|
|
|
Consolidated Statements of Cash Flows
|
9 months ended September 30, 2007
|
9 months ended September 30, 2006
|
|
Cash Flows From Operating Activities
|
0
|
0
|
|
Net income
|
135,434
|
111,622
|
|
|
|
|
|
Charges (Credits) To Income Not Representing Cash Flows
|
|
|
|
Depreciation expense
|
71,800
|
66,136
|
|
Amortization of intangible assets
|
531
|
739
|
|
Write-offs and accruals
|
20,625
|
11,475
|
|
Gain on equity investments in related companies
|
-3,558
|
-1,450
|
|
Loss on equity investments in related compañies
|
58
|
189
|
|
Amortization of goodwill
|
1,698
|
1,858
|
|
Amortization of negative goodwill
|
0
|
-68
|
|
(Gain) loss on sales of assets
|
-24
|
-634
|
|
Loss on sales of investments
|
0
|
197
|
|
Other credits to income not representing cash flows
|
-590
|
-8,586
|
|
Other charges to income not representing cash flows
|
92,835
|
63,502
|
|
Foreign currency translation, net
|
2,312
|
5,403
|
|
|
|
|
|
Net Changes In Operating Assets And Liabilities
|
|
|
|
Increase in trade accounts receivable
|
-53,752
|
-11,595
|
|
Increase in inventories
|
-25,273
|
-58,848
|
|
(Increase) Decrease in other assets
|
-14,120
|
3,287
|
|
(Decrease) Increase in accounts payable
|
9,806
|
-12,342
|
|
Increase ( Decrease) in interest payable
|
5,343
|
2,295
|
|
Increase (decrease) in net income taxes payable
|
-18,320
|
-43,559
|
|
(Decrease) Increase in other accounts payable
|
-5,589
|
-7,533
|
|
Increase (decrease) in VAT and taxes payable
|
-6,221
|
7,576
|
|
Minority interest
|
2,330
|
2,519
|
|
|
|
|
|
NET CASH PROVIDED BY OPERATING ACTIVITIES
|
215,325
|
132,183
|
|
|
|
|
|
Cash Flows From Financing Activities
|
|
|
|
Proceeds from short-term bank financing
|
0
|
176,281
|
|
Loans to related companies
|
0
|
0
|
|
Bonds payable
|
0
|
299,833
|
|
Payment of dividends
|
-94,999
|
-74,477
|
|
Repayment of bank financing
|
-57,090
|
-371,281
|
|
Payment of obligations with the public (Bonds payable)
|
-2,566
|
0
|
|
Payment of expenses for the issuance and placement of bonds payable
|
0
|
-6,629
|
|
|
|
|
|
NET CASH USED IN FINANCING ACTIVITIES
|
-154,655
|
23,727
|
|
|
|
|
|
Cash Flows From Investing Activities
|
|
|
|
Sales of property, plant and equipment
|
2,611
|
8,706
|
|
Sales of investments in related companies
|
0
|
902
|
|
Other investing income
|
361
|
24,481
|
|
Additions to property, plant and equipment
|
-123,015
|
-136,813
|
|
Capitalized interest
|
-9,400
|
0
|
|
Purchase of investments in related companies
|
0
|
-115,124
|
|
Other disbursements
|
-785
|
0
|
|
|
|
|
|
NET CASH USED IN INVESTING ACTIVITIES
|
-130,228
|
-217,848
|
|
|
|
|
|
Effect of inflation on cash and cash equivalents
|
1,125
|
2,034
|
|
Net change in cash and cash equivalents
|
-68,433
|
-59,904
|
|
Beginning balance of cash and cash equivalents
|
183,943
|
147,956
|
|
|
|
|
|
ENDING BALANCE OF CASH AND CASH EQUIVALENTS
|
115,510
|
88,052
|
|
|