Cathay Pacific 2010 Annual Report Download - page 62

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60
5. Operating profit
2010
HK$M
2009
HK$M
Operating profit has been arrived at after charging/(crediting):
Depreciation of fixed assets
– leased 1,932 1,932
– owned 4,384 3,720
Amortisation of intangible assets 35 32
Operating lease rentals
– land and buildings 675 668
– aircraft and related equipment 2,343 2,707
– others 26 22
Net (write back)/provision for impairment of aircraft and related equipment (98) 219
Cost of stock expensed 1,912 1,892
Exchange differences (196) (344)
Auditors’ remuneration 10 10
Net gain on financial assets and liabilities classified as held for trading (565) (3,082)
Net loss/(gain) on financial assets and liabilities designated as at fair value through
profit and loss 159 (58)
Income from unlisted investments (68) (170)
Income from listed investments (3) (5)
6. Net finance charges
2010
HK$M
2009
HK$M
Net interest charges comprise:
– obligations under finance leases stated at amortised cost 743 991
– interest income on related security deposits, notes and bonds (343) (417)
400 574
– bank loans and overdrafts 196 229
– other loans wholly repayable within five years 53 91
649 894
Income from liquid funds:
– funds with investment managers and other liquid investments (135) (43)
– bank deposits and other receivables (64) (62)
(199) (105)
Fair value change:
– obligations under finance leases designated as at fair value through profit and loss 159 (58)
– financial derivatives 369 116
528 58
978 847
Finance income and charges relating to defeasance arrangements have been netted off in the above figures.
Notes to the Accounts STATEMENT OF COMPREHENSIVE INCOME