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Post-employment benefits
Defined benefit plans Swisscom maintains several pension plans for employees in Switzerland and Italy. Expenses of defined benefit plans totalled CHF 295 million in 2013 (prior year: CHF 80 million). Of this amount, CHF 258 million (prior year: CHF 50 million) was recorded as personnel expense and CHF 37 million (prior year: CHF 30 million) as finance expense. comPlan The majority of Swisscom’s employees are insured for the risks of old age, death and disability by the independent pension plan, comPlan. The benefits of comPlan exceed the minim...
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Results of operations
Income statement In CHF million, except where indicated 2013 2012 Change Swisscom Switzerland 8,389 8,407 –0.2% Fastweb 2,013 2,040 –1.3% Other operating segments 1,032 936 ...
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Remuneration paid to the Group Executive Board
Principles The remuneration policy of Swisscom applicable to the Group Executive Board is designed to retain highly skilled and motivated specialists and executive staff over the long term and provide an incentive to achieve a lasting increase in the enterprise value. It is systematic, transparent and long-term oriented and is predicated on the following principles: Total remuneration is competitive and is in an appropriate relation to the market as well as the internal salary structure. Remuneration is based on performance in line with the res...
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Notes to the financial statements
1 General information The financial statements of Swisscom Ltd, the parent company of the Swisscom Group, comply with Swiss law. 2 Contingent liabilities At 31 December 2013, guarantees in favour of third parties for the account of Group companies amount to CHF 142 million (prior year: CHF 308 million). 3 Fire insurance values of property, plant and equipment The fire insurance values of property, plant and equipment correspond generally to their replacement value or fair value. 4 Amounts payable to pension funds As in the prior year, ther...
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Personnel expense
In CHF million 2013 2012 Change Salary and wage costs 2,132 2,058 3.6% Social security expenses 224 222 0.9% Pension cost 269 62 333.9% ...
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Index of keywords
Search ... Board of Directors Capital expenditure Compensation paid to members of the Board of Directors and the Group Executive Board ...
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Significant accounting judgments, estimates and assumptions in applying accounting policies
The preparation of consolidated financial statements is dependent upon estimates and assumptions being made in applying the accounting policies for which management can exercise a certain degree of judgment. In applying the relevant accounting policies to the consolidated financial statements, certain assumptions and estimates must be made about the future that may have a critical influence on the amount and presentation of assets and liabilities, revenues and expenses as well as the disclosures in the Notes. The estimates used in drawing up the conso...
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Summary of significant accounting policies
3 Summary of significant accounting policies 3.1 Consolidation Subsidiaries Subsidiaries are all companies over which Swisscom Ltd has the effective ability of controlling their financial and business policies. Control is generally presumed where Swisscom Ltd directly or indirectly holds the majority of the voting rights or potential voting rights of the company. Subsidiaries are included in consolidation from the date on which they are acquired and deconsolidated from the date they are disposed of. Intercompany balances and transactions, income an...
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Related parties
Majority shareholder Pursuant to the Swiss Federal Telecommunication Enterprises Act (“Telekommunikationsunternehmungsgesetz, TUG”), the Swiss Confederation (“the Confederation”) is obligated to hold a majority of the share capital and voting rights of Swisscom. On 31 December 2013, the Confederation as majority shareholder held 51.2% (prior year: 56.8%) of the issued shares of Swisscom Ltd. Any reduction of the Confederation’s holding below a majority would require a change in law which would need to be voted upon the Federal Assembly, w...
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Additional information concerning equity
Share capital and treasury shares As of 31 December 2013, the total number of shares issued remained unchanged from the prior year at 51,801,943 shares. All shares have a par value of CHF 1 and are fully paid up. Each share entitles the holder to one vote. Shares with a market value aggregating CHF 6 million (prior year: CHF 6 million) were allocated for share-based compensation plans. See Note 11. The holdings of treasury shares have changed as follows: Number Averag...
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