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Consolidated Statement of Financial Position
at 31st December 2011
Note
2011
HK$M
2010
HK$M
2011
US$M
2010
US$M
ASSETS AND LIABILITIES
Non-current assets and liabilities
Fixed assets 12 73,498 66,112 9,423 8,476
Intangible assets 13 8,601 8,004 1,103 1,026
Investments in associates 15 17,894 12,926 2,294 1,657
Other long-term receivables and investments 16 5,783 4,359 741 559
105,776 91,401 13,561 11,718
Long-term liabilities (38,410) (36,235) (4,924) (4,646)
Related pledged security deposits 3,637 5,310 466 681
Net long-term liabilities 17 (34,773) (30,925) (4,458) (3,965)
Other long-term payables 18 (2,612) (1,700) (335) (217)
Deferred taxation 20 (6,797) (5,815) (871) (746)
(44,182) (38,440) (5,664) (4,928)
Net non-current assets 61,594 52,961 7,897 6,790
Current assets and liabilities
Stock 1,155 1,021 148 131
Trade, other receivables and other assets 21 9,859 11,065 1,264 1,419
Assets held for sale 22 746 368 95 47
Liquid funds 23 19,597 24,198 2,512 3,102
31,357 36,652 4,019 4,699
Current portion of long-term liabilities (10,603) (9,249) (1,359) (1,186)
Related pledged security deposits 2,041 545 261 70
Net current portion of long-term liabilities 17 (8,562) (8,704) (1,098) (1,116)
Trade and other payables 24 (17,464) (15,773) (2,239) (2,022)
Unearned transportation revenue (9,613) (9,166) (1,232) (1,175)
Taxation (1,368) (1,541) (175) (198)
(37,007) (35,184) (4,744) (4,511)
Net current (liabilities)/assets (5,650) 1,468 (725) 188
Total assets less current liabilities 100,126 92,869 12,836 11,906
Net assets 55,944 54,429 7,172 6,978
CAPITAL AND RESERVES
Share capital 25 787 787 101 101
Reserves 26 55,022 53,487 7,054 6,857
Funds attributable to owners of Cathay Pacific 55,809 54,274 7,155 6,958
Non-controlling interests 135 155 17 20
Total equity 55,944 54,429 7,172 6,978
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 97 and the principal accounting policies on pages 48 to 51 form part of these accounts.
Christopher Pratt Jack So
Director Director
Hong Kong, 14th March 2012
Cathay Pacific Airways Limited Annual Report 2011 53