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53
Cathay Pacific Airways Limited Annual Report 2006
for the year ended 31st December 2006
Note
2006
HK$M
2005
HK$M
2006
US$M
2005
US$M
Operating activities
Cash generated from operations 21 11,122 8,706 1,426 1,116
Dividends received from associates 11 241 170 31 22
Interest received 267 163 34 21
Net interest paid (1,006) (671) (129) (86)
Tax paid (2,107) (971) (270) (125)
Net cash inflow from operating activities 8,517 7,397 1,092 948
Investing activities
Purchase of a subsidiary 22 94 –12 –
Sales of fixed assets 58 21 73
Net decrease/(increase) in long-term receivables
and investments 41 (232) 5(30)
Receipts from repayment of loan and capital reduction
from associates 1108 –14
Receipts from disposal of an investment –117 –15
Payments for fixed and intangible assets (5,311) (4,354) (680) (558)
Purchase of an associate (4,082) –(523) –
Net increase in liquid funds other than cash and
cash equivalents (110) (120) (14) (15)
Net cash outflow from investing activities (9,309) (4,460) (1,193) (571)
Financing activities
New financing 11,058 5,486 1,418 703
Net cash benefit from financing arrangements 358 343 46 44
Shares issued 19 52 78 710
Loan and finance lease repayments (5,786) (4,807) (742) (616)
Security deposits placed (210) (91) (27) (11)
Dividends paid – to shareholders (2,992) (2,196) (384) (282)
– to minority interests (286) (21) (37) (3)
Net cash inflow/(outflow) from financing activities 2,194 (1,208) 281 (155)
Increase in cash and cash equivalents 1,402 1,729 180 222
Cash and cash equivalents at 1st January 4,267 2,657 547 341
Effect of exchange differences 98 (119) 12 (16)
Cash and cash equivalents at 31st December 23 5,767 4,267 739 547
The consideration of the purchase of a subsidiary is set out in note 22 to the accounts.
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 58 to 89 form part of these accounts.
Consolidated Cash Flow Statement