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Annual Report 2019
Annual Report 2019
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Con­sol­i­dated statement of cash flows

In CHF million   Note   2019   2018
Net income       1,669   1,521
Income tax expense   6.1    55   395
Result of equity-accounted investees   5.3    28   (5)
Financial income   2.4    (33)   (28)
Financial expense   2.4    191   186
De­pre­ci­a­tion and amor­ti­sa­tion of property, plant and equipment and intangible assets   3.2, 3.3    2,166   2,144
De­pre­ci­a­tion of right-of-use assets   2.3    282   –
Gain on sale of property, plant and equipment   1.2    (13)   (17)
Loss on disposal of property, plant and equipment       –   7
Expense for share-based payments       1   1
Revenue from finance lease       (101)   –
Change in deferred gain from the sale and leaseback of real estate   2.3    (12)   (12)
Change in operating assets and liabilities   3.1    100   (70)
Change in provisions   3.5    58   (57)
Change in defined benefit obligations   4.3    48   64
Interest received       25   24
Dividends received   5.3    18   18
Interest payments for financial liabilities   2.2    (88)   (133)
Interest payments for lease liabilities   2.3    (42)   (24)
Income taxes paid   6.1    (371)   (294)
Cash flow from operating activities       3,981   3,720
Purchase of property, plant and equipment and intangible assets   3.2, 3.3    (2,390)   (2,404)
Sale of property, plant and equipment and intangible assets       31   21
Acquisition of sub­sidiaries, net of cash and cash equivalents acquired   5.2    (394)   (78)
Sale of sub­sidiaries net of cash and cash equivalents sold   5.2    (3)   –
Payments for equity-accounted investees   5.2    (15)   (35)
Proceeds from finance lease receivables       38   –
Purchase of other financial assets       (13)   (31)
Proceeds from other financial assets       52   32
Remaining cash flows from investing activities       (39)   –
Cash flow used in investing activities       (2,733)   (2,495)
Issuance of financial liabilities   2.2    417   1,451
Repayment of financial liabilities   2.2    (374)   (1,545)
Repayment of lease liabilities   2.3    (276)   (26)
Dividends paid to equity holders of Swisscom Ltd   2.1    (1,140)   (1,140)
Dividends paid to non-controlling interests       (1)   (1)
Acquisition of non-controlling interests       (1)   –
Other cash flows from financing activities       (15)   (9)
Cash flow used in financing activities       (1,390)   (1,270)
Net decrease in cash and cash equivalents       (142)   (45)
Cash and cash equivalents at 1 January       474   525
Foreign currency translation adjustments in respect of cash and cash equivalents       (4)   (6)
Cash and cash equivalents at 31 December       328   474