Cash Flow

 


As of September 30, 2009 and 2008. Figures in thousands of U.S. dollars.

See Consolidate Cash Flows quarterly/semi-annual

 
Consolidated Statements of Cash Flows
As of September
30, 2009
As of September
30, 2008
Cash Flows From Operating Activities
Net income for the year
251,697
381,071
 
Charges (Credits) To Income Not Representing Cash Flows
Depreciation expense
112,428
83,535
Amortization of intangible assets
493
528
Write-offs and accruals
38,033
19,090
Gain on equity investments in related companies
-2,262
-13,497
Loss on equity investments in related companies
850
33
Amortization of goodwill
1,632
1,669
(Profit) loss on sales of assets -1,632 -2,939
Los from sale of investments
0
-1,387
Other credits to income not representing cash flows
-3,538
-3,556
Other charges to income not representing cash flows
114,184
172,690
Foreign currency translation, net
8,528
7,585
 
Net Changes In Operating Assets And Liabilities
Accounts receivable
9,111
-185,802
Investories
-117,527
-199,902
Other assets
-63,382
-11,994
Accounts payable
-16,352
58,619
Interest payable
34,236
990
Net income taxes payable
-159,469
-40,705
Other accounts payable
-24,367
-
VAT and taxes payable
3,126
-13,802
Minority interest
-758
7,486
 
NET CASH PROVIDED BY OPERATING ACTIVITIES
186,167
259,712
 
Cash Flows From Financing Activities
Proceeds from bank loans
270,809
70,239
Bonds payable
372,347
-
Payments of dividends
-243,976
-115,990
Repayment of bank financing
-160,000
-50,000
Payment of obligations with the public -2,788 -3,138
Payment of expenses for the issuance and placement of bonds
-4,447
-
 
NET CASH USED IN FINANCING ACTIVITIES
231,945
-98,889
 
Cash Flows From Investing Activities
Sales of property, plant and equipment
1,729
25,382
Sales of permanent investments
-
1,688
Other investing income
2,121
-
Additions to property, plant and equipment
-257,074
-183,671
Capitalized interest
-13,089
-7,405
Other disbursements
-1,662
-565
 
NET CASH USED IN INVESTING ACTIVITIES
-267,975
-164,571
 
Effect of inflation on cash and cash equivalents
14,615
547
Net change in cash and cash equivalents
164,752
-3,201
Beginning balance of cash and cash equivalents
323,920
164,213
 
ENDING BALANCE OF CASH AND CASH EQUIVALENTS
488,672
161,012