Norwegian annual report 2013

Norwegian Air Shuttle ASA Accounts

Cash Flow Statement
NOTE (NOK 1,000) 2013 2012
  CASH FLOWS FROM OPERATING ACTIVITIES:    
  Profit before income tax  837 130  598 258
  Taxes paid 0 0
8,9 Depreciation, amortization, write-down  533 484  388 425
  Pension expense without cash effect  77 583
26 (Profit)/loss on investment in associated company  -46 597  -32 840
17 Compensation expense for employee options 0 0
9 Losses/(gains) on disposal of tangible assets  -35 359  -16 401
25 Impairment of shares in subsidiary 0  17 930
20 Fair value (gains)/losses on financial assets  -442 362  324 137
6 Net financial items excluding impairment  569 314  -179 964
  Interests received  90 884  51 340
  Change in inventories, accounts receivable and accounts payable  659 615  -157 029
  Change in air traffic settlement liabilities  288 866  531 439
  Change in other current assets and current liabilities  -257 205  416 169
  Net cash flow from operating activities  2 197 772  2 019 046
       
  CASH FLOWS FROM INVESTING ACTIVITIES:    
9 Prepayments aircraft purchase  -1 460 328  -2 134 161
9 Purchases of tangible assets  -286 012  -574 287
8 Purchases of intangible assets  -42 418  -55 901
25 Payment to subsidiaries  -260 000  -20 000
  Payment to investment in associated company  -80 000  -1 119
25 Dividend from subsidiary 0  9 728
  Net cash flow from investing activities  -2 128 758  -2 775 740
       
  CASH FLOWS FROM FINANCIAL ACTIVITIES:    
24 New long term liabilities  2 309 721  1 991 173
24 Payment long term liabilities  -1 829 731  -460 692
  Interest on borrowings  -295 816  -179 161
15 Paid-in equity 0  18 114
  Net cash flow from financial activities  184 174  136 943
       
  Net change in cash and cash equivalents  253 188  612 739
  Cash and cash equivalents at 1 January  1 694 480  1 081 742
22 Cash and cash equivalents at 31 December  1 946 668  1 694 480