Consolidated Statement of Cash Flow
(Continued) For the year ended December 31, 2010 (In Thousands Saudi Riyals)
Notes
2010
2009
Cash flows from investing activities: Investments in Murabaha and short-term deposits
(13,884)
25,192
Investment held to maturity
---
(30,000)
Investment available for sale
659
78,008
Investments in affiliates and other
---
(153)
Dividends from affiliates
9
3,511
25,509
Additions of fixed assets
11
(4,555)
(23,366)
Proceeds from cancelled contracts
12
701,654 ---
Proceeds from sale of fixed assets
692
88,083
Ships under construction and other, net
12
(266,300) (1,185,974)
Deferred dry-docking costs
10
(22,540)
(1,121)
Net cash provided by (used in) investing activities
399,237 (1,023,822)
Cash flows from financing activities: Short-term Murabaha finance
---
(71,250)
Murabaha financing and long-term loans
140,000 1,637,295
Repayments against Murabaha financing and long-term loans
(759,785)
(809,625)
Dividends paid
(317,293)
(466,741)
Change in minority interest
80,000 ---
Net cash (used in) provided by financing activities
(857,078)
289,679
Net change in cash and cash equivalents during the year
323,731 (297,543)
Cash and cash equivalents at beginning of the year
761,618 1,059,161
Cash and cash equivalents at end of the year
1,085,349 761,618
3
Non-cash items: Ships under construction transferred to fixed assets
11/12
---
1,859,413
Bareboat lease receivable against sale of fixed assets
---
429,725
Unrealized (gain) loss from available for sale investments
(497)
1,570
The accompanying notes from (1) to (26) form an integral part of these consolidated financial statements
The National Shipping Company of Saudi Arabia Annual Report 2010
52
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