Norwegian annual report 2013

Consolidated Accounts

Consolidated Cash Flow Statement
NOTE (NOK 1,000) 2013 2012
  CASH FLOWS FROM OPERATING ACTIVITIES:    
  Profit (loss) before tax 437 381 623 181
9 Taxes paid 0 -2 545
10,11 Depreciation, amortisation and write-down 529 825 385 244
  Pension expense without cash effect 0 81 186
26 Profit from associated company -46 597 -32 840
17 Compensation expense for employee options 9 379 0
10 Losses/(gains) on disposal of tangible assets -35 359 -16 401
20 Fair value (gains)/losses on financial assets -226 587 324 137
8 Financial items 578 874 -186 888
8 Interest received 90 884 51 340
  Change in inventories, accounts receivable and accounts payable 107 483 -128 561
  Change in air traffic settlement liabilities 826 754 531 439
  Change in other current assets and current liabilities 106 818 392 392
  Net cash flow from operating activities 2 378 855 2 021 682
       
  CASH FLOWS FROM INVESTING ACTIVITIES:    
11 Prepayments aircraft purchase -1 460 328 -2 134 161
11 Purchase of tangible assets -543 159 -574 287
10 Purchase of intangible assets -42 418 -55 901
20 Proceeds from sales of investment bonds -81 928 0
26 Payment to associated company 0 -1 119
  Net cash flow from investing activities -2 127 833 -2 765 468
       
  CASH FLOWS FROM FINANCIAL ACTIVITIES:    
22 Proceeds from long term debt  2 309 721 1 991 173
22 Payment of long term debt -1 829 731 -460 692
15 Proceeds from issuing new shares 0 18 114
  Interest on borrowings -295 816 -179 161
  Net cash flow from financial activities 184 174 1 369 433
       
  Foreign exchange effect on cash 35 302
       
  Net change in cash and cash equivalents 435 231 625 949
  Cash and cash equivalents at 1 January 1 730 895 1 104 946
24 Cash and cash equivalents at 31 December 2 166 126 1 730 895
       
The notes are an integral part of these consolidated financial statements.