HSBC 2014 Annual Report Download - page 110
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HSBC BANK PLC
Financial Statements (continued)
108
Consolidated cash flow statement for the year ended 31 December 2014
2014
2013
Notes
£m
£m
Cash flows from operating activities
Profit before tax
1,953
3,294
Adjustments for:
– non-cash items included in profit before tax
33
2,918
2,684
– change in operating assets
33
19,031
(53,006)
– change in operating liabilities
33
(58,960)
61,035
– elimination of exchange differences1
2,828
(623)
– net gain from investing activities
(359)
(130)
– share of profit in associates and joint ventures
(3)
–
– contributions paid to defined benefit plans
(254)
(393)
– tax paid
(579)
(363)
Net cash (used in)/generated from operating activities
(33,425)
12,498
Cash flows from investing activities
Purchase of financial investments
(26,890)
(32,298)
Proceeds from the sale and maturity of financial investments
26,132
32,472
Purchase of property, plant and equipment
(411)
(322)
Proceeds from the sale of property, plant and equipment
414
14
Purchase of goodwill and intangible assets
(231)
(199)
Proceeds from the sale of intangible assets
2
3
Net cash outflow from acquisition of businesses and subsidiaries
(61)
(406)
Proceeds from disposal of subsidiaries
112
12
Proceeds from sale of associates
23
–
Net cash disposed of on sale of subsidiaries
(457)
–
Purchases of HSBC Holdings plc shares to satisfy share-based payment transactions
(11)
–
Net cash used in investing activities
(1,378)
(724)
Cash flows from financing activities
Issue of ordinary share capital
306
402
Issue of capital securities
2,196
–
Subordinated liabilities issued
203
542
Subordinated liabilities repaid
(2,242)
(7)
Net cash inflow from change in stake of subsidiaries
77
–
Dividends paid to shareholders
(1,274)
(2,014)
Dividends paid to non-controlling interests
(16)
(22)
Net cash used in financing activities
(750)
(1,099)
Net (decrease)/increase in cash and cash equivalents
(35,553)
10,675
Cash and cash equivalents at 1 January
108,769
98,158
Effect of exchange rate changes on cash and cash equivalents
(1,716)
(64)
Cash and cash equivalents at 31 December
33
71,500
108,769
1 Adjustment to bring changes between opening and closing balance sheet amounts to average rates. This is not done on a line-by-line basis, as
details cannot be determined without unreasonable expense.
The accompanying notes on pages 113 to 195 and the audited sections of the ‘Report of the Directors: Risk’ on pages 31 to 83 and the
‘Report of the Directors: Capital Management’ on pages 84 to 93 form an integral part of these financial statements.