Notes to the consolidated financial statements - Swisscom

32 Minority interests
33 Shareholders’ equity
34 Dividend per share
The present value of finance lease liabilities is as follows:
CHF in millions
Within one year
Within 1–2 years
Within 2–3 years
Within 3–4 years
Within 4–5 years
After 5 years
The weighted average effective interest rates for finance lease liabilities at the balance
sheet date were 2.99% and 4.39% for 2000 and 2001, respectively.
Payments for operating leases amounted to CHF 20 million and CHF 85 million in 2000
and 2001 respectively. Future minimum lease payments resulting from operating lease
contracts are due as follows:
CHF in millions
Within one year
Within 1–5 years
After 5 years
Total future payment commitments
CHF in millions
Balance at beginning of year
Share of net profit of subsidiaries
Issuance of share capital to minority interest
Effect of acquisitions and divestitures
Dividend paid
Balance at end of year
Share capital
Ordinary shares authorized, issued and outstanding at December 31, 2000 and 2001,
total 73,550,000 with a par value of CHF 25 per share and CHF 17 per share, respectively.
All issued shares are fully paid. The number of treasury shares outstanding at December
31, 2000 and 2001 total 2,514 and 3,431 respectively. In accordance with the
resolution passed at the General Meeting of Shareholders there was a capital reduction
of CHF 8 per share in the third quarter of 2001, amounting to CHF 589 million.
In 2000 and 2001, Swisscom acquired 56,160 and 69,804, respectively, of its own shares
through purchases on the market. The total amount paid to acquire the shares was
CHF 35 million in 2000 and CHF 31 million in 2001 and has been deducted from shareholders’
equity. In 2000 and 2001, 55,916 and 68,887 respectively of these shares were
issued to employees, Executive Board and Board of Directors for no consideration. The
market value of these shares on the date of issuance was CHF 35 million in 2000 and
CHF 30 million in 2001 and has been recognized under personnel expenses. In 2001,
Swisscom purchased options on the market for its Management Incentive Plan in the
amount of CHF 8 million. See Note 8.
At the Annual General Meeting scheduled for April 30, 2002, a dividend in respect of
2001 of CHF 11 per share for those shares outstanding after the proposed share buyback
amounting to a total dividend of CHF 728 million is to be proposed. These financial
statements do not reflect this dividend payable, which will be accounted for in
shareholders’ equity as an appropriation of retained earnings in the year ending December
31, 2002. The dividends declared in respect of 1999 and 2000 were CHF 1,103
million and CHF 809 million, respectively.
49 Swisscom Consolidated financial statements
2000
30
32
49
54
149
196
2000
18
22
–
40
2000
31
14
13
12
(9)
61
2001
40
58
62
158
34
868
2001
119
351
375
845
2001
61
238
520
(30)
(6)
783