Cash flows from operating activities | | | | | | |
Net earnings from operations | | | | 135,471 | | 452,402 |
Adjustments to reconcile net earnings to net cash from operating activities | | | | | | |
Depreciation, amortization and impairments | | 3,5,7 | | 51,690 | | 52,097 |
Share-based compensation | | 12 | | 8,387 | | 7,801 |
Non-cash financing costs | | | | (2,483) | | 29,609 |
Share in income of investments in associates | | 6 | | (40,488) | | (89,614) |
Gain on sale of ASMPT shares | | 6 | | – | | (284,898) |
Income tax | | | | 2,289 | | 4,635 |
Changes in assets and liabilities | | | | | | |
Accounts receivable | | | | (43,352) | | (37,930) |
Inventories | | | | (9,510) | | (45,161) |
Other current assets | | | | (10,212) | | 2,540 |
Accounts payable and accrued expenses | | | | 7,045 | | 28,449 |
Income tax paid | | | | (7,425) | | (3,870) |
Net cash from operating activities | | | | 91,412 | | 116,060 |
| | | | | | |
Cash flows from investing activities | | | | | | |
Capital expenditures | | 3 | | (26,890) | | (44,171) |
Proceeds from sale of property, plant and equipment | | 3 | | 1,147 | | 823 |
Capitalized development expenditure | | 5 | | (27,327) | | (38,615) |
Purchase of intangible assets | | 5 | | (7,024) | | (2,393) |
Dividend received from associates | | 6 | | 22,083 | | 36,458 |
Proceeds from sale of ASMPT shares | | 6 | | – | | 690,660 |
Net cash from in investing activities | | | | (38,011) | | 642,762 |
| | | | | | |
Cash flows from financing activities | | | | | | |
Debt issuance fees paid | | | | (810) | | (132) |
Purchase of treasury shares ASMI | | 11 | | (97,024) | | (239,555) |
Proceeds from issuance of treasury shares | | 12 | | 14,709 | | 13,292 |
Dividends to common shareholders of ASMI | | | | (42,673) | | (41,470) |
Net cash used in financing activities | | | | (125,798) | | (267,865) |
| | | | | | |
Foreign currency translation effect on cash and cash equivalents | | | | 3,639 | | (32,653) |
| | | | | | |
Net increase / (decrease) in cash and cash equivalents | | | | (68,758) | | 458,304 |
Cash and cash equivalents at beginning of year | | 10 | | 446,915 | | 378,157 |
Cash and cash equivalents at end of year | | 10 | | 378,157 | | 836,461 |