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Consolidated statement of cash flows (condensed and unaudited)

In CHF million   Note   1.1.–30.9.2016   1.1.–30.9.2015
Net income       1,197   1,058
Adjustment for non-cash items       2,095   2,033
Change in operating assets and liabilities       (137)   79
Income taxes paid       (281)   (286)
Cash flow provided by operating activities       2,874   2,884
Capital expenditure for tangible and intangible assets       (1,768)   (1,752)
Acquisition of subsidiaries, net of cash and cash equivalents       (26)   (49)
Proceeds from sale of subsidiaries, net of cash and cash equivalents sold         32
Other cash flows from investing activities, net       25   159
Cash flow used in investing activities       (1,769)   (1,610)
Issuance and repayment of financial liabilities, net   5    137   (58)
Dividends paid to equity holders of Swisscom Ltd   8    (1,140)   (1,140)
Dividends paid to non-controlling interests       (8)   (7)
Acquisition of non-controlling interets       1   (5)
Other cash flows from financing activities, net       (146)   (165)
Cash flow used in financing activities       (1,156)   (1,375)
Net decrease in cash and cash equivalents       (51)   (101)
Cash and cash equivalents at beginning of period       324   302
Foreign currency translation adjustments in respect of cash and cash equivalents         (5)
Cash and cash equivalents at end of period       273   196