Consolidated Statement of Cash Flows
For the year ended 31 December
| (CZK million) | Note | 12/2014 | 12/2013 restated |
|---|---|---|---|
| Cash flow from operating activities | |||
| Earnings before taxes | 4,550 | 5,359 | |
| Adjustments for: | |||
Depreciation and amortisation | F.25. | 481 | 561 |
Amortisation of PVFP and impairment losses on goodwill and PVFP | F.25. | 13 | 14 |
Impairment and reversal of impairment of current and non-current assets | F.19.F.23.F.25. | 184 | 440 |
Profit/Loss on disposal of PPE, intangible assets and investment property | F.20. | (58) | (1) |
Gain / loss from revaluation of financial securities, investment property and financial liabilities at FVTPL | F.3.F.17.F.19.F.23.F.25. | 2,173 | 1,260 |
Gains/losses on disposal of subsidiaries, associates and joint ventures | F.18. | (22) | 78 |
Interest expense | F.23. | 1,531 | 1,560 |
Interest income | F.19. | (4,090) | (4,009) |
Dividend income | F.18.F.19. | (709) | (840) |
Net Interest income from financial instruments at FVTPL | F.17. | 230 | (164) |
Income/expenses not involving movements of cash | (1,819) | (2,458) | |
Share based payments reserve | 1 | (1) | |
| Change in loans and receivables | (1,778) | (128) | |
| Change in receivables | (136) | 20 | |
| Change in reinsurance assets | 313 | (556) | |
| Change in other assets, prepayments and accrued income | (422) | (155) | |
| Change in payables | (131) | 422 | |
| Change in financial liabilities for investment contract with DPF | 6,803 | 7,369 | |
| Change in financial liabilities at FVTPL | (550) | (398) | |
| Change in liabilities to banks | (215) | 995 | |
| Change in insurance liabilities | (6,100) | (2,581) | |
| Change in other liabilities, accruals and deferred income | 106 | (691) | |
| Change in other provisions | (160) | (256) | |
| Interest received | 2,649 | 2,894 | |
| Dividends received | 709 | 821 | |
| Purchase of financial assets at FVTPL | (1,268) | (4,031) | |
| Purchase of financial assets available-for-sale | (32,552) | (39,202) | |
| Proceeds from financial assets at FVTPL | 5,644 | 4,081 | |
| Proceeds from financial assets available-for-sale | 28,508 | 35,103 | |
| Cash flows arising from taxes on income | (826) | (1,685) | |
| Cash flow from operating activities from discontinued operations | F.8. | – | – |
| Net cash flow from operating activities | 3,059 | 3,821 |
| (CZK million) | Note | 12/2014 | 12/2013 restated |
|---|---|---|---|
| Cash flow from investing activities | |||
| Purchase of tangible assets and intangible assets | (125) | (682) | |
| Purchase of investment property | (30) | (23) | |
| Net cashflow from acquisition of subsidiaries, associates and joint ventures, net of cash acquired | B.1. | (1,105) | (957) |
| Provided loans | (1,074) | (1,350) | |
| Proceeds from disposals of tangible and intangible assets | 233 | 152 | |
| Proceeds from disposal and other proceeds from subsidiaries, associates and joint ventures, net of cash disposed | – | 250 | |
| Paid loans | – | 207 | |
| Cash flow from investing activities from discontinued operations | F.8. | – | – |
| Net cash flow from investing activities | (2,101) | (2,403) | |
| Cash flow from financing activities | |||
| Increase in capitalisation (contribution) | 174 | – | |
| Repayment of loans | (3) | – | |
| Interest paid | (10) | (61) | |
| Dividend received | – | 19 | |
| Dividends paid to shareholders | (3,344) | (3,400) | |
| Payment of other liabilities from bonds issued | – | – | |
| Proceeds from other liabilities from bonds issued | – | – | |
| Net cash flow from financing activities | (3,183) | (3,442) | |
| Net increase (decrease) in cash and cash equivalents | (2,225) | (2,024) | |
| Cash and cash equivalents as at 1 January | F.7. | 7,272 | 9,323 |
| Effect of exchange rate changes on cash and cash equivalents | 3 | (27) | |
| Cash and cash equivalents as at 31 December | F.7. | 5,050 | 7,272 |