Singapore Airlines 2006 Annual Report Download - page 128

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126
Singapore Airlines Annual Report 05/06
30 Cash Flow from Operating Activities (in $ million)
The Group
2005-06 2004-05
R1
Profi t before taxation 1,662.1 1,791.0
Adjustments for:
Depreciation 1,227.7 1,165.8
Impairment of fi xed assets 12.1 –
Amortisation of intangible assets 54.7 42.9
Income from short-term investments (1.5) (1.4)
Share-based compensation expense 48.1 38.4
Exchange differences 133.2 56.3
Amortisation of deferred gain on sale and
operating leaseback transactions (103.5) (120.6)
Finance charges 96.3 77.5
Interest income (96.7) (52.7)
Surplus on disposal of aircraft, spares and spare engines (115.7) (215.2)
Surplus on disposal of other fi xed assets (11.9) (8.7)
Dividends from long-term investments, gross (24.6) (8.0)
Impairment of long-term investments 1.0 0.1
Amortisation of deferred gain (1.4) (1.3)
Share of profi ts of joint venture companies (40.6) (12.5)
Share of profi ts of associated companies (255.2) (203.7)
Surplus on sale of investment in Air New Zealand Limited – (45.7)
Surplus on sale of investment in Raffl es Holdings Ltd – (32.6)
Surplus on sale of investment in Taikoo (Xiamen) Aircraft
Engineering Company Limited – (9.0)
Operating profi t before working capital changes 2,584.1 2,460.6
Increase in creditors 137.7 487.8
(Increase)/decrease in short-term investments (355.6) 50.9
Increase in sales in advance of carriage 160.4 32.2
Increase in debtors (155.4) (167.9)
Increase in stocks (75.0) (39.1)
Increase in deferred revenue 72.0 31.5
Decrease/(increase) in amounts owing by associated and joint venture companies 12.1 (2.7)
Cash generated from operations 2,380.3 2,853.3
Income taxes paid (70.7) (66.7)
Net cash provided by operating activities 2,309.6 2,786.6
R1 2004-05 fi gures have been restated for the effect of adopting FRS 102 [see Note 3(d)].
NOTES TO THE FINANCIAL STATEMENTS
31 March 2006