ESR Interim Report 2020 (EN)

Condensed Consolidated Statement of Cash Flows For the six months ended 30 June 2020 37 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS ESR Interim Report 2020 For the six months ended 30 June 2020 2019 (Unaudited) (Audited) Notes US$’000 US$’000 Cash flows from operating activities Profit before tax 192,403 122,713 Adjustments for:  Depreciation of property, plant and equipment 5 1,547 2,063  Amortisation of other intangible assets 5 2,635 3,034  Depreciation of right-of-use assets 5 2,951 2,199  Fair value gains on financial assets and financial liabilities  at fair value through profit or loss 4 (978) (22,818)  Fair value gains on investment properties under construction 4 (99,708) (76,761)  Fair value gains on completed investment properties 4 (26,063) (26,800)  Loss on disposal of items of property, plant and equipment 5 53 316  Share of profits and losses of joint ventures and associates, net (43,776) (18,317)  Dilution of interests in investment in a joint venture 4 2,320 –  Equity-settled share option expense 5 8,078 9,885  Gain on remeasurement of investment in associate to fair value 4 – (8,556)  Gains on disposal of subsidiaries 4 (5,494) (16,495)  Finance costs 6 71,659 83,363  Interest income 4 (1,769) (1,768)  Dividend income 4 (35,839) (11,848) 68,019 40,210  (Increase)/decrease in trade and bills receivables (15,397) 11,197  Decrease/(increase) in prepayments, other receivables and other assets 17,539 (4,861)  Decrease in trade payables, accruals and other payables (20,410) (13,607) Cash flows generated from operations 49,751 32,939 Income tax paid (23,600) (18,572) Net cash flows generated from operating activities 26,151 14,367