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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Classes of cash receipts from operating activities      
Cash receipts from sales of goods and rendering of services $ 2,705,250 $ 1,940,720 $ 2,044,746
Cash receipts from premiums and benefits, annuities and other benefits from policies entered 1,902 14,763 2,925
Cash receipts derived from sub-leases 443 188 361
Classes of Payments      
Cash payments to suppliers for the provision of goods and services (1,713,922) (1,520,209) (1,479,986)
Cash payments relating to variable leases (1,313) (1,117) (1,037)
Other payments related to operating activities (16,726) (87,278) (25,218)
Net cash generated from operating activities 975,634 347,067 541,791
Dividends received 11,663 5,387 14,449
Interest paid (82,816) (81,567) (70,963)
Interest paid on lease liabilities (1,587) (1,133) (1,537)
Interest received 2,747 17,046 25,809
Income taxes paid (142,730) (200,624) (173,319)
Other cash inflows [1] 59,609 96,058 90,741
Net cash generated from operating activities 822,520 182,234 426,971
Cash flows from (used in) investing activities      
Proceeds from the sale of equity instruments 16,413 0 0
Cash flows arising from the loss/gain of control of subsidiaries and other businesses 0 20,996 994
Proceeds from the sale of property, plant and equipment 672 1,680 487
Other payments to acquire interest in joint ventures 0 (16,949) (2,600)
Proceeds from the sale of joint ventures 13,085 0 0
Acquisition of property, plant and equipment (464,718) (322,242) (321,324)
Proceeds from sales of intangible assets 14,773 8,203 28,126
Proceeds (payments) related to futures, forward options and swap contracts 2,328 (6,902) 1,403
Purchases of intangible assets 0 (579) (2,492)
Loans from / to related parties 13,086 (15,000) 0
Purchase of other long-term assets (8,071) 0 0
Other cash (outflows) inflows [2] (594,511) 163,702 (190,065)
Cash flow used in investing activities (1,006,943) (167,091) (485,471)
Cash flows generated from (used in) financing activities      
Repayment of lease liabilities (7,960) (8,015) (7,221)
Proceeds from long-term loans 700,000 400,000 450,000
Payment of borrowings (14,110) (264,122) (7,096)
Paid Dividends (571,702) (221,995) (329,787)
Capital stock increase 1,100,257 0 0
Net cash generated from financing activities 1,206,485 (94,132) 105,896
Net Increase in cash and cash equivalents before the effect of changes in the exchange rate 1,022,062 (78,989) 47,396
Effects of exchange rate fluctuations on cash and cash equivalents (16,113) (439) (14,932)
Increase in cash and cash equivalents 1,005,949 (79,428) 32,464
Cash and cash equivalents at beginning of year 509,102 588,530 556,066
Cash and cash equivalents at end of year $ 1,515,051 $ 509,102 $ 588,530
[1] Other inflows (outflows) of cash from operating activities include net increases (decreases) of value added tax, banking expenses, expenses associated with obtaining loans and taxes associated with interest payments.
[2] Other inflows (outflows) of cash include investments and redemptions of time deposits and other financial instruments that do not qualify as cash and cash equivalent in accordance with IAS 7, paragraph 7, since they mature in more than 90 days from the original investment date.