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Financial Statements
Statement of cash flows (unaudited)
| Spreadsheets |
Statement of cash flows (unaudited) | ||
For the six-month period ended | ||
CHF million | 30.6.08 | 30.6.07 |
Cash flow from / (used in) operating activities | ||
Net profit | (11,584) | 8,889 |
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 | 558 | 628 |
Amortization of intangible assets | 439 | 151 |
Credit loss expense / (recovery) | 329 | (15) |
Equity in income of associates | (45) | (87) |
Deferred tax expense / (benefit) | (4,444) | 50 |
Net loss / (gain) from investing activities | (284) | (2,946) |
Net loss / (gain) from financing activities | (17,879) | 4,292 |
Net (increase) / decrease in operating assets: | ||
Net due from / to banks | (19,259) | 18,715 |
Reverse repurchase agreements and cash collateral on securities borrowed | 15,074 | (17,911) |
Trading portfolio and net replacement values | 206,313 | (40,050) |
Loans / due to customers | (90,381) | 23,771 |
Accrued income, prepaid expenses and other assets | 4,068 | (6,524) |
Net increase / (decrease) in operating liabilities: | ||
Repurchase agreements and cash collateral on securities lent | (74,325) | (36,027) |
Accrued expenses and other liabilities | (14,664) | 8,984 |
Income taxes paid | (527) | (2,616) |
Net cash flow from / (used in) operating activities | (6,611) | (40,696) |
Cash flow from / (used in) investing activities | ||
Investments in subsidiaries and associates | (1,111) | (1,157) |
Disposal of subsidiaries and associates | 1,183 | 107 |
Purchase of property and equipment | (1,014) | (1,009) |
Disposal of property and equipment | 49 | 110 |
Net (investment in) / divestment of financial investments available-for-sale | (89) | 5,426 |
Net cash flow from / (used in) investing activities | (982) | 3,477 |
Cash flow from / (used in) financing activities | ||
Net money market paper issued / (repaid) | (23,975) | 25,372 |
Net movements in treasury shares and own equity derivative activity | 910 | (1,940) |
Capital issuance 1 | 26,380 | 0 |
Dividends paid | 0 | (4,275) |
Issuance of long-term debt, including financial liabilities designated at fair value | 58,374 | 66,694 |
Repayment of long-term debt, including financial liabilities designated at fair value | (40,358) | (36,875) |
Increase in minority interests | 1,669 | 13 |
Dividend payments to / purchase from minority interests | (412) | (327) |
Net cash flow from / (used in) financing activities | 22,588 | 48,662 |
Effects of exchange rate differences | (23,625) | 4,332 |
Net increase / (decrease) in cash and cash equivalents | (8,630) | 15,775 |
Cash and cash equivalents, beginning of the period | 149,105 | 136,090 |
Cash and cash equivalents, end of the period | 140,475 | 151,865 |
Cash and cash equivalents comprise: | ||
Cash and balances with central banks | 16,397 | 5,943 |
Money market paper 2 | 72,885 | 101,467 |
Due from banks with original maturity of less than three months | 51,193 | 44,455 |
Total | 140,475 | 151,865 |
Cash paid as interest was CHF 35,688 million and CHF 47,175 million during the first half 2008 and 2007, respectively.
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