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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023
Cash flows from operating activities |  |  |  |  |
Cash from operations | [1] | $ 182,431 | $ 229,913 | $ 427,011 | $ 740,869
Income taxes paid |  | (6,575) | (8,450) | (35,091) | (42,407)
Payment for rent |  | (1,362) | (1,204) | (6,871) | (4,147)
Payment for tower and tower equipment decommissioning |  | (27) | (6) | (52) | (327)
Net cash generated from operating activities | [1] | 174,467 | 220,253 | 384,997 | 693,988
Cash flow from investing activities |  |  |  |  |
Purchase of property, plant and equipment | [1] | (52,175) | (119,889) | (173,709) | (383,456)
Payment in advance for property, plant and equipment |  | (9,730) | (18,772) | (15,581) | (88,920)
Purchase of software and licenses |  | (562) | (3,494) | (3,291) | (19,670)
Consideration paid on business combinations, net of cash acquired |  |  | (4,486) |  | (4,486)
Proceeds from sale of subsidiary, net of cash disposed |  |  |  | 4,073 |
Proceeds from disposal of property, plant and equipment |  | 12,962 | 508 | 14,999 | 1,468
Insurance claims received |  | 11 | 32 | 51 | 310
Interest income received |  | 5,017 | 5,761 | 12,851 | 17,338
Deposit of short term deposits |  | (4,077) | (59,173) | (40,590) | (187,938)
Refund of short term deposits |  | 4,037 | 15,908 | 208,717 | 36,631
Net cash (used in)/generated from investing activities | [1] | (44,517) | (183,605) | 7,520 | (628,723)
Cash flows from financing activities |  |  |  |  |
Shares repurchased and canceled through buyback program |  |  | (5,713) |  | (5,713)
Bank loans and bond proceeds received and transaction costs paid |  | (194) | 318,765 | 611,397 | 976,944
Bank loans and bonds repaid |  | (58,998) | (226,741) | (465,823) | (644,591)
Fees on loans and derivative instruments |  | (2,041) | (6,149) | (9,295) | (14,820)
Interest paid |  | (87,037) | (79,173) | (253,001) | (224,118)
Payment for the principal of lease liabilities |  | (11,929) | (14,844) | (44,463) | (59,426)
Interest paid for lease liabilities |  | (15,849) | (15,405) | (46,546) | (40,699)
Net (loss)/gain settled on derivative instruments |  | (2,644) | 145 | (22,571) | 617
Net cash used in financing activities |  | (178,692) | (29,115) | (230,302) | (11,806)
Net (decrease)/increase in cash and cash equivalents |  | (48,742) | 7,533 | 162,215 | 53,459
Cash and cash equivalents at beginning of period |  | 445,713 | 433,048 | 293,823 | 514,078
Effect of movements in exchange rates on cash |  | 528 | (15,145) | (58,539) | (142,101)
Cash and cash equivalents at end of period |  | $ 397,499 | $ 425,436 | $ 397,499 | $ 425,436
[1] | Revised comparative periods to reflect an adjustment related to the accounting treatment of foreign exchange on goods in transit in Nigeria (see note 21).

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