Singapore Airlines 2003 Annual Report Download - page 72

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70 SIA Annual Report 02/03
Cash Flow Statements
For the financial year ended 31 March 2003 (in $ million)
The notes on pages 72 to 107 form an integral part of these financial statements.
The Group The Company
Notes 2002-03 2001-02 2002-03 2001-02
Net Cash provided by Operating Activities 28 1,818.1 1,380.4 1,236.1 571.3
Cash Flow from Investing Activities
Capital expenditure 29 (3,039.3) (3,532.4) (2,578.7) (2,882.2)
Proceeds from disposal of aircraft and
other fixed assets 1,279.5 1,601.8 1,164.2 1,302.0
Return on capital from associated companies – 5.4 – –
Return on capital from joint venture companies 0.9 – – –
Return on capital from long-term investments 2.8 – 2.3 –
Investments in associated companies (16.8) (37.9) – –
Investments in joint venture companies (18.9) (13.6) (10.9) –
Investments in subsidiary companies by
minority interests – 0.6 – –
Investments in subsidiary companies – (0.6) (7.0) –
Acquisition of subsidiary companies,
net of cash acquired (2.1) – – –
Additional long-term investments (169.6) (3.6) (169.6) (3.5)
Additional long-term loans (0.8) (1.1) – –
Loans to associated companies – (0.1) – –
Loans to subsidiary companies – – (34.3) (313.2)
Repayment of loans by subsidiary companies – – 190.3 624.7
Repayment of loans by associated companies 6.0 1.4 – –
Repayment of loans 6.3 2.7 – –
Proceeds from liquidation of subsidiary companies – – – 191.4
Proceeds from sale of long-term investments 154.1 32.9 154.1 31.4
Proceeds from disposal of associated companies 1.0 6.1 1.0 8.8
Dividends from subsidiary and associated companies 36.1 31.2 98.3 106.2
Dividends received from investments 4.5 5.8 3.4 4.2
Interest received from investments and deposits 32.3 70.6 37.7 69.9
Interest received from associated companies 0.3 – – –
Net Cash used in Investing Activities (1,723.7) (1,830.8) (1,149.2) (860.3)
Cash Flow from Financing Activities
Dividends paid (181.7) (211.8) (181.7) (211.8)
Dividends paid by subsidiary companies to
minority interests (17.9) (16.0) – –
Interest expense paid (51.1) (22.3) (47.4) (25.1)
Proceeds from borrowings 219.8 1,119.1 – 1,120.0
Repayment of borrowings (220.0) – (220.0) –
(Decrease)/increase in long-term lease liabilities (57.9) 2.1 (17.0) 2.1
Proceeds from exercise of share options 0.9 – – –
Capital reduction – (609.0) – (609.0)
Share buyback – (25.3) – (25.3)
Dividends received from share buyback – 0.3 – 0.3
Net Cash (used in)/provided by Financing Activities (307.9) 237.1 (466.1) 251.2
Net Cash Outflow (213.5) (213.3) (379.2) (37.8)
Cash and Cash Equivalents at beginning
of Financial Year 1,034.8 1,244.9 806.5 841.1
Effect of exchange rate changes (32.0) 3.2 (27.7) 3.2
Cash and Cash Equivalents at end of Financial Year 789.3 1,034.8 399.6 806.5
Analysis of Cash and Cash Equivalents
Fixed deposits 27 528.2 531.5 306.2 438.0
Cash and bank 27 291.7 560.1 122.5 416.9
Bank overdrafts – unsecured (30.6) (56.8) (29.1) (48.4)
Cash and Cash Equivalents at end of Financial Year 789.3 1,034.8 399.6 806.5