XML 31 R9.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES    
Net income $ 462,288 $ 555,911
Deduct earnings of associate (76,938) (97,743)
Dividends received from associate 97,174 74,458
Add (deduct) non-cash items:    
Depreciation and amortization 372,420 363,084
Income tax expense 119,859 110,427
Share-based compensation expense (recovery) 15,398 (1,160)
Finance costs 130,752 144,406
Other (12,985) (3,877)
Interest received 9,590 443
Income taxes paid (163,828) (57,941)
Other cash payments, including share-based compensation (20,503) (10,530)
Cash flows from operating activities before undernoted 933,227 1,077,478
Changes in non-cash working capital (note 17(a)) 54,122 (83,109)
Cash flows from/(used in) operating activities 987,349 994,369
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES    
Payments for repurchase of shares (252,985) (62,898)
Dividend payments to Methanex Corporation shareholders (43,955) (24,634)
Interest paid (161,816) (165,059)
Repayment on Geismar 3 construction facility 0 (173,000)
Repayment of long-term debt and financing fees (note 8) (9,151) (62,381)
Repayment of lease obligations (105,863) (101,054)
Release of restricted cash relating to limited recourse debt facilities 0 28,926
Equity contributions by non-controlling interests 0 650
Distributions to non-controlling interests (84,713) (110,406)
Proceeds on issue of shares on exercise of stock options 582 252
Proceeds from other limited recourse debt 0 25,161
Restricted cash for debt service accounts (1,394) 0
Sale of partial interest in subsidiary 148,990 0
Changes in non-cash working capital related to financing activities (note 17(a)) 1,771 1,350
Cash flows from (used in) financing activities (508,534) (643,093)
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES    
Property, plant and equipment (145,701) (103,485)
Geismar plant under construction (431,680) (141,952)
Changes in non-cash working capital related to investing activities (note 17(a)) 24,244 (7,611)
Cash flows from (used in) investing activities (553,137) (253,048)
Increase (decrease) in cash and cash equivalents (74,322) 98,228
Cash and cash equivalents, beginning of year 932,069 833,841
Cash and cash equivalents, end of year $ 857,747 $ 932,069