Consolidated statement of cash flows

In CHF millionNote20142013
Net income1,7061,695
Share of results of associates25(26)(30)
Income tax expense15382334
Depreciation, amortisation and impairment losses23, 242,0912,044
Expense for share-based payments1156
Gain on sale of property, plant and equipment13(60)(16)
Loss on disposal of property, plant and equipment121113
Financial income14(112)(81)
Financial expense14372340
Change in net operating assets and liabilities34(213)104
Income taxes paid15(386)(278)
Cash flow provided by operating activities3,7704,131
Capital expenditure for tangible and other intangible assets23, 24, 34(2,460)(2,445)
Proceeds from sale of tangible and other intangible assets3523
Proceeds from sale of non-current assets held for sale222055
Acquisition of subsidiaries, net of cash and cash equivalents acquired5(305)(60)
Investments in associates25(3)(1)
Purchase of other financial assets(25)(158)
Proceeds from other financial assets16724
Interest received1010
Dividends received253043
Cash flow used in investing activities(2,346)(2,559)
Issuance of financial liabilities261,500993
Repayment of financial liabilities26(1,765)(956)
Interest paid(245)(253)
Dividends paid to equity holders of Swisscom Ltd32(1,140)(1,140)
Dividends paid to non-controlling interests(16)(14)
Acquisition of non–controlling interests31(162)
Purchase of treasury shares for share-based payments11, 31(5)(6)
Other cash flows from financing activities34(14)(12)
Cash flow used in financing activities(1,847)(1,388)
(Net decrease) Net increase in cash and cash equivalents(423)184
Cash and cash equivalents at 1 January723538
Foreign currency translation adjustments in respect of cash and cash equivalents21
Cash and cash equivalents at 31 December302723