4.2.5Consolidated Cash Flow Statement
|
in millions of US$ |
Notes |
2020 |
2019 |
|---|---|---|---|
|
Cash flow from operating activities |
|||
|
Profit/(loss) before income tax |
366 |
542 |
|
|
Adjustments to reconcile profit before taxation to net cash flows: |
|||
|
Depreciation and amortization |
320 |
243 |
|
|
Impairment |
117 |
27 |
|
|
Net financing costs |
258 |
254 |
|
|
Share net income of associates and joint ventures |
(17) |
(43) |
|
|
Share based compensation |
27 |
17 |
|
|
Other adjustments for non-cash items |
(123) |
- |
|
|
(Increase)/Decrease in working capital: |
|||
|
- (Increase)/Decrease Trade and other receivables |
(166) |
(39) |
|
|
- (Increase)/Decrease Construction work in progress |
(1,258) |
(1,176) |
|
|
- (Increase)/Decrease Inventories |
(135) |
(3) |
|
|
- Increase/(Decrease) Trade and other payables |
134 |
(46) |
|
|
Increase/(Decrease) Other provisions |
103 |
(165) |
|
|
Reimbursement finance lease assets |
288 |
197 |
|
|
Income taxes paid |
(42) |
(29) |
|
|
Net cash flows from (used in) operating activities |
(128) |
(220) |
|
|
Cash flow from investing activities |
|||
|
Investment in property, plant and equipment |
(41) |
(30) |
|
|
Investment in intangible assets |
(29) |
(9) |
|
|
Additions to funding loans |
(15) |
(0) |
|
|
Redemption of funding loans |
20 |
175 |
|
|
Interest received |
5 |
8 |
|
|
Dividends received from equity-accounted investees |
44 |
139 |
|
|
Proceeds from disposal of financial assets and other assets |
(0) |
(0) |
|
|
Net cash flows from (used in) investing activities |
(17) |
282 |
|
|
Cash flow from financing activities |
|||
|
Equity repayment to partners |
(23) |
82 |
|
|
Additions to borrowings and loans |
1,290 |
1,389 |
|
|
Repayments of borrowings and lease liabilities |
(617) |
(1,039) |
|
|
Dividends paid to shareholders and non-controlling interests |
(233) |
(108) |
|
|
Payments to non-controlling interests for change in ownership |
28 |
(149) |
|
|
Share repurchase program |
(165) |
(196) |
|
|
Interest paid |
(228) |
(244) |
|
|
Net cash flows from (used in) financing activities |
50 |
(264) |
|
|
Net increase/(decrease) in cash and cash equivalents |
(95) |
(202) |
|
|
Net cash and cash equivalents as at 1 January |
506 |
718 |
|
|
Net increase/(decrease) in net cash and cash equivalents |
(95) |
(202) |
|
|
Foreign currency variations |
5 |
(9) |
|
|
Net cash and cash equivalents as at 31 December |
414 |
506 |
The reconciliation of the net cash and cash equivalents as at 31 December with the corresponding amounts in the statement of financial position is as follows:
Reconciliation of net cash and cash equivalents as at 31 December
|
in millions of US$ |
31 December 2020 |
31 December 2019 |
|
|---|---|---|---|
|
Cash and cash equivalents |
414 |
506 |
|
|
Net cash and cash equivalents |
414 |
506 |