Financial Statements of ABB Ltd, Zurich

Income Statement

Year ended December 31 (CHF in thousands)

Note

2014

2013

Dividend income

 

600,000

600,000

Finance income

 

27,216

35,914

Other operating income

9

43,734

39,660

Revaluation gain on own shares

10

42,887

Finance expense

 

(34,175)

(32,062)

Personnel expenses

 

(40,479)

(50,608)

Other operating expenses

 

(25,592)

(25,946)

Net income before taxes

 

570,704

609,845

Income taxes

 

(597)

(2,792)

Net income

 

570,107

607,053

Balance Sheet

December 31 (CHF in thousands)

Note

2014

2013

Certain prior-year amounts have been reclassified to conform to current year’s presentation and have been marked with an asterisk (*).

Cash

 

1,012

853

Cash deposit with ABB Group Treasury Operations

2

1,891,494

2,697,167

Non-trade receivables

 

944

559

Non-trade receivables – Group

 

7,687

7,630

Accrued income and prepaid expenses

 

2,100

1,600

Accrued income and prepaid expenses – Group

 

3,100

3,338

Total current assets

 

1,906,337

2,711,147

 

 

 

 

Long-term loans – Group

3

900,000

Participation

4

8,973,229

8,973,229

Other long-term assets

 

7,481

9,474

Total non-current assets

 

8,980,710

9,882,703

Total assets

 

10,887,047

12,593,850

 

 

 

 

Non-trade payables

 

10,717

5,092

Non-trade payables – Group

 

738

1,270

Deferred income and accrued expenses

 

23,734

46,460

Deferred income and accrued expenses – Group

 

1,233

1,297

Total current liabilities

 

36,422

54,119

 

 

 

 

Interest-bearing liabilities

6

1,199,562

1,199,299

Total non-current liabilities

 

1,199,562

1,199,299

Total liabilities

 

1,235,984

1,253,418

 

 

 

 

Share capital

8

2,384,186

2,384,186

Legal reserves

 

 

 

Legal reserves from capital contribution

8

1,263,005

2,641,522

Legal reserves from retained earnings

8

1,000,000

1,000,000

Free reserves

 

 

 

Other reserves*

8

535,171

533,396

Retained earnings

8

5,077,751

4,470,698

Net income

 

570,107

607,053

Own shares*

8

(1,179,157)

(296,423)

Total stockholders’ equity

 

9,651,063

11,340,432

Total liabilities and stockholders’ equity

 

10,887,047

12,593,850

Cash Flow Statement

Year ended December 31 (CHF in thousands)

Note

2014

2013

Operating activities

 

 

 

Net income

 

570,107

607,053

 

 

 

 

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

 

 

 

Reversal of revaluation gain on own shares

 

(42,887)

Reversal of amortization other assets

 

1,993

1,975

Change in valuation of bonds

 

263

259

 

 

 

 

Changes in operating assets and liabilities

 

 

 

Receivables

 

(704)

8,288

Current liabilities

 

(17,697)

3,768

Net cash provided by operating activities

 

553,962

578,456

 

 

 

 

Investing activities

 

 

 

Repayment of loans granted to group companies

3

900,000

Net cash provided by investing activities

 

900,000

 

 

 

 

Financing activities

 

 

 

Purchase of own shares

8

(945,303)

Delivery of own shares

8

64,344

98,851

Dividends paid

8

(1,378,517)

(1,327,353)

Net cash used in financing activities

 

(2,259,476)

(1,228,502)

Net change in cash and equivalents

 

(805,514)

(650,046)

 

 

 

 

Cash and equivalents, opening balance

 

2,698,020

3,348,066

Cash and equivalents, closing balance

 

1,892,506

2,698,020