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Shareholders' Letter

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Balance sheet<br />

In CHF million Note 31.12.2010 31.12.2009<br />

Assets<br />

Cash and cash equivalents 231 200<br />

Other financial assets 10 97 90<br />

Treasury shares 6 1 1<br />

Other receivables from third parties 3 4<br />

Receivables from Group companies 326 291<br />

Dividends receivable from subsidiaries 9 2,100 500<br />

Other assets 13 11<br />

Total current assets 2,771 1,097<br />

Property, plant and equipment 3 3 5<br />

Participations 9 6,930 6,927<br />

Loans to third parties 120 131<br />

Loans to Group companies 7,425 6,829<br />

Total non-current assets 14,478 13,892<br />

Total assets 17,249 14,989<br />

Liabilities and equity<br />

Financial liabilities to third parties 732 1,028<br />

Financial liabilities to Group companies 2,593 1,150<br />

Trade payables due to third parties 6 5<br />

Other payables to third parties 4 157 139<br />

Other payables to Group companies 14 13<br />

Total current liabilities 3,502 2,335<br />

Financial liabilities to third parties 5 7,966 8,005<br />

Financial liabilities to Group companies 284 299<br />

Provisions 344 356<br />

Other liabilities 4 10<br />

Total non-current liabilities 8,598 8,670<br />

Total liabilities 12,100 11,005<br />

Share capital 52 52<br />

General reserves / capital surplus reserve 255 255<br />

Reserve for treasury shares 1 1<br />

Retained earnings 4,841 3,676<br />

Total shareholders' equity 7 5,149 3,984<br />

Total liabilities and equity 17,249 14,989<br />

Financial statements of Swisscom Ltd 214 | 215<br />

Income statement and Balance sheet

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