Net asset position

In CHF million	31.12.2020	31.12.2019	Change
Property, plant and equipment	10,725	10,529	196
Intangible assets	1,745	1,842	(97)
Goodwill	5,162	5,163	(1)
Right-of-use assets	2,138	2,177	(39)
Trade receivables	2,132	2,183	(51)
Trade payables	(1,525)	(1,614)	89
Provisions	(1,216)	(1,134)	(82)
Deferred gain on sale and leaseback of real estate	(106)	(122)	16
Other operating assets and liabilities, net	(240)	(38)	(202)
Net operating assets	18,815	18,986	(171)
Net debt	(6,218)	(6,758)	540
Lease liabilities	(1,988)	(2,027)	39
Defined benefit obligations	(795)	(1,058)	263
Income tax assets and liabilities, net	(643)	(607)	(36)
Equity-accounted investees and other non-current financial assets	320	339	(19)
Equity	9,491	8,875	616

Equity ratio	39.1	36.6