HSBC 2012 Annual Report Download - page 377

375
Overview Operating & Financial Review Corporate Governance Financial Statements Shareholder Information
Consolidated statement of cash flows for the year ended 31 December 2012
2012 2011 2010
Notes US$m US$m US$m
Cash flows from operating activities
Profit before tax ............................................................................................... 20,649 21,872 19,037
Adjustments for:
– net gain from investing activities ............................................................. (2,094) (1,196) (1,698)
– share of profits in associates and joint ventures ...................................... (3,557) (3,264) (2,517)
– gain on disposal of US branch network, US cards business and
Ping An Insurance (Group) Company of China, Limited ...................... (7,024) – –
– other non-cash items included in profit before tax .................................. 39 19,778 19,878 18,887
– change in operating assets ........................................................................ 39 (116,521) (7,412) (13,267)
– change in operating liabilities .................................................................. 39 89,070 44,012 42,272
– elimination of exchange differences3 ....................................................... (3,626) 10,840 (1,799)
– dividends received from associates .......................................................... 489 304 441
– contributions paid to defined benefit plans .............................................. (733) (1,177) (3,321)
– tax paid ..................................................................................................... (5,587) (4,095) (2,293)
Net cash (used in)/generated from operating activities ................................... (9,156) 79,762 55,742
Cash flows from investing activities
Purchase of financial investments ................................................................... (342,974) (319,008) (341,202)
Proceeds from the sale and maturity of financial investments ....................... 329,926 311,702 321,846
Purchase of property, plant and equipment ..................................................... (1,318) (1,505) (2,533)
Proceeds from the sale of property, plant and equipment ............................... 241 300 4,373
Proceeds from the sale of loan portfolios ........................................................ – – 4,243
Net purchase of intangible assets .................................................................... (1,008) (1,571) (1,179)
Net cash outflow from acquisition of subsidiaries .......................................... – – (86)
Net cash inflow from disposal of US branch network and US
cards business ............................................................................................... 20,905 – –
Net cash inflow/(outflow) from disposal of other subsidiaries
and businesses ............................................................................................. (863) 216 466
Net cash outflow from acquisition of or increase in stake of associates ........ (1,804) (90) (1,589)
Net cash outflow from the deconsolidation of funds ...................................... – – (19,566)
Proceeds from disposal of Ping An Insurance (Group) Company of China,
Limited ......................................................................................................... 1,954 – –
Proceeds from disposal of other associates and joint ventures ....................... 594 25 254
Net cash generated/(used) in investing activities ............................................ 5,653 (9,931) (34,973)
Cash flows from financing activities
Issue of ordinary share capital ......................................................................... 594 96 180
Issue of other equity instruments .................................................................... – – 3,718
Net sales/(purchases) of own shares for market-making and
investment purposes .................................................................................... (25) (225) 163
Net sales/(purchases) of own shares to meet share awards and share
option awards .............................................................................................. – (136) 11
On exercise of share options ........................................................................... – – 2
Subordinated loan capital issued ..................................................................... 37 7 4,481
Subordinated loan capital repaid ..................................................................... (1,754) (3,777) (2,475)
Net cash inflow/(outflow) from change in stake in subsidiaries .................... (14) 104 (229)
Dividends paid to shareholders of the parent company .................................. (5,925) (5,014) (3,441)
Dividends paid to non-controlling interests .................................................... (572) (568) (595)
Dividends paid to holders of other equity instruments ................................... (573) (573) (413)
Net cash generated from/(used in) financing activities ................................... (8,232) (10,086) 1,402
Net increase/(decrease) in cash and cash equivalents ................................ (11,735) 59,745 22,171
Cash and cash equivalents at 1 January .......................................................... 325,449 274,076 250,766
Exchange differences in respect of cash and cash equivalents ....................... 1,594 (8,372) 1,139
Cash and cash equivalents at 31 December .................................................... 39 315,308 325,449 274,076
The accompanying notes on pages 383 to 515 form an integral part of these financial statements1.
For footnote, see page 382.