Balance sheet
| In CHF million, except where indicated | 31.3.2018 | 01.01.2018 1 | Change | |||
|---|---|---|---|---|---|---|
| Property, plant and equipment | 10,732 | 10,697 | 0.3% | |||
| Goodwill | 5,190 | 5,186 | 0.1% | |||
| Intangible assets | 1,653 | 1,758 | –6.0% | |||
| Trade receivables | 2,273 | 2,359 | –3.6% | |||
| Trade payables | (1,624) | (1,753) | –7.4% | |||
| Provisions | (1,036) | (1,077) | –3.8% | |||
| Deferred gain on sale and leaseback of real estate | (143) | (146) | –2.1% | |||
| Other operating assets and liabilities, net | 134 | (44) | – | |||
| Net operating assets | 17,179 | 16,980 | 1.2% | |||
| Net debt | (7,294) | (7,447) | –2.1% | |||
| Defined benefit obligations | (991) | (1,048) | –5.4% | |||
| Income tax assets and liabilities, net | (756) | (806) | –6.2% | |||
| Equity-accounted investees and other non-current financial assets | 261 | 264 | –1.1% | |||
| Equity | 8,399 | 7,943 | 5.7% | |||
| Equity ratio at end of period (in %) | 36.8 | 36.0 | ||||
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1 Including cumulative effect of initially applying IFRS 9 and IFRS 15.
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Equity rose due to the increase in net income by CHF 456 million or 5.7% to CHF 8,399 million, which corresponds to an equity ratio of 36.8% (36.0% as at 1 January 2018). Cumulative currency translation losses included in equity remained unchanged from the end of 2017 at around CHF 1.7 billion.