116
CapitaLand Limited
Annual Report 2015
2015
$’000
2014
$’000
Cash flows from operating activities
Profit after tax
1,495,256
1,759,693
Adjustments for:
Allowance for/(Writeback of):
- doubtful receivables
839
(579)
- foreseeable losses
168,260
82,811
- impairment on interests in associates and joint ventures
(8,223)
61,903
- impairment on property, plant and equipment
–
416
Amortisation and impairment of intangible assets
2,699
4,901
Depreciation of property, plant and equipment
73,183
64,620
Finance costs
477,267
439,473
(Gain)/Loss on repurchase of convertible bonds
(19,783)
2,713
Gain from bargain purchase
(1,239)
(12,790)
Loss/(Gain) on disposal and write off of property, plant and equipment
5,978
(177)
Gain on disposal of investment properties
(10,901)
(2,296)
Interest income
(55,634)
(57,288)
Net change in fair value of investment properties and assets held for sale
(409,660)
(456,921)
Fair value gain arising from change in use of development projects
(207,953)
–
Net change in fair value of financial instruments
(1,827)
(1,356)
Net loss/(gain) on disposal/liquidation/dilution of equity investments
and other financial assets
18,298
(21,690)
Share of results of associates and joint ventures
(726,019)
(986,235)
Share-based expenses
35,342
52,720
Tax expense
343,503
273,133
(315,870)
(556,642)
Operating profit before working capital changes
1,179,386
1,203,051
Changes in working capital:
Trade and other receivables
(217,780)
69,736
Development properties for sale
953,195
(149,335)
Trade and other payables
825,833
118,349
Restricted bank deposits
(13,198)
13,153
1,548,050
51,903
Cash generated from operations
2,727,436
1,254,954
Income tax paid
(260,791)
(256,238)
Net cash generated from operating activities
2,466,645
998,716
Consolidated Statement of Cash Flows
Year ended 31 December 2015
The accompanying notes form an integral part of these financial statements.
