Consolidated cash flow statement
Figures in CHF thousand | Notes | 2018 | 2017 | 2016 | 2015 |
Consolidated earnings | 54,065 | 217,882 | 97,969 | 15,936 | |
Write-downs/write-ups on investments | 6 | 228,003 | –127,509 | –32,149 | 94,281 |
Of which write-downs/write-ups on equity-accounted participations | 6 | 16,576 | –25,975 | 9,001 | 7,672 |
Write-downs/write-ups on intangible assets | 8 | 34,111 | 38,589 | 41,657 | 21,193 |
Write-downs/write-ups on property, plant and equipment | 8 | 9,822 | 9,621 | 8,547 | 8,683 |
Write-downs/write-ups on receivables | 41,057 | 28,335 | 20,127 | 16,672 | |
Change in net technical provisions | 11 | 266,488 | 221,579 | 16,444 | 12,727 |
Change in non-technical provisions | 12 | –2,240 | 6,590 | –23,411 | –6,445 |
Change in provision for investment risk | 13 | 4,000 | 51,000 | 152,000 | –15,000 |
Loss/gain on disposal of property, plant and equipment | 8 | 9 | 188 | –59 | 402 |
Change in deferred charges | 9 | 20,329 | –197,540 | 18,151 | 46,221 |
Change in deferred income taxes | –19,245 | –1,748 | –57,412 | –69,482 | |
Change in receivables | 10 | –67,824 | –63,886 | –92,310 | –59,737 |
Change in deferred credits | 9 | –2,392 | –39,481 | –27,123 | –18,064 |
Change in liabilities | 10 | –2,590 | –31,948 | –61,222 | 222,877 |
Cash flow from operating activities | 563,593 | 111,672 | 61,210 | 270,264 | |
Investment/divestment of investments | 6 | –193,386 | –109,386 | –200,085 | –106,292 |
Investment/divestment of intangible assets | 8 | –33,429 | 0 | –64,498 | –53,691 |
Investment/divestment of property, plant and equipment | 8 | –9,177 | –13,165 | –4,662 | –9,430 |
Cash flow from investment activities | –235,992 | –122,551 | –269,244 | –169,413 | |
Assumption of current financial liabilities | 10 | 0 | 110,000 | 0 | 0 |
Dividends to shareholders | –3,500 | –2,100 | –1,400 | –2,100 | |
Dividends to non-controlling interests | –736 | –491 | –975 | –919 | |
Change in non-controlling interest/third parties | 702 | 728 | 766 | 1,018 | |
Cash flow from financing activities | –3,534 | 108,137 | –1,610 | –2,001 | |
Total cash flow = change in cash and cash equivalents | 324,067 | 97,258 | –209,644 | 98,850 | |
Cash and cash equivalents opening amount at 1.1 | 188,502 | 91,244 | 300,888 | 202,038 | |
Cash and cash equivalents closing amount at 31.12 | 512,569 | 188,502 | 91,244 | 300,888 | |
Change in cash and cash equivalents 1 | 324,067 | 97,258 | –209,644 | 98,850 |
1 Cash and cash equivalents operating liquidity, liquidity with custodian bank, time deposits
