4 Acquisition of subsidiaries

Acquisitions in 2021

No acquisitions were made in 2021.

Cash flow from acquisitions of subsidiaries

millions of CHF	2021	2020
Cash consideration paid	–	–1.5
Contingent consideration paid	–2.7	–
Cash acquired	–	3.7
Total cash flow from acquisitions, net of cash acquired	–2.7	2.2

Contingent consideration

millions of CHF	2021	2020 1)
Balance as of January 1	2.7	–
Assumed in a business combination	0.0	2.7
Payment of contingent consideration	–2.7	–
Currency translation differences	0.0	0.0
Total contingent consideration as of December 31	0.0	2.7
– thereof non-current	–	–
– thereof current	0.0	2.7

1) Numbers are adjusted to reflect the reassessment of the contingent considerations (measurement period adjustment).

Acquisitions in 2020

The following table summarizes the recognized amounts of assets acquired and liabilities assumed at the date of acquisition, including the resulting goodwill and the total consideration paid.

Net assets acquired

millions of CHF	Haselmeier	Others	Total
Intangible assets	39.8	1.7	41.5
Property, plant and equipment	13.1	0.0	13.1
Lease assets	2.4	–	2.4
Deferred income tax assets	0.3	–	0.3
Cash and cash equivalents	3.7	0.0	3.7
Trade accounts receivable	5.2	0.0	5.2
Other current assets	9.6	0.1	9.7
Lease liabilities	–2.4	–	–2.4
Provisions	–3.5	–0.0	–3.5
Non-current income tax liabilities	–2.3	–	–2.3
Deferred income tax liabilities	–5.3	–0.3	–5.6
Other liabilities	–1.8	–	–1.8
Net identifiable assets	58.8	1.5	60.3
Goodwill recognized in balance sheet 1)	48.8	–	48.8
Total consideration 1)	107.6	1.5	109.1

Purchase price paid by the group	–	1.5	1.5
Borrowings assumed by the group	23.0	–	23.0
Purchase price paid by the Sulzer group	82.0	–	82.0
Contingent consideration 1)	2.7	–	2.7
Total consideration 1)	107.6	1.5	109.1

1) Numbers are adjusted to reflect the reassessment of the contingent considerations (measurement period adjustment).

Measurement period adjustment as of December 31, 2020

The group reassessed the accounting treatment of the contingent consideration of the Haselmeier acquisition based on facts and circumstances already existing at the acquisition date on October 1, 2020. The contingent consideration is mainly dependent on technology-related proof-of-concept, project development and customer orders and following the reassessment, the earn-out amount was adjusted from CHF 0.5 million to CHF 2.7 million retrospectively. Consequently, the group adjusted goodwill and other current and accrued liabilities by CHF 2.2 million as of December 31, 2020.

millions of CHF	As reported 2020	Measurement period adjustment	Adjusted 2020
Goodwill	263.2	2.2	265.4
Total non-current assets	635.3	2.2	637.5
Total assets	789.9	2.2	792.0
		–
Other current and accrued liabilities	26.5	2.2	28.7
Total current liabilities	134.4	2.2	136.6
Total equity and liabilities	789.9	2.2	792.0