Cathay Pacific 2003 Annual Report Download - page 40

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38 Cathay Pacific Airways Limited Annual Report 2003
Consolidated Cash Flow Statement
for the year ended 31st December 2003
2003 2002 2003 2002
Note
HK$M HK$M US$M US$M
Operating activities
Cash generated from operations
22
6,370 9,300 817 1,192
Interest received 49 103 613
Net interest paid (928) (1,021) (119) (131)
Tax paid (815) (394) (104) (50)
Dividends received from associated companies 187 133 24 17
Net cash inflow from operating activities 4,863 8,121 624 1,041
Investing activities
Sales of fixed assets 27 623 380
Net decrease in long-term receivables and investments 84 110 11 14
Receipts from disposal of partial interest in a
subsidiary company 9148 119
Sales of other liquid investments 562 150 72 19
Repayment of loan from an associated company 24
-
1
Receipts from disposal of an associated company
-
5
-
1
Sales/(investments) of funds with
investment managers 620 (2,484) 80 (319)
Purchase of minority interest in a subsidiary company
-
(194)
-
(25)
Net increase in short-term deposits maturing
beyond three months (425) (11) (54) (1)
Payments for fixed and intangible assets (5,147) (2,790) (660) (358)
Net cash outflow from investing activities (4,268) (4,439) (547) (569)
Financing activities
New financing 6,765 2,451 867 314
Net cash benefit from financing arrangements 735
-
94
-
Shares issued 56 46 76
Security deposits placed (70) (774) (9) (99)
Loan and finance lease repayments (4,995) (3,965) (640) (508)
Dividends paid
-
to shareholders (1,035) (701) (133) (90)
-
to minority interests (20) (39) (3) (5)
Net cash inflow/(outflow) from financing activities 1,436 (2,982) 183 (382)
Increase in cash and cash equivalents 2,031 700 260 90
Cash and cash equivalents at 1st January 3,422 2,601 439 333
Effect of exchange differences 196 121 25 16
Cash and cash equivalents at 31st December
23
5,649 3,422 724 439
The US$ figures are for information only and are translated at HK$7.8.
The notes on pages 41 to 65 form part of these accounts.