XML 20 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities        
Net income $ 3,311 $ 19,016 $ 33,017 $ 63,491
Depreciation and amortization 9,341 10,290 27,030 31,117
Earnings from equity-accounted investments (3,960) (45) (7,389) (778)
Interest on Cedar Cellular note (Note 6) (587)   (769)  
Fair value adjustments (110) (50) (209) (61)
Interest payable (17) 75 (264) 84
Facility fee amortized 120 27 467 94
(Profit) Loss on disposal of property, plant and equipment (50) (98) 71 (571)
Profit on disposal of business     (463)  
Stock-based compensation charge (reversal), net (Note 13) 575 621 2,010 (68)
Dividends received from equity accounted investments 1,946   4,111 370
Impairment loss (note 7) 19,865   19,865  
Decrease (Increase) in accounts receivable, pre-funded social welfare grants receivable and finance loans receivable 42,558 (16,612) 9,422 (2,261)
Decrease (Increase) in inventory 1,072 3,893 (2,776) 308
Increase (Decrease) in accounts payable and other payables 2,827 (1,486) 5,775 (4,386)
Decrease in taxes payable 9,007 6,678 8,091 5,819
Decrease in deferred taxes (653) (506) (225) (1,752)
Net cash provided by operating activities 85,245 21,803 97,764 91,406
Cash flows from investing activities        
Capital expenditures (4,225) (1,949) (7,801) (8,498)
Proceeds from disposal of property, plant and equipment 160 330 575 1,344
Investment in Cell C (Note 6)     (151,003)  
Investment in equity of equity-accounted investments (Note 6) (18,597)   (132,335)  
Loans to equity-accounted investments (Note 6) (10,635) (2,000) (10,635) (12,044)
Acquisition of held to maturity investment (Note 6)     (9,000)  
Investment in MobiKwik       (15,347)
Acquisitions, net of cash acquired       (4,651)
Other investing activities     (154)  
Net change in settlement assets (Note 4) 43,222 (165,945) 280,390 54,827
Net cash provided by (used in) investing activities 9,925 (169,564) (29,963) 15,631
Cash flows from financing activities        
Long-term borrowings utilized (Note 10) 17,726 274 113,157 521
Repayment of long-term borrowings (Note 10) (15,826)   (60,967) (28,493)
Repayment of bank overdraft (Note 9) (42,650)   (56,993)  
Proceeds from bank overdraft (Note 9) 9,802   42,372  
Guarantee fee paid (Note 10) (202)   (754) (1,145)
Proceeds from issue of common stock   45,629   45,629
Acquisition of treasury stock (Note 11)       (32,081)
Dividends paid to non-controlling interest       (613)
Net change in settlement obligations (Note 4) (43,222) 165,955 (280,390) (54,817)
Net cash (used in) provided by financing activities (74,372) 211,858 (243,575) (70,999)
Effect of exchange rate changes on cash 1,478 4,719 4,489 8,025
Net increase (decrease) in cash, cash equivalents and restricted cash 22,276 68,816 (171,285) 44,063
Cash, cash equivalents and restricted cash - beginning of period 64,896 198,891 258,457 223,644
Cash, cash equivalents and restricted cash - end of period [1] $ 87,172 267,707 $ 87,172 267,707
Restricted cash   $ 44,700   $ 44,700
[1] Cash, cash equivalents and restricted cash as of March 31, 2017, includes restricted cash of approximately $44.7 million related to the guarantee issued by FirstRand Bank Limited (acting through its Rand Merchant Bank division). This cash was placed into an escrow account and was considered restricted as to use and therefore was classified as restricted cash. The restriction lapsed upon expiry of the guarantee.