Page 34 - Nanyang Technological University

CONSOLIDATED STATEMENT
OF CASH FLOWS

Year ended 31 March 2015

Note 2015 2014

$’000 $’000

Group

Operating activities (560,939) (597,978)
Deficit before grants from ministries
Adjustments for: (296,943) (268,349)
Research grant income
Depreciation of property, plant and equipment 148,479 181,871
Amortisation of prepaid lease
Loss on disposal of property, plant and equipment 1,465 816
Profit on investments
Deferred capital grants amortised (non-ministry) 381 833
Interest income
Provision reversed/(made) for undergraduate funding (146,821) (140,375)
Share of joint venture’s results
(19,703) (15,202)

(4,721) (4,209)

854 (4,675)

111 10

(877,837) (847,258)

Changes in working capital: 97,949 32,090
Other payables
Trade and other receivables (135,720) 68,274
Deferred tuition and other fees
Student loans repaid 6,375 7,576

454 2,029

Cash generated from operating activities (908,779) (737,289)
Donations received for Endowment Fund
Income taxes paid 42,885 48,465

(330) (239)

Cash flows used in operating activities (866,224) (689,063)

Investing activities

Acquisition of property, plant and equipment (377,025) (263,756)

Acquisition of prepaid lease - (38,965)

Purchase of other financial assets (519,474) (315,851)

Proceeds from sale of other financial assets 133,223 135,741

Investment in joint venture (253) (208)

Decrease in cash held by fund managers 12 (34,950) (21,296)

Interest received 4,004 2,958

Cash flows used in investing activities (794,475) (501,377)

32 NTU ANNUAL REPORT 2015