The following table shows a reconciliation of changes in working capital in the consolidated statement of cash flows and changes in the consolidated statement of financial position:
|
Year ended
|
||
|---|---|---|
|
31 December 2020
|
31 December 2019
|
|
| Changes in CO2 emission allowances in balance sheet | (1 153 931) | (788 892) |
|
– Purchase Price Allocation
|
− | (5 536) |
| Changes in CO2 emission allowances in cash flow statement | (1 153 931) | (794 428) |
| Change in inventory on the balance sheet | 246 320 | (111 425) |
| – adjustment of depreciation by change in product levels and considerations for own purposes | − | 2 501 |
|
– depreciation of re-usable materials
|
(4 454) | (1 068) |
| Change in inventory in the cash flow statement | 241 866 | (109 992) |
| Change in trade and other receivables and assets arising from contracts with customers on balance sheet | (51 431) | (244 676) |
|
– VAT and income tax offset
|
1 429 | (12 956) |
|
– transaction costs
|
2 055 | 908 |
|
– CIT receivables
|
(140) | (366) |
|
– bond programs
|
(917) | 1 044 |
|
– finance leases
|
(219) | (1 472) |
| – Other | (1 652) | 423 |
| Change in trade and other receivables and assets arising from contracts with customers in cash flow statement | (50 875) | (257 095) |
| Change in trade and other payables and liabilities arising from contracts with customers on balance sheet | 279 265 | (521 880) |
|
– investment commitments
|
44 562 | 123 258 |
|
– interest charged and not paid
|
− | 121 |
|
– adjustment of investment commitments by charged VAT
|
18 720 | (14 075) |
|
– offset of liabilities with excess CIT paid
|
9 057 | 11 857 |
|
– loan
|
80 000 | (80 123) |
| – Other | (475) | (1 099) |
| Change in trade and other payables and liabilities arising from contracts with customers in cash flow statement | 431 129 | (481 941) |
|
Change in employee benefit liabilities on balance sheet
|
145 284 | 215 113 |
|
– actuarial gains/losses recognised in other comprehensive income
|
(77 658) | (85 281) |
| – Other | 68 | 128 |
|
Change in employee benefit liabilities in cash flow statement
|
67 694 | 129 960 |
| Change in accounting for subsidies and road lighting modernisation services on balance sheet | 34 253 | 30 151 |
|
– tangible assets received free-of-charge
|
(995) | − |
| – Other | 1 | − |
| Change in accounting for subsidies and road lighting modernisation services in cash flow statement | 33 259 | 30 151 |
| Change in other provisions for liabilities and other charges in balance sheet | 956 158 | 526 744 |
|
– elimination of change in provision for Mine Closure Fund
|
(31 123) | (44 046) |
|
– Elektrownia Ostrołęka
|
(222 200) | − |
| – Other | 75 | (25) |
| Change in other provisions for liabilities and other charges in cash flow statement | 702 910 | 482 673 |
The item ‘Purchase of financial assets’ in investing activities includes loans granted by the Company to subsidiaries and jointly-controlled entities (Elektrownia Ostrołęka and PGE EJ1) and investment in shares in PGE EJ1’s increased share capital.
The following tables show a reconciliation of debt in the consolidated statement of financial position and in the consolidated statement of cash flows:
|
As at
|
||
|---|---|---|
|
31 December 2020
|
31 December 2019
|
|
| As at 1 January | 2 130 633 | 2 296 276 |
|
Credit and loans received
|
2 308 | − |
|
Repayment of credit and loans
|
(176 371) | (166 222) |
|
Measurement and transaction costs
|
(2 806) | 579 |
| As at 31 December | 1 953 764 | 2 130 633 |
|
As at
|
||
|---|---|---|
|
31 December 2020
|
31 December 2019
|
|
| As at 1 January | 7 775 391 | 6 033 277 |
|
Bond buy-back
|
(1 894 310) | (277 910) |
|
Bond issuance
|
− | 2 000 000 |
|
Measurement and transaction costs
|
(3 028) | 20 024 |
| As at 31 December | 5 878 053 | 7 775 391 |