| CHF million | Note | 2022 | 2021 |
|---|---|---|---|
| Cash flow from operating activities | |||
| Earnings | 2,810 | 2,155 | |
| Adjustments to reconcile earnings for the year to net cash flows: | |||
| Income tax | 24 | 998 | 790 |
| Financial income | 23 | –59 | –14 |
| Financial expenses | 23 | 20 | 20 |
| Result from joint ventures and associates | –6 | –5 | |
| Depreciation of property, plant and equipment | 26 | 192 | 192 |
| Depreciation of right-of-use assets | 27 | 511 | 485 |
| Amortisation of other intangibles | 28 | 66 | 56 |
| Expenses for share-based compensation plans | 34 | 21 | 16 |
| (Gain)/loss on disposal of property, plant and equipment, net | 22 | –30 | –1 |
| Net addition to provisions for pension plans and severance payments | 33 | – | –6 |
| Subtotal operational cash flow | 4,523 | 3,688 | |
| (Increase)/decrease contract assets | 121 | –452 | |
| (Increase)/decrease trade and other receivables, prepayments | 1,040 | –2,701 | |
| Increase/(decrease) provisions | 48 | –8 | |
| Increase/(decrease) other liabilities | 64 | 336 | |
| Increase/(decrease) trade payables, contract liabilities and accrued trade expenses | –381 | 2,085 | |
| Income taxes paid | –1,011 | –486 | |
| Total cash flow from operating activities | 4,404 | 2,462 | |
| Cash flow from investing activities | |||
| Capital expenditure | |||
| — Property, plant and equipment | 26 | –239 | –197 |
| — Other intangibles | 28 | –8 | –7 |
| Disposal of property, plant and equipment | 91 | 22 | |
| (Acquisition)/divestment of businesses, net of cash (acquired)/disposed | 40 | –12 | –898 |
| Settlement of deferred/contingent considerations from business combinations | –70 | –4 | |
| Capital (contributions to)/distributions from joint ventures and associates | –7 | –4 | |
| Dividend received from joint ventures and associates | 3 | 4 | |
| Interest received | 19 | 4 | |
| Total cash flow from investing activities | –223 | –1,080 | |
| Cash flow from financing activities | |||
| Proceeds from sale of interest without loss of control | 40 | – | 372 |
| Repayment of other interest-bearing liabilities | –200 | –61 | |
| Repayment of lease liabilities | 27 | –518 | –493 |
| Interest paid on borrowings and other interest-bearing liabilities | –8 | –10 | |
| Interest paid on lease liabilities | 27 | –11 | –10 |
| Purchase of treasury shares | 32 | –646 | –59 |
| Dividend paid to equity holders of parent company | 32 | –1,186 | –538 |
| Dividend paid to non-controlling interests | –75 | –1 | |
| Total cash flow from financing activities | –2,644 | –800 | |
| Foreign exchange difference on cash and cash equivalents | –67 | 5 | |
| Increase/(decrease) in cash and cash equivalents | 1,470 | 587 | |
| Cash and cash equivalents at the beginning of the year, net | 31 | 2,300 | 1,713 |
| Cash and cash equivalents at the end of the year, net | 31 | 3,770 | 2,300 |