RUB millions
| Notes | Year ended December 31, 2012 | Year ended December 31, 2011 | |
|---|---|---|---|
|
Cash flows from operating activities | |||
|
Profit before income tax |
|
219,991 |
207,665 |
|
Adjustments for: | |||
|
Share of profit of equity accounted investments |
(28,281) |
(6,874) | |
|
(Gain) / loss on foreign exchange differences |
|
(5,247) |
5,127 |
|
Finance income |
(3,174) |
(1,956) | |
|
Finance expense |
11,160 |
11,446 | |
|
Depreciation, depletion and amortization |
58,461 |
55,799 | |
|
Allowance for doubtful accounts |
2,773 |
299 | |
|
Other non-cash items |
|
3,351 |
5,815 |
|
Changes in working capital: | |||
|
Accounts receivable |
|
(1,931) |
(22,080) |
|
Inventories |
|
(14,222) |
(18,190) |
|
Other assets |
|
(18,130) |
(22,271) |
|
Accounts payable |
|
9,952 |
5,742 |
|
Taxes payable |
|
6,073 |
6,837 |
|
Other liabilities |
|
9,079 |
(7,340) |
|
Income taxes paid |
|
(25,361) |
(43,047) |
|
Interest paid |
|
(11,302) |
(9,657) |
|
Dividends received |
|
17,881 |
13,556 |
|
Net cash provided by operating activities |
|
231,073 |
180,871 |
|
Cash flows from investing activities | |||
|
Acquisition of subsidiaries, net of cash acquired |
|
(2,261) |
(16,239) |
|
Proceeds from disposal of subsidiaries, |
|
— |
8,371 |
|
Acquisition of equity-accounted investments |
|
— |
(1,506) |
|
Bank deposits placement |
|
(43,315) |
(3,442) |
|
Repayment of bank deposits |
|
39,076 |
6,837 |
|
Acquisition of other investments |
|
(4,517) |
(7,248) |
|
Proceeds from sales of other investments |
|
4,557 |
5,104 |
|
Short-term loans issued |
|
(4,193) |
(6,736) |
|
Repayment of short-term loans issued |
|
10,840 |
1,228 |
|
Long-term loans issued |
|
(13,751) |
(5,744) |
|
Repayment of long-term loans issued |
|
261 |
1,099 |
|
Capital expenditures |
|
(158,102) |
(130,788) |
|
Proceeds from sale of property, plant and equipment |
|
2,314 |
1,575 |
|
Interest received |
|
2,476 |
5,200 |
|
Net cash used in investing activities |
|
(166,615) |
(142,289) |
|
Cash flows from financing activities | |||
|
Proceeds from short-term borrowings |
|
92,986 |
20,069 |
|
Repayment of short-term borrowings |
|
(78,341) |
(17,889) |
|
Proceeds from long-term borrowings |
|
67,743 |
66,988 |
|
Repayment of long-term borrowings |
|
(56,970) |
(60,834) |
|
Transaction costs directly attributable |
|
(683) |
(206) |
|
Dividends paid to the Company’s shareholders |
|
(34,433) |
(29,157) |
|
Dividends paid to non-controlling interest |
|
(762) |
(754) |
|
Acquisition of non-controlling interest in subsidiaries |
|
(5,572) |
(23,722) |
|
Net cash used in financing activities |
|
(16,032) |
(45,505) |
|
Increase in cash and cash equivalents |
|
48,426 |
(6,923) |
|
Effect of foreign exchange on cash and cash equivalents |
|
(1,850) |
1,431 |
|
Cash and cash equivalents as |
|
29,436 |
34,928 |
|
Cash and cash equivalents as of the end |
|
76,012 |
29,436 |
The accompanying notes are an integral part of these consolidated financial statements