Notes to the financial statements
31. Cash Structure in the Statement of Cash Flows
| PLN '000 | Dec 31 2010 |
Dec 31 2009 (restated) |
|---|---|---|
| Cash at bank | 390,660 | 354,164 |
| Cash in hand | 273 | 243 |
| Other cash | 333 | 647 |
| Overdraft facilities | (274,831) | (510,714) |
| Total cash and cash equivalents | 116,435 | (155,660) |
Breakdown of the Company's Activities as Disclosed in the Statement of Cash Flows
Operating activities include transactions and events related to the core business of an undertaking and other activities which are not included in investing or financing activities.
Investing activities include transactions and events which consist in the purchase or sale of property, plant and equipment (tangible assets, tangible assets under construction, prepayments for tangible assets under construction), intangible assets, non-current investments and current financial assets (excluding cash and cash equivalents), as well as related monetary costs and benefits, excluding those related to income tax.
Financing activities include transactions and events which consist in the raising and repayment of funds from sources other than operating activities, related monetary costs and benefits, excluding those related to income tax, and settlement of financial instruments related to financing activities. The occurrence of cash flows in the financing activities gives rise to changes in the amount of equity and financial indebtedness and the proportion between them.
Causes of Differences between Changes in Certain Items as Shown by the Statement of Financial Position and as Shown by the Statement of Cash Flows
|
Receivables PLN '000 |
Year ended Dec 31 2010 |
Year ended Dec 31 2009 |
|---|---|---|
| Balance-sheet change in net non-current and current receivables | (207,829) | (116,210) |
| Change in income tax receivables | (12,687) | (68,672) |
| Set-off of corporate income tax receivables against VAT liabilities | (71,120) | - |
| Change in investment receivables | 2,958 | 2,022 |
| Change in Group structure | - | 291 |
| Change in dividends receivable | - | (1,343) |
| Change in receivables under settlement of derivative financial instruments | - | (3,167) |
| Other | (10,031) | (401) |
| Change in receivables as disclosed in the statement of cash flows | (298,709) | (187,480) |
|
Inventories PLN '000 |
Year ended Dec 31 2010 |
Year ended Dec 31 2009 |
| Balance-sheet change in inventories | (1,483,647) | (575,897) |
| Change in Group structure | - | 130 |
| Change in inventories as disclosed in the statement of cash flows | (1,483,647) | (575,767) |
|
Liabilities, accruals and deferred income PLN '000 |
Year ended Dec 31 2010 |
Year ended Dec 31 2009 |
| Balance-sheet change in non-current and current liabilities, and accruals and deferred income | 1,783,227 | 1,932,080 |
| Change in non-current and current loans and borrowings | (634,388) | (1,781,466) |
| Change in investment liabilities | 22,358 | 505,213 |
| Change in liabilities related to acquisition of shares | (1,926) | (35,083) |
| Change in liabilities related to issue of bonds | (52,670) | - |
| Change in Group structure | - | 5,604 |
| Finance lease liabilities | 8,874 | (81,824) |
| Change in income tax expense | (3,321) | (3,798) |
| Set-off of corporate income tax receivables against VAT liabilities | 77,937 | - |
| Change in liabilities related to negative valuation of derivative financial instruments | (43,436) | (17,845) |
| Other | 2 | 169,830 |
| Change in liabilities and accruals and deferred income as disclosed in the statement of cash flows | 1,156,657 | 692,711 |
|
Provisions PLN '000 |
Year ended Dec 31 2010 |
Year ended Dec 31 2009 |
| Balance-sheet change in provisions | 59,518 | 45,781 |
| Change in Group structure | - | 2,471 |
| Change in deferred tax liabilities | (32,532) | (80,200) |
| Creation of provision for Offshore Oil and Gas Facilities | (17,135) | (31,031) |
| Other | - | 14,113 |
| Change in provisions as disclosed in the statement of cash flows | 9,851 | (48,866) |
|
Prepayments and accrued income PLN '000 |
Year ended Dec 31 2010 |
Year ended Dec 31 2009 |
| Balance-sheet change in prepayments and accrued income | (91,242) | 54,454 |
| Change in Group structure | - | (680) |
| Change in deferred tax assets | 85,634 | (26,901) |
| Other | (1,361) | (7,828) |
| Change in prepayments and accrued income as disclosed in the statement of cash flows | (6,969) | 19,045 |
|
Cash PLN '000 |
Year ended Dec 31 2010 |
Year ended Dec 31 2009 (restated) |
| Balance-sheet change in cash | 36,212 | (319,052) |
| Change in interest-bearing overdraft facilities | 235,883 | (135,739) |
| Change in cash as disclosed in the statement of cash flows | 272,095 | (454,791) |
Causes of Differences between the Items Disclosed in the Notes to the Financial Statements and the Items of the Statement of Cash Flows
|
Depreciation/amortisation PLN '000 |
Year ended Dec 31 2010 |
Year ended Dec 31 2009 |
|---|---|---|
| Depreciation/amortisation as disclosed in changes to property, plant and equipment and intangible assets | 390,118 | 285,074 |
| Depreciation directly related to expenditure on tangible assets under construction | (217) | (281) |
| Depreciation/amortisation as disclosed in the statement of cash flows | 389,901 | 284,793 |
|
(Purchase)/sale of tangible and intangible assets PLN '000 |
Year ended Dec 31 2010 |
Year ended Dec 31 2009 |
| (Purchase)/sale of tangible and intangible assets as disclosed in changes to property, plant and equipment and intangible assets | (1,041,033) | (2,935,312) |
| Change in investment liabilities | (22,358) | (505,213) |
| Change in investment receivables | (2,958) | (2,022) |
| Prepayments on tangible assets under construction | 57,064 | 258,581 |
| Acquisition of tangible assets under a lease | 4,828 | 83,469 |
| Other | (5,480) | 27,833 |
| (Purchase)/sale of tangible and intangible assets as disclosed in the statement of cash flows | (1,009,937) | (3,072,664) |
This is a translation of a document originally issued in Polish
The notes to the financial statements, presented on following pages, are their integral part.
