Creative 2010 Annual Report Download - page 22

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22
CREATIVE TECHNOLOGY LTD AND ITS SUBSIDIARIES
Group
2010 2009
Note US$’000 US$’000
Cash ows from operating activities:
Net loss (38,391) (137,876)
Adjustments for:
Income tax credit (8,289) (515)
Depreciation of property and equipment 10,704 8,260
Amortisation of intangible assets 478 75
Employee share-based expense 4,100 1,230
Share of loss of associated companies 953 2,498
Loss on disposal of property and equipment 126 231
Impairment loss of nancial assets, available-for-sale 1,079 13,374
Net impairment loss of investments in associated companies 80 148
Gain on disposal of nancial assets, available-for-sale (365) (305)
Gain on disposal of investments in subsidiaries – (39)
Gain on disposal of investments in associated companies (9,710) –
Currency translation losses 7,669 17,735
Dividend income (171) (312)
Interest income (630) (3,965)
Interest expense 80 135
(32,287) (99,326)
Changes in working capital, net of eects from acquisition and
disposal of subsidiaries
Trade receivables 13,366 32,313
Inventories (8,520) 63,143
Other assets and receivables 9,374 56,436
Trade payables (6,207) (41,087)
Accrued liabilities and provisions (4,845) (25,619)
Cash used in operations (29,119) (14,140)
Interest received 614 3,995
Interest paid (5) (132)
Income tax refunded (paid) 249 (2,571)
Net cash used in operating activities (28,261) (12,848)
Cash ows from investing activities:
Purchase of property and equipment (6,313) (3,300)
Proceeds from sale of property and equipment 16 315
Proceeds from disposal of investments in associated companies 11,025 –
Proceeds from sale of nancial assets, available-for-sale 365 440
Cash outow from sale of investments in subsidiaries 17 – (270)
Purchase of new subsidiaries (net of cash acquired) 17 – (600)
Purchase of nancial assets, available-for-sale (500) (202)
Purchase of investments in associated companies (278) –
Purchase of intangible assets (83) (1,465)
Dividend received 171 312
Net cash provided by (used in) investing activities 4,403 (4,770)
Cash ows from nancing activities:
Proceeds from exercise of share options 21 10
Purchase of treasury shares – (22,719)
Repayments of borrowings – (100,000)
Repayments of capital leases (10) (22)
Dividends paid to equity holders of the Company (4,930) –
Dividends paid to non-controlling interests (140) –
Net cash used in nancing activities (5,059) (122,731)
Net decrease in cash and cash equivalents (28,917) (140,349)
Cash and cash equivalents at beginning of nancial year 10 250,551 408,644
Eects of currency translation on cash and cash equivalents (7,609) (17,744)
Cash and cash equivalents at end of nancial year 10 214,025 250,551
consolIdAted stAteMent of cAsH flows
– For the nancial year ended 30 June 2010
The accompanying notes form an integral part of these nancial statements.