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Financial Statements
Statement of cash flows (unaudited)
| Spreadsheets |
Statement of cash flows (unaudited) | ||
Quarter ended | ||
CHF million | 31.3.08 | 31.3.07 |
Cash flow from / (used in) operating activities | ||
Net profit | (11,382) | 3,193 |
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 | 281 | 303 |
Amortization of intangible assets | 49 | 85 |
Credit loss expense / (recovery) | 311 | (1) |
Equity in income of associates | (26) | (32) |
Deferred tax expense / (benefit) | (911) | 405 |
Net loss / (gain) from investing activities | (171) | (145) |
Net loss / (gain) from financing activities | (10,161) | 740 |
Net (increase) / decrease in operating assets: | ||
Net due from / to banks | 2,056 | 13,537 |
Reverse repurchase agreements and cash collateral on securities borrowed | 13,997 | (84,467) |
Trading portfolio and net replacement values | 145,180 | 630 |
Loans / due to customers | (62,645) | 10,653 |
Accrued income, prepaid expenses and other assets | 2,092 | (386) |
Net increase / (decrease) in operating liabilities: | ||
Repurchase agreements and cash collateral on securities lent | (40,535) | 44,191 |
Accrued expenses and other liabilities | (19,024) | (2,397) |
Income taxes paid | (245) | (1,256) |
Net cash flow from / (used in) operating activities | 18,866 | (14,947) |
Cash flow from / (used in) investing activities | ||
Investments in subsidiaries and associates | (1,100) | (715) |
Disposal of subsidiaries and associates | 1,107 | 77 |
Purchase of property and equipment | (301) | (431) |
Disposal of property and equipment | 4 | 64 |
Net (investment in) / divestment of financial investments available-for-sale | (134) | 414 |
Net cash flow from / (used in) investing activities | (424) | (591) |
Cash flow from / (used in) financing activities | ||
Net money market paper issued / (repaid) | (1,837) | 20,364 |
Net movements in treasury shares and own equity derivative activity | (4,887) | (1,718) |
Capital issuance | 0 | 0 |
Dividends paid | 0 | 0 |
Issuance of long-term debt, including financial liabilities designated at fair value | 43,948 | 40,052 |
Repayment of long-term debt, including financial liabilities designated at fair value | (19,606) | (19,087) |
Increase in minority interests | 35 | 11 |
Dividend payments to / purchase from minority interests | (164) | (109) |
Net cash flow from / (used in) financing activities | 17,489 | 39,513 |
Effects of exchange rate differences | (30,328) | 484 |
Net increase / (decrease) in cash and cash equivalents | 5,603 | 24,459 |
Cash and cash equivalents, beginning of the period | 149,105 | 136,090 |
Cash and cash equivalents, end of the period | 154,708 | 160,549 |
Cash and cash equivalents comprise: | ||
Cash and balances with central banks | 19,352 | 3,826 |
Money market paper 1 | 76,265 | 107,463 |
Due from banks with original maturity of less than three months | 59,091 | 49,260 |
Total | 154,708 | 160,549 |
Cash paid as interest was CHF 20,230 million and CHF 22,542 million during the first quarter of 2008 and 2007, respectively.
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