Annual Report 2011
Adecco S.A. (Holding Company) –
Statements of operations
in millions, except share and per share information and compensation table data
For the fiscal years ended December 31 (in CHF) |
| 2011 | 2010 |
|
|
|
|
Operating income |
|
|
|
Royalties and license fees |
| 396 | 430 |
Dividends from subsidiaries |
| 142 | 23 |
Release of provisions on loans and investments, net |
|
| 37 |
Interest income from subsidiaries |
| 126 | 88 |
Interest income from third parties |
| 14 | 15 |
Financial income |
|
| 58 |
Other income |
| 17 | 14 |
Total operating income |
| 695 | 665 |
|
|
|
|
Operating expenses |
|
|
|
Interest expense to subsidiaries |
| (255) | (264) |
Interest expense to related parties |
| (2) | (3) |
Interest expense to third parties |
| (4) | (2) |
Charge to provisions on loans and investments, net |
| (230) |
|
Taxes |
| (5) | (10) |
Financial expense |
| (236) | (164) |
Other expenses (including depreciation of CHF 3 in both 2011 and 2010) |
| (105) | (118) |
Merger loss and loss on sale of investments |
|
| (38) |
Total operating expenses |
| (837) | (599) |
|
|
|
|
Net income/(loss) |
| (142) | 66 |
