b'A N N U A L R E P O R T 2 0 1 7 - 2 0 1 8STATEMENT OF CASH FLOWSFOR THE YEAR ENDED 30 JUNE 2018(Expressed in Trinidad and Tobago Dollars) Year ended30 June20182017$000$000Cash flows from operating activitiesSurplus of income expenditure1,403,3031,134,420Adjustments:Unrealised investment loss/(income)151,913(393,069)Foreign exchange losses2,290Bad debts written back(165)Depreciation15,6835,792Pension expense5,22413,476Revaluation of subsidiaries8,623(149,433)Adjustments to property, plant and equipment profit12,353Surplus before working capital changes1,599,224611,186Decrease in mortgage advances1,8953,294Decrease investment property4,0501,224Decrease in property being developed for sale2,67913,288Increase in other assets(152,772)(36,718)Increase in other liabilities (35,239) (28,094)Net cash generated by operating activities1,419,837564,180Cash flows from investing activitiesPurchase of property, plant and equipment(21,419)(184,081)Purchase of investments(5,936,308)(4,624,596)Sale/maturity of investments 5,195,364 3,773,499Net cash used in investing activities (762,363)(1,035,178)Net increase/(decrease) in cash and cash equivalents657,474(470,998)Cash and cash equivalents at beginning of the period2,730,401 3,201,399Cash and cash equivalents at the end of the period 3,387,875 2,730,401The accompanying notes form an integral part of these special purpose financial statements.38'