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Annual Report 2016

7 Change in shareholders’ equity

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CHF millions

Share capital

Legal capital reserves

Legal profit reserves

Reserves for own shares

Voluntary profit reserves

Retained earnings brought forward

Net income for the financial year

Own shares

Total Share­holders’ equity

Shareholders’ equity 1.1.2016

37

257

9 168

18

9 550

4

3 865

–1 430

21 469

Allocations relating to the dividend paid

 

 

 

 

3 865

 

–3 865

 

0

Dividend for the financial year 2015

 

 

 

 

–1 525

 

 

 

–1 525

Net income for the financial year

 

 

 

 

 

 

3 972

 

3 972

Share buy-back programme 20151

 

 

 

 

 

 

 

–570

–570

Share cancellation1

–1

–96

–903

 

 

 

 

1 000

0

Share buy-back programme 20162

 

 

 

 

 

 

 

–521

–521

Other movements in own shares

 

31

 

–1

 

 

 

–34

–4

Shareholders’ equity 31.12.2016

36

192

8 265

17

11 890

4

3 972

–1 555

22 821

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CHF millions

Share capital

Legal capital reserves

Legal profit reserves

Reserves for own shares

Voluntary profit reserves

Retained earnings brought forward

Net income for the financial year

Own shares

Total Share­holders’ equity

1

At the 151st Annual General Meeting held on 21 April 2015, the Group’s shareholders authorised the Group Board of Directors to repurchase up to a maximum CHF 1 billion purchase value of the Group’s own shares prior to the 2016 Annual General Meeting through a public share buy-back programme for cancellation purposes. The buy-back programme was completed on 2 March 2016. The total number of shares repurchased amounted to 10.6 million, of which 4.4 million and 6.2 million shares were repurchased by 31 December 2015 and between 1 January and 2 March 2016, respectively. On 22 April 2016, the 152nd Annual General Meeting resolved the cancellation of the repurchased 10.6 million shares by way of share capital reduction. The shares were cancelled on 18 July 2016, after completion of the procedure in respect of a share capital reduction as set forth in Article 732 et seqq. of the Swiss Code of Obligation.

2

At the 152nd Annual General Meeting held on 22 April 2016, the Group’s shareholders authorised the Group Board of Directors to repurchase up to a maximum CHF 1 billion purchase value of the Group’s own shares prior to the 2017 Annual General Meeting through a public share buy-back programme for cancellation purposes.

Shareholders’ equity 1.1.2015

37

2 682

9 177

9

5 440

4

4 110

–956

20 503

Allocations relating to the dividend paid

 

–2 490

 

 

6 600

 

–4 110

 

0

Dividend for the financial year 2014

 

 

 

 

–2 490

 

 

 

–2 490

Net income for the financial year

 

 

 

 

 

 

3 865

 

3 865

Share buy-back programme 20151

 

 

 

 

 

 

 

–430

–430

Other movements in own shares

 

65

–9

9

 

 

 

–44

21

Shareholders’ equity 31.12.2015

37

257

9 168

18

9 550

4

3 865

–1 430

21 469