XML 45 R7.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities      
Income for the year $ 873,900 $ 536,389 $ 58,739
Adjustments for:      
Depreciation and amortization 664,357 608,640 662,412
Income tax accruals less payments 58,494 (193,989) (128,079)
Equity in earnings of non-consolidated companies (193,994) (116,140) (71,533)
Interest accruals less payments, net 6,151 11,550 (2,567)
Changes in provisions (8,396) (17,245) 15,597
Income from the sale of Conduit business (89,694)
Changes in working capital (737,952) (853,184) 330,964
Derivatives, currency translation adjustment and others (51,758) 91,648 (1,968)
Net cash provided by (used in) operating activities 610,802 (22,025) 863,565
Cash flows from investing activities      
Capital expenditures (349,473) (558,236) (786,873)
Changes in advance to suppliers of property, plant and equipment 4,851 7,077 50,989
Proceeds from disposal of Conduit business 327,631
Investment in non-consolidated companies (17,108)
Acquisition of subsidiaries (10,418)
Investment in companies under cost method (3,681)
Loan to non-consolidated companies (14,740) (10,956) (116,616)
Repayment of loan by non-consolidated companies 9,370 3,900 74,222
Proceeds from disposal of property, plant and equipment and intangible assets 6,010 5,443 23,609
Dividends received from non-consolidated companies 25,722 22,971 20,674
Changes in investments in securities 717,368 565,387 652,755
Net cash provided by (used in) investing activities 399,108 349,118 (98,348)
Cash flows from financing activities      
Dividends paid (484,020) (484,020) (507,631)
Dividends paid to non-controlling interest in subsidiaries (3,498) (24,000) (29,089)
Changes in non-controlling interests (24) (49) (1,071)
Proceeds from borrowings 1,019,302 1,196,781 1,180,727
Repayments of borrowings (1,432,202) (1,090,129) (1,295,560)
Net cash used in financing activities (900,442) (401,417) (652,624)
Increase (decrease) in cash and cash equivalents 109,468 (74,324) 112,593
Movement in cash and cash equivalents      
At the beginning of the year 330,090 398,580 286,198
Effect of exchange rate changes (12,841) 5,834 (211)
Increase (decrease) in cash and cash equivalents 109,468 (74,324) 112,593
At December 31, 426,717 330,090 398,580
Cash and bank deposits 428,361 330,221 399,900
Bank overdrafts $ (1,644) $ (131) $ (1,320)