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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