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30. Cash Flows
(a) Details of cash flows from operating for the years ended December 31, 2015 and 2014 are summarized as follows:
(In millions of won)
2015 2014
Profit for the year
₩
2,630,600 2,993,593
Adjustments for:
Retirement and severance benefits 301,393 252,675
Depreciation 969,287 928,021
Amortization 453,210 409,244
Warranty expenses 1,365,271 997,232
Income tax expense 469,666 822,723
Gain on investment in associates, net (894,873) (1,394,152)
Interest expenses(income) (84,905) (149,342)
Dividends income (5,775) (13,713)
Losses(gains) on foreign currency translations 150,742 266,107
Losses(gains) on sale of property, plant and equipment 24,957 31,672
Others 23,536 89,252
2,772,509 2,239,719
Changes in assets and liabilities:
Accounts and notes receivable - trade
₩
(4,931) (356,238)
Accounts and notes receivable - other (187,633) (28,772)
Inventories (1,579,777) (1,814,936)
Accounts and notes payable - trade 10,269 479,929
Advances received 469,439 (58,353)
Accounts and notes payable - other 657,304 260,469
Accrued expenses 135,038 239,186
Payment of retirement benefits (41,023) (31,935)
Change of net defined benefit liability (337,865) (256,569)
Payment of warranty expenses (1,025,118) (898,615)
Other 68,241 (88,091)
(1,836,056) (2,553,925)
Cash generated from operations
₩
3,567,053 2,679,387
102 | KIA MOTORS
December 31, 2015 and 2014
KIA MOTORS CORPORATION AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS