Financial Statements of ABB Ltd, Zurich

Income Statement

Year ended December 31 (CHF in thousands)

Note

2016

2015

Dividend income

8

2,000,000

3,000,000

Finance income

 

20,719

16,577

Other operating income

9

41,862

47,550

Finance expense

 

(67,035)

(26,099)

Personnel expenses

 

(38,039)

(32,030)

Other operating expenses

 

(29,344)

(29,940)

Net income before taxes

 

1,928,163

2,976,058

Income taxes

 

(3,352)

(2,341)

Net income

 

1,924,811

2,973,717

Balance Sheet

December 31 (CHF in thousands)

Note

2016

2015

Cash

 

739

835

Cash deposit with ABB Group Treasury Operations

2

841,331

1,979,217

Non-trade receivables

 

105

82

Non-trade receivables – Group

 

8,113

10,215

Accrued income and prepaid expenses – Group

 

1,828

3,329

Other short-term assets

 

697

Total current assets

 

852,116

1,994,375

 

 

 

 

Long-term loans – Group

5

510,675

Participation

3

8,973,229

8,973,229

Other long-term assets

 

3,810

4,944

Total non-current assets

 

9,487,714

8,978,173

Total assets

 

10,339,830

10,972,548

 

 

 

 

Non-trade payables

 

7,135

18,909

Non-trade payables – Group

 

1,763

1,797

Deferred income and accrued expenses

 

90,740

64,581

Deferred income and accrued expenses – Group

 

495

126

Interest-bearing liabilities

5

499,775

Total current liabilities

 

100,133

585,188

 

 

 

 

Interest-bearing liabilities

5

700,034

700,052

Interest-bearing liabilities – Group

5

510,675

Total non-current liabilities

 

1,210,709

700,052

Total liabilities

 

1,310,842

1,285,240

 

 

 

 

Share capital

7

265,769

1,990,679

Legal reserves

 

 

 

Legal reserves from capital contribution

7

30,430

30,430

Legal reserves from retained earnings

7

1,000,000

1,000,000

Free reserves

 

 

 

Other reserves

7

540,072

Retained earnings

7

7,327,872

5,647,858

Net income

 

1,924,811

2,973,717

Own shares

7

(1,519,894)

(2,495,448)

Total stockholders’ equity

 

9,028,988

9,687,308

Total liabilities and stockholders’ equity

 

10,339,830

10,972,548

Cash Flow Statement

Year ended December 31 (CHF in thousands)

Note

2016

2015

 

 

 

 

Operating activities:

 

 

 

Net income

 

1,924,811

2,973,717

 

 

 

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

Reversal of amortization other assets

 

1,831

1,840

Change in valuation of bonds

5

207

265

 

 

 

 

Changes in operating assets and liabilities:

 

 

 

Receivables

 

3,580

205

Current liabilities

 

14,720

48,991

Net cash provided by operating activities

 

1,945,149

3,025,018

 

 

 

 

Investing activities:

 

 

 

Loans granted to group companies

5

(510,675)

Net cash provided by investing activities

 

(510,675)

 

 

 

 

Financing activities:

 

 

 

Repayment of Bond 2011–2016

 5

(500,000)

New Loan granted by group companies

5

510,675

Purchase of own shares

7

(1,254,379)

(1,441,493)

Delivery of own shares

7

251,809

114,115

Dividends paid

7

(1,580,561)

(1,610,094)

thereof from Legal reserves from capital contribution

 7

(1,232,575)

thereof from nominal value reduction

 7

(1,580,561)

(377,519)

Net cash used in financing activities

 

(2,572,456)

(2,937,472)

Net change in cash and equivalents

 

(1,137,982)

87,546

 

 

 

 

Cash and equivalents, opening balance

 

1,980,052

1,892,506

Cash and equivalents, closing balance

 

842,070

1,980,052