Cemex 2012 Annual Report Download - page 41

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41
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Years ended December 31,
Notes 2012 2011 2010
Operating activities
Consolidated net loss $ (11,219) (24,767) (13,436)
Non-cash items:
Depreciation and amortization of assets 5 17,184 17,536 19,108
Impairment losses 6 1,661 1,751 1,904
Equity in loss of associates 13A (728) 334 487
Other expenses (income), net 1,592 (1,559) 1,162
Comprehensive financing result 17,358 18,841 15,276
Income taxes 19 6,097 12,207 2,074
Changes in working capital, excluding income taxes (2,048) (727) (623)
Net cash flow provided by operating activities
before interest and income taxes 29,897 23,616 25,952
Financial expense paid in cash including coupons on perpetual debentures 20D (19,564) (13,352) (14,968)
Income taxes paid in cash (4,709) (3,778) (4,310)
Net cash flows provided by operating activities 5,624 6,486 6,674
Investing activities
Property, machinery and equipment, net 14 (5,597) (3,198) (4,726)
Disposal (acquisition) of subsidiaries and associates, net 13, 15 (895) 1,232 1,172
Intangible assets and other deferred charges 15 (438) (932) 117
Long term assets and others, net 4,696 1,406 1,565
Net cash flows used in investing activities (2,234) (1,492) (1,872)
Financing activities
Issuance of common stock 20A – 11 5
Issuance of common stock by subsidiaries 20D 12,442 – –
Derivative instruments 1,633 (5,464) 69
Issuance (repayment) of debt, net 16A (17,239) 5,702 (9,615)
Securitization of trade receivables (193) 2,890 121
Non-current liabilities, net (1,679) 1,430 140
Net cash flows (used in) provided by financing activities (5,036) 4,569 (9,280)
Increase (decrease) in cash and cash equivalents (1,646) 9,563 (4,478)
Cash conversion effect, net (2,004) (1,789) (1,272)
Cash and cash equivalents at beginning of year 16,128 8,354 14,104
Cash and cash equivalents at end of year 8 $ 12,478 16,128 8,354
Changes in working capital, excluding income taxes:
Trade receivables, net $ 2,956 (2,211) 133
Other accounts receivable and other assets (2,010) 1,306 (2,484)
Inventories 1,412 (575) (146)
Trade payables (424) (454) 1,599
Other accounts payable and accrued expenses (3,982) 1,207 275
Changes in working capital, excluding income taxes $ (2,048) (727) (623)
Consolidated
statements of
cash flows
CEMEX, S.A.B. de C.V. and subsidiaries
(Millions of Mexican pesos)
The accompanying notes are part of these consolidated
financial statements.