The National Shipping Company of Saudi Arabia (A Saudi Joint Stock Company) Consolidated Statement of Cash Flow As of December 31, 2012 (in Thousands of Saudi Riyals)
Notes
2012
2011
Cash flows from investing activities: Investments in Murabaha and short-term deposits
(43,395)
3,476
Investment in government bonds
-
17
Investments held to maturity
(10,000)
-
Investments available for sale
2,067
1,104
Investments in affiliates
9
(10,000)
-
Dividends from affiliates
9
35,910
34,087
Additions to fixed assets
11
(23,912)
(390,957)
Proceeds from sale of fixed assets
28,034
296
Ships under construction and other, net
12
(596,475)
(1,025,775)
Deferred dry-docking costs
10
(69,530)
(61,745)
Net cash used in investing activities
(687,301)
(1,439,497)
Cash flows from financing activities: Financing from short-term Murabaha
96,000
64,000
Murabaha financing and long-term loans
657,583
934,565
Repayments of Murabaha financing and long-term loans
(688,778)
(326,740)
Other liabilities
36,750
-
Dividends paid
(157,279)
(311,176)
Change in non-controlling interests
-
(20,000)
Net cash (used in) / provided by financing activities
(55,724)
340,649
Net change in cash and cash equivalents during the year
(70,400)
(700,529)
Cash and cash equivalents at the beginning of the year
384,820
1,085,349
Cash and cash equivalents at the end of the year
314,420
384,820
Non-cash items:
Transfer from ships under construction and other to fixed assets
11-12
649,336
800,111
Deferred charges transferred to fixed assets
10
-
6,661
Unrealized (gain) / loss from available for sale investments
(1,798)
1,570
The accompanying notes from (1) to (25) form an integral part of these consolidated financial statements
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