Balance sheet
| In CHF million, except where indicated | 30.09.2017 | 31.12.2016 | Change | |||
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash and cash equivalents and current financial assets | 414 | 506 | –18.2% | |||
| Trade and other receivables | 2,580 | 2,532 | 1.9% | |||
| Property, plant and equipment | 10,405 | 10,177 | 2.2% | |||
| Goodwill | 5,195 | 5,156 | 0.8% | |||
| Other intangible assets | 1,732 | 1,756 | –1.4% | |||
| Investments in associates and non-current financial assets | 446 | 455 | –2.0% | |||
| Tax assets | 245 | 299 | –18.1% | |||
| Other current and non-current assets | 622 | 573 | 8.6% | |||
| Total assets | 21,639 | 21,454 | 0.9% | |||
| Liabilities and equity | ||||||
| Financial liabilities | 8,419 | 8,496 | –0.9% | |||
| Trade and other payables | 1,893 | 1,896 | –0.2% | |||
| Defined benefit obligations | 1,297 | 1,850 | –29.9% | |||
| Provisions | 913 | 962 | –5.1% | |||
| Tax liabilities | 936 | 746 | 25.5% | |||
| Other current and non-current liabilities | 1,033 | 982 | 5.2% | |||
| Total liabilities | 14,491 | 14,932 | –3.0% | |||
| Share of equity attributable to equity holders of Swisscom Ltd | 7,158 | 6,514 | 9.9% | |||
| Share of equity attributable to non-controlling interests | (10) | 8 | –225.0% | |||
| Total equity | 7,148 | 6,522 | 9.6% | |||
| Total liabilities and equity | 21,639 | 21,454 | 0.9% | |||
| Equity ratio at end of period | 33.0% | 30.4% | ||||
| Net debt | 7,868 | 7,846 | 0.3% | |||
Total assets at 30 September 2017 amounted to CHF 21,639 million, which equates to an increase of CHF 185 million or 0.9% versus the end of 2016. The increase is mainly due to the higher property, plant and equipment. Defined benefit obligations decreased by CHF 553 million to CHF 1,297 million, mainly due to income from plan assets and the higher discount rate. Equity rose by CHF 626 million to CHF 7,148 million, which corresponds to an equity ratio of 33.0% (30.4% as at 31 December 2016). The dividend payment amounted to CHF 1,140 million, compared to net income of CHF 1,269 million and other net positive effects recognised in equity of CHF 550 million. Compared to the end of 2016, the cumulative currency translation losses included in equity remained unchanged at around CHF 1.7 billion.
Net debt comprises financial liabilities less cash and cash equivalents, current financial assets and non-current, fixed-interest-bearing deposits. Swisscom targets a net debt/EBITDA ratio of around 1.9.