Bahri Annual Report-2014

Consolidated Statement of Cash Flows for the Year Ending in December 31, 2014 (in Thousands Saudi Riyals)

Notes

2014

2013

Cash flows from operating activities: Net income for the year

533,840

752,262

Adjustments to reconcile net income for the year to net cash flows from operating activities: Depreciation

540,673 46,965 15,249

13 11 12

423,523

Amortization of deferred dry-docking costs

46,012

Amortization of intangible assets

-

4,360

Provision for doubtful debt

5 , 21

8

(131,956)

Share in results of an associated company

10 22

(291,235)

(3,096) 28,504 37,436

Gains from sale of fixed assets

(75,496)

Non-controlling interests

36,863 49,858

Zakat and withholding tax, net

18

6,074

Employees’ end of service benefits, net

6,547

-

Unrealized gain from available for sale investments

(2,562) 945,780

1,078,049

Changes in operating assets and liabilities: Trade receivables, net

(59,951)

(329,178)

15,257

Bareboat lease receivable, net

10,143 49,560

(69,901) (23,214) (94,356) (73,527) 14,269 187,675 (33,445)

Prepayments and other receivables

Agents’ current accounts

(25,306)

Inventories

(101,066)

Accrued bunker subsidy, net

8,673

Incomplete voyages

16,919 78,637

Accounts payable and accruals Zakat and withholding tax paid Investments held for trading

18

(29,729) 26,384 (6,046) 644,771

- -

Other liabilities

19

Net cash from operating activities

940,856

continued,,,

103

The National Shipping Company of Saudi Arabia ( )

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