Consolidated Balance Sheet

CHF million	Note	December 31, 2016		December 31, 2015

ASSETS
Property, plant, and equipment	7	1,240.4		1,150.3
Intangible assets	8	1,424.4		1,393.9
Financial assets	9	1,302.2		1,571.3
Deferred tax assets	10	87.3		31.8
Total non-current assets		4,054.3	63.1%	4,147.3	66.3%

Inventories	11	657.6		647.5
Accounts receivable	12	994.5		907.1
Other receivables		109.0		122.4
Accrued income		10.9		4.1
Derivative assets	13	10.1		26.1
Marketable securities and short-term financial assets	14	0.2		0.2
Cash and cash equivalents	15	592.2		404.3
Total current assets		2,374.5	36.9%	2,111.7	33.7%

Total assets		6,428.8	100.0%	6,259.0	100.0%

LIABILITIES
Share and participation capital	16	23.7		23.5
Treasury stock		– 100.3		– 113.1
Retained earnings and other reserves		3,743.8		3,575.1
Equity attributable to shareholders		3,667.2		3,485.5
Non-controlling interests		6.8		4.2
Total equity		3,674.0	57.1%	3,489.7	55.7%

Bonds	17	747.7		997.1
Loans	17	1.2		1.8
Deferred tax liabilities	10	433.5		461.7
Pension liabilities	18	191.7		209.7
Other non-current liabilities		7.6		8.4
Provisions	19	114.2		103.6
Total non-current liabilities		1,495.9	23.3%	1,782.3	28.5%

Accounts payable to suppliers	20	180.4		183.3
Other accounts payable		46.8		50.6
Current tax liabilities		39.4		28.0
Accrued liabilities	21	618.3		608.6
Derivative liabilities	13	57.6		29.4
Bonds	17	249.9		–
Bank and other borrowings	17	66.5		87.1
Total current liabilities		1,258.9	19.6%	987.0	15.8%

Total liabilities		2,754.8	42.9%	2,769.3	44.3%

Total liabilities and shareholders’ equity		6,428.8	100.0%	6,259.0	100.0%

The accompanying notes form an integral part of the consolidated statements.