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Consolidated statement of cash flows (condensed and unaudited)

In CHF million       1.1.–31.3.2017   1.1.–31.3.2016
Net income       373   364
Adjustment for non-cash items       700   709
Change in operating assets and liabilities       (83)   (304)
Income taxes paid       (184)   (107)
Cash flow provided by operating activities       806   662
Capital expenditure       (529)   (596)
Other cash flows from investing activities, net       (40)   19
Cash flow used in investing activities       (569)   (577)
Issuance and repayment of financial liabilities, net       (206)   (88)
Other cash flows from financing activities, net       (29)   (26)
Cash flow used in financing activities       (235)   (114)
Net increase (net decrease) in cash and cash equivalents       2   (29)
Cash and cash equivalents at beginning of period       329   324
Foreign currency translation adjustments in respect of cash and cash equivalents       (1)   1
Cash and cash equivalents at end of period       330   296