Shareholders' Letter
Shareholders' Letter
Shareholders' Letter
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Consolidated statement of cash flows<br />
In CHF million Note 2010 2009 restated 1<br />
Net income 1,786 1,923<br />
Share of results of associated companies 25 (28) (43)<br />
Income tax expense 15 502 460<br />
Depreciation, amortisation and impairment losses 23, 24 1,972 1,995<br />
Expense for share-based payments 11 2 2<br />
Gain on sale of property, plant and equipment 13 (24) (16)<br />
Loss on disposal of property, plant and equipment 12 7 12<br />
Financial income 14 (93) (144)<br />
Financial expense 14 458 493<br />
Change in net operating assets and liabilities 34 (193) 13<br />
Income taxes paid 15 (365) (300)<br />
Cash flow provided by operating activities 4,024 4,395<br />
Capital expenditure for tangible and other intangible assets 23, 24, 34 (1,903) (1,987)<br />
Proceeds from sale of property, plant and equipment<br />
and other intangible assets 21 25<br />
Proceeds from sale of non-current assets held for sale 22 13 6<br />
Acquisition of subsidiaries, net of cash and cash equivalents acquired 5 (39) (47)<br />
Proceeds from sale of subsidiaries, net of cash and cash equivalents sold 5 9 4<br />
Acquisition of shares in associated companies 25 – (1)<br />
Expenditures for other current financial assets (42) (22)<br />
Proceeds from other current financial assets 30 71<br />
Expenditures for other non-current financial assets (27) (50)<br />
Proceeds from other non-current financial assets 19, 26 8 812<br />
Interest received 15 35<br />
Dividends received 25 55 93<br />
Cash flow used in investing activities (1,860) (1,061)<br />
Issuance of financial liabilities 26 2,589 3,262<br />
Repayment of financial liabilities 26 (3,133) (5,227)<br />
Interest paid (299) (271)<br />
Dividends paid to equity holders of Swisscom Ltd 32 (1,036) (984)<br />
Dividends paid to minority interests (8) (55)<br />
Purchase of minority interests of Fastweb<br />
Acquisition of treasury shares<br />
5 (246) –<br />
for share-based payments 11 (2) (2)<br />
Other cash flows from financing activities 34 (38) (482)<br />
Cash flow used in financing activities (2,173) (3,759)<br />
Net decrease in cash and cash equivalents (9) (425)<br />
Cash and cash equivalents at 1 January 532 958<br />
Foreign currency translation adjustments in respect of cash and cash equivalents (40) (1)<br />
Cash and cash equivalents at 31 December 483 532<br />
1 See Note 3.26 new and amended standards and interpretations<br />
Consolidated financial statements 138 | 139<br />
Consolidated balance sheet<br />
Consolidated statement of cash flows
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