Cash Flow Information

12 Months Ended

Dec. 31, 2024

27.

Cash Flow Information

(a)

Details of cash flows generated from operations for the years ended December 31, 2022, 2023 and 2024 are as follows:


(In millions of won)
	2022			2023			2024
Loss for the year	₩	(3,195,585	)		(2,576,729	)		(2,409,300	)
Adjustments for:
Income tax expense (benefit) (Note 22)		(237,785	)		(762,712	)		217,760
Depreciation and amortization (Note 18)		4,557,457			4,213,742			5,125,637
Gain on foreign currency translation		(702,144	)		(313,378	)		(587,019	)
Loss on foreign currency translation		449,980			241,701			979,061
Expenses related to defined benefit plans (Note 13)		168,260			149,937			130,014
Gain on disposal of property, plant and equipment		(25,737	)		(34,961	)		(51,792	)
Loss on disposal of property, plant and equipment		54,432			102,453			76,771
Impairment loss on property, plant and equipment		1,260,436			60,072			98,525
Reversal of impairment loss on property, plant and equipment		(3,181	)		(7	)		(4,314	)
Gain on disposal of intangible assets		—			(1,989	)		(25	)
Loss on disposal of intangible assets		193			55			388
Impairment loss on intangible assets		136,372			54,833			72,490
Reversal of impairment loss on intangible assets		(1,975	)		(242	)		(14	)
Impairment loss on investments		7,736			—			—
Expense on increase of provision		253,075			101,846			119,141
Finance income		(607,501	)		(594,944	)		(511,068	)
Finance costs		781,205			1,162,598			1,480,007
Equity in loss (income) of equity method accounted investees, net		(5,558	)		3,061			(5,412	)
Others		(1,681	)		(7,030	)		(85,651	)


Changes in:
Trade accounts and notes receivable		1,833,491		(1,013,938	)	(395,513	)
Other accounts receivable		(47,389	)	39,377		(142,775	)
Inventories		390,672		336,993		(85,850	)
Other current assets		435,838		92,983		(14,479	)
Other non-current assets		(10,125	)	1,151		2,537
Trade accounts and notes payable		(282,082	)	323,548		(46,796	)
Other accounts payable		(625,606	)	(47,798	)	(529,621	)
Accrued expenses		(514,500	)	(47,088	)	92,474
Provisions		(259,969	)	(179,969	)	(134,684	)
Advances received		(1,977	)	(19,461	)	(16,161	)
Proceeds from settlement of derivatives		—		—		35,757
Other current liabilities		(4,188	)	(33,367	)	(4,050	)
Defined benefit liabilities, net		(381,405	)	(45,123	)	(38,018	)
Long-term advances received		—		1,580,222		—
Other non-current liabilities		167,868		33,493		5,436
Cash generated from operations	₩	3,588,627		2,819,329		3,373,456

27.

Cash Flow Information, Continued

(b)

Changes in liabilities arising from financing activities for the years ended December 31, 2023 and 2024 are as follows:


(In millions of won)
						Non-cash transactions
	January 1, 2023		Cash flows from financing activities			Gain or loss on foreign currency translation			Interest expense		Others		December 31, 2023
Short-term borrowings	₩	2,578,552		(716,386	)		13,469			—		—		1,875,635
Long-term borrowings		10,964,112		2,139,554			50,174			3,271		8,240		13,165,351
Bonds		1,448,746		35,276			2,237			1,717		167		1,488,143
Lease liabilities		72,788		(73,483	)		(312	)		—		74,371		73,364
Dividend payable		—		(34,098	)		(44	)		—		41,444		7,302
Total	₩	15,064,198		1,350,863			65,524			4,988		124,222		16,609,795


(In millions of won)
						Non-cash transactions
	January 1, 2024		Cash flows from financing activities			Gain or loss on foreign currency translation		Interest expense		Classification of liabilities held for sale			Others		December 31, 2024
Short-term borrowings	₩	1,875,635		(1,065,878	)		159,838		—		—			—		969,595
Long-term borrowings		13,165,351		(726,352	)		1,051,834		4,203		(1,060,592	)		8,236		12,442,680
Bonds		1,488,143		(370,000	)		18,004		1,692		—			—		1,137,839
Lease liabilities		73,364		(71,008	)		16,752		—		(6,772	)		45,639		57,975
Dividend payable		7,302		(136,519	)		268		—		—			135,339		6,390
Total	₩	16,609,795		(2,369,757	)		1,246,696		5,895		(1,067,364	)		189,214		14,614,479

(c)

Details of significant non-cash transactions for the years ended December 31, 2022, 2023 and 2024 are as follows:


(In millions of won)
	2022			2023			2024
Changes in other accounts payable arising from the purchase of property, plant and equipment	₩	480,322			(348,046	)		(630,267	)
Changes in other accounts payable arising from the purchase of intangible assets		(113,185	)		(27,918	)		(137,918	)
Recognition of right-of-use assets and lease liabilities		54,927			74,611			33,865
Reclassification of the current portion of borrowings/bonds		(3,626,345	)		(3,441,686	)		(6,559,088	)
Classification of assets held for sale		—			—			983,317
Classification of liabilities held for sale		—			—			1,656,841