Page 14 - MEDIASET ESPAÑA / 2012. Financial Statements, Management and Corporate Governance Report

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MEDIASET ESPAÑA COMUNICACIÓN, S.A.
CASH FLOW STATEMENT FORTHEYEAR ENDED DECEMBER 31,
2012 AND 2011
(Continue)
Thousands of euros
Notes 2012 2011
CASH FLOW FROM OPERATING ACTIVITIES
Profit before tax 52,545 148,282
Adjustments to profit 127,373 196,939
Depreciation and amortization 5,6 207,489 230,818
Impairment losses 6,7 (10,067) 22,388
Changes in provisions (4,996) 9,314
Gains/(losses) from derecognition and disposal of financial instruments 8 5,000 -
Finance income (74,044) (70,420)
Finance costs 3,991 4,839
Change in working capital 11,944 (19,679)
Inventories 9 1,771 3,983
Trade and other receivables 38,495 131,563
Other current assets 54,653 (55,537)
Trade and other payables (82,867) (99,712)
Other current liabilities (108) 24
Other cash flows from operating activities 57,500 52,639
Interest paid (3,991) (4,839)
Dividends received 19 68,272 63,541
Interest received 5,772 6,879
Income tax receipts (payments) (12,553) (12,942)
CASH FLOWS FROM OPERATING ACTIVITIES 249,362 378,181
CASH FLOWS FROM INVESTING ACTIVITIES
Payments on investments (234,760) (361,950)
Group companies and associates (16,842) (164,474)
Intangible assets (208,808) (157,790)
Property, plant and equipment (6,557) (12,678)
Other financial assets (2,553) (27,008)
Read with the accompanying explanatory notes.
Madrid, February 27, 2013.