15. Cash Flow from Operating Activities
Audited information- Index
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for the years ended 31 December 2017 and 2016 |
Notes |
|
2017 in CHF m |
|
2016 in CHF m |
|||||||
|
||||||||||||
Net income |
|
|
302 |
|
263 |
|||||||
Adjustment for: |
|
|
|
|
|
|||||||
Depreciation of property, plant and equipment |
231 |
|
210 |
|
||||||||
Impairment |
16 |
|
8 |
|
||||||||
Depreciation of intangible assets |
70 |
|
55 |
|
||||||||
Impairment of working capital |
|
4 |
|
24 |
|
|||||||
Income from associates and joint ventures |
–103 |
|
–85 |
|
||||||||
Tax expense |
135 |
|
75 |
|
||||||||
Net financial income and costs |
65 |
|
109 |
|
||||||||
Gain/loss from disposals not qualifying as discontinued operations |
–3 |
|
3 |
|
||||||||
Other non-cash items |
|
37 |
|
20 |
|
|||||||
Total reversal of non-cash items |
|
|
452 |
|
419 |
|||||||
Dividends received from associates and joint ventures |
|
45 |
|
85 |
||||||||
Payments for restructuring |
|
–40 |
|
–37 |
||||||||
Cash flow before changes in net working capital and provisions1 |
|
|
759 |
|
730 |
|||||||
Changes in inventories |
|
|
–125 |
|
–20 |
|||||||
Changes in trade receivables |
|
|
–101 |
|
–80 |
|||||||
Changes in trade payables |
|
|
38 |
|
17 |
|||||||
Changes in other current assets and liabilities |
|
|
–46 |
|
12 |
|||||||
Changes in provisions (excluding payments for restructuring) |
|
|
4 |
|
53 |
|||||||
Cash generated from operating activities |
|
|
529 |
|
712 |
|||||||
Income taxes paid1 |
|
|
–101 |
|
–66 |
|||||||
Net cash generated from operating activities |
|
|
428 |
|
646 |
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