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58 VP Bank Group Financial Report 2007
Consolidated Statement of Cash Flows
in CHF 1,000 2007 2006
Cash flow from operating activities
Group net income 157,798 132,065
Share of minority interests in Group net income 3,702 2,805
Depreciation and amortization 21,534 17,077
Write-off for value impairment on financial investments available for sale 176 380
Reduction in retirement pension provisions –1,480 –411
Release of provisions –4,599 –8,196
Unrealized gains and losses on trading portfolios –3 –9
Unrealized gains and losses on financial investments designated at fair value 5,410 4,126
Unrealized gains and losses on financial investments available for sale –2,533 –3,101
Deferred income taxes 767 308
Tax on income paid, interest received less interest paid and dividends received –126,468 –114,882
Sub-total 54,304 30,162
Changes in assets and liabilities in connection with operating
business activities, after adjustment for non-cash-related transactions:
Due from/to banks, net –1,125,996 –613,679
Trading portfolios, incl. replacement values, net –26 –8,315
Interest received from interest-differential business 348,924 265,298
Interest received from trading portfolio interests 14 0
Dividends received from trading portfolio interests 22 40
Interest received on financial investments designated at fair value 13,096 13,586
Dividends received on financial investments designated at fair value 46 11
Interest received on financial investments available for sale 15,509 14,991
Dividends received on financial investments available for sale 3,002 1,552
Due from/to customers 622,376 849,087
Foreign-exchange impact on intra-group payments –14,654 –11,667
Accrued receivables, prepaid expenses and other assets –9,390 –10,932
Accrued liabilities and other liabilities 21,120 16,793
Interest paid in connection with interest-differential business –243,533 –171,019
Taxes on income paid –10,612 –9,577
Net cash flow from operating activities –325,798 366,331