HSBC 2009 Annual Report Download - page 363

361
HSBC Holdings statement of cash flows for the year ended 31 December 2009
2009 2008
Notes US$m US$m
Cash flows from operating activities
Profit before tax ........................................................................................................................... (2,058) 7,931
Adjustments for:
– non-cash items included in profit before tax ....................................................................... 38 5,974 3,619
– change in operating assets .................................................................................................... 38 (11,077) 3,263
– change in operating liabilities .............................................................................................. 38 2,040 (2,035)
– elimination of exchange differences2 ................................................................................... 1 –
– tax (paid)/received ................................................................................................................ 266 (370)
Net cash (used in)/generated from operating activities ............................................................... (4,854) 12,408
Cash flows from investing activities
Purchase of financial investments ............................................................................................... – (300)
Proceeds from sale of financial investments ............................................................................... 275 349
Purchase of property, plant and equipment ................................................................................. (2) (5)
Net cash outflow from acquisition of or increase in stake of subsidiaries ................................. (10,344) (14,320)
Net cash used in investing activities ........................................................................................... (10,071) (14,276)
Cash flows from financing activities
Issue of ordinary share capital ..................................................................................................... 18,333 467
– rights issue ............................................................................................................................ 18,261 –
– other ...................................................................................................................................... 72 467
Issue of other equity instruments ................................................................................................ – 2,133
Purchases of own shares to meet share awards and share option awards ................................... – (54)
On exercise of share options ....................................................................................................... 12 3
Subordinated loan capital issued ................................................................................................. 2,456 6,705
Subordinated loan capital repaid ................................................................................................. (4,380) –
Debt securities issued .................................................................................................................. 2,818 –
Dividends paid ............................................................................................................................. (4,264) (7,211)
Dividends paid to holders of other equity instruments ............................................................... (269) (92)
Net cash generated from financing activities .............................................................................. 14,706 1,951
Net increase/(decrease) in cash and cash equivalents ............................................................ (219) 83
Cash and cash equivalents at 1 January ...................................................................................... 443 360
Cash and cash equivalents at 31 December ................................................................................ 38 224 443
For footnote, see page 364.
The accompanying notes on pages 365
to 471, the audited sections of ‘Report of the Directors: Risk’ on pages 196 to 293, ‘Critical
accounting policies’ on pages 61 to 65 and the audited sections of ‘Report of the Directors: Impact of Market Turmoil’ on pages 151 to
195 form an integral part of these financial statements.