116
MEDIASET ESPAÑA COMUNICACIÓN, S.A. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWAT 31 DECEMBER
2012 AND 2011
The accompanying Notes 1 to 26 are an integral part of this consolidated financial statement at December 31, 2012.
(Continue)
12/31/12
12/31/11
CASH FLOWS FROM OPERATING ACTIVITIES
Net profit before tax
52,332
151,131
Adjustment for:
Amortization of audiovisual property rights (Note 8)
210,469
227,680
Depreciation and amortization charge (Note 6 and 7)
15,929
14,861
Result of companies accounted for using the equity method
(8,452)
22,955
Change in provisions for contingencies and charges
(4,989)
(2,672)
Net finance income (Note 23.6)
3,907
(3,431)
Net exchange differences (Note 23.7)
61
(1,556)
Proceeds from disposal of non-current assets
(64)
(15,661)
Disposals of other assets
7,308
2,421
Impairment of other financial assets
1,019
11,091
Profits from operations before changes in working capital
277,520
406,819
Change in operating assets and liabilities net of the impact of acquisition of new
investments
Inventories
1,743
3,990
Accounts receivable
28,960
53,433
Other current assets
50,631
(63,240)
Accounts payable
(87,597)
(46,301)
Other current liabilities
(2,121)
(30,545)
Change in provisions
(7,242)
239
Cash flows from operating activities
261,894
324,395
Taxes paid at sources
(12,552)
(33,483)
Net cash flows from operating activities (A)
249,342
290,912
1...,106,107,108,109,110,111,112,113,114,115 117,118,119,120,121,122,123,124,125,126,...201