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Accrued and other liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Accrued Liabilities and Other Liabilities [Abstract]

Accrued and Other Liabilities

Accrued and other liabilities consist of the following:

Year ended December 31 (€, in millions)			2021						2022
Costs to be paid1			352.0						511.6
Personnel-related items			864.7						1,070.9
Derivative financial instruments2			2.8						261.2
Operating lease liabilities3			161.7						196.7
Provisions			91.2						90.5
Standard warranty reserve			145.3						143.6
Other			68.9						56.3
Accrued and other liabilities			1,686.6						2,330.8
Less: non-current portion of accrued and other liabilities			251.1						454.9
Current portion of accrued and other liabilities			1,435.5						1,875.9

1.Costs to be paid includes an amount payable to related parties. For further details see Note 26 Related parties and variable interest entities.

2.For further details on derivative financial instruments see Note 25 Financial risk management.

3.For further details on lease liabilities see Note 14 Right-of-use assets and lease liabilities.

Changes in Standard Warranty Reserve

Total changes in standard warranty reserve for the years 2022 and 2021, are as follows:

Year ended December 31 (€, in millions)			2021						2022
Balance at beginning of year			119.1						145.3
Additions for the year			188.6						191.5
Utilization of the reserve			(162.8)						(193.5)
Effect of exchange rates			0.4						0.3
Balance at end of year			145.3						143.6

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- Definition

Tabular disclosure of the components of accrued liabilities.

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- Definition

Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=126907703&loc=d3e12565-110249

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