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Consolidated statement of cash flows (condensed and unaudited)

In CHF million       1.1.–31.3.2016   1.1.–31.3.2015
Net income       364   351
Adjustment for non-cash items       709   692
Change in operating assets and liabilities       (304)   (157)
Income taxes paid       (107)   (109)
Cash flow provided by operating activities       662   777
Capital expenditure       (596)   (554)
Other cash flows from investing activities, net       19   (41)
Cash flow used in investing activities       (577)   (595)
Issuance and repayment of financial liabilities, net       (88)   (250)
Other cash flows from financing activities, net       (26)   (28)
Cash flow used in financing activities       (114)   (278)
Net decrease in cash and cash equivalents       (29)   (96)
Cash and cash equivalents at beginning of period       324   302
Foreign currency translation adjustments in respect of cash and cash equivalents       1  
Cash and cash equivalents at end of period       296   206