Condensed Consolidated Statement of Cash Flows (unaudited)

Consolidated statement of cash flows for the 6 months ended 30 June
In CHF million  
Notes  2011 HY 2010 HY
 
Total net cash flows from operating activities
  –1 835 –924
 
Cash flows from investing activities
 
Purchases of investments in associates
  –10
Sales of investments in associates
  0
Dividends received from associates
  3 3
Purchases of property and equipment
  –4 –20
Sales of property and equipment
  1 43
Purchases of computer software and other intangible assets
  –7 –6
Acquisition of insurance portfolio, net of cash and cash equivalents
18  100
Acquisitions of subsidiaries, net of cash and cash equivalents
17  –9
Total net cash flows from investing activities
  74 20
 
Cash flows from financing activities
 
Issuance of debt instruments
  394 52
Redemption of debt instruments
  –1 –202
Purchases of treasury shares
  –6
Sales of treasury shares
  8
Capital contributions from non-controlling interests
  0
Borrowing costs paid
  –61 –70
Dividends paid to non-controlling interests
  0 0
Total net cash flows from financing activities
  326 –212
 
Total change in cash and cash equivalents
  –1 435 –1 116
 
Cash and cash equivalents as at 1 January
  6 940 8 683
Foreign currency differences
  –149 –401
Total change in cash and cash equivalents
  –1 435 –1 116
Cash and cash equivalents as at end of period
  5 356 7 166