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- LOTOS Annual Report 2011 /
- Home /
- Financial data /
- Consolidated financial statements 2011 /
- Notes to the financial statements /
- 31. Cash structure in the statement of cash flows
31. Cash structure in the statement of cash flows
| PLN '000 | Note | Dec 31 2011 |
Dec 31 2010 (restated) |
|---|---|---|---|
| Cash at bank | 30 | 380,668 | 381,995 |
| Cash in hand | 30 | 322 | 273 |
| Other cash | 30 | 2,690 | 333 |
| Overdraft facilities | 34 | (222,128) | (264,368) |
| Total cash and cash equivalents | 161,552 | 118,233 |
Cash at banks bears interest at variable rates set on the basis of short-term interest rates prevailing on the interbank market. Short-term deposits are placed for various maturities, ranging from one day to one month, depending on the Group’s current demand for cash, and bear interest at the interest rates set for them.
In the statement of financial position, restricted cash is disclosed under “Cash and cash equivalents”.
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 |
Note |
Year ended Dec 31 2011 |
Year ended Dec 31 2010 |
|---|---|---|---|
| Balance-sheet change in net non-current and current receivables | (458,175) | (207,829) | |
| Change in income tax receivables | 92,946 | (5,874) | |
| Change in investment receivables | (1,531) | 2,958 | |
| Change in receivables from sale of shares | 400 | (83) | |
| Change in Group structure | 21,282 | - | |
| Set-off of corporate income tax receivables against VAT liabilities | (7,562) | (77,933) | |
| Set-off of corporate income tax payable against VAT receivables | (29,413) | - | |
| Reclassification into non-current assets held for sale | 22 | (58,130) | (818) |
| Other | (1,195) | (9,130) | |
| Change in receivables as disclosed in the statement of cash flows | (441,378) | (298,709) |
|
Inventories PLN '000 |
Note |
Year ended Dec 31 2011 |
Year ended Dec 31 2010 |
|---|---|---|---|
| Change in inventories as shown by the balance sheet | (1,349,049) | (1,483,647) | |
| Change in Group structure | 16,590 | - | |
| Reclassification into non-current assets held for sale | 22 | (24,728) | - |
| Other | 4,279 | - | |
| Change in inventories as shown by the statement of cash flows | (1,352,908) | (1,483,647) |
|
Liabilities, accruals and deferred income PLN '000 |
Year ended Dec 31 2011 |
Year ended Dec 31 2010 (restated) |
|---|---|---|
| Balance-sheet change in non-current and current liabilities, and accruals and deferred income | 2,325,120 | 1,784,317 |
| Change in non-current and current borrowings and other debt instruments | (1,064,835) | (635,651) |
| Adjustment for deposits earmarked for repayment of bank borrowings | (168,346) | 1,263 |
| Change in investment commitments | 16,955 | 24,052 |
| Change in liabilities related to issue of notes | 52,670 | (52,670) |
| Change in liabilities related to acquisition of debt claims | 38,793 | - |
| Change in liabilities related to acquisition of shares | (15,363) | (1,926) |
| Change in Group structure | (71,632) | - |
| Change in finance lease liabilities | (120,746) | 8,878 |
| Change in income tax liabilities | 7,768 | (3,321) |
| Set-off of corporate income tax receivables against VAT liabilities | 7,562 | 77,937 |
| Change in liabilities related to negative valuation of derivative financial instruments | 12,029 | (43,436) |
| Grants received | (2,211) | - |
| Adjustment for cash earmarked for acquisition of shares | (26,169) | - |
| Reclassification into non-current assets held for sale | 15,696 | 173 |
| Other | (1,286) | (2) |
| Change in liabilities and accruals and deferred income as shown by the statement of cash flows | 1,006,005 | 1,159,614 |
|
Provisions PLN '000 |
Note |
Year ended Dec 31 2011 |
Year ended Dec 31 2010 |
|---|---|---|---|
| Balance-sheet change in provisions | 61,605 | 59,518 | |
| Change in Group structure | (15,704) | - | |
| Change in deferred tax liabilities | 17,917 | (32,532) | |
| Change in provision for Offshore Oil and Gas Facilities | (29,374) | (17,135) | |
| Reclassification into non-current assets held for sale | 22 | 3,756 | - |
| Change in provisions as shown by the statement of cash flows | 38,200 | 9,851 |
|
Prepayments and accrued income PLN '000 |
Note |
Year ended Dec 31 2011 |
Year ended Dec 31 2010 |
|---|---|---|---|
| Balance-sheet change in prepayments and accrued income | (250,721) | (91,242) | |
| Change in Group structure | 783 | - | |
| Change in deferred tax assets | 240,227 | 85,634 | |
| Change in commission fees on revolving credit facilities, amortised over time | (1,754) | (365) | |
| Reclassification into non-current assets held for sale | 22 | (77) | (985) |
| Other | (2,113) | (11) | |
| Change in prepayments and accrued income as shown by the statement of cash flows | (13,655) | (6,969) |
|
Cash PLN '000 |
Year ended Dec 31 2011 |
Year ended Dec 31 2010 (restated) |
|---|---|---|
| Balance-sheet change in cash | 1,079 | 37,475 |
| Change in interest-bearing overdraft facilities | 42,240 | 246,346 |
| Change in cash as shown by the statement of cash flows | 43,319 | 283,821 |
Causes of differences between the items disclosed in the notes to the financial statements and the items of the statement of cash flows
|
Depreciation and amortisation PLN '000 |
Year ended Dec 31 2011 |
Year ended Dec 31 2010 |
|---|---|---|
| Depreciation/amortisation as disclosed in changes to property, plant and equipment and intangible assets | 608,667 | 390,118 |
| Depreciation directly related to expenditure on tangible assets under construction | (59) | (217) |
| Depreciation/amortisation as disclosed in the statement of cash flows | 608,608 | 389,901 |
|
Purchase of property, plant and equipment and intangible assets PLN '000 |
Year ended Dec 31 2011 |
Year ended Dec 31 2010 (restated) |
|---|---|---|
| Purchase of property, plant and equipment and intangible assets as disclosed in changes to property, plant and equipment and intangible assets | (720,412) | (992,410) |
| Change in investment commitments | (22,895) | (24,052) |
| Acquisition of tangible assets under a lease agreement | 110,955 | 4,828 |
| Other | 3,019 | (15,639) |
| Purchase of property, plant and equipment and intangible assets as disclosed in the statement of cash flows | (629,333) | (1,027,273) |
Other items related to the statement of cash flows
|
Other adjustments PLN '000 |
Note |
Year ended Dec 31 2011 |
Year ended Dec 31 2010 |
|---|---|---|---|
| Cash earmarked for repayment of interest | (37,479) | - | |
| Reclassification to current financial assets | 28 | (18,320) | - |
| Reclassification into non-current assets held for sale | 3,082 | (77) | |
| Other adjustments | (52,717) | (77) |
|
Other cash outflows on financial assets PLN '000 |
Year ended Dec 31 2011 |
Year ended Dec 31 2010 |
|---|---|---|
| Cash earmarked for financing of an overhaul shutdown planned at Grupa LOTOS S.A. in 2013, as provided for in the credit agreements executed to finance the 10+ Programme | (38,106) | - |
| Security deposit provided by Grupa LOTOS S.A. to Marex Financial, a brokerage firm, to enable execution of transactions on the ICE Futures Internet platform | (8,639) | - |
| Cash transfer to the bank account of the Mining Facilities Decommissioning Fund | (1,898) | |
| Other cash outflows on financial assets | (48,643) | - |
This is a translation of a document originally issued in Polish.