting
-
-0.8
-0.8
-23.3
Other
\u00a0
hedges
6.4
-17.3
-11.0
64.1
Total
27.2
-32.7
-5.5
46.0
Nominal
\u00a0
values
\u00a0
of
\u00a0
derivative
\u00a0
financial
\u00a0
instruments,
\u00a0
MEUR
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts
\u00a0
and
\u00a0
swaps
In
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
1,009.7
945.6
In
\u00a0
net
\u00a0
investment
\u00a0
hedge
\u00a0
accounting
224.0
429.5
Other
\u00a0
hedges
1,741.2
2,230.2
Total
2,974.8
3,605.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_35": { "value": "
Values
\u00a0
of
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
by
\u00a0
categories
Dec
\u00a0
31,
\u00a0
2022
Notes
Measured
\u00a0
at
fair
\u00a0
value
through
profit
\u00a0
or
\u00a0
loss
Measured
\u00a0
at
amortized
cost
Measured
\u00a0
at
fair
\u00a0
value
through
\u00a0
other
comprehensive
income
Other
Total
\u00a0
book
value
Non-current
\u00a0
assets
Shares
\u00a0
and
\u00a0
other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
5.4
121.7
121.7
Non-current
\u00a0
loans
\u00a0
receivable
I
5.5
2.5
2.5
Employee
\u00a0
benefits
I
5.7
10.0
10.0
Current
\u00a0
assets
Accounts
\u00a0
receivable
2,668.1
2,668.1
Derivative
\u00a0
assets
6.4
20.8
27.2
Current
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable
I
5.5
820.8
654.1
1,474.9
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
I
495.5
495.5
Total
\u00a0
financial
\u00a0
assets
827.2
3,820.2
142.5
10.0
4,799.9
Non-current
\u00a0
liabilities
Loans
\u00a0
\u00b9
\u207e
I
200.0
217.9
417.9
Employee
\u00a0
benefits
I
5.7
140.0
140.0
Current
\u00a0
liabilities
Loans
\u00a0
\u00b2
\u207e
I
106.1
106.1
Current
\u00a0
loans
\u00a0
and
\u00a0
other
\u00a0
liabilities
I
8.6
8.6
Option
\u00a0
liabilities
\u00a0
from
\u00a0
acquisitions
I
1.3
1.3
Accounts
\u00a0
payable
1,132.8
1,132.8
Derivative
\u00a0
liabilities
17.3
15.4
32.7
Unpaid
\u00a0
acquisition
\u00a0
consideration
17.0
17.0
Total
\u00a0
financial
\u00a0
liabilities
18.7
1,341.4
15.4
481.0
1,856.3
\u00b9
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
217.9
\u00a0
million.
\u00b2
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
106.1
\u00a0
million.
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
not
\u00a0
materially
\u00a0
different
\u00a0
from
\u00a0
their
\u00a0
book
\u00a0
values.
Interest-bearing
\u00a0
net
\u00a0
debt
\u00a0
comprises
\u00a0
items
\u00a0
marked
\u00a0
with
\u00a0
\u201c
\u00a0
I
\u00a0
\u201c.
Dec
\u00a0
31,
\u00a0
2021
Notes
Measured
\u00a0
at
fair
\u00a0
value
through
profit
\u00a0
or
\u00a0
loss
Measured
\u00a0
at
amortized
cost
Measured
\u00a0
at
fair
\u00a0
value
through
\u00a0
other
comprehensive
income
Other
Total
\u00a0
book
value
Non-current
\u00a0
assets
Shares
\u00a0
and
\u00a0
other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
I
5.4
144.6
144.6
Non-current
\u00a0
loans
\u00a0
receivable
I
5.5
2.6
2.6
Employee
\u00a0
benefits
I
5.7
22.9
22.9
Current
\u00a0
assets
Accounts
\u00a0
receivable
2,421.4
2,421.4
Derivative
\u00a0
assets
88.4
88.4
Current
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable
I
5.5
1,906.6
488.1
2,394.7
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
I
490.4
490.4
Total
\u00a0
financial
\u00a0
assets
1,995.0
3,402.5
144.6
22.9
5,565.0
Non-current
\u00a0
liabilities
Loans
\u00a0
\u00b9
\u207e
I
200.0
235.4
435.4
Employee
\u00a0
benefits
I
5.7
194.3
194.3
Current
\u00a0
liabilities
Loans
\u00a0
\u00b2
\u207e
I
108.3
108.3
Current
\u00a0
loans
\u00a0
and
\u00a0
other
\u00a0
liabilities
I
3.4
3.4
Option
\u00a0
liabilities
\u00a0
from
\u00a0
acquisitions
I
5.1
5.1
Accounts
\u00a0
payable
1,310.2
1,310.2
Derivative
\u00a0
liabilities
3.8
38.5
42.3
Unpaid
\u00a0
acquisition
\u00a0
consideration
21.2
21.2
Total
\u00a0
financial
\u00a0
liabilities
9.0
1,513.6
38.5
559.2
2,120.3
\u00b9
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
235.4
\u00a0
million.
\u00b2
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
108.3
\u00a0
million.
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
not
\u00a0
materially
\u00a0
different
\u00a0
from
\u00a0
their
\u00a0
book
\u00a0
values.
Interest-bearing
\u00a0
net
\u00a0
debt
\u00a0
comprises
\u00a0
items
\u00a0
marked
\u00a0
with
\u00a0
\u201c
\u00a0
I
\u00a0
\u201c.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_34": { "value": "
Values
\u00a0
of
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
by
\u00a0
categories
Dec
\u00a0
31,
\u00a0
2022
Notes
Measured
\u00a0
at
fair
\u00a0
value
through
profit
\u00a0
or
\u00a0
loss
Measured
\u00a0
at
amortized
cost
Measured
\u00a0
at
fair
\u00a0
value
through
\u00a0
other
comprehensive
income
Other
Total
\u00a0
book
value
Non-current
\u00a0
assets
Shares
\u00a0
and
\u00a0
other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
5.4
121.7
121.7
Non-current
\u00a0
loans
\u00a0
receivable
I
5.5
2.5
2.5
Employee
\u00a0
benefits
I
5.7
10.0
10.0
Current
\u00a0
assets
Accounts
\u00a0
receivable
2,668.1
2,668.1
Derivative
\u00a0
assets
6.4
20.8
27.2
Current
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable
I
5.5
820.8
654.1
1,474.9
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
I
495.5
495.5
Total
\u00a0
financial
\u00a0
assets
827.2
3,820.2
142.5
10.0
4,799.9
Non-current
\u00a0
liabilities
Loans
\u00a0
\u00b9
\u207e
I
200.0
217.9
417.9
Employee
\u00a0
benefits
I
5.7
140.0
140.0
Current
\u00a0
liabilities
Loans
\u00a0
\u00b2
\u207e
I
106.1
106.1
Current
\u00a0
loans
\u00a0
and
\u00a0
other
\u00a0
liabilities
I
8.6
8.6
Option
\u00a0
liabilities
\u00a0
from
\u00a0
acquisitions
I
1.3
1.3
Accounts
\u00a0
payable
1,132.8
1,132.8
Derivative
\u00a0
liabilities
17.3
15.4
32.7
Unpaid
\u00a0
acquisition
\u00a0
consideration
17.0
17.0
Total
\u00a0
financial
\u00a0
liabilities
18.7
1,341.4
15.4
481.0
1,856.3
\u00b9
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
217.9
\u00a0
million.
\u00b2
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
106.1
\u00a0
million.
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
not
\u00a0
materially
\u00a0
different
\u00a0
from
\u00a0
their
\u00a0
book
\u00a0
values.
Interest-bearing
\u00a0
net
\u00a0
debt
\u00a0
comprises
\u00a0
items
\u00a0
marked
\u00a0
with
\u00a0
\u201c
\u00a0
I
\u00a0
\u201c.
Dec
\u00a0
31,
\u00a0
2021
Notes
Measured
\u00a0
at
fair
\u00a0
value
through
profit
\u00a0
or
\u00a0
loss
Measured
\u00a0
at
amortized
cost
Measured
\u00a0
at
fair
\u00a0
value
through
\u00a0
other
comprehensive
income
Other
Total
\u00a0
book
value
Non-current
\u00a0
assets
Shares
\u00a0
and
\u00a0
other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
I
5.4
144.6
144.6
Non-current
\u00a0
loans
\u00a0
receivable
I
5.5
2.6
2.6
Employee
\u00a0
benefits
I
5.7
22.9
22.9
Current
\u00a0
assets
Accounts
\u00a0
receivable
2,421.4
2,421.4
Derivative
\u00a0
assets
88.4
88.4
Current
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable
I
5.5
1,906.6
488.1
2,394.7
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
I
490.4
490.4
Total
\u00a0
financial
\u00a0
assets
1,995.0
3,402.5
144.6
22.9
5,565.0
Non-current
\u00a0
liabilities
Loans
\u00a0
\u00b9
\u207e
I
200.0
235.4
435.4
Employee
\u00a0
benefits
I
5.7
194.3
194.3
Current
\u00a0
liabilities
Loans
\u00a0
\u00b2
\u207e
I
108.3
108.3
Current
\u00a0
loans
\u00a0
and
\u00a0
other
\u00a0
liabilities
I
3.4
3.4
Option
\u00a0
liabilities
\u00a0
from
\u00a0
acquisitions
I
5.1
5.1
Accounts
\u00a0
payable
1,310.2
1,310.2
Derivative
\u00a0
liabilities
3.8
38.5
42.3
Unpaid
\u00a0
acquisition
\u00a0
consideration
21.2
21.2
Total
\u00a0
financial
\u00a0
liabilities
9.0
1,513.6
38.5
559.2
2,120.3
\u00b9
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
235.4
\u00a0
million.
\u00b2
\u207e
\u00a0
Includes
\u00a0
lease
\u00a0
liabilities
\u00a0
of
\u00a0
EUR
\u00a0
108.3
\u00a0
million.
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
not
\u00a0
materially
\u00a0
different
\u00a0
from
\u00a0
their
\u00a0
book
\u00a0
values.
Interest-bearing
\u00a0
net
\u00a0
debt
\u00a0
comprises
\u00a0
items
\u00a0
marked
\u00a0
with
\u00a0
\u201c
\u00a0
I
\u00a0
\u201c.
5.3
\u00a0
FINANCIAL
\u00a0
RISKS
\u00a0
AND
\u00a0
INSTRUMENTS
KONE\u2019s
\u00a0
business
\u00a0
activities
\u00a0
are
\u00a0
exposed
\u00a0
to
\u00a0
financial
\u00a0
risks
\u00a0
such
\u00a0
as
\u00a0
foreign
\u00a0
exchange
\u00a0
risks,
\u00a0
interest
\u00a0
rate
\u00a0
risks,
\u00a0
liquidity
\u00a0
risks
\u00a0
and
\u00a0
credit
\u00a0
risks.
\u00a0
These
\u00a0
financial
\u00a0
risks
\u00a0
are
\u00a0
managed
\u00a0
as
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
total
KONE
\u00a0
risk
\u00a0
portfolio.
\u00a0
KONE
\u00a0
Treasury
\u00a0
is
\u00a0
responsible
\u00a0
for
\u00a0
the
\u00a0
centralized
\u00a0
management
\u00a0
of
\u00a0
financial
\u00a0
risks
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
KONE
\u00a0
Treasury
\u00a0
Policy
\u00a0
approved
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors.
\u00a0
KONE
business
\u00a0
units
\u00a0
manage
\u00a0
their
\u00a0
financial
\u00a0
risks
\u00a0
locally
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
KONE
\u00a0
Treasury
\u00a0
Policy.
Financial
\u00a0
credit
\u00a0
risk
KONE
\u00a0
has
\u00a0
substantial
\u00a0
amounts
\u00a0
of
\u00a0
cash
\u00a0
and
\u00a0
financial
\u00a0
investments.
\u00a0
In
\u00a0
order
\u00a0
to
\u00a0
diversify
\u00a0
the
\u00a0
financial
\u00a0
credit
\u00a0
risk
\u00a0
and
\u00a0
manage
\u00a0
liquidity
\u00a0
risk,
\u00a0
funds
\u00a0
are
\u00a0
invested
\u00a0
into
\u00a0
highly
\u00a0
liquid
\u00a0
interest
\u00a0
rate
\u00a0
funds
\u00a0
and
deposits
\u00a0
with
\u00a0
several
\u00a0
banks.
\u00a0
Global
\u00a0
counterparty
\u00a0
limits
\u00a0
are
\u00a0
approved
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors.
\u00a0
All
\u00a0
open
\u00a0
exposures
\u00a0
such
\u00a0
as
\u00a0
cash
\u00a0
on
\u00a0
bank
\u00a0
accounts,
\u00a0
investments,
\u00a0
deposits
\u00a0
and
\u00a0
other
\u00a0
financial
\u00a0
assets,
for
\u00a0
example
\u00a0
derivatives
\u00a0
contracts,
\u00a0
are
\u00a0
included
\u00a0
when
\u00a0
measuring
\u00a0
the
\u00a0
financial
\u00a0
credit
\u00a0
risk
\u00a0
exposure.
\u00a0
When
\u00a0
selecting
\u00a0
counterparty
\u00a0
banks
\u00a0
and
\u00a0
other
\u00a0
investment
\u00a0
targets,
\u00a0
only
\u00a0
counterparties
\u00a0
with
\u00a0
high
creditworthiness
\u00a0
are
\u00a0
approved.
\u00a0
The
\u00a0
size
\u00a0
of
\u00a0
each
\u00a0
limit
\u00a0
reflects
\u00a0
the
\u00a0
creditworthiness
\u00a0
of
\u00a0
the
\u00a0
counterparty.
\u00a0
Counterparty
\u00a0
creditworthiness
\u00a0
is
\u00a0
evaluated
\u00a0
constantly
\u00a0
and
\u00a0
the
\u00a0
required
\u00a0
actions
\u00a0
are
\u00a0
considered
case
\u00a0
by
\u00a0
case
\u00a0
if
\u00a0
significant
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
creditworthiness
\u00a0
of
\u00a0
a
\u00a0
counterparty
\u00a0
occur.
\u00a0
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
interest
\u00a0
rate
\u00a0
funds
\u00a0
are
\u00a0
measured
\u00a0
based
\u00a0
on
\u00a0
market
\u00a0
information
\u00a0
(fair
\u00a0
value
\u00a0
hierarchy
\u00a0
level
\u00a0
2).
\u00a0
Refinancing
\u00a0
and
\u00a0
liquidity
\u00a0
risks
KONE\u2019s
\u00a0
cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
\u00a0
was
\u00a0
EUR
\u00a0
495.5
\u00a0
(490.4)
\u00a0
million
\u00a0
and
\u00a0
financial
\u00a0
investments
\u00a0
EUR
\u00a0
1,470.1
\u00a0
(2,393.7)
\u00a0
million
\u00a0
on
\u00a0
December
\u00a0
31,
\u00a0
2022.
Cash
\u00a0
and
\u00a0
financial
\u00a0
investments
\u00a0
are
\u00a0
managed
\u00a0
centrally
\u00a0
by
\u00a0
KONE
\u00a0
Treasury.
\u00a0
Due
\u00a0
to
\u00a0
local
\u00a0
regulations,
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
funds
\u00a0
reside
\u00a0
in
\u00a0
local
\u00a0
investments
\u00a0
and
\u00a0
on
\u00a0
decentralized
\u00a0
bank
\u00a0
accounts
\u00a0
in
\u00a0
a
\u00a0
number
of
\u00a0
KONE
\u00a0
countries.
\u00a0
A
\u00a0
substantial
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
funds
\u00a0
is
\u00a0
nevertheless
\u00a0
accessible
\u00a0
to
\u00a0
KONE
\u00a0
Treasury.
\u00a0
Changes
\u00a0
in
\u00a0
the
\u00a0
local
\u00a0
regulations
\u00a0
can
\u00a0
also
\u00a0
in
\u00a0
the
\u00a0
future
\u00a0
have
\u00a0
an
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
location
\u00a0
of
\u00a0
the
\u00a0
cash
and
\u00a0
financial
\u00a0
investments.
KONE
\u00a0
has
\u00a0
a
\u00a0
credit
\u00a0
facility
\u00a0
of
\u00a0
EUR
\u00a0
200
\u00a0
(0)
\u00a0
million
\u00a0
and
\u00a0
a
\u00a0
loan
\u00a0
of
\u00a0
EUR
\u00a0
200
\u00a0
(200)
\u00a0
million
\u00a0
from
\u00a0
the
\u00a0
European
\u00a0
Investment
\u00a0
Bank
\u00a0
(EIB)
\u00a0
for
\u00a0
R&D
\u00a0
purposes.
\u00a0
The
\u00a0
fixed
\u00a0
interest
\u00a0
rate
\u00a0
loan
\u00a0
will
\u00a0
mature
\u00a0
in
2026.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
loan
\u00a0
is
\u00a0
estimated
\u00a0
based
\u00a0
on
\u00a0
discounted
\u00a0
cash
\u00a0
flow
\u00a0
method
\u00a0
using
\u00a0
a
\u00a0
current
\u00a0
borrowing
\u00a0
rate
\u00a0
(level
\u00a0
2
\u00a0
fair
\u00a0
value
\u00a0
hierarchy)
\u00a0
as
\u00a0
the
\u00a0
discount
\u00a0
rate.
\u00a0
KONE
\u00a0
has
\u00a0
also
\u00a0
an
\u00a0
uncommitted
commercial
\u00a0
paper
\u00a0
program
\u00a0
of
\u00a0
EUR
\u00a0
500
\u00a0
(500)
\u00a0
million
\u00a0
and
\u00a0
a
\u00a0
sustainability-linked
\u00a0
revolving
\u00a0
credit
\u00a0
facility
\u00a0
of
\u00a0
EUR
\u00a0
850
\u00a0
(850)
\u00a0
million
\u00a0
to
\u00a0
ensure
\u00a0
sufficient
\u00a0
liquidity.
\u00a0
The
\u00a0
sustainability
\u00a0
targets
\u00a0
included
\u00a0
in
\u00a0
the
facility
\u00a0
relate
\u00a0
to
\u00a0
KONE\u2019s
\u00a0
decarbonization
\u00a0
and
\u00a0
gender
\u00a0
diversity
\u00a0
commitments.
Interest
\u00a0
rate
\u00a0
risks
KONE\u2019s
\u00a0
cash
\u00a0
and
\u00a0
short
\u00a0
-term
\u00a0
investments
\u00a0
were
\u00a0
EUR
\u00a0
1,965.6
\u00a0
(2,884.1)
\u00a0
million
\u00a0
at
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
date.
\u00a0
At
\u00a0
the
\u00a0
same
\u00a0
time,
\u00a0
KONE\u2019s
\u00a0
interest-bearing
\u00a0
debt
\u00a0
was
\u00a0
EUR
\u00a0
673.9
\u00a0
(746.5)
million
\u00a0
and
\u00a0
consisted
\u00a0
of
\u00a0
EUR
\u00a0
532.6
\u00a0
(547.1)
\u00a0
million
\u00a0
of
\u00a0
financial
\u00a0
debt
\u00a0
including
\u00a0
lease
\u00a0
liabilities,
\u00a0
EUR
\u00a0
1.3
\u00a0
(5.1)
\u00a0
million
\u00a0
of
\u00a0
option
\u00a0
liabilities
\u00a0
from
\u00a0
acquisitions,
\u00a0
and
\u00a0
EUR
\u00a0
140.0
\u00a0
(194.3)
\u00a0
million
\u00a0
of
\u00a0
employee
benefit
\u00a0
liabilities.
\u00a0
Additionally,
\u00a0
KONE
\u00a0
had
\u00a0
an
\u00a0
asset
\u00a0
on
\u00a0
employee
\u00a0
benefits
\u00a0
of
\u00a0
EUR
\u00a0
10.0
\u00a0
(22.9)
\u00a0
million.
As
\u00a0
KONE\u2019s
\u00a0
financial
\u00a0
investments
\u00a0
are
\u00a0
mainly
\u00a0
invested
\u00a0
in
\u00a0
tenors
\u00a0
of
\u00a0
less
\u00a0
than
\u00a0
one
\u00a0
year,
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
interest
\u00a0
rates
\u00a0
do
\u00a0
not
\u00a0
have
\u00a0
any
\u00a0
significant
\u00a0
impact
\u00a0
on
\u00a0
their
\u00a0
market
\u00a0
values.
\u00a0
Changes
\u00a0
in
\u00a0
the
\u00a0
interest
\u00a0
rates
\u00a0
may
\u00a0
however
\u00a0
impact
\u00a0
future
\u00a0
interest
\u00a0
income.
When
\u00a0
calculating
\u00a0
the
\u00a0
interest
\u00a0
rate
\u00a0
sensitivity
\u00a0
analysis,
\u00a0
the
\u00a0
interest
\u00a0
-bearing
\u00a0
net
\u00a0
financial
\u00a0
debt,
\u00a0
excluding
\u00a0
foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts,
\u00a0
is
\u00a0
assumed
\u00a0
to
\u00a0
remain
\u00a0
on
\u00a0
the
\u00a0
level
\u00a0
of
\u00a0
the
\u00a0
closing
balance
\u00a0
of
\u00a0
2022
\u00a0
during
\u00a0
the
\u00a0
following
\u00a0
financial
\u00a0
period.
\u00a0
The
\u00a0
sensitivity
\u00a0
analysis
\u00a0
presents
\u00a0
the
\u00a0
impact
\u00a0
of
\u00a0
a
\u00a0
1
\u00a0
percentage
\u00a0
point
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
interest
\u00a0
rate
\u00a0
level
\u00a0
on
\u00a0
the
\u00a0
net
\u00a0
interest
\u00a0
income
\u00a0
for
\u00a0
the
\u00a0
financial
period
\u00a0
by
\u00a0
taking
\u00a0
into
\u00a0
account
\u00a0
the
\u00a0
net
\u00a0
financial
\u00a0
debt
\u00a0
tied
\u00a0
to
\u00a0
interest
\u00a0
periods
\u00a0
of
\u00a0
less
\u00a0
than
\u00a0
one
\u00a0
year,
\u00a0
EUR
\u00a0
-1,854.5
\u00a0
(-2,768.5)
\u00a0
million.
\u00a0
For
\u00a0
2022
\u00a0
a
\u00a0
1
\u00a0
percentage
\u00a0
point
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
interest
\u00a0
rate
\u00a0
level
would
\u00a0
mean
\u00a0
a
\u00a0
change
\u00a0
of
\u00a0
EUR
\u00a0
-18.5
\u00a0
(-27.7)
\u00a0
million
\u00a0
in
\u00a0
net
\u00a0
interest
\u00a0
income.
\u00a0
The
\u00a0
interest
\u00a0
rate
\u00a0
sensitivity
\u00a0
is
\u00a0
calculated
\u00a0
before
\u00a0
taxes.
A
\u00a0
change
\u00a0
in
\u00a0
interest
\u00a0
rates
\u00a0
does
\u00a0
not
\u00a0
have
\u00a0
a
\u00a0
material
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
net
\u00a0
interest
\u00a0
on
\u00a0
employee
\u00a0
benefits,
\u00a0
on
\u00a0
financial
\u00a0
debt
\u00a0
or
\u00a0
option
\u00a0
liabilities
\u00a0
from
\u00a0
acquisition.
Derivatives
Treasury
\u00a0
policy
\u00a0
for
\u00a0
hedging
\u00a0
purposes
\u00a0
is
\u00a0
applied
\u00a0
to
\u00a0
all
\u00a0
derivative
\u00a0
contracts.
The
\u00a0
majority
\u00a0
of
\u00a0
the
\u00a0
foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts
\u00a0
and
\u00a0
swaps
\u00a0
mature
\u00a0
within
\u00a0
a
\u00a0
year.
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts
\u00a0
and
\u00a0
swaps
\u00a0
are
\u00a0
measured
\u00a0
based
\u00a0
on
\u00a0
price
\u00a0
information
\u00a0
derived
\u00a0
from
\u00a0
active
\u00a0
markets
\u00a0
and
\u00a0
commonly
\u00a0
used
\u00a0
valuation
\u00a0
methods
\u00a0
(fair
\u00a0
value
hierarchy
\u00a0
level
\u00a0
2).
\u00a0
Financial
\u00a0
contracts
\u00a0
are
\u00a0
executed
\u00a0
only
\u00a0
with
\u00a0
counterparties
\u00a0
that
\u00a0
have
\u00a0
high
\u00a0
credit
\u00a0
ratings.
\u00a0
The
\u00a0
credit
\u00a0
risk
\u00a0
of
\u00a0
the
\u00a0
counterparties
\u00a0
and
\u00a0
KONE
\u00a0
is
\u00a0
considered
\u00a0
when
\u00a0
assessing
\u00a0
the
\u00a0
fair
values
\u00a0
of
\u00a0
outstanding
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities.
\u00a0
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
derivatives
\u00a0
are
\u00a0
represented
\u00a0
in
\u00a0
the
\u00a0
balance
\u00a0
on
\u00a0
a
\u00a0
gross
\u00a0
basis
\u00a0
and
\u00a0
can
\u00a0
be
\u00a0
set
\u00a0
off
\u00a0
on
\u00a0
conditional
\u00a0
terms
\u00a0
such
\u00a0
as
\u00a0
breach
\u00a0
of
\u00a0
contract
\u00a0
or
\u00a0
bankruptcy.
\u00a0
Derivative
\u00a0
financial
receivables
\u00a0
from
\u00a0
counterparties
\u00a0
after
\u00a0
set
\u00a0
off
\u00a0
would
\u00a0
be
\u00a0
EUR
\u00a0
4.0
\u00a0
(49.9)
\u00a0
million
\u00a0
and
\u00a0
payables
\u00a0
EUR
\u00a0
9.4
\u00a0
(3.9)
\u00a0
million.
Accounting
\u00a0
principles
Derivative
\u00a0
financial
\u00a0
instruments
\u00a0
and
\u00a0
hedge
\u00a0
accounting
Derivative
\u00a0
financial
\u00a0
instruments
\u00a0
are
\u00a0
initially
\u00a0
and
\u00a0
subsequently
\u00a0
recognized
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position.
\u00a0
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts
\u00a0
are
\u00a0
calculated
\u00a0
by
discounting
\u00a0
the
\u00a0
future
\u00a0
cash
\u00a0
flows
\u00a0
of
\u00a0
the
\u00a0
contracts
\u00a0
with
\u00a0
the
\u00a0
relevant
\u00a0
market
\u00a0
interest
\u00a0
rate
\u00a0
yield
\u00a0
curves
\u00a0
on
\u00a0
the
\u00a0
valuation
\u00a0
date
\u00a0
and
\u00a0
by
\u00a0
calculating
\u00a0
the
\u00a0
difference
\u00a0
between
\u00a0
the
\u00a0
discounted
\u00a0
values
\u00a0
as
\u00a0
at
\u00a0
the
forward
\u00a0
contract
\u00a0
date
\u00a0
and
\u00a0
balance
\u00a0
sheet
\u00a0
date
\u00a0
in
\u00a0
euros.
\u00a0
At
\u00a0
the
\u00a0
contract
\u00a0
date
\u00a0
the
\u00a0
derivatives
\u00a0
are
\u00a0
classified
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
foreign
\u00a0
exchange
\u00a0
policy
\u00a0
as
\u00a0
hedging
\u00a0
instruments
\u00a0
of
\u00a0
a
\u00a0
business
\u00a0
transaction
\u00a0
arising
\u00a0
from
\u00a0
a
\u00a0
firm
\u00a0
or
\u00a0
highly
\u00a0
probable
\u00a0
purchase
\u00a0
or
sales
\u00a0
contract.
\u00a0
These
\u00a0
are
\u00a0
partly
\u00a0
included
\u00a0
in
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting,
\u00a0
hedges
\u00a0
against
\u00a0
fair
\u00a0
value
\u00a0
changes
\u00a0
of
\u00a0
assets
\u00a0
or
\u00a0
liabilities
\u00a0
or
\u00a0
hedges
\u00a0
of
\u00a0
net
\u00a0
investments
\u00a0
in
\u00a0
foreign
\u00a0
entities.
In
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
\u00a0
KONE
\u00a0
uses
\u00a0
foreign
\u00a0
currency
\u00a0
forward
\u00a0
contracts
\u00a0
to
\u00a0
hedge
\u00a0
its
\u00a0
exposure
\u00a0
in
\u00a0
foreign
\u00a0
currency
\u00a0
dominated
\u00a0
cash
\u00a0
flows
\u00a0
which
\u00a0
ensures
\u00a0
economic
\u00a0
relationship
\u00a0
between
\u00a0
the
hedged
\u00a0
item
\u00a0
and
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
and
\u00a0
full
\u00a0
effectiveness
\u00a0
as
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
and
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
hedged
\u00a0
item
\u00a0
move
\u00a0
in
\u00a0
the
\u00a0
opposite
\u00a0
direction
\u00a0
because
\u00a0
of
\u00a0
the
\u00a0
common
underlying
\u00a0
denominator.
\u00a0
The
\u00a0
full
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
derivatives,
\u00a0
including
\u00a0
transaction
\u00a0
related
\u00a0
forward
\u00a0
points,
\u00a0
is
\u00a0
designated
\u00a0
in
\u00a0
the
\u00a0
hedging
\u00a0
relationship.
The
\u00a0
effective
\u00a0
portion
\u00a0
of
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
foreign
\u00a0
exchange
\u00a0
derivatives
\u00a0
initiated
\u00a0
for
\u00a0
hedging
\u00a0
firm
\u00a0
or
\u00a0
highly
\u00a0
probable
\u00a0
future
\u00a0
purchase
\u00a0
or
\u00a0
sales
\u00a0
transactions
\u00a0
is
\u00a0
recognized
\u00a0
through
\u00a0
the
statement
\u00a0
of
\u00a0
comprehensive
\u00a0
income
\u00a0
to
\u00a0
the
\u00a0
hedge
\u00a0
reserve
\u00a0
within
\u00a0
equity.
\u00a0
The
\u00a0
cumulative
\u00a0
changes
\u00a0
of
\u00a0
fair
\u00a0
values
\u00a0
are
\u00a0
transferred
\u00a0
into
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
adjustment
\u00a0
items
\u00a0
to
\u00a0
costs
\u00a0
and
expenses
\u00a0
simultaneously
\u00a0
when
\u00a0
the
\u00a0
hedged
\u00a0
sale
\u00a0
or
\u00a0
purchase
\u00a0
realizes.
\u00a0
When
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
\u00a0
is
\u00a0
applied,
\u00a0
at
\u00a0
the
\u00a0
inception
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
transaction
\u00a0
the
\u00a0
economic
\u00a0
relationship
\u00a0
between
hedging
\u00a0
instruments
\u00a0
and
\u00a0
hedged
\u00a0
items
\u00a0
is
\u00a0
documented
\u00a0
including
\u00a0
whether
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
offset
\u00a0
changes
\u00a0
in
\u00a0
cash
\u00a0
flows
\u00a0
of
\u00a0
hedged
\u00a0
items.
\u00a0
Also,
\u00a0
the
\u00a0
risk
\u00a0
management
\u00a0
objective
and
\u00a0
strategy
\u00a0
for
\u00a0
undertaking
\u00a0
various
\u00a0
hedge
\u00a0
transactions
\u00a0
is
\u00a0
documented
\u00a0
at
\u00a0
the
\u00a0
inception
\u00a0
of
\u00a0
each
\u00a0
hedge
\u00a0
relationship.
\u00a0
Hedge
\u00a0
effe
\u00a0
ctiveness
\u00a0
is
\u00a0
assessed
\u00a0
before
\u00a0
hedge
\u00a0
accounting
\u00a0
is
\u00a0
applied
\u00a0
and
\u00a0
at
\u00a0
least
on
\u00a0
a
\u00a0
quarterly
\u00a0
basis
\u00a0
thereafter.
The
\u00a0
gain
\u00a0
or
\u00a0
loss
\u00a0
relating
\u00a0
to
\u00a0
the
\u00a0
ineffective
\u00a0
portion
\u00a0
is
\u00a0
recognized
\u00a0
immediately
\u00a0
as
\u00a0
an
\u00a0
adjustment
\u00a0
to
\u00a0
cost
\u00a0
and
\u00a0
expenses.
\u00a0
In
\u00a0
hedges
\u00a0
of
\u00a0
foreign
\u00a0
currency
\u00a0
transaction,
\u00a0
ineffectiveness
\u00a0
may
\u00a0
arise
\u00a0
if
\u00a0
the
timing
\u00a0
of
\u00a0
the
\u00a0
forecast
\u00a0
transaction
\u00a0
changes
\u00a0
from
\u00a0
what
\u00a0
was
\u00a0
originally
\u00a0
estimated.
\u00a0
If
\u00a0
a
\u00a0
foreign
\u00a0
exchange
\u00a0
derivative
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
\u00a0
expires
\u00a0
or
\u00a0
is
\u00a0
sold
\u00a0
or
\u00a0
when
\u00a0
a
\u00a0
hedge
\u00a0
no
longer
\u00a0
meets
\u00a0
the
\u00a0
criteria
\u00a0
for
\u00a0
hedge
\u00a0
accounting,
\u00a0
the
\u00a0
cumulative
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
will
\u00a0
remain
\u00a0
in
\u00a0
the
\u00a0
hedge
\u00a0
reserve
\u00a0
and
\u00a0
is
\u00a0
recognized
\u00a0
in
\u00a0
the
\u00a0
income
\u00a0
statement
\u00a0
at
\u00a0
the
same
\u00a0
time
\u00a0
with
\u00a0
the
\u00a0
hedged
\u00a0
sale
\u00a0
or
\u00a0
purchase.
\u00a0
The
\u00a0
cumulative
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
instruments
\u00a0
are
\u00a0
transferred
\u00a0
from
\u00a0
the
\u00a0
hedge
\u00a0
reserve
\u00a0
to
\u00a0
adjust
\u00a0
cost
\u00a0
and
\u00a0
expenses
\u00a0
immediately
\u00a0
if
\u00a0
the
\u00a0
hedged
cash
\u00a0
flow
\u00a0
is
\u00a0
no
\u00a0
longer
\u00a0
expected
\u00a0
to
\u00a0
occur.
\u00a0
The
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
derivatives
\u00a0
that
\u00a0
are
\u00a0
designated
\u00a0
as
\u00a0
hedging
\u00a0
instruments
\u00a0
but
\u00a0
are
\u00a0
not
\u00a0
accounted
\u00a0
for
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
principles
\u00a0
of
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
\u00a0
are
\u00a0
recognized
based
\u00a0
on
\u00a0
their
\u00a0
nature
\u00a0
either
\u00a0
in
\u00a0
the
\u00a0
operative
\u00a0
income
\u00a0
or
\u00a0
costs,
\u00a0
or
\u00a0
as
\u00a0
financial
\u00a0
income
\u00a0
or
\u00a0
expenses:
\u00a0
if
\u00a0
the
\u00a0
hedged
\u00a0
risk
\u00a0
arises
\u00a0
from
\u00a0
an
\u00a0
operative
\u00a0
transaction,
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
instruments
are
\u00a0
recognized
\u00a0
in
\u00a0
costs
\u00a0
and
\u00a0
expenses,
\u00a0
and
\u00a0
if
\u00a0
the
\u00a0
hedged
\u00a0
item
\u00a0
is
\u00a0
a
\u00a0
monetary
\u00a0
item,
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
are
\u00a0
recognized
\u00a0
in
\u00a0
financing
\u00a0
items.
\u00a0
Changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
foreign
\u00a0
exchange
\u00a0
derivatives
\u00a0
are
\u00a0
recognized
\u00a0
in
\u00a0
financing
\u00a0
income
\u00a0
and
\u00a0
expenses
\u00a0
if
\u00a0
the
\u00a0
hedged
\u00a0
item
\u00a0
is
\u00a0
a
\u00a0
loan
\u00a0
receivable,
\u00a0
deposit
\u00a0
or
\u00a0
a
\u00a0
financial
\u00a0
asset
\u00a0
or
\u00a0
liability
denominated
\u00a0
in
\u00a0
a
\u00a0
foreign
\u00a0
currency.
The
\u00a0
effective
\u00a0
portion
\u00a0
of
\u00a0
the
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
currency
\u00a0
forward
\u00a0
contracts
\u00a0
hedging
\u00a0
translation
\u00a0
differences
\u00a0
arising
\u00a0
from
\u00a0
net
\u00a0
investments
\u00a0
in
\u00a0
foreign
\u00a0
subsidiaries,
\u00a0
are
\u00a0
recognized
\u00a0
through
\u00a0
the
statement
\u00a0
of
\u00a0
comprehensive
\u00a0
income
\u00a0
to
\u00a0
the
\u00a0
translation
\u00a0
differences
\u00a0
within
\u00a0
equity
\u00a0
and
\u00a0
would
\u00a0
be
\u00a0
transferred
\u00a0
to
\u00a0
the
\u00a0
income
\u00a0
statement
\u00a0
in
\u00a0
case
\u00a0
the
\u00a0
net
\u00a0
investment
\u00a0
were
\u00a0
disposed
\u00a0
of
\u00a0
partially
\u00a0
or
\u00a0
in
\u00a0
its
entirety.
\u00a0
The
\u00a0
hedged
\u00a0
risk
\u00a0
is
\u00a0
designated
\u00a0
as
\u00a0
movements
\u00a0
in
\u00a0
the
\u00a0
spot
\u00a0
rate
\u00a0
(excluding
\u00a0
changes
\u00a0
due
\u00a0
to
\u00a0
interest
\u00a0
rates
\u00a0
i.e.
\u00a0
forward
\u00a0
points).
\u00a0
Changes
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
due
\u00a0
to
\u00a0
the
\u00a0
forward
points
\u00a0
(cost
\u00a0
of
\u00a0
hedging)
\u00a0
are
\u00a0
immediately
\u00a0
recognized
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
income.
Fair
\u00a0
values
\u00a0
of
\u00a0
derivative
\u00a0
instruments
\u00a0
are
\u00a0
recognized
\u00a0
under
\u00a0
current
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
in
\u00a0
the
\u00a0
balance
\u00a0
sheet.
Loans
Loans
\u00a0
payable
\u00a0
are
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
presented
\u00a0
as
\u00a0
part
\u00a0
of
\u00a0
other
\u00a0
financial
\u00a0
liabilities.
\u00a0
They
\u00a0
are
\u00a0
measured
\u00a0
initially
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
net
\u00a0
of
\u00a0
directly
\u00a0
attributable
\u00a0
transaction
\u00a0
costs
incurred
\u00a0
and
\u00a0
are
\u00a0
subsequently
\u00a0
carried
\u00a0
at
\u00a0
amortized
\u00a0
cost
\u00a0
using
\u00a0
the
\u00a0
effective
\u00a0
interest
\u00a0
rate
\u00a0
method.
\u00a0
Lease
\u00a0
liabilities
\u00a0
are
\u00a0
measured
\u00a0
to
\u00a0
the
\u00a0
present
\u00a0
value
\u00a0
of
\u00a0
future
\u00a0
lease
\u00a0
payments
\u00a0
discounted
\u00a0
with
\u00a0
the
incremental
\u00a0
borrowing
\u00a0
rate.
Financial
\u00a0
assets
Financial
\u00a0
assets
\u00a0
are
\u00a0
classified
\u00a0
into
\u00a0
three
\u00a0
categories:
\u00a0
measured
\u00a0
at
\u00a0
amortized
\u00a0
cost,
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
(FVOCI)
\u00a0
and
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
profit
\u00a0
or
\u00a0
loss.
The
\u00a0
classification
\u00a0
is
\u00a0
made
\u00a0
at
\u00a0
the
\u00a0
time
\u00a0
of
\u00a0
the
\u00a0
original
\u00a0
acquisition
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
objective
\u00a0
of
\u00a0
the
\u00a0
business
\u00a0
model
\u00a0
and
\u00a0
the
\u00a0
characteristics
\u00a0
of
\u00a0
contractual
\u00a0
cash
\u00a0
flows
\u00a0
of
\u00a0
the
\u00a0
investment.
KONE
\u00a0
assesses
\u00a0
on
\u00a0
a
\u00a0
forward-looking
\u00a0
basis
\u00a0
the
\u00a0
expected
\u00a0
credit
\u00a0
losses
\u00a0
associated
\u00a0
with
\u00a0
its
\u00a0
assets
\u00a0
carried
\u00a0
at
\u00a0
amortized
\u00a0
cost.
\u00a0
The
\u00a0
impairment
\u00a0
methodology
\u00a0
applied
\u00a0
depends
\u00a0
on
\u00a0
whether
\u00a0
there
\u00a0
has
been
\u00a0
a
\u00a0
significant
\u00a0
increase
\u00a0
in
\u00a0
credit
\u00a0
risk.
\u00a0
All
\u00a0
of
\u00a0
these
\u00a0
financial
\u00a0
assets
\u00a0
are
\u00a0
considered
\u00a0
to
\u00a0
have
\u00a0
low
\u00a0
credit
\u00a0
risk,
\u00a0
and
\u00a0
thus
\u00a0
the
\u00a0
impairment
\u00a0
provision
\u00a0
assessment
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
12
\u00a0
months
\u00a0
expected
\u00a0
losses.
Current
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable
Current
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable
\u00a0
are
\u00a0
initially
\u00a0
recognized
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
thereafter
\u00a0
at
\u00a0
amortized
\u00a0
cost
\u00a0
using
\u00a0
the
\u00a0
effec
\u00a0
tive
\u00a0
interest
\u00a0
rate
\u00a0
method
\u00a0
except
\u00a0
for
\u00a0
interest
\u00a0
rate
\u00a0
funds
\u00a0
which
\u00a0
are
\u00a0
classified
and
\u00a0
measured
\u00a0
as
\u00a0
investments
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
profit
\u00a0
or
\u00a0
loss.
\u00a0
Only
\u00a0
substantial
\u00a0
transaction
\u00a0
costs
\u00a0
are
\u00a0
considered
\u00a0
for
\u00a0
when
\u00a0
measuring
\u00a0
the
\u00a0
acquisition
\u00a0
cost.
Investments
\u00a0
in
\u00a0
commercial
\u00a0
papers,
\u00a0
short-term
\u00a0
bank
\u00a0
deposits,
\u00a0
interest
\u00a0
rate
\u00a0
funds
\u00a0
and
\u00a0
other
\u00a0
money
\u00a0
market
\u00a0
instruments
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable.
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
\u00a0
include
\u00a0
cash-in-hand
\u00a0
and
\u00a0
bank
\u00a0
account
\u00a0
balances.
\u00a0
Bank
\u00a0
overdrafts
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
other
\u00a0
current
\u00a0
liabilities.
Maturity
\u00a0
analysis
\u00a0
of
\u00a0
financial
\u00a0
liabilities
\u00a0
and
\u00a0
interest
\u00a0
payments
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
MEUR
<
\u00a0
1
\u00a0
year
1-5
\u00a0
years
>
\u00a0
5
\u00a0
years
Total
<
\u00a0
1
\u00a0
year
1-5
\u00a0
years
>
\u00a0
5
\u00a0
years
Total
Interest-bearing
\u00a0
debt
Non-current
\u00a0
loans
-
-200.0
-
-200.0
-
-200.0
-
-200.0
Lease
\u00a0
liabilities
-106.1
-186.3
-31.6
-324.0
-108.3
-199.6
-35.8
-343.6
Current
\u00a0
loans
-
-
-
-
-
-
-
-
Used
\u00a0
bank
\u00a0
overdraft
\u00a0
limits
-8.6
-
-
-8.6
-3.4
-
-
-3.4
Option
\u00a0
liabilities
\u00a0
from
\u00a0
acquisitions
-
-1.3
-
-1.3
-3.8
-1.3
-
-5.1
Employee
\u00a0
benefit
\u00a0
liabilities
-
-
-140.0
-140.0
-
-
-194.3
-194.3
Non-interest-bearing
\u00a0
debt
Accounts
\u00a0
payable
-1,132.8
-
-
-1,132.8
-1,310.2
-
-
-1,310.2
Derivatives
Capital
\u00a0
inflow
2,856.0
118.4
0.4
2,974.8
3,515.1
90.3
-
3,605.3
Capital
\u00a0
outflow
-2,866.6
-117.6
-0.4
-2,984.6
-3,455.7
-88.6
-
-3,544.2
Interest
\u00a0
payments
-7.8
-11.9
-0.5
-20.2
-6.6
-8.9
-2.4
-17.9
Net
\u00a0
outflow
-1,265.8
-398.7
-172.1
-1,836.6
-1,372.9
-408.0
-232.5
-2,013.5
Fair
\u00a0
values
\u00a0
of
\u00a0
derivative
\u00a0
financial
\u00a0
instruments,
\u00a0
MEUR
Derivative
\u00a0
assets
Dec
\u00a0
31,
\u00a0
2022
Derivative
liabilities,
Dec
\u00a0
31,
\u00a0
2021
Fair
\u00a0
value,
\u00a0
net
Dec
\u00a0
31,
\u00a0
2022
Fair
\u00a0
value,
\u00a0
net
Dec
\u00a0
31,
\u00a0
2021
Foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts
\u00a0
and
\u00a0
swaps
In
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
20.8
-14.6
6.2
5.2
In
\u00a0
net
\u00a0
investment
\u00a0
hedge
\u00a0
accounting
-
-0.8
-0.8
-23.3
Other
\u00a0
hedges
6.4
-17.3
-11.0
64.1
Total
27.2
-32.7
-5.5
46.0
Nominal
\u00a0
values
\u00a0
of
\u00a0
derivative
\u00a0
financial
\u00a0
instruments,
\u00a0
MEUR
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Foreign
\u00a0
exchange
\u00a0
forward
\u00a0
contracts
\u00a0
and
\u00a0
swaps
In
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
1,009.7
945.6
In
\u00a0
net
\u00a0
investment
\u00a0
hedge
\u00a0
accounting
224.0
429.5
Other
\u00a0
hedges
1,741.2
2,230.2
Total
2,974.8
3,605.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_38": { "value": "
5.4
\u00a0
SHAREHOLDINGS
\u00a0
AND
\u00a0
OTHER
\u00a0
NON-CURRENT
\u00a0
FINANCIAL
\u00a0
ASSETS
On
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position,
\u00a0
shares
\u00a0
and
\u00a0
other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
\u00a0
were
\u00a0
EUR
\u00a0
118.8
\u00a0
(139.6)
\u00a0
million
\u00a0
and
\u00a0
EUR
\u00a0
2.9
\u00a0
(4.9)
\u00a0
million,
\u00a0
respectively.
The
\u00a0
shares
\u00a0
held
\u00a0
include
\u00a0
a
\u00a0
19.9%
\u00a0
holding
\u00a0
in
\u00a0
Toshiba
\u00a0
Elevator
\u00a0
and
\u00a0
Building
\u00a0
Systems
\u00a0
Corporation
\u00a0
(TELC).
\u00a0
TELC
\u00a0
consists
\u00a0
of
\u00a0
an
\u00a0
investment
\u00a0
in
\u00a0
equity
\u00a0
instruments
\u00a0
that
\u00a0
does
\u00a0
not
\u00a0
have
\u00a0
a
\u00a0
quoted
\u00a0
price
in
\u00a0
an
\u00a0
active
\u00a0
market.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
TELC
\u00a0
shares
\u00a0
is
\u00a0
estimated
\u00a0
using
\u00a0
a
\u00a0
dividend
\u00a0
discount
\u00a0
model
\u00a0
with
\u00a0
the
\u00a0
key
\u00a0
inputs
\u00a0
to
\u00a0
the
\u00a0
model
\u00a0
including
\u00a0
forecasted
\u00a0
dividend
\u00a0
and
\u00a0
the
\u00a0
discount
\u00a0
rate.
\u00a0
While
\u00a0
the
\u00a0
fair
value
\u00a0
of
\u00a0
the
\u00a0
investment
\u00a0
is
\u00a0
sensitive
\u00a0
to
\u00a0
changes
\u00a0
in
\u00a0
these
\u00a0
two
\u00a0
assumptions,
\u00a0
there
\u00a0
is
\u00a0
no
\u00a0
reasonably
\u00a0
possible
\u00a0
change
\u00a0
that
\u00a0
would
\u00a0
result
\u00a0
in
\u00a0
significant
\u00a0
impact
\u00a0
on
\u00a0
total
\u00a0
assets
\u00a0
or
\u00a0
equity
\u00a0
of
\u00a0
KONE.
Investment
\u00a0
also
\u00a0
includes
\u00a0
other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
\u00a0
which
\u00a0
are
\u00a0
investments
\u00a0
in
\u00a0
smaller
\u00a0
holdings
\u00a0
in
\u00a0
other
\u00a0
companies
\u00a0
without
\u00a0
public
\u00a0
quotation.
Accounting
\u00a0
principles
Shares
\u00a0
and
\u00a0
other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
Shares
\u00a0
include
\u00a0
long-term
\u00a0
strategic
\u00a0
investments,
\u00a0
which
\u00a0
are
\u00a0
investments
\u00a0
in
\u00a0
equity
\u00a0
instruments
\u00a0
that
\u00a0
do
\u00a0
not
\u00a0
have
\u00a0
a
\u00a0
quoted
\u00a0
price
\u00a0
in
\u00a0
an
\u00a0
active
\u00a0
market.
\u00a0
Other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
\u00a0
include
investments
\u00a0
in
\u00a0
smaller
\u00a0
holdings
\u00a0
in
\u00a0
other
\u00a0
companies
\u00a0
without
\u00a0
public
\u00a0
quotation.
\u00a0
Shares
\u00a0
and
\u00a0
other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
\u00a0
are
\u00a0
classified
\u00a0
as
\u00a0
investments
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
other
\u00a0
comprehensive
\u00a0
income.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
is
\u00a0
measured
\u00a0
using
\u00a0
income
\u00a0
or
\u00a0
market
approach
\u00a0
valuation
\u00a0
techniques
\u00a0
under
\u00a0
fair
\u00a0
value
\u00a0
hierarchy
\u00a0
level
\u00a0
3.
\u00a0
Upon
\u00a0
disposal
\u00a0
of
\u00a0
these
\u00a0
investments,
\u00a0
any
\u00a0
balance
\u00a0
within
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
other
\u00a0
reserves
\u00a0
for
\u00a0
these
\u00a0
investments
\u00a0
is
\u00a0
reclassified
\u00a0
to
retained
\u00a0
earnings
\u00a0
and
\u00a0
is
\u00a0
not
\u00a0
reclassified
\u00a0
to
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_75": { "value": "
Accounting
\u00a0
principles
Shares
\u00a0
and
\u00a0
other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
Shares
\u00a0
include
\u00a0
long-term
\u00a0
strategic
\u00a0
investments,
\u00a0
which
\u00a0
are
\u00a0
investments
\u00a0
in
\u00a0
equity
\u00a0
instruments
\u00a0
that
\u00a0
do
\u00a0
not
\u00a0
have
\u00a0
a
\u00a0
quoted
\u00a0
price
\u00a0
in
\u00a0
an
\u00a0
active
\u00a0
market.
\u00a0
Other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
\u00a0
include
investments
\u00a0
in
\u00a0
smaller
\u00a0
holdings
\u00a0
in
\u00a0
other
\u00a0
companies
\u00a0
without
\u00a0
public
\u00a0
quotation.
\u00a0
Shares
\u00a0
and
\u00a0
other
\u00a0
non-current
\u00a0
financial
\u00a0
assets
\u00a0
are
\u00a0
classified
\u00a0
as
\u00a0
investments
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
other
\u00a0
comprehensive
\u00a0
income.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
is
\u00a0
measured
\u00a0
using
\u00a0
income
\u00a0
or
\u00a0
market
approach
\u00a0
valuation
\u00a0
techniques
\u00a0
under
\u00a0
fair
\u00a0
value
\u00a0
hierarchy
\u00a0
level
\u00a0
3.
\u00a0
Upon
\u00a0
disposal
\u00a0
of
\u00a0
these
\u00a0
investments,
\u00a0
any
\u00a0
balance
\u00a0
within
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
other
\u00a0
reserves
\u00a0
for
\u00a0
these
\u00a0
investments
\u00a0
is
\u00a0
reclassified
\u00a0
to
retained
\u00a0
earnings
\u00a0
and
\u00a0
is
\u00a0
not
\u00a0
reclassified
\u00a0
to
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_39": { "value": "
5.5
\u00a0
DEPOSITS
\u00a0
AND
\u00a0
LOANS
\u00a0
RECEIVABLE
The
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable
\u00a0
are
\u00a0
not
\u00a0
materially
\u00a0
different
\u00a0
from
\u00a0
their
\u00a0
carrying
\u00a0
amounts.
\u00a0
Current
\u00a0
deposits
\u00a0
mature
\u00a0
within
\u00a0
one
\u00a0
year
\u00a0
and
\u00a0
consist
\u00a0
of
\u00a0
EUR
\u00a0
820.8
\u00a0
(1,906.6)
\u00a0
million
\u00a0
and
\u00a0
EUR
649.3
\u00a0
(487.1)
\u00a0
million
\u00a0
of
\u00a0
interest
\u00a0
rate
\u00a0
funds
\u00a0
and
\u00a0
short-term
\u00a0
bank
\u00a0
deposits,
\u00a0
respectively.
Deposits
\u00a0
and
\u00a0
loans
\u00a0
receivable,
\u00a0
MEUR
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Non-current
\u00a0
loans
\u00a0
receivable
2.5
2.6
Current
\u00a0
loans
\u00a0
receivable
4.8
1.0
Current
\u00a0
short-term
\u00a0
deposits
\u00a0
1,470.1
2,393.7
Total
1,477.4
2,397.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfLoansAndAdvancesToBanksExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_73": { "value": "
5.6
\u00a0
COMMITMENTS
Banks
\u00a0
and
\u00a0
financial
\u00a0
institutions
\u00a0
have
\u00a0
guaranteed
\u00a0
obligations
\u00a0
arising
\u00a0
in
\u00a0
the
\u00a0
ordinary
\u00a0
course
\u00a0
of
\u00a0
business
\u00a0
of
\u00a0
KONE
\u00a0
companies
\u00a0
up
\u00a0
to
\u00a0
a
\u00a0
maximum
\u00a0
of
\u00a0
EUR
\u00a0
1,802.9
\u00a0
(1,735.7)
\u00a0
million
\u00a0
as
\u00a0
of
\u00a0
December
\u00a0
31,
2022.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_40": { "value": "
5.6
\u00a0
COMMITMENTS
Banks
\u00a0
and
\u00a0
financial
\u00a0
institutions
\u00a0
have
\u00a0
guaranteed
\u00a0
obligations
\u00a0
arising
\u00a0
in
\u00a0
the
\u00a0
ordinary
\u00a0
course
\u00a0
of
\u00a0
business
\u00a0
of
\u00a0
KONE
\u00a0
companies
\u00a0
up
\u00a0
to
\u00a0
a
\u00a0
maximum
\u00a0
of
\u00a0
EUR
\u00a0
1,802.9
\u00a0
(1,735.7)
\u00a0
million
\u00a0
as
\u00a0
of
\u00a0
December
\u00a0
31,
2022.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_29": { "value": "
5.7.
\u00a0
EMPLOYEE
\u00a0
BENEFITS
KONE
\u00a0
operates
\u00a0
various
\u00a0
employee
\u00a0
bene
\u00a0
fit
\u00a0
plans
\u00a0
throughout
\u00a0
its
\u00a0
locations.
\u00a0
These
\u00a0
plans
\u00a0
include
\u00a0
both
\u00a0
defined
\u00a0
contribution
\u00a0
and
\u00a0
defined
\u00a0
benefit
\u00a0
schemes.
\u00a0
The
\u00a0
pension
\u00a0
benefits
\u00a0
provided
\u00a0
by
\u00a0
KONE
\u00a0
to
\u00a0
its
employees
\u00a0
are
\u00a0
primarily
\u00a0
organized
\u00a0
through
\u00a0
defined
\u00a0
contribution
\u00a0
plans.
KONE\u2019s
\u00a0
most
\u00a0
significant
\u00a0
funded
\u00a0
defined
\u00a0
benefit
\u00a0
plans
\u00a0
are
\u00a0
in
\u00a0
the
\u00a0
United
\u00a0
Kingdom
\u00a0
and
\u00a0
in
\u00a0
the
\u00a0
United
\u00a0
States.
\u00a0
Defined
\u00a0
benefit
\u00a0
pension
\u00a0
plans
\u00a0
are
\u00a0
funded
\u00a0
by
\u00a0
KONE
\u00a0
to
\u00a0
satisfy
\u00a0
local
\u00a0
statutory
\u00a0
funding
requirements.
\u00a0
The
\u00a0
assets
\u00a0
are
\u00a0
managed
\u00a0
by
\u00a0
external
\u00a0
fund
\u00a0
managers.
\u00a0
The
\u00a0
funds
\u00a0
are
\u00a0
allocated
\u00a0
between
\u00a0
equities
\u00a0
and
\u00a0
fixed
\u00a0
income
\u00a0
instruments
\u00a0
in
\u00a0
order
\u00a0
to
\u00a0
provide
\u00a0
return
\u00a0
at
\u00a0
target
\u00a0
level
\u00a0
and
\u00a0
limited
\u00a0
risk
profile.
\u00a0
The
\u00a0
valuations
\u00a0
of
\u00a0
the
\u00a0
obligations
\u00a0
are
\u00a0
carried
\u00a0
out
\u00a0
by
\u00a0
independent
\u00a0
qualified
\u00a0
actuaries.
\u00a0
The
\u00a0
discount
\u00a0
rates
\u00a0
used
\u00a0
in
\u00a0
actuarial
\u00a0
calculations
\u00a0
of
\u00a0
the
\u00a0
employee
\u00a0
benefit
\u00a0
liabilities
\u00a0
are
\u00a0
adjusted
\u00a0
to
\u00a0
market
rates.
In
\u00a0
the
\u00a0
United
\u00a0
Kingdom,
\u00a0
the
\u00a0
pension
\u00a0
scheme
\u00a0
is
\u00a0
designed
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
Definitive
\u00a0
Trust
\u00a0
Deed
\u00a0
and
\u00a0
Rules
\u00a0
and
\u00a0
complies
\u00a0
with
\u00a0
the
\u00a0
guidelines
\u00a0
of
\u00a0
the
\u00a0
UK
\u00a0
Pension
\u00a0
Regulator.
\u00a0
The
\u00a0
pension
\u00a0
scheme
has
\u00a0
been
\u00a0
closed
\u00a0
for
\u00a0
new
\u00a0
members
\u00a0
as
\u00a0
of
\u00a0
March
\u00a0
2002
\u00a0
and
\u00a0
is
\u00a0
managed
\u00a0
through
\u00a0
KONE
\u00a0
Pension
\u00a0
Trustees
\u00a0
Ltd.
In
\u00a0
the
\u00a0
United
\u00a0
States,
\u00a0
a
\u00a0
part
\u00a0
of
\u00a0
KONE\u2019s
\u00a0
employees
\u00a0
are
\u00a0
members
\u00a0
of
\u00a0
the
\u00a0
Employees\u2019
\u00a0
Retirement
\u00a0
Plan,
\u00a0
which
\u00a0
is
\u00a0
a
\u00a0
funded
\u00a0
defined
\u00a0
benefit
\u00a0
plan.
\u00a0
The
\u00a0
plan
\u00a0
is
\u00a0
managed
\u00a0
by
\u00a0
KONE
\u00a0
Inc.\u2019s
\u00a0
Pension
Committee.
\u00a0
In
\u00a0
addition
\u00a0
to
\u00a0
this
\u00a0
pension
\u00a0
plan,
\u00a0
KONE
\u00a0
also
\u00a0
provides
\u00a0
post
\u00a0
-employment
\u00a0
medical
\u00a0
and
\u00a0
life
\u00a0
insurance
\u00a0
benefits.
\u00a0
These
\u00a0
predominantly
\u00a0
unfunded
\u00a0
other
\u00a0
post-employment
\u00a0
benefit
\u00a0
plans
\u00a0
qualify
as
\u00a0
defined
\u00a0
benefit
\u00a0
plans
\u00a0
under
\u00a0
IFRS.
\u00a0
KONE
\u00a0
is
\u00a0
also
\u00a0
a
\u00a0
participant
\u00a0
in
\u00a0
a
\u00a0
multi-employer
\u00a0
employee
\u00a0
benefit
\u00a0
plan
\u00a0
in
\u00a0
the
\u00a0
United
\u00a0
States.
\u00a0
In
\u00a0
this
\u00a0
defined
\u00a0
contribution
\u00a0
plan
\u00a0
KONE
\u00a0
pays
\u00a0
a
\u00a0
contribution
\u00a0
based
\u00a0
on
the
\u00a0
hours
\u00a0
worked
\u00a0
by
\u00a0
participating
\u00a0
employees,
\u00a0
KONE\u2019s
\u00a0
obligation
\u00a0
is
\u00a0
limited
\u00a0
to
\u00a0
this
\u00a0
payment.
KONE\u2019s
\u00a0
main
\u00a0
unfunded
\u00a0
defined
\u00a0
benefit
\u00a0
plans
\u00a0
are
\u00a0
in
\u00a0
Germany,
\u00a0
Italy
\u00a0
(TFR
\u00a0
Trattamento
\u00a0
di
\u00a0
Fine
\u00a0
Rapporto,
\u00a0
termination
\u00a0
indemnity
\u00a0
plan)
\u00a0
and
\u00a0
in
\u00a0
Sweden.
\u00a0
The
\u00a0
pension
\u00a0
schemes
\u00a0
in
\u00a0
Germany
\u00a0
and
\u00a0
the
TFR
\u00a0
plan
\u00a0
in
\u00a0
Italy
\u00a0
are
\u00a0
closed
\u00a0
from
\u00a0
new
\u00a0
entrants.
\u00a0
In
\u00a0
Sweden,
\u00a0
the
\u00a0
pension
\u00a0
cover
\u00a0
is
\u00a0
organized
\u00a0
through
\u00a0
defined
\u00a0
contribution
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
unfunded
\u00a0
defined
\u00a0
benefit
\u00a0
plans
\u00a0
(ITP
\u00a0
system,
\u00a0
Industrins
\u00a0
och
handelns
\u00a0
till\u00e4ggspension).
KONE
\u00a0
has
\u00a0
defined
\u00a0
contribution
\u00a0
plans
\u00a0
for
\u00a0
pensions
\u00a0
and
\u00a0
other
\u00a0
post
\u00a0
-employment
\u00a0
benefits
\u00a0
in
\u00a0
most
\u00a0
countries.
\u00a0
Under
\u00a0
defined
\u00a0
contribution
\u00a0
plans
\u00a0
KONE\u2019s
\u00a0
contributions
\u00a0
are
\u00a0
recorded
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
in
the
\u00a0
accounting
\u00a0
period
\u00a0
to
\u00a0
which
\u00a0
they
\u00a0
relate.
\u00a0
Recognition
\u00a0
of
\u00a0
a
\u00a0
liability
\u00a0
is
\u00a0
not
\u00a0
required
\u00a0
because
\u00a0
KONE\u2019s
\u00a0
obligation
\u00a0
is
\u00a0
limited
\u00a0
to
\u00a0
the
\u00a0
payment
\u00a0
of
\u00a0
the
\u00a0
contributions
\u00a0
into
\u00a0
these
\u00a0
plans
\u00a0
or
\u00a0
funds.
The
\u00a0
defined
\u00a0
contribution
\u00a0
pension
\u00a0
plan
\u00a0
in
\u00a0
Finland
\u00a0
is
\u00a0
the
\u00a0
statutory
\u00a0
Finnish
\u00a0
employee
\u00a0
pension
\u00a0
scheme
\u00a0
(Finnish
\u00a0
Statutory
\u00a0
Employment
\u00a0
Pension
\u00a0
Scheme
\u00a0
\u201cTyEL\u201c),
\u00a0
according
\u00a0
to
\u00a0
which
\u00a0
the
\u00a0
benefits
\u00a0
are
directly
\u00a0
linked
\u00a0
to
\u00a0
the
\u00a0
beneficiary\u2019s
\u00a0
earnings.
\u00a0
TyEL
\u00a0
is
\u00a0
arranged
\u00a0
through
\u00a0
pension
\u00a0
insurance
\u00a0
companies.
Defined
\u00a0
benefit
\u00a0
obligations
\u00a0
expose
\u00a0
KONE
\u00a0
to
\u00a0
various
\u00a0
risks.
\u00a0
Corporate
\u00a0
bond
\u00a0
yields
\u00a0
are
\u00a0
used
\u00a0
as
\u00a0
a
\u00a0
reference
\u00a0
in
\u00a0
determining
\u00a0
the
\u00a0
discount
\u00a0
rates
\u00a0
used
\u00a0
for
\u00a0
calculation
\u00a0
of
\u00a0
defined
\u00a0
benefit
\u00a0
plan
\u00a0
related
obligations.
\u00a0
A
\u00a0
decrease
\u00a0
in
\u00a0
corporate
\u00a0
bond
\u00a0
yields
\u00a0
hence
\u00a0
will
\u00a0
increase
\u00a0
the
\u00a0
present
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
defined
\u00a0
benefit
\u00a0
obligation.
\u00a0
A
\u00a0
plan
\u00a0
deficit
\u00a0
can
\u00a0
occur
\u00a0
if
\u00a0
the
\u00a0
performance
\u00a0
of
\u00a0
the
\u00a0
plan
\u00a0
assets
\u00a0
is
\u00a0
below
\u00a0
the
above-mentioned
\u00a0
yield.
\u00a0
These
\u00a0
potential
\u00a0
deficits
\u00a0
may
\u00a0
require
\u00a0
further
\u00a0
contributions
\u00a0
to
\u00a0
the
\u00a0
plan
\u00a0
assets
\u00a0
by
\u00a0
the
\u00a0
Group.
Some
\u00a0
of
\u00a0
the
\u00a0
Group\u2019s
\u00a0
defined
\u00a0
benefit
\u00a0
obligations
\u00a0
are
\u00a0
linked
\u00a0
to
\u00a0
general
\u00a0
inflation
\u00a0
and
\u00a0
salary
\u00a0
level
\u00a0
development.
\u00a0
Higher
\u00a0
level
\u00a0
of
\u00a0
inflation
\u00a0
and
\u00a0
salary
\u00a0
level
\u00a0
will
\u00a0
result
\u00a0
in
\u00a0
a
\u00a0
higher
\u00a0
present
\u00a0
value
\u00a0
of
\u00a0
the
benefit
\u00a0
obligation.
Some
\u00a0
of
\u00a0
the
\u00a0
defined
\u00a0
benefit
\u00a0
plans
\u00a0
obligate
\u00a0
KONE
\u00a0
to
\u00a0
provide
\u00a0
benefits
\u00a0
to
\u00a0
plan
\u00a0
members
\u00a0
for
\u00a0
their
\u00a0
lifetime.
\u00a0
Therefore,
\u00a0
any
\u00a0
increase
\u00a0
in
\u00a0
life
\u00a0
expectancy
\u00a0
will
\u00a0
increase
\u00a0
defined
\u00a0
benefit
\u00a0
liability
\u00a0
of
\u00a0
these
plans.
Accounting
\u00a0
principles
Employee
\u00a0
benefits
The
\u00a0
Group
\u00a0
operates
\u00a0
various
\u00a0
employee
\u00a0
benefit
\u00a0
plans
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
local
\u00a0
conditions
\u00a0
and
\u00a0
practices.
\u00a0
The
\u00a0
plans
\u00a0
are
\u00a0
classified
\u00a0
as
\u00a0
either
\u00a0
defined
\u00a0
contribution
\u00a0
plans
\u00a0
or
\u00a0
defined
\u00a0
benefit
\u00a0
plans.
\u00a0
The
pension
\u00a0
plans
\u00a0
are
\u00a0
generally
\u00a0
funded
\u00a0
by
\u00a0
payments
\u00a0
from
\u00a0
employees
\u00a0
and
\u00a0
by
\u00a0
the
\u00a0
relevant
\u00a0
KONE
\u00a0
companies.
\u00a0
The
\u00a0
assets
\u00a0
of
\u00a0
these
\u00a0
plans
\u00a0
are
\u00a0
generally
\u00a0
held
\u00a0
in
\u00a0
separate
\u00a0
insurance
\u00a0
companies
\u00a0
or
\u00a0
trustee-
administered
\u00a0
funds.
\u00a0
Pension
\u00a0
costs
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
calculations
\u00a0
by
\u00a0
the
\u00a0
local
\u00a0
authorities
\u00a0
or
\u00a0
independent
\u00a0
qualified
\u00a0
actuaries.
\u00a0
Contributions
\u00a0
to
\u00a0
the
\u00a0
defined
\u00a0
contribution
\u00a0
plans
\u00a0
are
\u00a0
charged
directly
\u00a0
to
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
in
\u00a0
the
\u00a0
year
\u00a0
to
\u00a0
which
\u00a0
these
\u00a0
contributions
\u00a0
relate.
\u00a0
For
\u00a0
defined
\u00a0
benefit
\u00a0
plans,
\u00a0
pension
\u00a0
cost
\u00a0
is
\u00a0
determined
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
advice
\u00a0
of
\u00a0
qualified
\u00a0
actuaries
\u00a0
who
\u00a0
carry
\u00a0
out
\u00a0
a
\u00a0
full
valuation
\u00a0
of
\u00a0
the
\u00a0
plan
\u00a0
on
\u00a0
a
\u00a0
regular
\u00a0
basis
\u00a0
using
\u00a0
the
\u00a0
projected
\u00a0
unit
\u00a0
credit
\u00a0
method.
\u00a0
Under
\u00a0
this
\u00a0
method,
\u00a0
the
\u00a0
costs
\u00a0
of
\u00a0
providing
\u00a0
pensions
\u00a0
are
\u00a0
charged
\u00a0
to
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
so
\u00a0
as
\u00a0
to
\u00a0
spread
\u00a0
the
\u00a0
regular
costs
\u00a0
over
\u00a0
the
\u00a0
working
\u00a0
lives
\u00a0
of
\u00a0
employees.
\u00a0
KONE
\u00a0
presents
\u00a0
the
\u00a0
service
\u00a0
cost
\u00a0
relating
\u00a0
to
\u00a0
defined
\u00a0
benefit
\u00a0
obligations
\u00a0
in
\u00a0
employment
\u00a0
expenses
\u00a0
while
\u00a0
the
\u00a0
net
\u00a0
interest
\u00a0
is
\u00a0
presented
\u00a0
in
\u00a0
financing
\u00a0
expenses.
The
\u00a0
liability
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
defined
\u00a0
benefit
\u00a0
post-employment
\u00a0
plans
\u00a0
is
\u00a0
the
\u00a0
present
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
defined
\u00a0
benefit
\u00a0
obligation
\u00a0
less
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
plan
\u00a0
assets.
\u00a0
The
\u00a0
discount
\u00a0
rates
\u00a0
used
\u00a0
in
\u00a0
the
\u00a0
actuarial
calculations
\u00a0
of
\u00a0
employee
\u00a0
benefits
\u00a0
liabilities
\u00a0
are
\u00a0
adjusted
\u00a0
to
\u00a0
market
\u00a0
rates.
\u00a0
Obligations
\u00a0
to
\u00a0
pay
\u00a0
long
\u00a0
-term
\u00a0
disability
\u00a0
benefit,
\u00a0
the
\u00a0
level
\u00a0
of
\u00a0
which
\u00a0
is
\u00a0
dependent
\u00a0
on
\u00a0
the
\u00a0
length
\u00a0
of
\u00a0
service
\u00a0
of
\u00a0
the
\u00a0
employee,
\u00a0
are
measured
\u00a0
to
\u00a0
reflect
\u00a0
the
\u00a0
probability
\u00a0
that
\u00a0
payments
\u00a0
will
\u00a0
be
\u00a0
required
\u00a0
and
\u00a0
the
\u00a0
length
\u00a0
of
\u00a0
service
\u00a0
for
\u00a0
which
\u00a0
it
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
made.
Defined
\u00a0
benefit
\u00a0
plan
\u00a0
liability
Other
\u00a0
post-employment
benefit
\u00a0
liability
Fair
\u00a0
value
\u00a0
of
\u00a0
plan
\u00a0
assets
Net
\u00a0
defined
\u00a0
benefit
\u00a0
balance
MEUR
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Balance
\u00a0
at
\u00a0
beginning
\u00a0
of
\u00a0
period
714.5
638.9
7.1
10.1
550.2
480.8
171.4
168.1
Current
\u00a0
service
\u00a0
costs
20.5
17.5
0.2
0.1
-
-
20.7
17.7
Interest
\u00a0
expense
14.3
11.2
0.2
0.1
-
-
14.5
11.3
Interest
\u00a0
income
-
-
-
-
11.6
8.8
-11.6
-8.8
Other
-1.5
-0.6
-
-
-2.9
-2.0
1.5
1.3
Components
\u00a0
of
\u00a0
defined
\u00a0
benefit
\u00a0
costs
\u00a0
recognized
in
\u00a0
the
\u00a0
consolidated
\u00a0
statements
\u00a0
of
\u00a0
income
33.4
28.1
0.4
0.2
8.7
6.9
25.1
21.5
Return
\u00a0
on
\u00a0
plan
\u00a0
assets,
\u00a0
excluding
\u00a0
interest
\u00a0
income
-
-
-
-
-151.4
36.1
151.4
-36.1
Remeasurements
-184.0
42.7
1.6
-3.4
-
-
-182.4
39.3
Remeasurements
\u00a0
recognized
\u00a0
in
\u00a0
the
\u00a0
consolidated
statements
\u00a0
of
\u00a0
comprehensive
\u00a0
income
-184.0
42.7
1.6
-3.4
-151.4
36.1
-31.1
3.3
Employer
\u00a0
contributions
-
-
-
-
29.0
13.0
-29.0
-13.0
Plan
\u00a0
participants\u2019
\u00a0
contributions
1.9
0.4
0.2
0.2
2.2
0.6
-
-
Benefits
\u00a0
paid
-46.7
-29.3
-0.8
-0.7
-39.1
-23.1
-8.4
-6.9
Settlement
\u00a0
payments
-
-0.3
-
-
-
-
-
-0.3
Business
\u00a0
combinations,
\u00a0
disposals
\u00a0
and
\u00a0
other
0.2
-0.1
-
-
-
-
0.2
-0.1
Foreign
\u00a0
currency
\u00a0
translation
\u00a0
effects
0.0
34.1
0.4
0.7
-1.4
36.0
1.8
-1.2
Other
\u00a0
reconciling
\u00a0
items
\u00a0
-44.6
4.9
-0.1
0.1
-9.3
26.5
-35.4
-21.5
Balance
\u00a0
at
\u00a0
end
\u00a0
of
\u00a0
period
519.2
714.5
8.9
7.1
398.2
550.2
130.0
171.4
Present
\u00a0
value
\u00a0
of
\u00a0
unfunded
\u00a0
obligations
84.2
114.8
8.9
7.1
-
-
93.2
121.9
Present
\u00a0
value
\u00a0
of
\u00a0
funded
\u00a0
obligations
435.0
599.7
-
-
-
-
435.0
599.7
Fair
\u00a0
value
\u00a0
of
\u00a0
benefit
\u00a0
plans'
\u00a0
assets
-
-
-
-
398.2
550.2
-398.2
-550.2
Total
519.2
714.5
8.9
7.1
398.2
550.2
130.0
171.4
The
\u00a0
expected
\u00a0
contributions
\u00a0
to
\u00a0
defined
\u00a0
benefit
\u00a0
type
\u00a0
arrangements
\u00a0
in
\u00a0
2023
\u00a0
are
\u00a0
EUR
\u00a0
22.0
\u00a0
million.
The
\u00a0
actual
\u00a0
return
\u00a0
on
\u00a0
defined
\u00a0
benefit
\u00a0
plans\u2019
\u00a0
assets
\u00a0
was
\u00a0
EUR
\u00a0
-139.8
\u00a0
(44.9)
\u00a0
million.
Fair
\u00a0
values
\u00a0
of
\u00a0
major
\u00a0
classes
\u00a0
of
\u00a0
plan
\u00a0
assets,
MEUR
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Fair
\u00a0
value
\u00a0
of
\u00a0
plan
\u00a0
assets
\u00a0
with
\u00a0
a
\u00a0
quoted
\u00a0
market
\u00a0
price
369.3
521.5
Other
28.9
28.7
Total
398.2
550.2
Amounts
\u00a0
recognized
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income,
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Defined
\u00a0
contribution
\u00a0
pension
\u00a0
plans
313.0
281.5
Defined
\u00a0
benefit
\u00a0
pension
\u00a0
plans
24.7
21.2
Other
\u00a0
post-employment
\u00a0
benefits
0.4
0.2
Total
338.1
.
302.9
Defined
\u00a0
benefit
\u00a0
plans:
\u00a0
assumptions
\u00a0
used
\u00a0
in
calculating
\u00a0
benefit
\u00a0
obligations
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Europe
USA
Europe
USA
Discount
\u00a0
rate,
\u00a0
%
4.33
5.03
1.55
2.87
Future
\u00a0
salary
\u00a0
increase,
\u00a0
%
2.6
4.0
2.3
4.0
Future
\u00a0
pension
\u00a0
increase,
\u00a0
%
1.4
-
1.5
-
Sensitivity
\u00a0
of
\u00a0
the
\u00a0
defined
\u00a0
benefit
\u00a0
obligation
\u00a0
to
changes
\u00a0
in
\u00a0
actuarial
\u00a0
assumptions
Impact
\u00a0
on
\u00a0
defined
\u00a0
benefit
\u00a0
obligation
Dec
\u00a0
31,
\u00a0
2022
Dec
\u00a0
31,
\u00a0
2021
Discount
\u00a0
rate,
\u00a0
+0.25
\u00a0
percentage
\u00a0
points
-2.5%
-3.6%
Discount
\u00a0
rate,
\u00a0
-0.25
\u00a0
percentage
\u00a0
points
2.7%
3.8%
Future
\u00a0
pension
\u00a0
increase,
\u00a0
+0.25
\u00a0
percentage
\u00a0
points
1.2%
2.1%
Future
\u00a0
pension
\u00a0
increase,
\u00a0
-0.25
\u00a0
percentage
\u00a0
points
-1.2%
.
-1.8%
Sensitivities
\u00a0
are
\u00a0
calculated
\u00a0
by
\u00a0
changing
\u00a0
one
\u00a0
assumption
\u00a0
at
\u00a0
a
\u00a0
time
\u00a0
while
\u00a0
keeping
\u00a0
other
\u00a0
variables
\u00a0
constant.
6.1
\u00a0
MANAGEMENT
\u00a0
REMUNERATION
The
\u00a0
Vice
\u00a0
Chair
\u00a0
of
\u00a0
the
\u00a0
Board,
\u00a0
Jussi
\u00a0
Herlin
\u00a0
has
\u00a0
a
\u00a0
separate
\u00a0
employment
\u00a0
contract
\u00a0
for
\u00a0
his
\u00a0
role
\u00a0
as
\u00a0
Executive
\u00a0
Vice
\u00a0
Chair
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
at
\u00a0
KONE.
\u00a0
The
\u00a0
employment-based
\u00a0
compensation
\u00a0
for
\u00a0
Jussi
\u00a0
Herlin
consists
\u00a0
of
\u00a0
a
\u00a0
base
\u00a0
salary
\u00a0
and
\u00a0
an
\u00a0
annual
\u00a0
bonus
\u00a0
decided
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
on
\u00a0
the
\u00a0
basis
\u00a0
of
\u00a0
the
\u00a0
Group\u2019s
\u00a0
financial
\u00a0
result.
\u00a0
The
\u00a0
annual
\u00a0
bonus
\u00a0
may
\u00a0
not
\u00a0
exceed
\u00a0
100
\u00a0
percent
\u00a0
of
\u00a0
the
\u00a0
recipient\u2019s
\u00a0
annual
\u00a0
base
\u00a0
salary.
In
\u00a0
2022,
\u00a0
Jussi
\u00a0
Herlin\u2019s
\u00a0
base
\u00a0
salary
\u00a0
was
\u00a0
EUR
\u00a0
125,600.
\u00a0
In
\u00a0
addition,
\u00a0
he
\u00a0
received
\u00a0
a
\u00a0
bonus
\u00a0
of
\u00a0
EUR
\u00a0
26,166,
\u00a0
which
\u00a0
was
\u00a0
earned
\u00a0
in
\u00a0
2021.
\u00a0
There
\u00a0
will
\u00a0
be
\u00a0
no
\u00a0
bonus
\u00a0
payout
\u00a0
in
\u00a0
2023
\u00a0
as
\u00a0
the
\u00a0
performance
\u00a0
criteria
for
\u00a0
2022,
\u00a0
tied
\u00a0
to
\u00a0
the
\u00a0
Group\u2019s
\u00a0
financial
\u00a0
performance,
\u00a0
were
\u00a0
not
\u00a0
met.
\u00a0
Jussi
\u00a0
Herlin\u2019s
\u00a0
holdings
\u00a0
of
\u00a0
shares
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
table
\u00a0
on
\u00a0
page
\u00a0
133.
\u00a0
The
\u00a0
Executive
\u00a0
Vice
\u00a0
Chair\u2019s
\u00a0
retirement
\u00a0
age
\u00a0
and
\u00a0
pension
are
\u00a0
determined
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
Finland\u2019s
\u00a0
Pensions
\u00a0
Act.
\u00a0
Statutory
\u00a0
pension
\u00a0
cost
\u00a0
for
\u00a0
the
\u00a0
year
\u00a0
2022
\u00a0
was
\u00a0
EUR
\u00a0
26,954.
\u00a0
No
\u00a0
separate
\u00a0
agreement
\u00a0
regarding
\u00a0
early
\u00a0
retirement
\u00a0
has
\u00a0
been
\u00a0
made.
The
\u00a0
compensation
\u00a0
for
\u00a0
the
\u00a0
President
\u00a0
and
\u00a0
CEO
\u00a0
Henrik
\u00a0
Ehrnrooth
\u00a0
consists
\u00a0
of
\u00a0
a
\u00a0
base
\u00a0
salary
\u00a0
and
\u00a0
an
\u00a0
annual
\u00a0
bonus
\u00a0
determined
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
on
\u00a0
the
\u00a0
basis
\u00a0
of
\u00a0
the
\u00a0
Corporation\u2019s
\u00a0
key
\u00a0
targets.
\u00a0
The
\u00a0
annual
bonus
\u00a0
may
\u00a0
not
\u00a0
exceed
\u00a0
150
\u00a0
percent
\u00a0
of
\u00a0
his
\u00a0
annual
\u00a0
salary.
\u00a0
In
\u00a0
2022,
\u00a0
Henrik
\u00a0
Ehrnrooth\u2019s
\u00a0
base
\u00a0
salary
\u00a0
was
\u00a0
EUR
\u00a0
750,000.
\u00a0
He
\u00a0
also
\u00a0
received
\u00a0
a
\u00a0
bonus
\u00a0
of
\u00a0
EUR
\u00a0
835,350,
\u00a0
which
\u00a0
was
\u00a0
earned
\u00a0
in
\u00a0
2021.
\u00a0
His
accrued
\u00a0
bonus
\u00a0
for
\u00a0
2022
\u00a0
totaled
\u00a0
to
\u00a0
EUR
\u00a0
465,675.
\u00a0
The
\u00a0
performance
\u00a0
criteria
\u00a0
applied
\u00a0
to
\u00a0
this
\u00a0
annual
\u00a0
short-term
\u00a0
incentive
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
financial,
\u00a0
strategic
\u00a0
and
\u00a0
individual
\u00a0
performance.
\u00a0
The
\u00a0
bonus
\u00a0
will
\u00a0
be
paid
\u00a0
in
\u00a0
2023.
\u00a0
In
\u00a0
addition,
\u00a0
Henrik
\u00a0
Ehrnrooth
\u00a0
is
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
long-term
\u00a0
incentive
\u00a0
plan
\u00a0
for
\u00a0
the
\u00a0
Group\u2019s
\u00a0
senior
\u00a0
management.
\u00a0
The
\u00a0
maximum
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
available
\u00a0
for
\u00a0
earning
\u00a0
for
\u00a0
the
\u00a0
President
\u00a0
and
\u00a0
CEO
\u00a0
for
the
\u00a0
2021
\u00a0
long
\u00a0
-term
\u00a0
incentive
\u00a0
plan
\u00a0
is
\u00a0
53,541
\u00a0
KONE
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
(gross
\u00a0
before
\u00a0
deduction
\u00a0
for
\u00a0
applicable
\u00a0
taxes).
\u00a0
The
\u00a0
final
\u00a0
outcome
\u00a0
and
\u00a0
any
\u00a0
potential
\u00a0
share
\u00a0
awards
\u00a0
under
\u00a0
the
\u00a0
long-term
\u00a0
incentive
\u00a0
plan
for
\u00a0
the
\u00a0
year
\u00a0
2021
\u00a0
will
\u00a0
be
\u00a0
confirmed
\u00a0
in
\u00a0
January
\u00a0
2024,
\u00a0
depending
\u00a0
on
\u00a0
the
\u00a0
performance
\u00a0
during
\u00a0
the
\u00a0
years
\u00a0
2021,
\u00a0
2022
\u00a0
and
\u00a0
2023.
The
\u00a0
maximum
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
available
\u00a0
for
\u00a0
earning
\u00a0
for
\u00a0
the
\u00a0
President
\u00a0
and
\u00a0
CEO
\u00a0
for
\u00a0
the
\u00a0
2022
\u00a0
long-term
\u00a0
incentive
\u00a0
plan
\u00a0
is
\u00a0
58,243
\u00a0
KONE
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
(gross
\u00a0
before
\u00a0
deduction
\u00a0
for
\u00a0
applicable
taxes).
\u00a0
The
\u00a0
final
\u00a0
outcome
\u00a0
and
\u00a0
any
\u00a0
potential
\u00a0
share
\u00a0
awards
\u00a0
under
\u00a0
the
\u00a0
share-based
\u00a0
incentive
\u00a0
plan
\u00a0
for
\u00a0
the
\u00a0
year
\u00a0
2022
\u00a0
will
\u00a0
be
\u00a0
confirmed
\u00a0
in
\u00a0
January
\u00a0
2025,
\u00a0
depending
\u00a0
on
\u00a0
the
\u00a0
performance
\u00a0
during
\u00a0
the
\u00a0
years
2022,
\u00a0
2023
\u00a0
and
\u00a0
2024.
The
\u00a0
performance
\u00a0
criteria
\u00a0
applied
\u00a0
to
\u00a0
the
\u00a0
2021
\u00a0
and
\u00a0
2022
\u00a0
performance
\u00a0
years
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
a
\u00a0
combination
\u00a0
of
\u00a0
annual
\u00a0
sales
\u00a0
growth
\u00a0
and
\u00a0
adjusted
\u00a0
EBIT
\u00a0
margin,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
improvements
\u00a0
in
sustainability.
\u00a0
The
\u00a0
sustainability
\u00a0
performance
\u00a0
condition
\u00a0
is
\u00a0
a
\u00a0
combination
\u00a0
of
\u00a0
reductions
\u00a0
in
\u00a0
carbon
\u00a0
footprint,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
diversity
\u00a0
and
\u00a0
inclusion
\u00a0
and
\u00a0
safety
\u00a0
related
\u00a0
targets.
\u00a0
Henrik
\u00a0
Ehrnrooth\u2019s
\u00a0
holdings
\u00a0
of
shares
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
table
\u00a0
on
\u00a0
page
\u00a0
133.
\u00a0
Henrik
\u00a0
Ehrnrooth\u2019s
\u00a0
retirement
\u00a0
age
\u00a0
and
\u00a0
pension
\u00a0
are
\u00a0
determined
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
Finland\u2019s
\u00a0
Pensions
\u00a0
Act.
\u00a0
Statutory
\u00a0
pension
\u00a0
cost
\u00a0
for
\u00a0
the
\u00a0
year
\u00a0
2022
was
\u00a0
EUR
\u00a0
281,558.
\u00a0
No
\u00a0
separate
\u00a0
agreement
\u00a0
regarding
\u00a0
early
\u00a0
retirement
\u00a0
has
\u00a0
been
\u00a0
made.
\u00a0
Should
\u00a0
his
\u00a0
employment
\u00a0
contract
\u00a0
be
\u00a0
terminated
\u00a0
before
\u00a0
retirement,
\u00a0
he
\u00a0
has
\u00a0
the
\u00a0
right
\u00a0
to
\u00a0
the
\u00a0
equivalent
\u00a0
of
\u00a0
18
months\u2019
\u00a0
salary,
\u00a0
which
\u00a0
includes
\u00a0
the
\u00a0
salary
\u00a0
for
\u00a0
a
\u00a0
six-month
\u00a0
term
\u00a0
of
\u00a0
notice.
\u00a0
The
\u00a0
compensation
\u00a0
for
\u00a0
the
\u00a0
members
\u00a0
of
\u00a0
the
\u00a0
Executive
\u00a0
Board
\u00a0
comprises
\u00a0
a
\u00a0
base
\u00a0
salary
\u00a0
and
\u00a0
an
\u00a0
annual
\u00a0
bonus,
\u00a0
based
\u00a0
on
\u00a0
financial
\u00a0
targets
\u00a0
and
\u00a0
strategy
\u00a0
execution,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
individual
\u00a0
performance.
The
\u00a0
bonus
\u00a0
amount
\u00a0
is
\u00a0
determined
\u00a0
by
\u00a0
the
\u00a0
Nomination
\u00a0
and
\u00a0
Compensation
\u00a0
Committee
\u00a0
and
\u00a0
may
\u00a0
not
\u00a0
exceed
\u00a0
75
\u00a0
percent
\u00a0
of
\u00a0
the
\u00a0
annual
\u00a0
salary.
\u00a0
The
\u00a0
members
\u00a0
of
\u00a0
the
\u00a0
Executive
\u00a0
Board
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
long-term
\u00a0
share-based
\u00a0
incentive
\u00a0
plan
\u00a0
for
\u00a0
senior
\u00a0
management.
\u00a0
The
\u00a0
maximum
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
available
\u00a0
for
\u00a0
earning
\u00a0
for
\u00a0
the
\u00a0
Executive
Board
\u00a0
for
\u00a0
the
\u00a0
2021
\u00a0
long-term
\u00a0
incentive
\u00a0
plan
\u00a0
is
\u00a0
233,794
\u00a0
KONE
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
(gross
\u00a0
before
\u00a0
deduction
\u00a0
for
\u00a0
applicable
\u00a0
taxes).
\u00a0
The
\u00a0
final
\u00a0
outcome
\u00a0
and
\u00a0
any
\u00a0
potential
\u00a0
share
\u00a0
awards
\u00a0
under
\u00a0
the
\u00a0
long-term
incentive
\u00a0
plan
\u00a0
for
\u00a0
the
\u00a0
year
\u00a0
2021
\u00a0
will
\u00a0
be
\u00a0
confirmed
\u00a0
in
\u00a0
January
\u00a0
2024,
\u00a0
depending
\u00a0
on
\u00a0
the
\u00a0
performance
\u00a0
during
\u00a0
the
\u00a0
years
\u00a0
2021,
\u00a0
2022
\u00a0
and
\u00a0
2023.
\u00a0
The
\u00a0
maximum
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
available
\u00a0
for
\u00a0
earning
\u00a0
for
\u00a0
the
\u00a0
Executive
\u00a0
Board
\u00a0
for
\u00a0
the
\u00a0
2022
\u00a0
long
\u00a0
-term
\u00a0
incentive
\u00a0
plan
\u00a0
is
\u00a0
285,391
\u00a0
KONE
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
(gross
\u00a0
before
\u00a0
deduction
\u00a0
for
\u00a0
applicable
taxes).
\u00a0
The
\u00a0
final
\u00a0
outcome
\u00a0
and
\u00a0
any
\u00a0
potential
\u00a0
share
\u00a0
awards
\u00a0
under
\u00a0
the
\u00a0
long-term
\u00a0
incentive
\u00a0
plan
\u00a0
for
\u00a0
the
\u00a0
year
\u00a0
2022
\u00a0
will
\u00a0
be
\u00a0
confirmed
\u00a0
in
\u00a0
January
\u00a0
2025,
\u00a0
depending
\u00a0
on
\u00a0
the
\u00a0
performance
\u00a0
during
\u00a0
the
\u00a0
years
2022,
\u00a0
2023
\u00a0
and
\u00a0
2024.
\u00a0
The
\u00a0
Executive
\u00a0
Board
\u00a0
members\u2019
\u00a0
holdings
\u00a0
of
\u00a0
shares
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
table
\u00a0
on
\u00a0
page
\u00a0
133.
\u00a0
No
\u00a0
separate
\u00a0
agreement
\u00a0
regarding
\u00a0
early
\u00a0
retirement
\u00a0
has
\u00a0
been
\u00a0
made
\u00a0
for
\u00a0
the
members
\u00a0
of
\u00a0
the
\u00a0
Executive
\u00a0
Board.
\u00a0
The
\u00a0
compensation
\u00a0
for
\u00a0
the
\u00a0
termination
\u00a0
of
\u00a0
the
\u00a0
employment
\u00a0
contract
\u00a0
prior
\u00a0
to
\u00a0
retirement
\u00a0
is
\u00a0
a
\u00a0
maximum
\u00a0
of
\u00a0
15
\u00a0
months\u2019
\u00a0
salary,
\u00a0
which
\u00a0
includes
\u00a0
the
\u00a0
salary
\u00a0
for
\u00a0
a
\u00a0
six-month
term
\u00a0
of
\u00a0
notice.
\u00a0
The
\u00a0
carrying
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
pension
\u00a0
liability
\u00a0
for
\u00a0
Board
\u00a0
Member
\u00a0
Matti
\u00a0
Alahuhta
\u00a0
(served
\u00a0
as
\u00a0
President
\u00a0
&
\u00a0
CEO
\u00a0
until
\u00a0
March
\u00a0
31,
\u00a0
2014)
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
balance
\u00a0
sheet
\u00a0
is
\u00a0
EUR
\u00a0
4.5
\u00a0
million
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
2022
and
\u00a0
the
\u00a0
monthly
\u00a0
pension
\u00a0
paid
\u00a0
by
\u00a0
KONE
\u00a0
to
\u00a0
him
\u00a0
is
\u00a0
EUR
\u00a0
23,069
\u00a0
(December
\u00a0
2022).
The
\u00a0
key
\u00a0
management
\u00a0
of
\u00a0
KONE
\u00a0
consists
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
\u00a0
KONE
\u00a0
Corporation
\u00a0
and
\u00a0
the
\u00a0
Executive
\u00a0
Board.
Compensation
\u00a0
paid
\u00a0
to
\u00a0
the
\u00a0
key
\u00a0
management,
\u00a0
MEUR
\u00a0
\u00b9
\u207e
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Salaries
\u00a0
and
\u00a0
other
\u00a0
remunerations
10.1
9.1
Share-based
\u00a0
payments
0.0
12.9
Total
10.1
22.0
Compensation
\u00a0
paid
\u00a0
to
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors,
\u00a0
the
\u00a0
President
\u00a0
and
\u00a0
CEO
\u00a0
(EUR,
thousand)
\u00a0
\u00b3
\u207e
\u00a0
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Herlin
\u00a0
Antti,
\u00a0
Chairman
\u00a0
of
\u00a0
the
\u00a0
Board
240.0
298.1
Herlin
\u00a0
Jussi,
\u00a0
Vice
\u00a0
Chair
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
\u00b9
\u207e
125.6
107.9
Ehrnrooth
\u00a0
Henrik,
\u00a0
President
\u00a0
&
\u00a0
CEO
\u00a0
\u00b9
\u207e
750.0
750.0
Alahuhta
\u00a0
Matti
130.0
113.0
Duinhoven
\u00a0
Susan
120.0
111.0
Herlin
\u00a0
Iiris
110.0
111.0
Kant
\u00a0
Ravi
130.0
114.0
Kaskeala
\u00a0
Juhani*
-
113.0
Mikkilineni
\u00a0
Krishna
110.0
-
Xin-Zhe
\u00a0
Li
\u00a0
Jennifer
120.0
110.0
Brunila
\u00a0
Anne**
-
1.5
Pietik\u00e4inen
\u00a0
Sirpa**
-
1.0
Total
1,835.6
1,830.5
*
\u00a0
Board
\u00a0
member
\u00a0
until
\u00a0
March
\u00a0
1,2022
**
\u00a0
Board
\u00a0
member
\u00a0
until
\u00a0
March
\u00a0
2,2021
\u00b9
\u207e
\u00a0
In
\u00a0
addition,
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
year
\u00a0
2022
\u00a0
Henrik
\u00a0
Ehrnrooth\u2019s
\u00a0
accrued
\u00a0
bonus
\u00a0
was
\u00a0
EUR
\u00a0
465,675
\u00a0
(835,350),
\u00a0
which
\u00a0
is
\u00a0
payable
\u00a0
in
\u00a0
2023
\u00a0
(2022).
\u00a0
In
\u00a0
2021,
\u00a0
Jussi
\u00a0
Herlin\u2019s
\u00a0
accrued
\u00a0
bonus
\u00a0
was
\u00a0
EUR
\u00a0
26,166
\u00a0
and
\u00a0
Antti
\u00a0
Herlin
\u00a0
was
\u00a0
paid
\u00a0
EUR
\u00a0
74,600
\u00a0
in
\u00a0
base
\u00a0
salary
\u00a0
and
\u00a0
a
bonus
\u00a0
totaling
\u00a0
EUR
\u00a0
290,462
\u00a0
which
\u00a0
was
\u00a0
earned
\u00a0
in
\u00a0
2020.
\u00a0
In
\u00a0
April
\u00a0
2021,
\u00a0
the
\u00a0
share
\u00a0
-based
\u00a0
payments
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
year
\u00a0
2020
\u00a0
received
\u00a0
by
\u00a0
Henrik
\u00a0
Ehrnrooth
\u00a0
was
\u00a0
EUR
\u00a0
2,512,242
\u00a0
\u00b2\u207e
\u00a0
Includes
\u00a0
also
\u00a0
the
\u00a0
annual
\u00a0
compensation
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
which
\u00a0
was
\u00a0
performed
\u00a0
by
\u00a0
using
\u00a0
shares
\u00a0
of
\u00a0
KONE
\u00a0
Corporation
\u00a0
decided
\u00a0
by
\u00a0
the
\u00a0
Annual
\u00a0
General
\u00a0
Meeting
\u00a0
held
\u00a0
on
\u00a0
March
\u00a0
1,
\u00a0
2022.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_28": { "value": "
Accounting
\u00a0
principles
Employee
\u00a0
benefits
The
\u00a0
Group
\u00a0
operates
\u00a0
various
\u00a0
employee
\u00a0
benefit
\u00a0
plans
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
local
\u00a0
conditions
\u00a0
and
\u00a0
practices.
\u00a0
The
\u00a0
plans
\u00a0
are
\u00a0
classified
\u00a0
as
\u00a0
either
\u00a0
defined
\u00a0
contribution
\u00a0
plans
\u00a0
or
\u00a0
defined
\u00a0
benefit
\u00a0
plans.
\u00a0
The
pension
\u00a0
plans
\u00a0
are
\u00a0
generally
\u00a0
funded
\u00a0
by
\u00a0
payments
\u00a0
from
\u00a0
employees
\u00a0
and
\u00a0
by
\u00a0
the
\u00a0
relevant
\u00a0
KONE
\u00a0
companies.
\u00a0
The
\u00a0
assets
\u00a0
of
\u00a0
these
\u00a0
plans
\u00a0
are
\u00a0
generally
\u00a0
held
\u00a0
in
\u00a0
separate
\u00a0
insurance
\u00a0
companies
\u00a0
or
\u00a0
trustee-
administered
\u00a0
funds.
\u00a0
Pension
\u00a0
costs
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
calculations
\u00a0
by
\u00a0
the
\u00a0
local
\u00a0
authorities
\u00a0
or
\u00a0
independent
\u00a0
qualified
\u00a0
actuaries.
\u00a0
Contributions
\u00a0
to
\u00a0
the
\u00a0
defined
\u00a0
contribution
\u00a0
plans
\u00a0
are
\u00a0
charged
directly
\u00a0
to
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
in
\u00a0
the
\u00a0
year
\u00a0
to
\u00a0
which
\u00a0
these
\u00a0
contributions
\u00a0
relate.
\u00a0
For
\u00a0
defined
\u00a0
benefit
\u00a0
plans,
\u00a0
pension
\u00a0
cost
\u00a0
is
\u00a0
determined
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
advice
\u00a0
of
\u00a0
qualified
\u00a0
actuaries
\u00a0
who
\u00a0
carry
\u00a0
out
\u00a0
a
\u00a0
full
valuation
\u00a0
of
\u00a0
the
\u00a0
plan
\u00a0
on
\u00a0
a
\u00a0
regular
\u00a0
basis
\u00a0
using
\u00a0
the
\u00a0
projected
\u00a0
unit
\u00a0
credit
\u00a0
method.
\u00a0
Under
\u00a0
this
\u00a0
method,
\u00a0
the
\u00a0
costs
\u00a0
of
\u00a0
providing
\u00a0
pensions
\u00a0
are
\u00a0
charged
\u00a0
to
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
so
\u00a0
as
\u00a0
to
\u00a0
spread
\u00a0
the
\u00a0
regular
costs
\u00a0
over
\u00a0
the
\u00a0
working
\u00a0
lives
\u00a0
of
\u00a0
employees.
\u00a0
KONE
\u00a0
presents
\u00a0
the
\u00a0
service
\u00a0
cost
\u00a0
relating
\u00a0
to
\u00a0
defined
\u00a0
benefit
\u00a0
obligations
\u00a0
in
\u00a0
employment
\u00a0
expenses
\u00a0
while
\u00a0
the
\u00a0
net
\u00a0
interest
\u00a0
is
\u00a0
presented
\u00a0
in
\u00a0
financing
\u00a0
expenses.
The
\u00a0
liability
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
defined
\u00a0
benefit
\u00a0
post-employment
\u00a0
plans
\u00a0
is
\u00a0
the
\u00a0
present
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
defined
\u00a0
benefit
\u00a0
obligation
\u00a0
less
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
plan
\u00a0
assets.
\u00a0
The
\u00a0
discount
\u00a0
rates
\u00a0
used
\u00a0
in
\u00a0
the
\u00a0
actuarial
calculations
\u00a0
of
\u00a0
employee
\u00a0
benefits
\u00a0
liabilities
\u00a0
are
\u00a0
adjusted
\u00a0
to
\u00a0
market
\u00a0
rates.
\u00a0
Obligations
\u00a0
to
\u00a0
pay
\u00a0
long
\u00a0
-term
\u00a0
disability
\u00a0
benefit,
\u00a0
the
\u00a0
level
\u00a0
of
\u00a0
which
\u00a0
is
\u00a0
dependent
\u00a0
on
\u00a0
the
\u00a0
length
\u00a0
of
\u00a0
service
\u00a0
of
\u00a0
the
\u00a0
employee,
\u00a0
are
measured
\u00a0
to
\u00a0
reflect
\u00a0
the
\u00a0
probability
\u00a0
that
\u00a0
payments
\u00a0
will
\u00a0
be
\u00a0
required
\u00a0
and
\u00a0
the
\u00a0
length
\u00a0
of
\u00a0
service
\u00a0
for
\u00a0
which
\u00a0
it
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
made.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_78": { "value": "
6.1
\u00a0
MANAGEMENT
\u00a0
REMUNERATION
The
\u00a0
Vice
\u00a0
Chair
\u00a0
of
\u00a0
the
\u00a0
Board,
\u00a0
Jussi
\u00a0
Herlin
\u00a0
has
\u00a0
a
\u00a0
separate
\u00a0
employment
\u00a0
contract
\u00a0
for
\u00a0
his
\u00a0
role
\u00a0
as
\u00a0
Executive
\u00a0
Vice
\u00a0
Chair
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
at
\u00a0
KONE.
\u00a0
The
\u00a0
employment-based
\u00a0
compensation
\u00a0
for
\u00a0
Jussi
\u00a0
Herlin
consists
\u00a0
of
\u00a0
a
\u00a0
base
\u00a0
salary
\u00a0
and
\u00a0
an
\u00a0
annual
\u00a0
bonus
\u00a0
decided
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
on
\u00a0
the
\u00a0
basis
\u00a0
of
\u00a0
the
\u00a0
Group\u2019s
\u00a0
financial
\u00a0
result.
\u00a0
The
\u00a0
annual
\u00a0
bonus
\u00a0
may
\u00a0
not
\u00a0
exceed
\u00a0
100
\u00a0
percent
\u00a0
of
\u00a0
the
\u00a0
recipient\u2019s
\u00a0
annual
\u00a0
base
\u00a0
salary.
In
\u00a0
2022,
\u00a0
Jussi
\u00a0
Herlin\u2019s
\u00a0
base
\u00a0
salary
\u00a0
was
\u00a0
EUR
\u00a0
125,600.
\u00a0
In
\u00a0
addition,
\u00a0
he
\u00a0
received
\u00a0
a
\u00a0
bonus
\u00a0
of
\u00a0
EUR
\u00a0
26,166,
\u00a0
which
\u00a0
was
\u00a0
earned
\u00a0
in
\u00a0
2021.
\u00a0
There
\u00a0
will
\u00a0
be
\u00a0
no
\u00a0
bonus
\u00a0
payout
\u00a0
in
\u00a0
2023
\u00a0
as
\u00a0
the
\u00a0
performance
\u00a0
criteria
for
\u00a0
2022,
\u00a0
tied
\u00a0
to
\u00a0
the
\u00a0
Group\u2019s
\u00a0
financial
\u00a0
performance,
\u00a0
were
\u00a0
not
\u00a0
met.
\u00a0
Jussi
\u00a0
Herlin\u2019s
\u00a0
holdings
\u00a0
of
\u00a0
shares
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
table
\u00a0
on
\u00a0
page
\u00a0
133.
\u00a0
The
\u00a0
Executive
\u00a0
Vice
\u00a0
Chair\u2019s
\u00a0
retirement
\u00a0
age
\u00a0
and
\u00a0
pension
are
\u00a0
determined
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
Finland\u2019s
\u00a0
Pensions
\u00a0
Act.
\u00a0
Statutory
\u00a0
pension
\u00a0
cost
\u00a0
for
\u00a0
the
\u00a0
year
\u00a0
2022
\u00a0
was
\u00a0
EUR
\u00a0
26,954.
\u00a0
No
\u00a0
separate
\u00a0
agreement
\u00a0
regarding
\u00a0
early
\u00a0
retirement
\u00a0
has
\u00a0
been
\u00a0
made.
The
\u00a0
compensation
\u00a0
for
\u00a0
the
\u00a0
President
\u00a0
and
\u00a0
CEO
\u00a0
Henrik
\u00a0
Ehrnrooth
\u00a0
consists
\u00a0
of
\u00a0
a
\u00a0
base
\u00a0
salary
\u00a0
and
\u00a0
an
\u00a0
annual
\u00a0
bonus
\u00a0
determined
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
on
\u00a0
the
\u00a0
basis
\u00a0
of
\u00a0
the
\u00a0
Corporation\u2019s
\u00a0
key
\u00a0
targets.
\u00a0
The
\u00a0
annual
bonus
\u00a0
may
\u00a0
not
\u00a0
exceed
\u00a0
150
\u00a0
percent
\u00a0
of
\u00a0
his
\u00a0
annual
\u00a0
salary.
\u00a0
In
\u00a0
2022,
\u00a0
Henrik
\u00a0
Ehrnrooth\u2019s
\u00a0
base
\u00a0
salary
\u00a0
was
\u00a0
EUR
\u00a0
750,000.
\u00a0
He
\u00a0
also
\u00a0
received
\u00a0
a
\u00a0
bonus
\u00a0
of
\u00a0
EUR
\u00a0
835,350,
\u00a0
which
\u00a0
was
\u00a0
earned
\u00a0
in
\u00a0
2021.
\u00a0
His
accrued
\u00a0
bonus
\u00a0
for
\u00a0
2022
\u00a0
totaled
\u00a0
to
\u00a0
EUR
\u00a0
465,675.
\u00a0
The
\u00a0
performance
\u00a0
criteria
\u00a0
applied
\u00a0
to
\u00a0
this
\u00a0
annual
\u00a0
short-term
\u00a0
incentive
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
financial,
\u00a0
strategic
\u00a0
and
\u00a0
individual
\u00a0
performance.
\u00a0
The
\u00a0
bonus
\u00a0
will
\u00a0
be
paid
\u00a0
in
\u00a0
2023.
\u00a0
In
\u00a0
addition,
\u00a0
Henrik
\u00a0
Ehrnrooth
\u00a0
is
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
long-term
\u00a0
incentive
\u00a0
plan
\u00a0
for
\u00a0
the
\u00a0
Group\u2019s
\u00a0
senior
\u00a0
management.
\u00a0
The
\u00a0
maximum
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
available
\u00a0
for
\u00a0
earning
\u00a0
for
\u00a0
the
\u00a0
President
\u00a0
and
\u00a0
CEO
\u00a0
for
the
\u00a0
2021
\u00a0
long
\u00a0
-term
\u00a0
incentive
\u00a0
plan
\u00a0
is
\u00a0
53,541
\u00a0
KONE
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
(gross
\u00a0
before
\u00a0
deduction
\u00a0
for
\u00a0
applicable
\u00a0
taxes).
\u00a0
The
\u00a0
final
\u00a0
outcome
\u00a0
and
\u00a0
any
\u00a0
potential
\u00a0
share
\u00a0
awards
\u00a0
under
\u00a0
the
\u00a0
long-term
\u00a0
incentive
\u00a0
plan
for
\u00a0
the
\u00a0
year
\u00a0
2021
\u00a0
will
\u00a0
be
\u00a0
confirmed
\u00a0
in
\u00a0
January
\u00a0
2024,
\u00a0
depending
\u00a0
on
\u00a0
the
\u00a0
performance
\u00a0
during
\u00a0
the
\u00a0
years
\u00a0
2021,
\u00a0
2022
\u00a0
and
\u00a0
2023.
The
\u00a0
maximum
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
available
\u00a0
for
\u00a0
earning
\u00a0
for
\u00a0
the
\u00a0
President
\u00a0
and
\u00a0
CEO
\u00a0
for
\u00a0
the
\u00a0
2022
\u00a0
long-term
\u00a0
incentive
\u00a0
plan
\u00a0
is
\u00a0
58,243
\u00a0
KONE
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
(gross
\u00a0
before
\u00a0
deduction
\u00a0
for
\u00a0
applicable
taxes).
\u00a0
The
\u00a0
final
\u00a0
outcome
\u00a0
and
\u00a0
any
\u00a0
potential
\u00a0
share
\u00a0
awards
\u00a0
under
\u00a0
the
\u00a0
share-based
\u00a0
incentive
\u00a0
plan
\u00a0
for
\u00a0
the
\u00a0
year
\u00a0
2022
\u00a0
will
\u00a0
be
\u00a0
confirmed
\u00a0
in
\u00a0
January
\u00a0
2025,
\u00a0
depending
\u00a0
on
\u00a0
the
\u00a0
performance
\u00a0
during
\u00a0
the
\u00a0
years
2022,
\u00a0
2023
\u00a0
and
\u00a0
2024.
The
\u00a0
performance
\u00a0
criteria
\u00a0
applied
\u00a0
to
\u00a0
the
\u00a0
2021
\u00a0
and
\u00a0
2022
\u00a0
performance
\u00a0
years
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
a
\u00a0
combination
\u00a0
of
\u00a0
annual
\u00a0
sales
\u00a0
growth
\u00a0
and
\u00a0
adjusted
\u00a0
EBIT
\u00a0
margin,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
improvements
\u00a0
in
sustainability.
\u00a0
The
\u00a0
sustainability
\u00a0
performance
\u00a0
condition
\u00a0
is
\u00a0
a
\u00a0
combination
\u00a0
of
\u00a0
reductions
\u00a0
in
\u00a0
carbon
\u00a0
footprint,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
diversity
\u00a0
and
\u00a0
inclusion
\u00a0
and
\u00a0
safety
\u00a0
related
\u00a0
targets.
\u00a0
Henrik
\u00a0
Ehrnrooth\u2019s
\u00a0
holdings
\u00a0
of
shares
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
table
\u00a0
on
\u00a0
page
\u00a0
133.
\u00a0
Henrik
\u00a0
Ehrnrooth\u2019s
\u00a0
retirement
\u00a0
age
\u00a0
and
\u00a0
pension
\u00a0
are
\u00a0
determined
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
Finland\u2019s
\u00a0
Pensions
\u00a0
Act.
\u00a0
Statutory
\u00a0
pension
\u00a0
cost
\u00a0
for
\u00a0
the
\u00a0
year
\u00a0
2022
was
\u00a0
EUR
\u00a0
281,558.
\u00a0
No
\u00a0
separate
\u00a0
agreement
\u00a0
regarding
\u00a0
early
\u00a0
retirement
\u00a0
has
\u00a0
been
\u00a0
made.
\u00a0
Should
\u00a0
his
\u00a0
employment
\u00a0
contract
\u00a0
be
\u00a0
terminated
\u00a0
before
\u00a0
retirement,
\u00a0
he
\u00a0
has
\u00a0
the
\u00a0
right
\u00a0
to
\u00a0
the
\u00a0
equivalent
\u00a0
of
\u00a0
18
months\u2019
\u00a0
salary,
\u00a0
which
\u00a0
includes
\u00a0
the
\u00a0
salary
\u00a0
for
\u00a0
a
\u00a0
six-month
\u00a0
term
\u00a0
of
\u00a0
notice.
\u00a0
The
\u00a0
compensation
\u00a0
for
\u00a0
the
\u00a0
members
\u00a0
of
\u00a0
the
\u00a0
Executive
\u00a0
Board
\u00a0
comprises
\u00a0
a
\u00a0
base
\u00a0
salary
\u00a0
and
\u00a0
an
\u00a0
annual
\u00a0
bonus,
\u00a0
based
\u00a0
on
\u00a0
financial
\u00a0
targets
\u00a0
and
\u00a0
strategy
\u00a0
execution,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
individual
\u00a0
performance.
The
\u00a0
bonus
\u00a0
amount
\u00a0
is
\u00a0
determined
\u00a0
by
\u00a0
the
\u00a0
Nomination
\u00a0
and
\u00a0
Compensation
\u00a0
Committee
\u00a0
and
\u00a0
may
\u00a0
not
\u00a0
exceed
\u00a0
75
\u00a0
percent
\u00a0
of
\u00a0
the
\u00a0
annual
\u00a0
salary.
\u00a0
The
\u00a0
members
\u00a0
of
\u00a0
the
\u00a0
Executive
\u00a0
Board
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
long-term
\u00a0
share-based
\u00a0
incentive
\u00a0
plan
\u00a0
for
\u00a0
senior
\u00a0
management.
\u00a0
The
\u00a0
maximum
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
available
\u00a0
for
\u00a0
earning
\u00a0
for
\u00a0
the
\u00a0
Executive
Board
\u00a0
for
\u00a0
the
\u00a0
2021
\u00a0
long-term
\u00a0
incentive
\u00a0
plan
\u00a0
is
\u00a0
233,794
\u00a0
KONE
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
(gross
\u00a0
before
\u00a0
deduction
\u00a0
for
\u00a0
applicable
\u00a0
taxes).
\u00a0
The
\u00a0
final
\u00a0
outcome
\u00a0
and
\u00a0
any
\u00a0
potential
\u00a0
share
\u00a0
awards
\u00a0
under
\u00a0
the
\u00a0
long-term
incentive
\u00a0
plan
\u00a0
for
\u00a0
the
\u00a0
year
\u00a0
2021
\u00a0
will
\u00a0
be
\u00a0
confirmed
\u00a0
in
\u00a0
January
\u00a0
2024,
\u00a0
depending
\u00a0
on
\u00a0
the
\u00a0
performance
\u00a0
during
\u00a0
the
\u00a0
years
\u00a0
2021,
\u00a0
2022
\u00a0
and
\u00a0
2023.
\u00a0
The
\u00a0
maximum
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
available
\u00a0
for
\u00a0
earning
\u00a0
for
\u00a0
the
\u00a0
Executive
\u00a0
Board
\u00a0
for
\u00a0
the
\u00a0
2022
\u00a0
long
\u00a0
-term
\u00a0
incentive
\u00a0
plan
\u00a0
is
\u00a0
285,391
\u00a0
KONE
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
(gross
\u00a0
before
\u00a0
deduction
\u00a0
for
\u00a0
applicable
taxes).
\u00a0
The
\u00a0
final
\u00a0
outcome
\u00a0
and
\u00a0
any
\u00a0
potential
\u00a0
share
\u00a0
awards
\u00a0
under
\u00a0
the
\u00a0
long-term
\u00a0
incentive
\u00a0
plan
\u00a0
for
\u00a0
the
\u00a0
year
\u00a0
2022
\u00a0
will
\u00a0
be
\u00a0
confirmed
\u00a0
in
\u00a0
January
\u00a0
2025,
\u00a0
depending
\u00a0
on
\u00a0
the
\u00a0
performance
\u00a0
during
\u00a0
the
\u00a0
years
2022,
\u00a0
2023
\u00a0
and
\u00a0
2024.
\u00a0
The
\u00a0
Executive
\u00a0
Board
\u00a0
members\u2019
\u00a0
holdings
\u00a0
of
\u00a0
shares
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
table
\u00a0
on
\u00a0
page
\u00a0
133.
\u00a0
No
\u00a0
separate
\u00a0
agreement
\u00a0
regarding
\u00a0
early
\u00a0
retirement
\u00a0
has
\u00a0
been
\u00a0
made
\u00a0
for
\u00a0
the
members
\u00a0
of
\u00a0
the
\u00a0
Executive
\u00a0
Board.
\u00a0
The
\u00a0
compensation
\u00a0
for
\u00a0
the
\u00a0
termination
\u00a0
of
\u00a0
the
\u00a0
employment
\u00a0
contract
\u00a0
prior
\u00a0
to
\u00a0
retirement
\u00a0
is
\u00a0
a
\u00a0
maximum
\u00a0
of
\u00a0
15
\u00a0
months\u2019
\u00a0
salary,
\u00a0
which
\u00a0
includes
\u00a0
the
\u00a0
salary
\u00a0
for
\u00a0
a
\u00a0
six-month
term
\u00a0
of
\u00a0
notice.
\u00a0
The
\u00a0
carrying
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
pension
\u00a0
liability
\u00a0
for
\u00a0
Board
\u00a0
Member
\u00a0
Matti
\u00a0
Alahuhta
\u00a0
(served
\u00a0
as
\u00a0
President
\u00a0
&
\u00a0
CEO
\u00a0
until
\u00a0
March
\u00a0
31,
\u00a0
2014)
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
balance
\u00a0
sheet
\u00a0
is
\u00a0
EUR
\u00a0
4.5
\u00a0
million
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
2022
and
\u00a0
the
\u00a0
monthly
\u00a0
pension
\u00a0
paid
\u00a0
by
\u00a0
KONE
\u00a0
to
\u00a0
him
\u00a0
is
\u00a0
EUR
\u00a0
23,069
\u00a0
(December
\u00a0
2022).
The
\u00a0
key
\u00a0
management
\u00a0
of
\u00a0
KONE
\u00a0
consists
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
\u00a0
KONE
\u00a0
Corporation
\u00a0
and
\u00a0
the
\u00a0
Executive
\u00a0
Board.
Compensation
\u00a0
paid
\u00a0
to
\u00a0
the
\u00a0
key
\u00a0
management,
\u00a0
MEUR
\u00a0
\u00b9
\u207e
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Salaries
\u00a0
and
\u00a0
other
\u00a0
remunerations
10.1
9.1
Share-based
\u00a0
payments
0.0
12.9
Total
10.1
22.0
Compensation
\u00a0
paid
\u00a0
to
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors,
\u00a0
the
\u00a0
President
\u00a0
and
\u00a0
CEO
\u00a0
(EUR,
thousand)
\u00a0
\u00b3
\u207e
\u00a0
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
Herlin
\u00a0
Antti,
\u00a0
Chairman
\u00a0
of
\u00a0
the
\u00a0
Board
240.0
298.1
Herlin
\u00a0
Jussi,
\u00a0
Vice
\u00a0
Chair
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
\u00b9
\u207e
125.6
107.9
Ehrnrooth
\u00a0
Henrik,
\u00a0
President
\u00a0
&
\u00a0
CEO
\u00a0
\u00b9
\u207e
750.0
750.0
Alahuhta
\u00a0
Matti
130.0
113.0
Duinhoven
\u00a0
Susan
120.0
111.0
Herlin
\u00a0
Iiris
110.0
111.0
Kant
\u00a0
Ravi
130.0
114.0
Kaskeala
\u00a0
Juhani*
-
113.0
Mikkilineni
\u00a0
Krishna
110.0
-
Xin-Zhe
\u00a0
Li
\u00a0
Jennifer
120.0
110.0
Brunila
\u00a0
Anne**
-
1.5
Pietik\u00e4inen
\u00a0
Sirpa**
-
1.0
Total
1,835.6
1,830.5
*
\u00a0
Board
\u00a0
member
\u00a0
until
\u00a0
March
\u00a0
1,2022
**
\u00a0
Board
\u00a0
member
\u00a0
until
\u00a0
March
\u00a0
2,2021
\u00b9
\u207e
\u00a0
In
\u00a0
addition,
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
year
\u00a0
2022
\u00a0
Henrik
\u00a0
Ehrnrooth\u2019s
\u00a0
accrued
\u00a0
bonus
\u00a0
was
\u00a0
EUR
\u00a0
465,675
\u00a0
(835,350),
\u00a0
which
\u00a0
is
\u00a0
payable
\u00a0
in
\u00a0
2023
\u00a0
(2022).
\u00a0
In
\u00a0
2021,
\u00a0
Jussi
\u00a0
Herlin\u2019s
\u00a0
accrued
\u00a0
bonus
\u00a0
was
\u00a0
EUR
\u00a0
26,166
\u00a0
and
\u00a0
Antti
\u00a0
Herlin
\u00a0
was
\u00a0
paid
\u00a0
EUR
\u00a0
74,600
\u00a0
in
\u00a0
base
\u00a0
salary
\u00a0
and
\u00a0
a
bonus
\u00a0
totaling
\u00a0
EUR
\u00a0
290,462
\u00a0
which
\u00a0
was
\u00a0
earned
\u00a0
in
\u00a0
2020.
\u00a0
In
\u00a0
April
\u00a0
2021,
\u00a0
the
\u00a0
share
\u00a0
-based
\u00a0
payments
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
year
\u00a0
2020
\u00a0
received
\u00a0
by
\u00a0
Henrik
\u00a0
Ehrnrooth
\u00a0
was
\u00a0
EUR
\u00a0
2,512,242
\u00a0
\u00b2\u207e
\u00a0
Includes
\u00a0
also
\u00a0
the
\u00a0
annual
\u00a0
compensation
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
which
\u00a0
was
\u00a0
performed
\u00a0
by
\u00a0
using
\u00a0
shares
\u00a0
of
\u00a0
KONE
\u00a0
Corporation
\u00a0
decided
\u00a0
by
\u00a0
the
\u00a0
Annual
\u00a0
General
\u00a0
Meeting
\u00a0
held
\u00a0
on
\u00a0
March
\u00a0
1,
\u00a0
2022.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_84": { "value": "
6.2
\u00a0
SHARE-BASED
\u00a0
PAYMENTS
SHARE
\u00a0
BASED
\u00a0
INCENTIVE
\u00a0
PLANS
KONE
\u00a0
has
\u00a0
two
\u00a0
separate
\u00a0
share-based
\u00a0
incentive
\u00a0
plans,
\u00a0
one
\u00a0
performance
\u00a0
share
\u00a0
plan
\u00a0
and
\u00a0
one
\u00a0
restricted
\u00a0
share
\u00a0
plan.
\u00a0
In
\u00a0
January
\u00a0
2021,
\u00a0
KONE\u2019s
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
decided
\u00a0
on
\u00a0
a
\u00a0
new
\u00a0
long
\u00a0
-term
\u00a0
share-based
\u00a0
incentive
\u00a0
plan,
\u00a0
which
\u00a0
replaced
\u00a0
the
\u00a0
existing
\u00a0
share-based
\u00a0
plans.
\u00a0
The
\u00a0
new
\u00a0
long-term
\u00a0
incentive
\u00a0
plan
\u00a0
continues
to
\u00a0
emphasize
\u00a0
profitable
\u00a0
growth
\u00a0
and
\u00a0
as
\u00a0
a
\u00a0
new
\u00a0
measure
\u00a0
sustainability.
\u00a0
It
\u00a0
consists
\u00a0
of
\u00a0
annually
\u00a0
commencing
\u00a0
individual
\u00a0
share
\u00a0
plans,
\u00a0
each
\u00a0
with
\u00a0
a
\u00a0
three-year
\u00a0
rolling
\u00a0
performance
\u00a0
period.
\u00a0
The
\u00a0
plans
\u00a0
vest
and
\u00a0
are
\u00a0
delivered
\u00a0
in
\u00a0
one
\u00a0
portion
\u00a0
after
\u00a0
the
\u00a0
three
\u00a0
years,
\u00a0
based
\u00a0
on
\u00a0
accumulated
\u00a0
outcomes
\u00a0
for
\u00a0
the
\u00a0
three-year
\u00a0
performance
\u00a0
period.
\u00a0
No
\u00a0
shares
\u00a0
are
\u00a0
delivered
\u00a0
in
\u00a0
2022
\u00a0
and
\u00a0
2023.
\u00a0
If
\u00a0
the
\u00a0
participant's
employment
\u00a0
or
\u00a0
service
\u00a0
relationship
\u00a0
with
\u00a0
KONE
\u00a0
Group
\u00a0
terminates
\u00a0
before
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
performance
\u00a0
period,
\u00a0
the
\u00a0
participant,
\u00a0
as
\u00a0
a
\u00a0
rule,
\u00a0
forfeits
\u00a0
the
\u00a0
share
\u00a0
award
\u00a0
without
\u00a0
compensation.
\u00a0
The
\u00a0
number
\u00a0
of
shares
\u00a0
earned
\u00a0
by
\u00a0
participants
\u00a0
under
\u00a0
the
\u00a0
share-based
\u00a0
incentive
\u00a0
plans
\u00a0
are
\u00a0
determined
\u00a0
on
\u00a0
gross
\u00a0
basis
\u00a0
with
\u00a0
deduction
\u00a0
for
\u00a0
taxes
\u00a0
made
\u00a0
when
\u00a0
applicable
\u00a0
before
\u00a0
delivery
\u00a0
of
\u00a0
the
\u00a0
shares
\u00a0
to
\u00a0
the
\u00a0
participants.
The
\u00a0
arrangements
\u00a0
initiated
\u00a0
previous
\u00a0
years
\u00a0
included
\u00a0
both
\u00a0
cash
\u00a0
and
\u00a0
equity
\u00a0
settled
\u00a0
arrangements.
\u00a0
Current
\u00a0
arrangements
\u00a0
are
\u00a0
equity
\u00a0
settled
\u00a0
only.
The
\u00a0
target
\u00a0
group
\u00a0
and
\u00a0
targets
\u00a0
within
\u00a0
the
\u00a0
plan
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
possible
\u00a0
rewards
\u00a0
are
\u00a0
decided
\u00a0
upon
\u00a0
annually
\u00a0
by
\u00a0
the
\u00a0
Board.
\u00a0
As
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
long-term
\u00a0
share-based
\u00a0
incentive
\u00a0
plan
\u00a0
for
\u00a0
the
\u00a0
senior
\u00a0
management,
a
\u00a0
long-term
\u00a0
target
\u00a0
for
\u00a0
their
\u00a0
ownership
\u00a0
has
\u00a0
been
\u00a0
set.
\u00a0
For
\u00a0
the
\u00a0
Executive
\u00a0
Board
\u00a0
members,
\u00a0
the
\u00a0
long-term
\u00a0
ownership
\u00a0
target
\u00a0
is
\u00a0
that
\u00a0
the
\u00a0
members
\u00a0
have
\u00a0
an
\u00a0
ownership
\u00a0
of
\u00a0
KONE
\u00a0
shares
\u00a0
corresponding
\u00a0
to
\u00a0
at
least
\u00a0
five
\u00a0
years\u2019
\u00a0
annual
\u00a0
base
\u00a0
salary.
\u00a0
For
\u00a0
other
\u00a0
selected
\u00a0
top
\u00a0
management
\u00a0
positions,
\u00a0
the
\u00a0
ownership
\u00a0
target
\u00a0
is
\u00a0
at
\u00a0
least
\u00a0
two
\u00a0
years\u2019
\u00a0
base
\u00a0
salary.
\u00a0
The
\u00a0
2022
\u00a0
long
\u00a0
-term
\u00a0
incentive
\u00a0
plan
\u00a0
is
\u00a0
targeted
\u00a0
to
\u00a0
approximately
\u00a0
55
\u00a0
members
\u00a0
of
\u00a0
top
\u00a0
management,
\u00a0
including
\u00a0
the
\u00a0
President
\u00a0
and
\u00a0
CEO,
\u00a0
members
\u00a0
of
\u00a0
the
\u00a0
Executive
\u00a0
Board
\u00a0
and
\u00a0
other
\u00a0
top
\u00a0
management
as
\u00a0
well
\u00a0
as
\u00a0
to
\u00a0
525
\u00a0
other
\u00a0
selected
\u00a0
key
\u00a0
personnel
\u00a0
of
\u00a0
KONE
\u00a0
Group.
\u00a0
The
\u00a0
performance
\u00a0
criteria
\u00a0
applied
\u00a0
to
\u00a0
the
\u00a0
2022
\u00a0
long-term
\u00a0
incentive
\u00a0
plan
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
annual
\u00a0
growth
\u00a0
in
\u00a0
sales,
\u00a0
adjusted
\u00a0
EBIT
\u00a0
margin
and
\u00a0
improvements
\u00a0
in
\u00a0
sustainability.
\u00a0
The
\u00a0
sustainability
\u00a0
performance
\u00a0
condition
\u00a0
is
\u00a0
a
\u00a0
combination
\u00a0
of
\u00a0
reductions
\u00a0
in
\u00a0
carbon
\u00a0
footprint,
\u00a0
diversity
\u00a0
and
\u00a0
inclusion
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
safety
\u00a0
related
\u00a0
targets.
\u00a0
The
\u00a0
restricted
\u00a0
share
\u00a0
plan
\u00a0
serves
\u00a0
as
\u00a0
a
\u00a0
complementary
\u00a0
long-term
\u00a0
share
\u00a0
plan
\u00a0
to
\u00a0
be
\u00a0
used
\u00a0
as
\u00a0
a
\u00a0
commitment
\u00a0
instrument
\u00a0
for
\u00a0
retention
\u00a0
and
\u00a0
recruitment
\u00a0
purposes
\u00a0
for
\u00a0
top
\u00a0
management
\u00a0
(excluding
\u00a0
the
President
\u00a0
and
\u00a0
CEO)
\u00a0
and
\u00a0
other
\u00a0
selected
\u00a0
key
\u00a0
persons.
\u00a0
The
\u00a0
restricted
\u00a0
share
\u00a0
plan
\u00a0
does
\u00a0
not
\u00a0
have
\u00a0
a
\u00a0
performance
\u00a0
condition.
\u00a0
The
\u00a0
plan
\u00a0
has
\u00a0
a
\u00a0
commitment
\u00a0
period
\u00a0
up
\u00a0
to
\u00a0
three
\u00a0
years,
\u00a0
after
\u00a0
which
\u00a0
the
potentially
\u00a0
granted
\u00a0
share
\u00a0
awards
\u00a0
will
\u00a0
be
\u00a0
paid
\u00a0
to
\u00a0
the
\u00a0
participant,
\u00a0
provided
\u00a0
that
\u00a0
their
\u00a0
employment
\u00a0
or
\u00a0
service
\u00a0
relationship
\u00a0
with
\u00a0
KONE
\u00a0
Group
\u00a0
is
\u00a0
in
\u00a0
force
\u00a0
at
\u00a0
the
\u00a0
time
\u00a0
of
\u00a0
payment.
The
\u00a0
maximum
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
to
\u00a0
be
\u00a0
delivered
\u00a0
in
\u00a0
the
\u00a0
first
\u00a0
quarter
\u00a0
of
\u00a0
2025
\u00a0
as
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
2022
\u00a0
long-term
\u00a0
incentive
\u00a0
plan
\u00a0
is
\u00a0
788,768
\u00a0
KONE
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
performance
\u00a0
period
\u00a0
2022\u2013
2024,
\u00a0
reduced
\u00a0
by
\u00a0
an
\u00a0
amount
\u00a0
of
\u00a0
shares
\u00a0
equivalent
\u00a0
to
\u00a0
the
\u00a0
taxes
\u00a0
and
\u00a0
similar
\u00a0
charges
\u00a0
that
\u00a0
are
\u00a0
incurred
\u00a0
by
\u00a0
the
\u00a0
receipt
\u00a0
of
\u00a0
shares.
As
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
restricted
\u00a0
share
\u00a0
plan,
\u00a0
the
\u00a0
maximum
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
granted
\u00a0
in
\u00a0
2022
\u00a0
and
\u00a0
to
\u00a0
be
\u00a0
delivered
\u00a0
in
\u00a0
2024
\u00a0
is
\u00a0
2,350
\u00a0
KONE
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
(gross
\u00a0
before
\u00a0
deduction
\u00a0
for
\u00a0
applicable
\u00a0
taxes)
\u00a0
and
53,300
\u00a0
KONE
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
(gross
\u00a0
before
\u00a0
deduction
\u00a0
for
\u00a0
applicable
\u00a0
taxes)
\u00a0
to
\u00a0
be
\u00a0
delivered
\u00a0
in
\u00a0
2025.
As
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
previous
\u00a0
long-term
\u00a0
incentive
\u00a0
plan
\u00a0
a
\u00a0
total
\u00a0
of
\u00a0
218,091
\u00a0
KONE
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
were
\u00a0
delivered
\u00a0
in
\u00a0
January
\u00a0
2022
\u00a0
to
\u00a0
KONE
\u00a0
Key
\u00a0
personnel
\u00a0
as
\u00a0
a
\u00a0
reward
\u00a0
due
\u00a0
to
\u00a0
the
\u00a0
achieved
\u00a0
targets
\u00a0
of
\u00a0
the
2019
\u00a0
long
\u00a0
-term
\u00a0
incentive
\u00a0
plan.
\u00a0
During
\u00a0
the
\u00a0
year
\u00a0
2022
\u00a0
a
\u00a0
total
\u00a0
of
\u00a0
15,370
\u00a0
KONE
\u00a0
class
\u00a0
B
\u00a0
shares,
\u00a0
based
\u00a0
on
\u00a0
previous
\u00a0
long-term
\u00a0
incentive
\u00a0
plans
\u00a0
were
\u00a0
returned
\u00a0
to
\u00a0
KONE
\u00a0
Corporation.
Accounting
\u00a0
principles
Share-based
\u00a0
payments
KONE
\u00a0
share
\u00a0
-based
\u00a0
incentive
\u00a0
plans
\u00a0
are
\u00a0
targeted
\u00a0
to
\u00a0
the
\u00a0
senior
\u00a0
management
\u00a0
of
\u00a0
KONE
\u00a0
and
\u00a0
other
\u00a0
key
\u00a0
personnel.
\u00a0
Pursuant
\u00a0
to
\u00a0
the
\u00a0
plan
\u00a0
rules,
\u00a0
the
\u00a0
potential
\u00a0
awards
\u00a0
are
\u00a0
settled
\u00a0
as
\u00a0
a
\u00a0
combination
\u00a0
of
\u00a0
KONE
class
\u00a0
B
\u00a0
shares
\u00a0
and/or
\u00a0
cash
\u00a0
when
\u00a0
the
\u00a0
criteria
\u00a0
set
\u00a0
in
\u00a0
the
\u00a0
terms
\u00a0
and
\u00a0
conditions
\u00a0
for
\u00a0
the
\u00a0
plan
\u00a0
are
\u00a0
met.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
share-based
\u00a0
payments
\u00a0
settled
\u00a0
with
\u00a0
KONE
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
has
\u00a0
been
\u00a0
determined
at
\u00a0
the
\u00a0
grant
\u00a0
date
\u00a0
and
\u00a0
will
\u00a0
be
\u00a0
recognized
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
over
\u00a0
the
\u00a0
vesting
\u00a0
period.
\u00a0
The
\u00a0
total
\u00a0
amount
\u00a0
to
\u00a0
be
\u00a0
expensed
\u00a0
over
\u00a0
the
\u00a0
vesting
\u00a0
period
\u00a0
is
\u00a0
determined
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
Group\u2019s
\u00a0
estimate
\u00a0
of
\u00a0
the
\u00a0
number
of
\u00a0
the
\u00a0
shares
\u00a0
that
\u00a0
are
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
vested
\u00a0
by
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
vesting
\u00a0
period.
\u00a0
The
\u00a0
impact
\u00a0
of
\u00a0
any
\u00a0
non-market
\u00a0
vesting
\u00a0
conditions
\u00a0
have
\u00a0
been
\u00a0
excluded,
\u00a0
but
\u00a0
they
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
assumptions
\u00a0
about
\u00a0
the
number
\u00a0
of
\u00a0
shares
\u00a0
that
\u00a0
are
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
distributed.
\u00a0
At
\u00a0
each
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
date,
\u00a0
the
\u00a0
Group
\u00a0
revises
\u00a0
its
\u00a0
estimates
\u00a0
of
\u00a0
the
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
that
\u00a0
are
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
distributed.
\u00a0
It
recognizes
\u00a0
the
\u00a0
impact
\u00a0
of
\u00a0
the
\u00a0
revision
\u00a0
of
\u00a0
original
\u00a0
estimates
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
cash
\u00a0
settled
\u00a0
part
\u00a0
of
\u00a0
share-based
\u00a0
payments
\u00a0
reward
\u00a0
has
\u00a0
been
\u00a0
determined
\u00a0
so
\u00a0
that
\u00a0
it
\u00a0
covers
taxes
\u00a0
and
\u00a0
taxable
\u00a0
benefit
\u00a0
costs
\u00a0
that
\u00a0
are
\u00a0
incurred.
\u00a0
The
\u00a0
liability
\u00a0
shall
\u00a0
be
\u00a0
measured,
\u00a0
initially
\u00a0
and
\u00a0
at
\u00a0
each
\u00a0
reporting
\u00a0
date
\u00a0
until
\u00a0
settled,
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
shares
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
distributed
\u00a0
and
expensed
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
extent
\u00a0
to
\u00a0
which
\u00a0
the
\u00a0
employees
\u00a0
have
\u00a0
rendered
\u00a0
service
\u00a0
to
\u00a0
date.
\u00a0
KONE
\u00a0
recognizes
\u00a0
the
\u00a0
impact
\u00a0
of
\u00a0
the
\u00a0
revision
\u00a0
of
\u00a0
original
\u00a0
estimates,
\u00a0
if
\u00a0
any,
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
Share-based
\u00a0
incentive
\u00a0
plan
Share-based
\u00a0
payments
\u00a0
recognized
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
in
\u00a0
the
\u00a0
statements
\u00a0
of
\u00a0
income,
MEUR
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2022
Jan
\u00a0
1\u2013Dec
\u00a0
31,
\u00a0
2021
To
\u00a0
be
\u00a0
paid
\u00a0
in
\u00a0
shares
18.8
28.0
To
\u00a0
be
\u00a0
paid
\u00a0
in
\u00a0
cash
3.8
11.4
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_79": { "value": "
Accounting
\u00a0
principles
Share-based
\u00a0
payments
KONE
\u00a0
share
\u00a0
-based
\u00a0
incentive
\u00a0
plans
\u00a0
are
\u00a0
targeted
\u00a0
to
\u00a0
the
\u00a0
senior
\u00a0
management
\u00a0
of
\u00a0
KONE
\u00a0
and
\u00a0
other
\u00a0
key
\u00a0
personnel.
\u00a0
Pursuant
\u00a0
to
\u00a0
the
\u00a0
plan
\u00a0
rules,
\u00a0
the
\u00a0
potential
\u00a0
awards
\u00a0
are
\u00a0
settled
\u00a0
as
\u00a0
a
\u00a0
combination
\u00a0
of
\u00a0
KONE
class
\u00a0
B
\u00a0
shares
\u00a0
and/or
\u00a0
cash
\u00a0
when
\u00a0
the
\u00a0
criteria
\u00a0
set
\u00a0
in
\u00a0
the
\u00a0
terms
\u00a0
and
\u00a0
conditions
\u00a0
for
\u00a0
the
\u00a0
plan
\u00a0
are
\u00a0
met.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
share-based
\u00a0
payments
\u00a0
settled
\u00a0
with
\u00a0
KONE
\u00a0
class
\u00a0
B
\u00a0
shares
\u00a0
has
\u00a0
been
\u00a0
determined
at
\u00a0
the
\u00a0
grant
\u00a0
date
\u00a0
and
\u00a0
will
\u00a0
be
\u00a0
recognized
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
over
\u00a0
the
\u00a0
vesting
\u00a0
period.
\u00a0
The
\u00a0
total
\u00a0
amount
\u00a0
to
\u00a0
be
\u00a0
expensed
\u00a0
over
\u00a0
the
\u00a0
vesting
\u00a0
period
\u00a0
is
\u00a0
determined
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
Group\u2019s
\u00a0
estimate
\u00a0
of
\u00a0
the
\u00a0
number
of
\u00a0
the
\u00a0
shares
\u00a0
that
\u00a0
are
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
vested
\u00a0
by
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
vesting
\u00a0
period.
\u00a0
The
\u00a0
impact
\u00a0
of
\u00a0
any
\u00a0
non-market
\u00a0
vesting
\u00a0
conditions
\u00a0
have
\u00a0
been
\u00a0
excluded,
\u00a0
but
\u00a0
they
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
assumptions
\u00a0
about
\u00a0
the
number
\u00a0
of
\u00a0
shares
\u00a0
that
\u00a0
are
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
distributed.
\u00a0
At
\u00a0
each
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
date,
\u00a0
the
\u00a0
Group
\u00a0
revises
\u00a0
its
\u00a0
estimates
\u00a0
of
\u00a0
the
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
that
\u00a0
are
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
distributed.
\u00a0
It
recognizes
\u00a0
the
\u00a0
impact
\u00a0
of
\u00a0
the
\u00a0
revision
\u00a0
of
\u00a0
original
\u00a0
estimates
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
cash
\u00a0
settled
\u00a0
part
\u00a0
of
\u00a0
share-based
\u00a0
payments
\u00a0
reward
\u00a0
has
\u00a0
been
\u00a0
determined
\u00a0
so
\u00a0
that
\u00a0
it
\u00a0
covers
taxes
\u00a0
and
\u00a0
taxable
\u00a0
benefit
\u00a0
costs
\u00a0
that
\u00a0
are
\u00a0
incurred.
\u00a0
The
\u00a0
liability
\u00a0
shall
\u00a0
be
\u00a0
measured,
\u00a0
initially
\u00a0
and
\u00a0
at
\u00a0
each
\u00a0
reporting
\u00a0
date
\u00a0
until
\u00a0
settled,
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
shares
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
distributed
\u00a0
and
expensed
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
extent
\u00a0
to
\u00a0
which
\u00a0
the
\u00a0
employees
\u00a0
have
\u00a0
rendered
\u00a0
service
\u00a0
to
\u00a0
date.
\u00a0
KONE
\u00a0
recognizes
\u00a0
the
\u00a0
impact
\u00a0
of
\u00a0
the
\u00a0
revision
\u00a0
of
\u00a0
original
\u00a0
estimates,
\u00a0
if
\u00a0
any,
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_76": { "value": "
6.3
\u00a0
RELATED
\u00a0
PARTY
\u00a0
TRANSACTIONS
KONE\u2019s
\u00a0
related
\u00a0
parties
\u00a0
comprise
\u00a0
its
\u00a0
subsidiaries
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors,
\u00a0
the
\u00a0
President
\u00a0
&
\u00a0
CEO,
\u00a0
and
\u00a0
the
\u00a0
Executive
\u00a0
Board
\u00a0
including
\u00a0
any
\u00a0
companies
\u00a0
controlled
\u00a0
or
\u00a0
significantly
\u00a0
influenced
\u00a0
by
them.
\u00a0
The
\u00a0
Corporate
\u00a0
Controlling
\u00a0
function
\u00a0
evaluates
\u00a0
and
\u00a0
monitors
\u00a0
transactions
\u00a0
between
\u00a0
the
\u00a0
Group
\u00a0
and
\u00a0
its
\u00a0
related
\u00a0
parties
\u00a0
to
\u00a0
ensure
\u00a0
that
\u00a0
any
\u00a0
conflicts
\u00a0
of
\u00a0
interest
\u00a0
are
\u00a0
taken
\u00a0
into
\u00a0
account
\u00a0
appropriately
\u00a0
in
KONE\u2019s
\u00a0
decision
\u00a0
making
\u00a0
process.
Except
\u00a0
for
\u00a0
management
\u00a0
remuneration
\u00a0
there
\u00a0
have
\u00a0
not
\u00a0
been
\u00a0
any
\u00a0
material
\u00a0
transactions
\u00a0
between
\u00a0
KONE
\u00a0
and
\u00a0
its
\u00a0
members
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors,
\u00a0
the
\u00a0
President
\u00a0
&
\u00a0
CEO,
\u00a0
the
\u00a0
Executive
\u00a0
Board
including
\u00a0
any
\u00a0
companies
\u00a0
controlled
\u00a0
or
\u00a0
significantly
\u00a0
influenced
\u00a0
by
\u00a0
them.
\u00a0
Information
\u00a0
concerning
\u00a0
management
\u00a0
remuneration
\u00a0
is
\u00a0
disclosed
\u00a0
in
\u00a0
note
\u00a0
6.1
\u00a0
and
\u00a0
shares
\u00a0
held
\u00a0
by
\u00a0
the
\u00a0
members
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
of
Directors,
\u00a0
the
\u00a0
President
\u00a0
&
\u00a0
CEO,
\u00a0
the
\u00a0
Executive
\u00a0
Board
\u00a0
is
\u00a0
disclosed
\u00a0
on
\u00a0
page
\u00a0
133.
\u00a0
KONE\u2019s
\u00a0
subsidiaries
\u00a0
are
\u00a0
disclosed
\u00a0
on
\u00a0
pages
\u00a0
119
\u00a0
\u2013121.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_89": { "value": "
SUBSIDIARIES
SUBSIDIARIES,
\u00a0
DEC
\u00a0
31,2022
1)
Shareholding
\u00a0
%
Country/Region
Company
Group
Parent
company
Andorra
KONE
\u00a0
Ascensors
\u00a0
i
\u00a0
Escales,
\u00a0
S.A.
100
Australia
KONE
\u00a0
Elevators
\u00a0
Employee
\u00a0
Benefits
\u00a0
Pty
\u00a0
Limited
100
KONE
\u00a0
Elevators
\u00a0
Pty
\u00a0
Limited
100
KONE
\u00a0
Holdings
\u00a0
(Australia)
\u00a0
Limited
100
Austria
KONE
\u00a0
AG
100
100
Bahrain
KONE
\u00a0
Bahrain
\u00a0
W.L.L.
0
KONE
\u00a0
Elevators
\u00a0
W.L.L.
49
Belgium
KONE
\u00a0
Belgium
\u00a0
S.A.
100
99.99
Bosnia
\u00a0
and
Herzegovina
KONE
\u00a0
d.o.o.
\u00a0
Sarajevo
100
Bulgaria
KONE
\u00a0
EOOD
100
100
Liftkom
\u00a0
Service
\u00a0
EOOD
100
Canada
KONE
\u00a0
Inc.
100
49
China
\u00a0
mainland
Giant
\u00a0
Kone
\u00a0
Elevator
\u00a0
Co.,
\u00a0
Ltd.
100
40
KONE
\u00a0
Elevator
\u00a0
(Shanghai)
\u00a0
Co.,
\u00a0
Ltd.
100
KONE
\u00a0
Elevators
\u00a0
Co.,
\u00a0
Ltd.
100
Kunshan
\u00a0
KONE
\u00a0
Industrial
\u00a0
Machinery
\u00a0
Co.,
\u00a0
Ltd.
100
100
Croatia
KONE
\u00a0
d.o.o.
100
100
Cyprus
KONE
\u00a0
Elevators
\u00a0
Cyprus
\u00a0
Limited
100
100
Czech
\u00a0
Republic
KONE,
\u00a0
a.s.
100
100
KONE
\u00a0
Industrial
\u00a0
\u2013
\u00a0
koncern
\u00a0
s.r.o.
100
100
Denmark
KONE
\u00a0
A/S
100
100
Egypt
KONE
\u00a0
LLC
100
Estonia
AS
\u00a0
KONE
100
100
Finland
Finescal
\u00a0
Oy
100
100
KONE
\u00a0
Digital
\u00a0
Services
\u00a0
Oy
100
100
Shareholding
\u00a0
%
Country/Region
Company
Group
Parent
company
KONE
\u00a0
Export
\u00a0
Oy
100
KONE
\u00a0
Hissit
\u00a0
Oy
100
100
KONE
\u00a0
Industrial
\u00a0
Oy
100
100
Liftdev
\u00a0
Oy
100
100
France
2STP
\u00a0
S.A.S.
100
Arcade
\u00a0
Ascenseurs
\u00a0
S.A.S
100
Ascenseurs
\u00a0
et
\u00a0
Automatismes
\u00a0
de
\u00a0
Gascogne
\u00a0
S.A.S.
100
Ascenseurs
\u00a0
Portes
\u00a0
Automatiques
\u00a0
Arnaud
\u00a0
S.A.S.
100
Ascenseurs
\u00a0
Soulier
\u00a0
S.N.C.
100
ATS
\u00a0
-ATPE
\u00a0
S.A.S.
100
Automatismes
\u00a0
du
\u00a0
Mont
\u00a0
Blanc
\u00a0
S.A.S.
100
Delta
\u00a0
Ascenseurs
\u00a0
S.A.S.
100
KONE
\u00a0
ATS
\u00a0
S.A.S.
100
KONE
\u00a0
D\u00e9veloppement
\u00a0
S.N.C.
100
KONE
\u00a0
Holding
\u00a0
France
\u00a0
S.A.S.
100
100
KONE
\u00a0
S.A.
99.99
Liftman
\u00a0
S.A.S.
100
Prokodis
\u00a0
S.A.S.
100
R.M.D.
\u00a0
S.A.S.
100
Technique
\u00a0
&
\u00a0
Mecanique
\u00a0
des
\u00a0
Elevateurs
\u00a0
S.A.S.
100
Germany
Alois
\u00a0
Kasper
\u00a0
GmbH
100
Aufzugstechnik
\u00a0
Rhein
\u00a0
Ruhr
\u00a0
GmbH
100
KONE
\u00a0
Automatikt\u00fcren
\u00a0
GmbH
100
KONE
\u00a0
Escalator
\u00a0
Supply
\u00a0
Service
\u00a0
Center
\u00a0
Europe
GmbH
100
KONE
\u00a0
Garant
\u00a0
Aufzug
\u00a0
GmbH
100
KONE
\u00a0
GmbH
100
Shareholding
\u00a0
%
Country/Region
Company
Group
Parent
company
KONE
\u00a0
Montage
\u00a0
GmbH
100
KONE
\u00a0
Servicezentrale
\u00a0
GmbH
100
SK-F\u00f6rdertechnik
\u00a0
GmbH
100
Greece
KONE
\u00a0
S.A.
100
Hong
\u00a0
Kong
\u00a0
SAR
Ben
\u00a0
Fung
\u00a0
Machineries
\u00a0
&
\u00a0
Engineering
\u00a0
Limited
100
0.1
KONE
\u00a0
Elevator
\u00a0
(HK)
\u00a0
Limited
100
Shan
\u00a0
On
\u00a0
Engineering
\u00a0
Company
\u00a0
Limited
100
Hungary
KONE
\u00a0
Felvon\u00f3
\u00a0
Kft.
100
100
Iceland
KONE
\u00a0
ehf
100
100
India
KONE
\u00a0
Elevator
\u00a0
India
\u00a0
Private
\u00a0
Limited
100
99.99
Indonesia
PT
\u00a0
KONE
\u00a0
Indo
\u00a0
Elevator
100
1.04
PT.
\u00a0
Mitra
\u00a0
Indo
\u00a0
Utama
0
Ireland
Ennis
\u00a0
Lifts
\u00a0
Limited
100
KONE
\u00a0
(Ireland)
\u00a0
Limited
100
Israel
KONE
\u00a0
LTD
100
100
Italy
Ascensori
\u00a0
&
\u00a0
Ascensori
\u00a0
S.r.l.
64
Cerqueti
\u00a0
Servizi
\u00a0
S.r.l.
100
Cofam
\u00a0
S.r.l.
100
CRON.UP
\u00a0
S.r.l.
80
Elevant
\u00a0
Servizi
\u00a0
S.r.l.
70
Elevatori
\u00a0
Bari
\u00a0
S.r.l.
89
Elevators
\u00a0
S.r.l.
60
Ferrara
\u00a0
Ascensori
\u00a0
S.r.l.
60
Gianfranceschi
\u00a0
Ascensori
\u00a0
S.r.l.
97
GSB
\u00a0
Ascensori
\u00a0
S.r.l.
65
IMAL
\u00a0
ascensori
\u00a0
S.r.l.
100
KONE
\u00a0
Industrial
\u00a0
S.p.A.
100
100
KONE
\u00a0
S.p.A.
100
26.86
L.A.M.
\u00a0
Lombarda
\u00a0
Ascensori
\u00a0
Montacarichi
\u00a0
S.r.l.
70
Mingot
\u00a0
S.r.l.
100
Moraglia
\u00a0
ascensori
\u00a0
S.r.l.
100
Shareholding
\u00a0
%
Country/Region
Company
Group
Parent
company
Nettuno
\u00a0
S.r.l.
75
Neulift
\u00a0
S.p.A.
100
Neulift
\u00a0
Service
\u00a0
Molise
\u00a0
S.r.l.
51
Neulift
\u00a0
Service
\u00a0
Triveneto
\u00a0
S.r.l.
100
Rimma
\u00a0
S.r.l.
60
Slimpa
\u00a0
S.p.A.
100
Tecnocram
\u00a0
S.r.l.
84
Tosca
\u00a0
Ascensori
\u00a0
S.r.l.
66.67
Unilift
\u00a0
S.r.l.
78.54
Kazakhstan
KONE
\u00a0
Kazakhstan
\u00a0
LLP
100
Kenya
KONE
\u00a0
Kenya
\u00a0
Limited
49
Latvia
SIA
\u00a0
KONE
\u00a0
Lifti
\u00a0
Latvija
100
0.5
Lithuania
UAB
\u00a0
KONE
100
100
Luxembourg
KONE
\u00a0
Luxembourg
\u00a0
S\u00e0rl
100
Macedonia
KONE
\u00a0
Makedonija
\u00a0
Dooel
\u00a0
Skopje
100
Malaysia
KONE
\u00a0
Elevator
\u00a0
(M)
\u00a0
Sdn.
\u00a0
Bhd.
29.88
29.88
Mexico
KONE
\u00a0
Industrial,
\u00a0
S.A.
\u00a0
de
\u00a0
C.V.
100
KONE
\u00a0
Mexico,
\u00a0
S.A.
\u00a0
de
\u00a0
C.V.
100
0.1
Monaco
S.A.M.
\u00a0
KONE
99.87
Montenegro
KONE
\u00a0
d.o.o.
\u00a0
Podgorica
100
Morocco
KONE
\u00a0
Elevators
\u00a0
and
\u00a0
Escalators
\u00a0
S\u00e0rl
\u00a0
AU
100
100
Netherlands
Hissi
\u00a0
B.V.
100
KONE
\u00a0
B.V.
100
KONE
\u00a0
Deursystemen
\u00a0
B.V.
100
KONE
\u00a0
Finance
\u00a0
Holding
\u00a0
B.V.
100
KONE
\u00a0
Holland
\u00a0
B.V.
100
100
KONE
\u00a0
Nederland
\u00a0
Holding
\u00a0
B.V.
100
Norway
KONE
\u00a0
Aksjeselskap
100
100
KONE
\u00a0
Rulletrapper
\u00a0
AS
100
100
Oman
KONE
\u00a0
Assarain
\u00a0
LLC
70
Philippines
Elevators
\u00a0
Philippines
\u00a0
Construction,
\u00a0
Inc.
39.80
Shareholding
\u00a0
%
Country/Region
Company
Group
Parent
company
KPI
\u00a0
Elevators,
\u00a0
Inc.
99.99
Poland
KONE
\u00a0
Sp.z
\u00a0
o.o.
100
100
Portugal
KONE
\u00a0
Portugal
\u00a0
-
\u00a0
Elevadores,
\u00a0
Lda.
100
1
Qatar
KONE
\u00a0
Elevators
\u00a0
W.L.L.
49
49
Romania
KONE
\u00a0
Ascensorul
\u00a0
S.A.
100
99.99
Russia
LiftConnect
\u00a0
JSC
100
100
Saudi
\u00a0
Arabia
KONE
\u00a0
Areeco
\u00a0
Limited
50
10
Serbia
KONE
\u00a0
d.o.o.
\u00a0
Beograd-Novi
\u00a0
Beograd
100
Singapore
KONE
\u00a0
Pte
\u00a0
Ltd
100
Slovak
\u00a0
Republic
KONE
\u00a0
Business
\u00a0
Services,
\u00a0
s.r.o.
100
100
KONE
\u00a0
s.r.o.
100
100
Slovenia
KONE
\u00a0
d.o.o.
100
100
South
\u00a0
Africa
Addo
\u00a0
Private
\u00a0
Equity
\u00a0
Fund
\u00a0
2
\u00a0
(Pty)
\u00a0
Ltd
100
KONE
\u00a0
Elevators
\u00a0
South
\u00a0
Africa
\u00a0
(Pty)
\u00a0
Ltd
100
United
\u00a0
Elevators
\u00a0
(Pty)
\u00a0
Ltd
100
Spain
Ascensores
\u00a0
Muguerza,
\u00a0
S.A.U.
100
Ascensores
\u00a0
Costa-Lift,
\u00a0
S.L.
100
KONE
\u00a0
Elevadores,
\u00a0
S.A.
100
99.99
T\u00e9cnicas
\u00a0
Autocontrol,
\u00a0
S.L.U.
\u00a0
100
Sweden
KONE
\u00a0
AB
100
Switzerland
KONE
\u00a0
(Schweiz)
\u00a0
AG
100
100
Taiwan,
\u00a0
China
Kang-En
\u00a0
Taiwan
\u00a0
Elevator
\u00a0
Technology
\u00a0
Service
\u00a0
Co.,
Ltd
100
Shareholding
\u00a0
%
Country/Region
Company
Group
Parent
company
KONE
\u00a0
Elevators
\u00a0
Taiwan
\u00a0
Co.,
\u00a0
Ltd
100
Thailand
KONE
\u00a0
Public
\u00a0
Company
\u00a0
Limited
84.08
Thai
\u00a0
Elevators
\u00a0
and
\u00a0
Escalators
\u00a0
Company
\u00a0
Limited
74
Thai
\u00a0
Elevators
\u00a0
Holding
\u00a0
Company
\u00a0
Limited
49
Tunisia
KONE
\u00a0
Elevators
\u00a0
&
\u00a0
Escalators
\u00a0
Assembly
100
KONE
\u00a0
Elevators
\u00a0
&
\u00a0
Escalators
\u00a0
Sarl
100
T\u00fcrkiye
KONE
\u00a0
Asans\u00f6r
\u00a0
Sanayi
\u00a0
ve
\u00a0
Ticaret
\u00a0
A.S.
100
Uganda
KONE
\u00a0
Uganda
\u00a0
Limited
100
Ukraine
KONE
\u00a0
Lifts
\u00a0
LLC
100
United
\u00a0
Arab
Emirates
KONE
\u00a0
(Middle
\u00a0
East)
\u00a0
LLC
49
49
United
\u00a0
Kingdom
KONE
\u00a0
(NI)
\u00a0
Limited
100
KONE
\u00a0
Pension
\u00a0
Trustees
\u00a0
Ltd.
100
KONE
\u00a0
Plc
100
100
USA
ENOK
\u00a0
Electrical
\u00a0
Company,
\u00a0
LLC
100
KONE
\u00a0
Holdings,
\u00a0
Inc.
100
KONE
\u00a0
Inc.
100
Marine
\u00a0
Elevators
\u00a0
LLC
100
Vietnam
KONE
\u00a0
Vietnam
\u00a0
Limited
\u00a0
Liability
\u00a0
Company
100
1)
\u00a0
Includes
\u00a0
all
\u00a0
companies
\u00a0
where
\u00a0
parent
\u00a0
company
\u00a0
KONE
\u00a0
Oyj
\u00a0
has
\u00a0
control.
\u00a0
Additional
\u00a0
information
\u00a0
included
\u00a0
in
\u00a0
note
\u00a0
1
\u00a0
of
\u00a0
the
consolidated
\u00a0
financial
\u00a0
statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_1": { "value": "Keilasatama 3 P.O. Box 7 FI-02150 Espoo Finland", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:2138001CNF45JP5XZK38", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } } } }