Consolidated Statement of Cash Flow II

Consolidated statement of cash flows for the years ended 31 December
In CHF million 
Notes  20092008
 
Total net cash flows from operating activities
  –2104 360
 
Cash flows from investing activities
 
Purchases of investments in associates
15  –2–530
Sales of investments in associates
  123
Dividends received from associates
15  59
Purchases of property and equipment
  –45–236
Sales of property and equipment
  333
Purchases of computer software and other intangible assets
  –14–10
Acquisitions of non-controlling interests
  –64
Acquisitions of subsidiaries, net of cash and cash equivalents
28  –13–1 211
Disposals of subsidiaries, net of cash and cash equivalents
28  384 118
Total net cash flows from investing activities
  312 173
 
Cash flows from financing activities
 
Issuance of debt instruments
  90413
Repurchase of debt instruments
  –113
Redemption of debt instruments
  –277–705
Reduction in par value
  –159–547
Purchases of treasury shares
  –127–711
Sales of treasury shares
  227144
Capital contributions from non-controlling interests
  010
Borrowing costs paid
  –159–172
Dividends paid to non-controlling interests
  0–4
Total net cash flows from financing activities
  –518–1 572
 
Total change in cash and cash equivalents
  –6974 961
 
Cash and cash equivalents as at 1 January
  9 4084 555
Foreign currency translation differences
  –28–108
Total change in cash and cash equivalents
  –6974 961
Cash and cash equivalents as at end of period
  8 6839 408
 
Components of cash and cash equivalents
 
Cash on hand and demand deposits
  5 7243 887
Cash equivalents
  1 0494 234
Cash and cash equivalents for the account and risk of the Swiss Life Group's customers
  1 9101 287
Total cash and cash equivalents as at end of period
  8 6839 408