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Company Statement of
Financial Position
at 31st December 2008
Cathay Pacific Airways Limited Annual Report 2008
Note
2008
HK$M
2007
HK$M
2008
US$M
2007
US$M
ASSETS AND LIABILITIES
Non-current assets and liabilities
Fixed assets 11 48,374 45,637 6,202 5,851
Intangible assets 12 116 116 15 15
Investments in subsidiaries 13 21,165 24,909 2,713 3,193
Investments in associates 14 7,625 7,186 978 921
Other long-term receivables and investments 15 1,324 1,567 170 201
78,604 79,415 10,078 10,181
Long-term liabilities (37,099) (34,289) (4,756) (4,396)
Related pledged security deposits 1,921 2,484 246 318
Net long-term liabilities 16 (35,178) (31,805) (4,510) (4,078)
Retirement benefit obligations 17 (299) (287) (38) (36)
Deferred taxation 18 (3,835) (5,460) (492) (700)
(39,312) (37,552) (5,040) (4,814)
Net non-current assets 39,292 41,863 5,038 5,367
Current assets and liabilities
Stock 841 790 108 101
Trade and other receivables 19 9,773 9,249 1,252 1,186
Liquid funds 20 7,566 7,622 970 977
18,180 17,661 2,330 2,264
Current portion of long-term liabilities (4,526) (4,460) (580) (572)
Related pledged security deposits 11 17 12
Net current portion of long-term liabilities 16 (4,515) (4,443) (579) (570)
Trade and other payables 21 (20,344) (12,208) (2,608) (1,565)
Unearned transportation revenue (5,396) (5,838) (692) (748)
Taxation (1,832) (2,084) (235) (267)
(32,087) (24,573) (4,114) (3,150)
Net current liabilities (13,907) (6,912) (1,784) (886)
Net assets 25,385 34,951 3,254 4,481
CAPITAL AND RESERVES
Share capital 22 787 788 101 101
Reserves 23 24,598 34,163 3,153 4,380
Total equity 25,385 34,951 3,254 4,481
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 56 to 93 form part of these accounts.
Christopher Pratt Henry Fan
Director Director
Hong Kong, 11th March 2009
52