| |
|
Consolidated Statements of Cash Flows |
As of December 31, 2008 |
As of December 31, 2007 |
|
Cash Flows From Operating Activities |
|
|
|
Net income for the year |
501,407 |
180,021 |
| |
|
|
|
Charges (Credits) To Income Not Representing Cash Flows |
|
|
|
Depreciation expense |
110,575 |
97,826 |
|
Amortization of intangible assets |
698 |
712 |
|
Write-offs and accruals |
44,710 |
34,063 |
|
Equity participation in net income of unconsolidated investees |
(14,358) |
(3,643) |
|
Equity participation in net losses of unconsolidated investees |
- |
77 |
|
Amortization of goodwill |
2,215 |
2,252 |
|
Amortization of negative goodwill |
- |
- |
|
Loss (gain) on sales of assets |
(2,793) |
87 |
|
Gains on sale of investment |
(1,387) |
(1,316) |
|
Other credits to income not representing cash flows |
(4,979) |
(1,745) |
|
Other charges to income not representing cash flows |
205,986 |
108,075 |
|
Foreign currency translation, net |
15,897 |
(2,212) |
| |
|
|
|
Net Changes In Operating Assets And Liabilities |
|
|
|
Accounts receivable |
(184,713) |
(25,830) |
|
Investories |
(193,469) |
(34,983) |
|
Other assets |
1,976 |
(6,437) |
|
Accounts payable |
61,156 |
(4,000) |
|
Interest payable |
1,729 |
582 |
|
Net income taxes payable |
(42,073) |
(23,541) |
|
Other accounts payable |
(15,147) |
(2,760) |
|
VAT and taxes payable |
(33,608) |
(9,726) |
|
Minority interest |
3,492 |
3,792 |
| |
|
|
|
NET CASH PROVIDED BY OPERATING ACTIVITIES |
457,314 |
311,294 |
| |
|
|
|
Cash Flows From Financing Activities |
|
|
|
Proceeds from bank loans |
280,000 |
- |
|
Proceeds from issuance of bonds |
-
|
- |
|
Payments of dividends |
(212,831) |
(94,910) |
|
Repayments of bank loans |
(100,000) |
(57,089) |
|
Payment of bonds |
(5,573) |
(5,131) |
|
Payment of expenses for the issuance and placement of bonds |
- |
- |
| |
|
|
|
NET CASH USED IN FINANCING ACTIVITIES |
(38,404) |
(157,130) |
| |
|
|
|
Cash Flows From Investing Activities |
|
|
|
Sales of property, plant and equipment |
25,969 |
2,498 |
|
Sales of investments in related companies |
1,688 |
1,478 |
|
Other investing income |
721 |
399 |
|
Additions to property, plant and equipment |
(275,893) |
(165,640) |
|
Capitalized interest |
(10,723) |
(12,388) |
|
Purchase of permanent invetments, net of cash acquired of ThUS$ 24,311 |
- |
- |
|
Time deposits |
(20,121) |
- |
|
Other disbursements |
(448) |
(513) |
| |
|
|
|
NET CASH USED IN INVESTING ACTIVITIES |
(278,807) |
(174,166) |
| |
|
|
|
Effect of inflation on cash and cash equivalents |
(516) |
271 |
|
Net change in cash and cash equivalents |
139,587 |
(19,731) |
|
Beginning balance of cash and cash equivalents |
164,212 |
183,943 |
| |
|
|
|
ENDING BALANCE OF CASH AND CASH EQUIVALENTS |
303,799 |
164,212 |
|
|