profit for the year
3121
604
adjustments to profit for the period
depreciation and amortization
509
484
impairment and provision for site restoration
-265
-66
loss on disposal of property plant and equipment
28
66
change in expected credit loss
-
2
change in allowance for advances issued
2
-
change in provision for legal claims
2
17
change in allowance for obsolete and slow-moving
foreign exchange -gain/loss net
-31
129
-gain/loss on disposal of subsidiaries
-3
3
operating cashflow before working capital changes
4235
1 442
movements in working capital
increase in trade and other receivables
-597
-113
increase in value added tax recoverable
-14
-1
increase in inventories
-468
-52
increase in trade and other payables
322
132
cash generated from operations
3478
1 408
income tax paid
-738
-156
net cash from operating activities
2715
1 226
purchase of property plant and equipment
-1119
-683
purchase of intangible assets
-13
-11
proceeds from sale of property plant and equipment
2
2
proceeds from sale of subsidiaries net of disposed cash
-
1
proceeds from sale of securities and other financial assets
3
3
purchase of securities and other financial assets
-4
-3
placement of short-term bank deposits
-1040
-620
withdrawal of short-term bank deposits
720
420
net cash used in investing activities
-1423
-868
the notes on pages 6 to 51 are an integral part of these consolidated financial statements
public joint stock company
magnitogorsk iron & steel works and subsidiaries
consolidated statement of cash flows
for the year ended 31 december 2021 -continued
-in millions of us dollars
proceeds from borrowings
505
705
repayments of borrowings
-475
-636
repayment of the principal amount of the lease obligation
-5
-4
dividends paid to equity holders of the parent company
-1321
-623
net cash used in financing activities
-1296
-558
net decrease in cash and cash equivalents
-4
-200
cash and cash equivalents beginning of period
858
1 105
effect of translation to presentation currency and exchange
rate changes on the balance of cash held in foreign currencies
-11
-47
cash and cash equivalents end of period
843
858
