Shareholders' Letter

Consolidated balance sheet
1.1.2009
In CHF million Note 31.12.2010 31.12.2009 1 restated 1
Assets
Cash and cash equivalents 17 483 532 958
Trade and other receivables 18 2,742 2,926 2,798
Other financial assets 19 122 178 170
Inventories 20 150 135 188
Current income tax assets 15 30 48 38
Other non-financial assets 21 329 329 334
Non-current assets held for sale 22 4 6 16
Total current assets 3,860 4,154 4,502
Property, plant and equipment 23 7,899 8,176 8,214
Goodwill and other intangible assets 24 8,284 9,022 8,952
Investments in associated companies 25 231 228 285
Other financial assets 19 415 424 853
Deferred tax assets 15 71 57 67
Defined benefit assets 10 263 38 –
Other non-financial assets 21 44 45 55
Total non-current assets 17,207 17,990 18,426
Total assets 21,067 22,144 22,928
Liabilities and equity
Financial liabilities 26 941 1,270 216
Trade and other payables 27 2,215 2,314 2,186
Current income tax liabilities 15 35 219 163
Provisions 28 146 137 482
Other non-financial liabilities 30 685 701 619
Total current liabilities 4,022 4,641 3,666
Financial liabilities 26 8,831 8,949 11,787
Defined benefit obligations 10 341 351 428
Provisions 28 716 740 715
Deferred tax liabilities 15 553 523 407
Other non-financial liabilities 30 320 330 278
Total non-current liabilities 10,761 10,893 13,615
Total liabilities 14,783 15,534 17,281
Share capital 31 52 52 53
Capital reserves 370 370 370
Retained earnings 7,421 6,700 6,495
Treasury shares 31 (1) (1) (738)
Other reserves 31 (1,586) (830) (907)
Share of equity attributable to equity holders of Swisscom Ltd 6,256 6,291 5,273
Share of equity attributable to minority interests 5 28 319 374
Total equity 6,284 6,610 5,647
Total liabilities and equity 21,067 22,144 22,928
1 See Note 3.26 new and amended standards and interpretations