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In CHF million       2016   2015
Net revenue from the sale of goods and services       229   237
Other income       66   32
Total operating income       295   269
Personnel expense       (78)   (82)
Other operating expense       (92)   (110)
Total operating expenses       (170)   (192)
Operating income       125   77
Financial expense       (135)   (181)
Financial income       140   201
Income from participations       2,567   189
Income before taxes       2,697   286
Income tax expense       (15)   (7)
Net income       2,682   279