Cathay Pacific 1999 Annual Report Download - page 51

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Notes to the Accounts – Cash Flow Statement
55CATHAY PACIFIC AIRWAYS LIMITED ANNUAL REPORT 1999
24. Analysis of payments for fixed assets
1999 1998
HK$M HK$M
Additions to fixed assets (3,992) (9,685)
Finance raised on assets acquired under
finance leases (note 12) 1,341 4,611
Payments for fixed assets (2,651) (5,074)
25. Analysis of changes in financing
Long-term Obligations
loans, bonds under
and other finance Minority
liabilities leases interests Total
HK$M HK$M HK$M HK$M
At beginning of the year 5,203 21,995 108 27,306
Finance raised on leased assets (note 24) – 1,341 – 1,341
Loan and finance lease repayments (1,166) (1,292) – (2,458)
New financing – 1,069 – 1,069
Purchases of bonds and security deposits placed – (2,552) – (2,552)
Dividends paid to minority interests – – (87) (87)
Acquisitions of minority shareholdings – – (19) (19)
Minority interests’ share of subsidiaries’
capital and revenue reserves – – 84 84
Non-cash movements (75) 260 – 185
At end of the year 3,962 20,821 86 24,869
26. Analysis of cash and cash equivalents and net liquid funds
1999 1998
HK$M HK$M
Analysis of cash and cash equivalents
Short-term deposits and bank balances 1,814 2,205
Bank overdrafts and short-term loans (28) (86)
Cash and cash equivalents at end of the year 1,786 2,119
Analysis of net liquid funds
Cash and cash equivalents 1,786 2,119
Funds with investment managers 7,130 7,316
Other liquid investments 2,527 2,719
Short-term deposits maturing beyond three months when placed 124 86
Net liquid funds at end of the year 11,567 12,240