XML 33 R6.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statement of Cash Flows - RUB (₽)
₽ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities      
Profit for the period ₽ 13,536 ₽ 12,570 ₽ 8,832
Less loss after tax for the period from discontinued operations, net     426
Profit for the period from continuing operations 13,536 12,570 9,258
Adjustments to reconcile profit from continuing operations to net cash provided by operating activities:      
Depreciation of property, plant and equipment 12,454 12,555 11,813
Amortisation of mineral licenses and other intangible assets 1,405 1,672 1,901
Foreign exchange (gain) loss, net 25,775 (4,237) (25,947)
Deferred income tax (benefit) expense (2,596) (3,401) 5,104
Allowance for expected credit losses on financial assets 940 332 758
Write-off of trade and other receivables 2 109 113
Write-off of inventories to net realisable value 1,162 470 364
Revision in estimated cash flows of rehabilitation provision (38)   (375)
Loss on write-off of non-current assets 859 321 1,953
Impairment of goodwill and other non-current assets 7,222 6,081 5,202
Net result from disposal of non-current assets (128) 21 57
Gain on sale of investments   (2) (186)
Gain on restructuring and forgiveness of trade and other payables and write-off of trade and other payables with expired legal term (425) (963) (115)
Effect of pension obligations 548 (33) (171)
Finance income (34,056) (633) (1,176)
Finance costs including fines and penalties on overdue loans and borrowings and finance leases payments 42,052 47,610 54,240
VEB commissions write-off     1,411
Gain on royalty and other proceeds associated with disposal of Bluestone (3) (474) (121)
Provisions for legal claims, taxes and other provisions 4,940 4,222 1,246
Provision for non-recoverable advances to pension funds     408
Other 68 281 51
Changes in working capital items:      
Trade and other receivables 1,354 (318) (5,542)
Inventories (7,858) (4,508) (1,070)
Trade and other payables 4,150 (3,435) (4,259)
Advances received 485 625 588
Taxes payable and other liabilities 683 (158) 1,122
Other current assets (851) (895) (883)
Income tax paid (3,562) (4,530) (2,101)
Net operating cash flows from discontinued operations     (436)
Net cash provided by operating activities 68,118 63,282 53,207
Cash flows from investing activities      
Loans issued and other investments   (525) (133)
Interest received 188 165 128
Royalty and other proceeds associated with disposal of Bluestone 3 474 103
Proceeds from disposal of subsidiaries, net of cash disposed   94 145
Purchases of available for sale securities     (4)
Proceeds from loans issued and other investments 9 144 31
Proceeds from disposals of property, plant and equipment 215 328 285
Purchases of property, plant and equipment (5,472) (6,460) (4,742)
Purchases of intangible assets (150) (771)  
Interest paid, capitalized (440) (587) (782)
Net cash used in investing activities (5,647) (7,138) (4,969)
Cash flows from financing activities      
Proceeds from loans and borrowings, including proceeds from factoring arrangement of RUB 918 million, RUB 272 million and nil for the periods ended December 31, 2018, 2017 and 2016, respectively 76,504 23,200 4,002
Repayment of loans and borrowings, including payments from factoring arrangement of RUB 435 million, RUB 1,123 million and RUB 2,625 million for the periods ended December 31, 2018, 2017 and 2016, respectively (97,269) (35,033) (42,322)
Repayment of other current financial liabilities (442)    
Dividends paid to shareholders of Mechel PAO (1,386) (856) (5)
Dividends paid to non-controlling interest (8) (122) (2)
Interest paid, including fines and penalties (33,308) (31,948) (33,872)
Acquisition of non-controlling interests in subsidiaries 0 (3,358) 0
Proceeds from sales of 49% stakes in Elga coal complex, with put-option granted     34,300
Repayment of obligations under finance lease (2,780) (3,513) (3,238)
Deferred payments for acquisition of assets (629) (455)  
Deferred consideration paid for the acquisition of subsidiaries in prior periods (3,968) (3,652) (4,732)
Net cash used in financing activities (63,286) (55,737) (45,869)
Foreign exchange loss (gain) on cash and cash equivalents, net 63 (637) (1,807)
Allowance for expected credit losses on cash and cash equivalents (91)    
Net (decrease) increase in cash and cash equivalents (843) (230) 562
Cash and cash equivalents at beginning of period 2,452 1,689 3,079
Cash and cash equivalents, net of overdrafts at beginning of period 1,223 1,453 891
Cash and cash equivalents at end of period 1,803 2,452 1,689
Cash and cash equivalents, net of overdrafts at end of period ₽ 380 ₽ 1,223 ₽ 1,453