Annual Report 2019

217 ANNUAL REPORT 2019 38. INFORMATION OF THE CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED) (b) Reconciliation of liabilities arising from financing activities The table below details changes in the Group’s liabilities arising from financing activities, including both cash and non-cash changes. Liabilities arising from financing activities are those for which cash flows were, or future cash flows will be, classified in the Group’s consolidated statement of cash flows as cash flows used in financing activities. Bank and other borrowings Bank loans Loans from the ultimate holding company and an intermediate holding company Loans from a non-controlling equity holder of a subsidiary Loans from fellow subsidiaries Loan from an associate Loan from immediate holding company Notes payable Lease liabilities Interest payable (included in creditors and accruals) Dividend payable to non-controlling equity holders of subsidiaries (included in creditors and accruals) Dividend payable to equity holders of the Company Total HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million At 31 December 2018 12,280 — 446 634 276 — 25,220 — 618 51 — 39,525 Adjustment upon application of HKFRS 16 — — — — — — — 1,098 — — — 1,098 At 1 January 2019 (restated) 12,280 — 446 634 276 — 25,220 1,098 618 51 — 40,623 Financing cash flows 10 — — 413 (276) 371 (617) (170) (1,944) (213) (1,639) (4,065) Non-cash changes Exchange adjustments (199) — 8 (20) — (5) (168) (23) — 38 — (369) Interest capitalised — — — — — — — — 22 — — 22 Issue of shares in lieu of dividends — — — — — — — — — — (1,544) (1,544) Interest expense — — — — — — 41 54 1,901 — — 1,996 Declaration of dividend — — — — — — — — — 269 3,183 3,452 New leases entered into (net) and lease modification — — — — — — — 43 — — — 43 At 31 December 2019 12,091 — 454 1,027 — 366 24,476 1,002 597 145 — 40,158 At 1 January 2018 10,747 179 445 2,261 276 — 14,652 — 292 248 — 29,100 Financing cash flows 943 (178) — (1,085) — — 10,126 — (1,685) (1,016) (1,802) 5,303 Non-cash changes Acquisition of subsidiaries 1,349 — — — — — 1,365 — — — — 2,714 Disposal of subsidiaries (178) — — (515) — — (611) — (9) (105) — (1,418) Exchange adjustments (581) (1) 1 (27) — — (361) — 115 50 — (804) Interest capitalised — — — — — — — — 45 — — 45 Issue of shares in lieu of dividends — — — — — — — — — — (863) (863) Interest expense — — — — — — 49 — 1,860 — — 1,909 Declaration of dividend — — — — — — — — — 874 2,665 3,539 At 31 December 2018 12,280 — 446 634 276 — 25,220 — 618 51 — 39,525