Financial Statements of ABB Ltd, Zurich

Income Statement

Year ended December 31 (CHF in thousands)

Note

2015

2014

Dividend income

8

3,000,000

600,000

Finance income

 

16,577

27,216

Other operating income

9

47,550

43,734

Finance expense

 

(26,099)

(34,175)

Personnel expenses

 

(32,030)

(40,479)

Other operating expenses

 

(29,940)

(25,592)

Net income before taxes

 

2,976,058

570,704

Income taxes

 

(2,341)

(597)

Net income

 

2,973,717

570,107

Balance Sheet

December 31 (CHF in thousands)

Note

2015

2014

Cash

 

835

1,012

Cash deposit with ABB Group Treasury Operations

2

1,979,217

1,891,494

Non-trade receivables

 

82

944

Non-trade receivables – Group

 

10,215

7,687

Accrued income and prepaid expenses

 

2,100

Accrued income and prepaid expenses – Group

 

3,329

3,100

Other short-term assets

 

697

Total current assets

 

1,994,375

1,906,337

 

 

 

 

Participation

3

8,973,229

8,973,229

Other long-term assets

 

4,944

7,481

Total non-current assets

 

8,978,173

8,980,710

Total assets

 

10,972,548

10,887,047

 

 

 

 

Non-trade payables

 

18,909

10,717

Non-trade payables – Group

 

1,797

738

Deferred income and accrued expenses

 

64,581

23,734

Deferred income and accrued expenses – Group

 

126

1,233

Interest-bearing liabilities

5

499,775

Total current liabilities

 

585,188

36,422

 

 

 

 

Interest-bearing liabilities

5

700,052

1,199,562

Total non-current liabilities

 

700,052

1,199,562

Total liabilities

 

1,285,240

1,235,984

 

 

 

 

Share capital

7

1,990,679

2,384,186

Legal reserves

 

 

 

Legal reserves from capital contribution

7

30,430

1,263,005

Legal reserves from retained earnings

7

1,000,000

1,000,000

Free reserves

 

 

 

Other reserves

7

540,072

535,171

Retained earnings

7

5,647,858

5,077,751

Net income

 

2,973,717

570,107

Own shares

7

(2,495,448)

(1,179,157)

Total stockholders’ equity

 

9,687,308

9,651,063

Total liabilities and stockholders’ equity

 

10,972,548

10,887,047

Cash Flow Statement

Year ended December 31 (CHF in thousands)

Note

2015

2014

Operating activities:

 

 

 

Net income

 

2,973,717

570,107

 

 

 

 

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

 

 

 

Reversal of amortization other assets

 

1,840

1,993

Change in valuation of bonds

 

265

263

 

 

 

 

Changes in operating assets and liabilities:

 

 

 

Receivables

 

205

(704)

Current liabilities

 

48,991

(17,697)

Net cash provided by operating activities

 

3,025,018

553,962

 

 

 

 

Investing activities:

 

 

 

Repayment of loans granted to Group companies

 

900 000

Net cash provided by investing activities

 

0

900,000

 

 

 

 

Financing activities:

 

 

 

Purchase of own shares

7

(1,441,493)

(945,303)

Delivery of own shares

7

114,115

64,344

Dividends paid

 

 

 

from Legal reserves from capital contribution

7

(1,232,575)

(1,378,517)

from par value reduction

7

(377,519)

Net cash used in financing activities

 

(2,937,472)

(2,259,476)

Net change in cash and equivalents

 

87,546

(805,514)

 

 

 

 

Cash and equivalents, opening balance

 

1,892,506

2,698,020

Cash and equivalents, closing balance

 

1,980,052

1,892,506