Cash Flow Statements
for the year ended 31 December 2008
| CONSOLIDATED | PARENT ENTITY | ||||
| Thousands of dollars | Note | 2008 | 2007 | 2008 | 2007 |
|---|---|---|---|---|---|
| Cash flows from operating activities | |||||
| Receipts from customers | 27,608,324 | 21,468,811 | – | – | |
| Receipts from subsidiaries | – | – | 203,699 | 181,464 | |
| Payments to suppliers, employees and governments | (26,957,677) | (20,670,462) | (243) | – | |
| Dividends and disbursements received | 1,176 | 3,915 | 191,544 | 222,983 | |
| Interest received | 3,521 | 8,969 | 61,458 | 64,046 | |
| Interest and other finance costs paid | (66,324) | (54,232) | (62,569) | (51,980) | |
| Income taxes paid | (208,810) | (161,605) | (207,836) | (160,013) | |
| Net operating cash inflows | 26 | 380,210 | 595,396 | 186,053 | 256,500 |
| Cash flows from investing activities | |||||
| Purchase of controlled entities, net of cash acquired | (1,456) | (11,747) | – | – | |
| Purchases of property, plant and equipment | (391,824) | (293,310) | – | – | |
| Major cyclical maintenance | (35,246) | (57,874) | – | – | |
| Purchases of intangibles | (11,998) | (22,211) | – | – | |
| Net proceeds from sale of property, plant and equipment | 4,383 | 17,718 | – | – | |
| Loans to controlled entities | – | – | (269,040) | (182) | |
| Net investing cash (outflows) | (436,141) | (367,424) | (269,040) | (182) | |
| Cash flows from financing activities | |||||
| Proceeds from borrowings | 11,927,841 | 9,463,518 | 11,924,450 | 9,455,000 | |
| Repayments of borrowings | (11,663,360) | (9,472,701) | (11,655,407) | (9,454,818) | |
| Repayment of finance lease principal | (4,566) | (1,872) | – | – | |
| Dividends paid to minority interest | – | (1,997) | – | – | |
| Dividends paid | (186,300) | (256,500) | (186,300) | (256,500) | |
| Net financing cash inflows/(outflows) | 73,615 | (269,552) | 82,743 | (256,318) | |
| Net increase/(decrease) in cash and cash equivalents | 17,684 | (41,580) | (244) | – | |
| Cash and cash equivalents at the beginning of the year | 14,019 | 55,599 | 244 | 244 | |
| Cash and cash equivalents at the end of the year | 31,703 | 14,019 | – | 244 | |
The cash flow statements are to be read in conjunction with the notes to the financial statements.