Notes

Growth rates are based on reported values expressed in nominal terms. Growth rates of R&D, measured between 2022 and 2023, refer to the January-December calendar period, except for CISCO SYSTEMS, DELL TECHNOLOGIES and MEDTRONIC PUBLIC LIMITED (one-month shift later) and ORACLE (one-month shift before). For companies whose fiscal year-end is November, December or January, figures are based on R&D reported in annual accounts. For the other companies, figures are obtained by recombining successive quarterly reports’ data. Growth rate averages are based on company data converted to USD before being aggregated. As an example, the mean of the R&D growth between t-1 and t will be an average of companies’ R&D in t over t-1, weighted by the share of each company R&D to all companies’ R&D in USD in t-1. Company reports of R&D expenses need not coincide with R&D expenditures as covered in official R&D statistics compiled according to the Frascati Manual (OECD, 2015). In order to compile the data presented in the SwiFTBeRD Dashboard, the OECD implements a series of adjustments aimed at enhancing comparability, whenever the necessary information is available. Companies presenting their financial results in compliance with the International Financial Reporting Standards (IFRS) capitalise part of their development costs (under some criteria). In the data presented in SwiFTBeRD, capitalised development costs are added to reported R&D expenses, while amortisation of capitalised development expenditures are conversely excluded, provided that the information is available both in the annual and interim reports. In addition, when possible, expenses and impairment of purchased in-process R&D (as well as restructuring R&D costs) are excluded in the SwiFTBeRD figures in order to align as much as possible with R&D conducted in the reference period and deliver more meaningful indicators. For Alibaba, R&D figures correspond to ‘product development expenses’.