Cathay Pacific 2004 Annual Report Download - page 45

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Consolidated Cash Flow Statement
Cathay Pacific Airways Limited 2004 Annual Report 41
for the year ended 31st December 2004
2004 2003 2004 2003
Note
HK$M HK$M US$M US$M
Operating activities
Cash generated from operations
22
10,595 6,370 1,359 817
Dividends received from associated companies 122 187 16 24
Interest received 59 49 86
Net interest paid (786) (928) (101) (119)
Tax paid (785) (815) (101) (104)
Net cash inflow from operating activities 9,205 4,863 1,181 624
Investing activities
Net decrease in liquid funds other
than cash and cash equivalents 884 757 113 98
Receipts from capital reduction,
loan and disposal of subsidiary
and associated companies 69 11 91
Sales of fixed assets 54 27 73
Payments for fixed and intangible assets (4,064) (5,147) (521) (660)
Net (increase)/decrease in long-term
receivables and investments (2,692) 84 (345) 11
Net cash outflow from investing activities (5,749) (4,268) (737) (547)
Financing activities
New financing 1,746 6,765 224 867
Shares issued 199 56 25 7
Net cash benefit from financing arrangements 51 735 794
Loan and finance lease repayments (6,247) (4,995) (801) (640)
Security deposits placed (94) (70) (12) (9)
Dividends paid – to shareholders (2,189) (1,035) (281) (133)
– to minority interests (69) (20) (9) (3)
Net cash (outflow)/inflow from
financing activities (6,603) 1,436 (847) 183
(Decrease)/increase in cash and cash equivalents (3,147) 2,031 (403) 260
Cash and cash equivalents at 1st January 5,649 3,422 724 439
Effect of exchange differences 155 196 20 25
Cash and cash equivalents at 31st December
23
2,657 5,649 341 724
The US$ figures are for information only and are translated at HK$7.8.
The notes on pages 44 to 65 form part of these accounts.