Annual Report 2011

Adecco S.A. (Holding Company) –
Balance sheets
in millions, except share and per share information and compensation table data

As of (in CHF)

 

31.12.2011

31.12.2010

 

 

 

 

Assets

 

 

 

Current assets:

 

 

 

• Cash and cash equivalents

 

45

18

• Receivables from subsidiaries

 

52

85

• Accrued income, prepaid expenses, and withholding taxes

 

19

28

Total current assets

 

116

131

 

 

 

 

Non-current assets:

 

 

 

• Investments in subsidiaries

 

10,323

10,206

• Loans to subsidiaries

 

3,236

3,036

• Provisions on investments in and loans to subsidiaries

 

(843)

(618)

• Treasury shares

 

912

874

• Intangible assets

 

135

137

• Other assets

 

11

10

Total non-current assets

 

13,774

13,645

 

 

 

 

Total assets

 

13,890

13,776

 

 

 

 

Liabilities and shareholders’ equity

 

 

 

Liabilities

 

 

 

Current liabilities:

 

 

 

• Amounts due to subsidiaries

 

224

246

• Short-term liabilities to related parties

 

92

61

• Other current liabilities

 

62

76

Total current liabilities

 

378

383

 

 

 

 

Non-current liabilities:

 

 

 

• Long-term debt to subsidiaries

 

5,945

5,411

• Long-term liabilities to related parties

 

900

987

• Provisions and non-current liabilities

 

21

16

Total non-current liabilities

 

6,866

6,414

 

 

 

 

Total liabilities

 

7,244

6,797

 

 

 

 

Shareholders’ equity

 

 

 

Share capital

 

189

189

General reserves:

 

 

 

• Reserve from capital contributions

 

1,505

1,696

• Other reserves

 

407

407

Reserve for treasury shares

 

1,092

874

Retained earnings

 

3,453

3,813

Total shareholders’ equity

 

6,646

6,979

 

 

 

 

Total liabilities and shareholders’ equity

 

13,890

13,776

Certain reclassifications have been made to prior year amounts and balances to conform to the current year presentation.