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:
After deducting 802 treasury shares (prior year: 446 shares), the balance of shares outstanding as at 31 December 2013 totalled 51,801,141 (prior year: 51,801,497 shares).
The hedging reserves comprise the changes in the fair value of hedging instruments which were designated as cash flow hedges. Changes in the fair value of available-for-sale financial assets are recognised in the fair value reserves. Reserves arising from foreign currency translation adjustments comprise the differences from the foreign currency translation of the financial statements of subsidiaries and associates from the functional currency into Swiss francs. In the third quarter of 2013, Swisscom took up a debenture bond and a long-term bank loan aggregating EUR 800 million (CHF 980 million), which were designated for hedge accounting in respect of net investments in foreign subsidiaries. On 31 December 2013, cumulative foreign currency translation losses at Fastweb amounted to CHF 1,917 million (prior year: CHF 1,978 million).
Other comprehensive income
Other comprehensive income in 2013 may be analysed as follows:
Other comprehensive income in 2012 may be analysed as follows: