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Washington H. Soul Pattinson and Company Limited
Annual Report 2016
54
Consolidated Statement of Cash Flows
for the year ended 31 July 2016
Notes
2016
2015
$’000
$’000
Cash flows from operating activities
Receipts from customers inclusive of GST
598,389
592,947
Payments to suppliers and employees inclusive of GST
(559,921)
(502,923)
38,468
90,024
Dividends received
98,603
94,648
Interest received
32,202
46,393
Acquisition costs expensed
6
(45,604)
–
Finance costs
(973)
(1,438)
Income taxes paid
(2,869)
(6,937)
Net cash inflow from operating activities
14
119,827
222,690
Cash flows from investing activities
Payment for property, plant and equipment and intangibles
(68,533)
(77,430)
Proceeds from sale of property, plant and equipment
829
336
Payments for exploration and evaluation activities
(22,387)
(60,350)
Net proceeds from term deposits
1,161,399
52,933
Payment for acquisition and development of investment properties
(71,316)
(31,204)
Proceeds from sale of investment properties
–
153,069
Payments for equity investments
(86,149)
(80,905)
Proceeds from sale of long term equity investments
49,130
29,222
Proceeds from sale of an equity accounted associate
4,108
–
Payments to acquire equity accounted associates
(6,287)
(5,014)
Loans advanced
(41,285)
(17,843)
Loan repayments
1,701
3,554
Payments for acquisition of businesses, net of cash
6
(849,530)
–
Net cash inflow/(outflow) from investing activities
71,680
(33,632)
Cash flows from financing activities
Dividends paid to our shareholders
(122,092)
(117,304)
Dividends paid by subsidiaries to non-controlling interests
(27,963)
(33,892)
Proceeds from interest bearing liabilities
1,356
1,238
Payment on close out of interest rate swap
–
(2,112)
Proceeds from external borrowings
23,358
11,572
Repayment of external borrowings
(988)
(56,950)
Net cash (outflow) from financing activities
(126,329)
(197,448)
Net increase/(decrease) in cash and cash equivalents
65,178
(8,390)
Cash and cash equivalents at the beginning of the year
59,424
64,933
Effects of exchange rate changes on cash and cash equivalents
2,107
2,881
Cash and cash equivalents at the end of the year
14
126,709
59,424
The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.