Financial Statements Report 2011
Consolidated Statement of Cash Flows For the year ended December 31, 2011 (In Thousands Saudi Riyals)
Cash flows from investing activities:
Notes
2011
2010
Investments in Murabaha and short-term deposits
3,476
(13,884)
Investment in government bonds
17
-
Investment available for sale
1,104
659
Dividends received from affiliate
9
34,087
3,511
Additions of fixed assets
11
(390,957)
(4,555)
Proceeds from cancelled ship construction contracts
12
---
701,654
Proceeds from sale of fixed assets
296
692
Ships under construction and other, net
12
(1,025,775)
(266,300)
Deferred dry-docking costs
10
(61,745)
(22,540)
Net cash provided by (used in) investing activities
(1,439,497)
399,237
Cash flows from financing activities:
Short-term Murabaha finance
64,000
-
Murabaha financing and long-term loans
934,565
140,000
Repayments against Murabaha financing and long-term loans
(326,740)
(759,785)
Dividends paid
(311,176)
(317,293)
Change in minority interest
(20,000)
80,000
Net cash provided by (used in) financing activities
340,649
(857,078)
Net change in cash and cash equivalents during the year
(700,529)
323,731
Cash and cash equivalents at beginning of the year
1,085,349
761,618
Cash and cash equivalents at end of the year
3
384,820
1,085,349
Non-cash items:
Ships under construction transferred to fixed assets
11/12
800,111
-
Deferred charges transferred to fixed assets
10
6,661
-
Unrealized loss (gain) from available for sale investments
1,570
(497)
The accompanying notes from (1) to (26) form an integral part of these consolidated financial statements
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