HSBC 2015 Annual Report Download - page 342

Financial Statements (continued)
Consolidated statement of cash flows / Consolidated statement of changes in equity
HSBC HOLDINGS PLC
340
Consolidated statement of cash flows
for the year ended 31 December 2015
2015 2014 2013
Notes $m $m $m
Cash flows from operating activities
Profit before tax 18,867 18,680 22,565
Adjustments for:
–
net gain from investing activities (1,935) (1,928) (1,458)
–
share of profits in associates and joint ventures (2,556) (2,532) (2,325)
–
(gain)/loss on disposal of associates, joint ventures, subsidiaries and businesses
–
9 (1,173)
–
other non-cash items included in profit before tax 36 10,765 11,262 11,995
–
change in operating assets 36 65,828 25,877 (148,899)
–
change in operating liabilities 36 (106,762) (93,814) 164,757
–
elimination of exchange differences3 18,308 24,571 4,479
–
dividends received from associates 879 757 694
–
contributions paid to defined benefit plans (664) (681) (962)
–
tax paid (3,852) (3,573) (4,696)
Net cash generated from/(used in) operating activities (1,122) (21,372) 44,977
Cash flows from investing activities
Purchase of financial investments (438,376) (384,199) (363,979)
Proceeds from the sale and maturity of financial investments 399,636 382,837 342,539
Purchase of property, plant and equipment (1,352) (1,477) (1,952)
Proceeds from the sale of property, plant and equipment 103 88 441
Net cash inflow/(outflow) from disposal of customer and loan portfolios 2,023 (1,035) 6,518
Net investment in intangible assets (954) (903) (834)
Proceeds from disposal of Ping An
–
–
7,413
Net cash inflow/(outflow) from disposal of other subsidiaries, businesses,
associates and joint ventures 8 (272) 3,269
Net cash generated from/(used in) investing activities (38,912) (4,961) (6,585)
Cash flows from financing activities
Issue of ordinary share capital 147 267 297
Net sales/(purchases) of own shares for market-making and investment purposes 331 (96) (32)
Issue of other equity instruments 3,580 5,681
–
Redemption of preference shares and other equity instruments (463) (234)
–
Subordinated loan capital issued 3,180 3,500 1,989
Subordinated loan capital repaid (2,157) (3,163) (1,662)
Dividends paid to shareholders of the parent company (6,548) (6,611) (6,414)
Dividends paid to non-controlling interests (697) (639) (586)
Dividends paid to holders of other equity instruments (950) (573) (573)
Net cash used in financing activities (3,577) (1,868) (6,981)
Net increase/(decrease) in cash and cash equivalents (43,611) (28,201) 31,411
Cash and cash equivalents at 1 January 301,301 346,281 315,308
Exchange differences in respect of cash and cash equivalents (13,827) (16,779) (438)
Cash and cash equivalents at 31 December 36 243,863 301,301 346,281
The accompanying notes on pages 347 to 469 form an integral part of these financial statements1.
For footnotes, see page 346.