25 Notes to the Consolidated Cash Flow Statement

 

(a) Reconciliation of profits before taxation to cash generated from operations
US$'00020182017
Profit before taxation73,5463,256
Adjusted for  
Assets and liabilities adjustments  
Depreciation and amortisation116,335109,287
Utilisation of provision for onerous contracts(16,115)(20,273)
Write-back of provision for onerous contracts(12,731)-
Net unrealised losses/(gains) on derivative instruments not qualified as hedges11,669(5,434)
Charter Hire Reduction4,7436,158
Provision/(write-back) for impairment losses  
- vessels705-
- other receivables(7)112
- trade receivables-2,022
- assets held for sale-830
Write-off of loan arrangement fees1,623-
Distribution from Muchalat investment(1,582)-
Losses on disposal of PP&E37539
Towage exchange loss-1,306
Disposal gains on available-for-sale financial assets-(158)
Capital and funding adjustments  
Share-based compensation5,2654,301
Results adjustments  
Finance costs, net32,35332,347
Net foreign exchange (gains)/losses(43)135
Profit before taxation before working capital changes215,798134,428
Increase in inventories(13,715)(9,282)
Increase in trade and other receivables(14,029)(12,123)
Increase in trade and other payables2,12012,578
Cash generated from operations190,174125,601
(b) Reconciliation of long-term borrowings  
US$'00020182017
At 1 January880,968839,242
Cash flows  
- Drawdown of bank loans and other borrowings634,074188,601
- Repayment of bank loans and other borrowings(558,410)(136,929)
- Convertible bond coupon payment(4,063)(4,063)
Foreign exchange adjustments(1,782)(9,779)
Other non-cash movements  
- Loan arrangement fee movement3,772(2,504)
- Accrued convertible bond coupon6,5346,400
At 31 December961,093880,968
(c) Significant non-cash transactions  
For details regarding non-cash transactions relating to the purchase of vessels by issuing new shares, please refer to Note 18(a).

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