Consolidated Statement of Cash Flows II

Consolidated statement of cash flows for the years ended 31 December
In CHF million  
Notes  2012 2011
 
Total net cash flows from operating activities
  1 542 –2 089
 
Cash flows from investing activities
 
Purchases of investments in associates
16  –10
Sales of investments in associates
16  0 0
Dividends received from associates
16  3 4
Purchases of property and equipment
  –33 –29
Sales of property and equipment
  3 2
Purchases of computer software and other intangible assets
  –22 –20
Acquisition of insurance portfolio, net of cash and cash equivalents
31  100
Acquisitions of subsidiaries, net of cash and cash equivalents
29  –1 –9
Disposals of subsidiaries, net of cash and cash equivalents
29  0
Total net cash flows from investing activities
  –50 38
 
Cash flows from financing activities
 
Issuance of debt instruments
  298 490
Repurchase of debt instruments
  –139
Redemption of debt instruments
  –1 –196
Distribution out of capital contribution reserve
  –144
Reduction in par value
  –143
Purchases of treasury shares
  –1 –9
Sales of treasury shares
  1 1
Purchases of non-controlling interests
  2
Capital contributions from non-controlling interests
  0 1
Borrowing costs paid
  –122 –112
Dividends paid to non-controlling interests
  0 –1
Total net cash flows from financing activities
  –106 31
 
Total change in cash and cash equivalents
  1 386 –2 020
 
Cash and cash equivalents as at 1 January
  5 084 6 940
Foreign currency differences
  10 164
Total change in cash and cash equivalents
  1 386 –2 020
Cash and cash equivalents as at end of period
  6 480 5 084
 
Components of cash and cash equivalents
 
Cash on hand and demand deposits
  3 700 2 615
Cash equivalents
  13 23
Cash and cash equivalents for the account and risk of the Swiss Life Group's customers
  2 767 2 446
Total cash and cash equivalents as at end of period
  6 480 5 084


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