Diluted earnings per share For the calculation of diluted earnings per share, the weighted average number of shares outstanding is adjusted to assume conversion of all potentially dilutive shares: 2021 2020 Income attributable to equity holder of the parent (in millions of Swiss francs) 821 743 Weighted average number of shares outstanding for diluted earnings per share of 69,252 (2020: 72,588) 9,290,859 9,291,805 Diluted earnings per share (CHF) 88.37 79.96 18. Cash and Cash Equivalents in millions of Swiss francs 2021 2020 Cash on hand and balances with banks 264 339 Short-term investments 9 72 Balance as at 31 December 273 411 19. Accounts Receivable – Trade in millions of Swiss francs 2021 2020 Accounts receivable 1,484 1,377 Notes receivable – 1 Less: allowance for doubtful accounts (20) (19) Balance as at 31 December 1,464 1,359 Ageing list: in millions of Swiss francs 2021 2020 Neither past due nor impaired 1,375 1,280 Less than 30 days 65 59 30−60 days 16 16 60−90 days 8 5 Above 90 days 20 18 Less: allowance for doubtful accounts (20) (19) Balance as at 31 December 1,464 1,359 Movement in the allowance for doubtful accounts: in millions of Swiss francs 2021 2020 Balance as at 1 January (19) (20) Increase in allowance for doubtful accounts recognised in consolidated income statement (7) (5) Amounts written off as uncollectible 1 2 Reversal of allowance for doubtful accounts 5 2 Currency translation effects – 2 Balance as at 31 December (20) (19) Past due and impaired receivables are still considered recoverable. The carrying amount of accounts receivable – trade is considered to correspond to the fair value. 20. Inventories in millions of Swiss francs 2021 2020 Raw materials and supplies 542 460 Work in process 25 28 Intermediate and finished goods 894 787 Less: allowance for slow moving and obsolete inventories (81) (74) Balance as at 31 December 1,380 1,201 In 2021 the amount of write-down of inventories was CHF 52 million (2020: CHF 45 million). At 31 December 2021 and 2020 no significant inventory was valued at net realisable value. Governance Report Compensation Report Consolidated Financial Report Statutory Financial Report Appendix 81 Givaudan — 2021 Governance, Compensation and Financial Report Notes to the consolidated financial statements