18. Reconciliation of Net Debt

in CHF m	31.12.2016	Movements in cash flow	Effect of business combinations	Exchange rate differences	Other non-cash movements	31.12.2017
Cash and cash equivalents	1 043	–391	58	–9	—	701
Short-term deposits	277	–242	5	7	—	47
Financial instruments with positive fair values	5	2	—	—	—	7
Total cash and liquid investments	1 325	–631	63	–2	—	755
Non-current financial debt	–1 908	–8	—	–61	250	–1 727
Current financial debt	–957	648	–1	–7	–250	–567
Borrowings and other financial liabilities	–2 865	640	–1	–68	—	–2 294
Net debt	–1 540	9	62	–70	—	–1 539

in CHF m	31.12.2015	Movements in cash flow	Effect of business combinations	Exchange rate differences	Other non-cash movements	31.12.2016
Cash and cash equivalents	789	285	—	–31	—	1 043
Short-term deposits	152	127	—	–2	—	277
Financial instruments with positive fair values	—	5	—	—	—	5
Total cash and liquid investments	941	417	—	–33	—	1 325
Non-current financial debt	–1 859	–700	—	14	637	–1 908
Current financial debt	–394	94	—	–20	–637	–957
Borrowings and other financial liabilities	–2 253	–606	—	–6	—	–2 865
Net debt	–1 312	–189	—	–39	—	–1 540