| Español |
|
For the years ended December 31, 2012 and 2011
Amounts expressed in millions of U.S. dollars ($) and in millions of Mexican pesos (Ps.)
| 2012 (*) | 2012 | 2011 | ||||
|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||
| Income before income taxes and share of the profit of associates and joint ventures accounted for using the equity method |
$ | 2,124 | Ps. | 27,530 | Ps. | 23,552 |
| Adjustments for: | ||||||
| Non-cash operating expenses | 258 | 3,333 | 1,711 | |||
| Depreciation | 553 | 7,175 | 5,694 | |||
| Amortization | 55 | 715 | 469 | |||
| Gain on sale of long-lived assets | (10)) | (132) | (95) | |||
| Gain on sale of shares | (166) | (2,148) | - | |||
| Disposal of long-lived assets | 10 | 133 | 656 | |||
| Impairment of long-lived assets | 30 | 384 | 146 | |||
| Interest income | (60) | (783) | (1,014) | |||
| Interest expenses | 193 | 2,506 | 2,302 | |||
| Foreign exchange loss (gain), net | 14 | 176 | (1,148) | |||
| Monetary position loss (gain), net | 1 | 13 | (53) | |||
| Market value (gain) loss on financial instruments | (1) | (8) | 109 | |||
| Cash flow from operating activities before changes in working capital and provisions | 3,001 | 38,894 | 32,329 | |||
| Accounts receivable and other current assets | (57) | (746) | (2,990) | |||
| Other current financial assets | (75) | (977) | (94) | |||
| Inventories | (177) | (2,289) | (2,277) | |||
| Derivative financial instruments | (1) | (17) | (43) | |||
| Suppliers and other accounts payable | 296 | 3,833 | 1,364 | |||
| Other long-term liabilities | (1) | (18) | (391) | |||
| Other current financial liabilities | 25 | 329 | 116 | |||
| Post-employment and other long-term employee benefits | (16) | (209) | (348) | |||
| Cash generated from operations | 2,995 | 38,800 | 27,666 | |||
| Income taxes paid | (618) | (8,015) | (6,419) | |||
| Net cash generated by operating activities | 2,377 | 30,785 | 21,247 | |||
| Cash flows from investing activities: | ||||||
| Acquisition of Grupo Tampico, net of cash acquired (see Note 4) | - | - | (2,414) | |||
| Acquisition of Grupo CIMSA, net of cash acquired (see Note 4) | - | - | (1,912) | |||
| Acquisition of Grupo Fomento Queretano, net of cash acquired (see Note 4) | (86) | (1,114) | - | |||
| Disposals of subsidiaries and associates, net of cash | 81 | 1,055 | - | |||
| Purchase of investments | (217) | (2,808) | (1,351) | |||
| Proceeds from investments | 195 | 2,534 | 68 | |||
| Interest received | 60 | 777 | 1,029 | |||
| Derivative financial instruments | 7 | 94 | 6 | |||
| Dividends received from associates and joint ventures | 131 | 1,697 | 1,661 | |||
| Long-lived assets acquisitions | (1,145) | (14,844) | (12,046) | |||
| Proceeds from the sale of long-lived assets | 28 | 362 | 535 | |||
| Acquisition of intangible assets | (34) | (441) | (639) | |||
| Other assets | (191) | (2,471) | (2,102) | |||
| Other financial assets | 40 | 516 | (924) | |||
| Net cash used in investing activities | $ | (1,131) | Ps. | (14,643) | Ps. | (18,089) |
| Cash flows from financing activities: | ||||||
| Proceeds from borrowings | $ | 1,084 | Ps. | 14,048 | Ps. | 6,606 |
| Payments of bank loans | (453) | (5,872) | (3,732) | |||
| Interest paids | (168) | (2,172) | (2,020) | |||
| Derivative financial instruments | (16) | (209) | (359) | |||
| Dividends paid | (709) | (9,186) | (6,625) | |||
| Acquisition of non-controlling interests | - | (6) | (115) | |||
| Other financing activities | (2) | (21) | (13) | |||
| Net cash used in financing activities | (264) | (3,418) | (6,258) | |||
| Increase (decrease) in cash and cash equivalents | 982 | 12,724 | (3,100) | |||
| Initial balance of cash and cash equivalents | 1,993 | 25,841 | 26,705 | |||
| Effects of exchange rate changes and inflation effects on cash and cash equivalents held in foreign currencies |
(158) | (2,044) | 2,236 | |||
| Ending balance of cash and cash equivalents | $ | 2,817 | Ps. | 36,521 | Ps. | 25,841 |
(*) Convenience translation to U.S. dollars ($) – see Note 2.2.3
The accompanying notes are an integral part of these consolidated statements of cash flow.
