bold spirit - ArcelorMittal South Africa

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ArcelorMittal South Africa
Annual Report 2010
Group and company statements of cash flows
for the year ended 31 December 2010
Notes
2010
Rm
Group
2009
Rm
2010
Rm
Company
2009
Rm
Cash generated from operations 25.1 2 666 4 706 2 635 4 904
Interest income 69 199 67 197
Finance cost (85) (122) (56) (89)
Dividends paid 25.2 (602) (1 627) (669) (1 627)
Income tax paid 25.3 (653) (934) (656) (847)
Realised foreign exchange movements (58) (529) (46) (487)
Cash flows from operating activities 1 337 1 693 1 275 2 051
Investment to maintain operations 25.4 (1 259) (784) (1 064) (733)
Investment to expand operations 25.5 (455) (130) (443) (125)
Investment in associates (120) (524) (120) (524)
Dividend from equity-accounted investments 126 88
Income from investments – dividends 1 6
Income from investments – interest 2 3 2 3
Cash flows from investing activities (1 706) (1 347) (1 624) (1 373)
Borrowings and other payables repaid (43) (58) (32) (48)
Finance lease obligation repaid (320) (82) (311) (74)
Increase in loans to subsidiaries (317) (4 151)
Increase in contributions to the Management
Share Trust and other (11) (17) (11) (19)
Repurchase of shares (3 918)
Cash flows from financing activities (374) (4 075) (671) (4 292)
Decrease in cash and cash equivalents (743) (3 729) (1 020) (3 614)
Effect of foreign exchange rate changes on
cash and cash equivalents (99) (352) (47) (285)
Cash and cash equivalents at beginning
of year 4 348 8 429 4 222 8 121
Cash and cash equivalents at end of year 3 506 4 348 3 155 4 222