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Financial Statements
Statement of cash flows (unaudited)
| Spreadsheets |
Statement of cash flows (unaudited) | ||
Quarter ended | ||
CHF million | 31.3.06 | 31.3.05 |
Cash flow from / (used in) operating activities | ||
Net profit | 3,693 | 2,833 |
Adjustments to reconcile net profit to cash flow from / (used in) operating activities | ||
Non-cash items included in net profit and other adjustments: | ||
Depreciation of property and equipment | 328 | 389 |
Amortization of intangible assets | 79 | 80 |
Credit loss expense / (recovery) | (83) | (137) |
Equity in income of associates | (62) | (62) |
Deferred tax expense / (benefit) | 468 | 138 |
Net loss / (gain) from investing activities | (1,006) | (367) |
Net loss / (gain) from financing activities | 2,721 | (519) |
Net (increase) / decrease in operating assets: | ||
Net due from / to banks | 12,384 | 8,179 |
Reverse repurchase agreements and cash collateral on securities borrowed | (112,472) | (47,674) |
Trading portfolio and net replacement values | (12,896) | (27,451) |
Loans / due to customers | 19,100 | 846 |
Accrued income, prepaid expenses and other assets | (3,043) | (729) |
Net increase / (decrease) in operating liabilities: | ||
Repurchase agreements, cash collateral on securities lent | 83,765 | 35,170 |
Accrued expenses and other liabilities | 1,315 | 4,316 |
Income taxes paid | (651) | (404) |
Net cash flow from / (used in) operating activities | (6,360) | (25,392) |
Cash flow from / (used in) investing activities | ||
Investments in subsidiaries and associates | (335) | (47) |
Disposal of subsidiaries and associates | 876 | 318 |
Purchase of property and equipment | (459) | (331) |
Disposal of property and equipment | 436 | 70 |
Net (investment in) / divestment of financial investments | 1,108 | (325) |
Net cash flow from / (used in) investing activities | 1,626 | (315) |
Cash flow from / (used in) financing activities | ||
Net money market paper issued / (repaid) | 14,796 | 31,226 |
Net movements in treasury shares and own equity derivative activity | (390) | 1,253 |
Capital issuance | 0 | 1 |
Issuance of long-term debt, including financial liabilities designated at fair value | 12,162 | 12,004 |
Repayment of long-term debt, including financial liabilities designated at fair value | (4,244) | (3,545) |
Increase in minority interests | 5 | 0 |
Dividend payments to / purchase from minority interests | (191) | (199) |
Net cash flow from / (used in) financing activities | 22,138 | 40,740 |
Effects of exchange rate differences | 249 | 1,805 |
Net increase / (decrease) in cash and cash equivalents | 17,653 | 16,838 |
Cash and cash equivalents, beginning of the period | 91,042 | 87,091 |
Cash and cash equivalents, end of the period | 108,695 | 103,929 |
Cash and cash equivalents comprise: | ||
Cash and balances with central banks | 5,661 | 5,258 |
Money market paper 1 | 71,799 | 60,916 |
Due from banks with original maturity of less than three months | 31,235 | 37,755 |
Total | 108,695 | 103,929 |
Cash paid for interest was CHF 18,475 million and CHF 8,311 million during the first quarter of 2006 and 2005, respectively.
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