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Note 2 Investment income and expenses

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CHF millions

2011

2012

Cash dividends from subsidiaries and affiliated companies

3 836

Dividends in-kind from subsidiaries and affiliated companies

5 810

Realised gains on sale of investments

19

Income from short-term investments

0

Income from loans to subsidiaries and affiliated companies

9

Other interest revenues

0

Investment income

9 674

 

 

 

 

 

 

CHF millions

2011

2012

Valuation adjustments on investments in subsidiaries and affiliated companies

–6 960

Valuation adjustments on own shares

–30

Realised losses on sale of investments

–3

0

Investment management expenses

–1

Other interest expenses

0

Investment expenses

–33

–6 961