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48 Cathay Pacific Airways Limited Annual Report 2005
Company Balance Sheet
at 31st December 2005
2005 2004 2005 2004
Note HK$M HK$M US$M US$M
ASSETS AND LIABILITIES
Non-current assets and liabilities
Fixed assets 8 41,680 41,701 5,343 5,346
Intangible assets 9 83 172 11 22
Investments in subsidiaries 10 11,360 13,108 1,456 1,680
Investments in associates 11 60 61 8 8
Other long-term receivables and investments 12 3,792 3,890 486 499
56,975 58,932 7,304 7,555
Long-term liabilities (25,503) (26,040) (3,269) (3,338)
Related pledged security deposits 3,200 3,575 410 458
Net long-term liabilities 13 (22,303) (22,465) (2,859) (2,880)
Retirement benefit obligations 14 (127) (166) (16) (21)
Deferred taxation 15 (6,234) (7,113) (799) (912)
(28,664) (29,744) (3,674) (3,813)
Net non-current assets 28,311 29,188 3,630 3,742
Current assets and liabilities
Stock 643 509 82 65
Trade and other receivables 16 6,166 5,038 790 646
Liquid funds 17 4,887 3,244 627 416
11,696 8,791 1,499 1,127
Current portion of long-term liabilities (4,807) (6,327) (616) (811)
Related pledged security deposits 400 769 51 98
Net current portion of long-term liabilities 13 (4,407) (5,558) (565) (713)
Trade and other payables 18 (7,565) (7,021) (971) (900)
Unearned transportation revenue (3,864) (3,622) (495) (464)
Taxation (2,484) (1,457) (318) (187)
(18,320) (17,658) (2,349) (2,264)
Net current liabilities (6,624) (8,867) (850) (1,137)
Net assets 21,687 20,321 2,780 2,605
CAPITAL AND RESERVES
Share capital 19 676 674 87 86
Reserves 20 21,011 19,647 2,693 2,519
Total equity 21,687 20,321 2,780 2,605
The accounts are prepared and presented in HK$, the functional currency. The US$ figures are shown only as supplementary
information and are translated at HK$7.8.
The notes on pages 54 to 85 form part of these accounts.
Christopher Pratt Henry Fan
Director Director
Hong Kong, 8th March 2006