The financial report is available in English, French and German. The German version is binding.
CHF in millions
| 2011 | 2010 | |
| Net income | 694 | 1'788 |
| Share of results of associates | (30) | (28) |
| Income tax expense | 151 | 502 |
| Depreciation, amortisation and impairment losses | 3'458 | 1'972 |
| Expense for share-based payments | 9 | 2 |
| Gain on sale of property, plant and equipment | (23) | (24) |
| Loss on disposal of property, plant and equipment | 5 | 7 |
| Financial income | (54) | (93) |
| Financial expense | 365 | 458 |
| Change in net operating assets and liabilities | (442) | (195) |
| Income taxes paid | (182) | (365) |
| Cash flow provided by operating activities | 3'951 | 4'024 |
| Capital expenditure for tangible and intangible assets | (2'095) | (1'903) |
| Proceeds from sale of property, plant and equipment and other intangible assets | 22 | 21 |
| Proceeds from sale of non-current assets held for sale | 15 | 13 |
| Acquisition of subsidiaries, net of cash and cash equivalents acquired | (21) | (39) |
| Proceeds from sale of subsidiaries, net of cash and cash equivalents sold | – | 9 |
| Investments in associates | (2) | – |
| Purchase of other financial assets | (21) | (69) |
| Proceeds from other financial assets | 123 | 38 |
| Interest received | 16 | 15 |
| Dividends received | 34 | 55 |
| Cash flow used in investing activities | (1'929) | (1'860) |
| Issuance of financial liabilities | 660 | 2'589 |
| Repayment of financial liabilities | (1'383) | (3'133) |
| Interest paid | (267) | (299) |
| Dividends paid to equity holders of Swisscom Ltd | (1'088) | (1'036) |
| Dividends paid to non-controlling interests | (7) | (8) |
| Purchase of non-controlling interests of Fastweb | (92) | (246) |
| Purchase of treasury shares for share-based payments | (7) | (2) |
| Other cash flows from financing activities | (4) | (38) |
| Cash flow used in financing activities | (2'188) | (2'173) |
| Net decrease in cash and cash equivalents | (166) | (9) |
| Cash and cash equivalents at January 1 | 483 | 532 |
| Foreign currency translation adjustments in respect of cash and cash equivalents | (3) | (40) |
| Cash and cash equivalents at December 31 | 314 | 483 |