عربي

Annual Report 2010

Mubadala

Mubadala Development Company PJSC

Consolidated Statement of Cash Flows

for the year ended 31 December



Note

 2010
AED ‘000

 2009
AED ‘000
(Restated)1
Cash flows from operating activities
Profit for the year 1,127,756 4,979,938
Adjustments for:
Depreciation 15 1,740,505 1,307,539
Amortization and write off of intangible assets 16 425,991 162,084
Change in fair value of investment properties 17 927,650 (44,060)
Impairment losses on intangible assets and property, plant and equipment 15,16 519,532 201,528
Reversal of impairment losses on intangible assets and property, plant and equipment 15,16 - (655,775)
Gain on disposal of property, plant and equipment - (128,084)
Gain on acquisition of stake in a subsidiary - (167,941)
Net change in fair value of financial instruments at fair value through profit or loss (net) 13 (582,700) (3,753,668)
Other impairment losses 14 26,781 331,012
Impairment losses on equity accounted investees 14 10,295 365,652
Impairment losses on available for sale financial assets 14 227,273 639,578
Reversal of impairment losses on an equity accounted investee 19(b) - (148,067)
Gain on disposal of investment in an equity accounted investee (75,646) -
Gain on disposal of investment in subsidiaries 7(b) (57,270) -
Gain on disposal of other investments 7(b),13 (177,658) (25,092)
Share of results of equity accounted investees
  - associates 19(a) (86,526) (14,928)
  - jointly controlled entities 19(b) (729,527) (536,773)
Finance income 12 (1,399,653) (1,000,849)
Finance expense 12 1,624,910 1,152,899
Income tax expense 35 168,147 395,804
Dividend income 13 (331,378) (413,190)
3,358,482 2,647,607
Change in inventories 23 (169,074) (210,689)
Change in receivables and prepayments 7,24 (2,698,913) (4,222,065)
Change in payables and accruals 7,27 576,652 461,106
Change in other liabilities 7,30 (655,902) 649,011
Change in other assets 7,22 (84,164) (134,172)
Income taxes paid (283,675) (403,505)
Net cash from / (used in) operating activities 43,406 (1,212,707)
Cash flows from investing activities
Proceeds from disposal of equity accounted investees 19 87,051 -
Proceeds from disposal of other investments 259,438 89,928
Proceeds from disposal of assets held for sale 25 3,593,818 -
Acquisition of subsidiaries net of cash 7 (126,817) 724,179
Proceeds from disposal of subsidiaries and working interest (net of cash disposed) 7 288,904 -
Investment in equity accounted investees 19 (2,530,765) (1,261,610)
Acquisition of other investments 20 (3,496,201) (1,964,948)
Acquisition of property, plant and equipment 15 (8,983,602) (8,285,488)
Acquisition of intangible assets 16 (357,233) (615,583)
Acquisition of other assets - (18,768)
Proceeds from disposal of property, plant and equipment 53,969 341,791
Loans given 21 (8,521,446) (919,923)
Interest received 1,358,567 579,583
Dividends received from equity accounted investees 19 957,419 712,239
Dividends received from other investments 13 331,378 289,169
Net cash used in investing activities (17,085,520) (10,329,431)
Cash flows from financing activities
Proceeds from interest bearing loans 29 6,415,197 16,899,208
Repayment of borrowings 29 (6,802,125) (4,624,051)
Additional shareholder contributions 33 13,000,000 8,751,192
Interest paid (1,259,936) (971,100)
Net cash from financing activities 11,353,136 20,055,249
Net (decrease) / increase in cash and cash equivalents (5,688,978) 8,513,111
Cash and cash equivalents at 1 January 26 11,776,577 3,019,344
Exchange fluctuation on consolidation of foreign entities 174,291 244,122
Cash and cash equivalents at 31 December 26 6,261,890 11,776,577

The notes form an integral part of these consolidated financial statements.
1 See note 2(e)(iii) for restatement on account of change in accounting policies.
The independent auditors’ report is set out here.