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Cash Generated from Operations | 12 Months Ended
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Dec. 31, 2017
Text block1 [abstract] |
Cash Generated from Operations |
31. | Cash Generated from Operations
Cash flows from operating activities for the years ended December 31, 2015, 2016 and 2017, are as follows:
(In millions of Korean won) |  | 2015 |  |  | 2016 |  |  | 2017 |
1. Profit for the year |  | ￦ | 624,685 |  |  | ￦ | 795,117 |  |  | ￦ | 546,341 |
2. Adjustments to reconcile net income |  |  |  |  |  |  |  |  |  |  |  |
Income tax expense |  |  | 346,146 |  |  |  | 328,314 |  |  |  | 270,656 |
Interest income |  |  | (161,123 | ) |  |  | (130,066 | ) |  |  | (108,639 | )
Interest expense |  |  | 445,814 |  |  |  | 337,219 |  |  |  | 302,464 |
Dividends income |  |  | (11,371 | ) |  |  | (3,926 | ) |  |  | (4,785 | )
Depreciation |  |  | 3,030,821 |  |  |  | 2,821,779 |  |  |  | 2,802,531 |
Amortization of intangible assets |  |  | 609,185 |  |  |  | 599,721 |  |  |  | 635,150 |
Provision for severance benefits |  |  | 217,787 |  |  |  | 217,255 |  |  |  | 218,966 |
Impairment losses on trade receivables |  |  | 161,448 |  |  |  | 92,711 |  |  |  | 45,704 |
Share of net profit or loss of associates and joint ventures |  |  | (5,562 | ) |  |  | (2,547 | ) |  |  | 15,480 |
Loss(gain) on disposal of associates and joint ventures |  |  | (4,848 | ) |  |  | (1,450 | ) |  |  | 979 |
Impairment loss of associates and joint ventures |  |  | — |  |  |  | 17,128 |  |  |  | 3,662 |
Gain on disposal of subsidiaries |  |  | (256,230 | ) |  |  | — |  |  |  | — |
Loss on disposal of property, plant and equipment and investment in properties |  |  | 129,466 |  |  |  | 74,913 |  |  |  | 150,293 |
Loss on disposal of intangible assets |  |  | 33,978 |  |  |  | 7,703 |  |  |  | 4,271 |
Loss on impairment of intangible assets |  |  | 292,345 |  |  |  | 135,264 |  |  |  | 116,095 |
Loss on foreign currency translation |  |  | 164,374 |  |  |  | 109,784 |  |  |  | (213,341 | )
Loss(gain) on valuation of derivatives |  |  | (306,538 | ) |  |  | (117,181 | ) |  |  | 268,094 |
Impairment losses on available-for-sale financial assets |  |  | 1,805 |  |  |  | 966 |  |  |  | 9 |
Gain on disposal of available-for-sale financial assets |  |  | (131,041 | ) |  |  | (22,695 | ) |  |  | (89,598 | )
Others |  |  | 24,140 |  |  |  | 64,863 |  |  |  | (251,193 | )
3. Changes in operating assets and liabilities |  |  |  |  |  |  |  |  |  |  |  |
Decrease(increase) in trade receivables |  |  | 112,674 |  |  |  | 252,196 |  |  |  | (303,340 | )
Increase in other receivables |  |  | (21,749 | ) |  |  | (770,893 | ) |  |  | (346,013 | )
Decrease(increase) in other current assets |  |  | (19,701 | ) |  |  | 48,549 |  |  |  | 11,792 |
Increase in other non-current assets |  |  | (137,532 | ) |  |  | (51,765 | ) |  |  | (43,790 | )
Decrease(increase) in inventories |  |  | (270,343 | ) |  |  | 167,873 |  |  |  | (205,403 | )
Increase(decrease) in trade payables |  |  | 81,295 |  |  |  | (114,838 | ) |  |  | 162,110 |
Increase(decrease) in other payables |  |  | (48,680 | ) |  |  | 705,807 |  |  |  | 214,689 |
Increase(decrease) in other current liabilities |  |  | (9,452 | ) |  |  | 37,798 |  |  |  | 288,553 |
Increase in other non-current liabilities |  |  | 119,836 |  |  |  | 30,762 |  |  |  | 174,618 |
Decrease in provisions |  |  | (8,902 | ) |  |  | (12,583 | ) |  |  | (12,574 | )
Decrease in deferred revenue |  |  | (82,582 | ) |  |  | (69,179 | ) |  |  | (13,086 | )
Increase in plan assets |  |  | (223,194 | ) |  |  | (224,244 | ) |  |  | (203,420 | )
Payment of severance benefits |  |  | (117,691 | ) |  |  | (121,835 | ) |  |  | (118,391 | )
4. Cash generated from operations (1+2+3) |  | ￦ | 4,579,260 |  |  | ￦ | 5,202,520 |  |  |  | 4,318,884 |
The Group made agreements with securitization specialty companies and disposed of its trade receivables related to handset sales (Note 19). Cash flows from the disposals are presented in cash generated from operations. Significant transactions not affecting cash flows for the years ended December 31, 2015, 2016 and 2017, are as follows:
(In millions of Korean won) |  | 2015 |  |  | 2016 |  |  | 2017 |
Reclassification of the current portion of debentures |  | ￦ | 1,551,300 |  |  | ￦ | 1,617,175 |  |  | ￦ | 1,416,066 |
Reclassification of construction-in-progress to property, plant and equipment |  |  | 2,373,023 |  |  |  | 2,212,324 |  |  |  | 2,686,591 |
Reclassification of accounts payable from property, plant and equipment |  |  | 78,663 |  |  |  | 91,407 |  |  |  | 225,601 |
Reclassification of accounts payable from intangible assets |  |  | (170,870 | ) |  |  | 668,564 |  |  |  | (227,108 | )
Reclassification of payable from defined benefit liability |  |  | 1,675 |  |  |  | 5,746 |  |  |  | 36,209 |
Reclassification of payable from plan assets |  |  | 13,717 |  |  |  | (9,731 | ) |  |  | 43,035 |

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