Consolidated Statement of Cash Flow II
 
 
Consolidated statement of cash flows for the years ended 31 December
In CHF million  20082007
 
Balance carried forward from previous page  6 533334
 
Cash flows from financing activities 
Issuance of subordinated perpetual notes  1 140
Issuance of other debt instruments  413208
Redemption of debt instruments  –705–266
Reduction in par value  –547–234
Premiums paid/received for options on own shares  –6
Purchases of treasury shares  –711–1 313
Sales of treasury shares  144754
Capital contributions from minority interest  1024
Borrowing costs paid  –172–136
Dividends paid to minority interest  –4–12
Total net cash flows from financing activities  –1 572159
 
Total change in cash and cash equivalents  4 961493
 
Cash and cash equivalents as at 1 January  4 5557 621
Classification as assets held for sale  –3 591
Effect of exchange rate differences  –10832
Total change in cash and cash equivalents  4 961493
Cash and cash equivalents as at 31 December  9 4084 555
 
Components of cash and cash equivalents 
Cash on hand and demand deposits  3 8871 725
Cash equivalents  4 2341 012
Cash and cash equivalents for the account and risk of the Swiss Life Group's customers  1 2871 818
Total cash and cash equivalents as at 31 December  9 4084 555