Consolidated statements of changes in equity in CHF m

at 31 December 2019 and 2018

 

  

Other reserves

  

 

 

  

Total share capital

  

Treasury shares (par value)

  

Share premium reserves

  

Hedging reserves

  

Cumulative translation reserves

  

Total other reserves

  

Retained earnings

  

Total attributable to equity holders

  

Non- controlling interests

  

Total equity

1

The impact of the changes in accounting policy include CHF 4 million (net of tax) related to the implementation of IFRS 9.

2

The impact of the changes in accounting policy include CHF 1 million related to the implementation of IFRS 16 (see note 1.04).

Balance 31 December 2017

  

1 228

  

–10

  

1 171

  

5

  

–1 093

  

83

  

1 459

  

2 760

  

179

  

2 939

Changes in accounting policy1

  

 

  

 

  

 

  

 

  

 

  

—

  

–4

  

–4

  

 

  

–4

Balance 1 January 2018

  

1 228

  

–10

  

1 171

  

5

  

–1 093

  

83

  

1 455

  

2 756

  

179

  

2 935

Net income

  

 

  

 

  

 

  

 

  

 

  

—

  

337

  

337

  

19

  

356

Cash flow hedge

  

 

  

 

  

 

  

–1

  

 

  

–1

  

 

  

–1

  

 

  

–1

Net investment hedge

  

 

  

 

  

 

  

 

  

28

  

28

  

 

  

28

  

 

  

28

Remeasurements:

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Actuarial gain/loss on retirement benefit obligations (see note 20)

  

 

  

 

  

 

  

 

  

 

  

—

  

126

  

126

  

 

  

126

Return on retirement benefit plan assets, excluding amount included in interest expense (see note 20)

  

 

  

 

  

 

  

 

  

 

  

—

  

–149

  

–149

  

 

  

–149

Deferred tax on remeasurements (see note 10)

  

 

  

 

  

 

  

 

  

 

  

—

  

1

  

1

  

 

  

1

Currency translation differences

  

 

  

 

  

 

  

 

  

–136

  

–136

  

 

  

–136

  

–10

  

–146

Fair value adjustment on financial assets

  

 

  

 

  

 

  

 

  

 

  

—

  

2

  

2

  

 

  

2

Effect of the reclassification of foreign exchange differences on previously held net investments in foreign entities

  

 

  

 

  

 

  

 

  

2

  

2

  

 

  

2

  

 

  

2

Total comprehensive income/loss for the period

  

—

  

—

  

—

  

–1

  

–106

  

–107

  

317

  

210

  

9

  

219

Distributions

  

 

  

 

  

–165

  

 

  

 

  

–165

  

 

  

–165

  

 

  

–165

Dividends to non-controlling interests

  

 

  

 

  

 

  

 

  

 

  

—

  

 

  

—

  

–16

  

–16

Employee share scheme:

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Effect of employee services

  

 

  

 

  

 

  

 

  

 

  

—

  

–12

  

–12

  

 

  

–12

Treasury share transactions

  

 

  

2

  

 

  

 

  

 

  

—

  

7

  

9

  

 

  

9

Balance 31 December 2018

  

1 228

  

–8

  

1 006

  

4

  

–1 199

  

–189

  

1 767

  

2 798

  

172

  

2 970

Changes in accounting policy2

  

 

  

 

  

 

  

 

  

 

  

—

  

1

  

1

  

 

  

1

Balance 1 January 2019

  

1 228

  

–8

  

1 006

  

4

  

–1 199

  

–189

  

1 768

  

2 799

  

172

  

2 971

Net income

  

 

  

 

  

 

  

 

  

 

  

—

  

10

  

10

  

28

  

38

Cash flow hedge

  

 

  

 

  

 

  

–2

  

 

  

–2

  

 

  

–2

  

 

  

–2

Net investment hedge

  

 

  

 

  

 

  

 

  

35

  

35

  

 

  

35

  

 

  

35

Remeasurements:

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Actuarial gain/loss on retirement benefit obligations (see note 20)

  

 

  

 

  

 

  

 

  

 

  

—

  

–316

  

–316

  

 

  

–316

Return on retirement benefit plan assets, excluding amount included in interest expense (see note 20)

  

 

  

 

  

 

  

 

  

 

  

—

  

219

  

219

  

 

  

219

Deferred tax on remeasurements (see note 10)

  

 

  

 

  

 

  

 

  

 

  

—

  

37

  

37

  

 

  

37

Currency translation differences

  

 

  

 

  

 

  

 

  

–113

  

–113

  

 

  

–113

  

–7

  

–120

Fair value adjustment on financial assets

  

 

  

 

  

 

  

 

  

 

  

—

  

14

  

14

  

 

  

14

Share in other comprehensive income of associates and joint ventures (see note 8)

  

 

  

 

  

 

  

 

  

 

  

—

  

–9

  

–9

  

 

  

–9

Effect of the reclassification of foreign exchange differences on previously held net investments in foreign entities

  

 

  

 

  

 

  

 

  

19

  

19

  

 

  

19

  

 

  

19

Total comprehensive income/loss for the period

  

—

  

—

  

—

  

–2

  

–59

  

–61

  

–45

  

–106

  

21

  

–85

Distributions

  

 

  

 

  

–181

  

 

  

 

  

–181

  

 

  

–181

  

 

  

–181

Dividends to non-controlling interests

  

 

  

 

  

 

  

 

  

 

  

—

  

 

  

—

  

–20

  

–20

Transaction with non-controlling interests

  

 

  

 

  

 

  

 

  

 

  

—

  

1

  

1

  

–2

  

–1

Employee share scheme:

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Effect of employee services

  

 

  

 

  

 

  

 

  

 

  

—

  

–1

  

–1

  

 

  

–1

Treasury share transactions

  

 

  

–2

  

 

  

 

  

 

  

—

  

–4

  

–6

  

 

  

–6

Balance 31 December 2019

  

1 228

  

–10

  

825

  

2

  

–1 258

  

–431

  

1 719

  

2 506

  

171

  

2 677