Chapter 5 Consolidated Financial Statements and Auditor’s Report for the year ended 31 December 2013
The National Shipping Company of Saudi Arabia (A Saudi Joint Stock Company) Consolidated Statement of Cash Flows For the year ended December 31, 2013 (In Thousands of Saudi Riyals)
Notes
2013
2012
Cash flows from investing activities Murabaha and short-term deposits
2,942
(43,395)
Investments held to maturity
-
(10,000)
Available for sale investments
43,550
(7,933)
Associated company transferred to subsidiary company
10
4,641
-
Dividends received from associated company
10
96,591
35,910
Additions of fixed assets
12
(21,277)
(23,912)
Additional discount on received vessels
17,061
-
Proceeds from sale of fixed assets
118,768
44,583
Ships under construction and others, net
13
(975,507)
(584,197)
Deferred dry-docking costs
11
(52,009)
(69,530)
Net cash used in investing activities
(765,240)
(658,474)
Cash flows from financing activities Proceeds from short-term Murabaha financing
177,000
96,000
Proceeds from Murabaha financing and long-term loans
807,835
657,583
Repayment of Murabaha financing and long-term loans
(586,772)
(688,778)
Dividends paid
(313,853)
(157,279)
Non-controlling interests
(10,000)
-
Net cash from (used in) financing activities
74,210
(92,474)
Decrease in cash and cash equivalents during the year
(50,900)
(64,354)
Cash and cash equivalents at the beginning of the year
320,466
384,820
Cash and cash equivalents at the end of the year
3
269,566
320,466
Significant non-cash transactions Ships under construction and others transferred to fixed assets
12-13
1,471,030
649,336
Unrealized (losses) gains on available for sale investments
(115)
1,798
The accompanying notes from (1) to (27) form an integral part of these consolidated financial statements
74/75
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