Annual report pursuant to Section 13 and 15(d)

AMAK FINANCIAL STATEMENTS - Statements of Cash Flows (Details)

v3.19.1
AMAK FINANCIAL STATEMENTS - Statements of Cash Flows (Details)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2018
USD ($)
Sep. 30, 2018
USD ($)
Jun. 30, 2018
USD ($)
Mar. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Sep. 30, 2017
USD ($)
Jun. 30, 2017
USD ($)
Mar. 31, 2017
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2018
SAR (ر.س)
Dec. 31, 2017
USD ($)
Dec. 31, 2017
SAR (ر.س)
Dec. 31, 2016
USD ($)
Dec. 31, 2016
SAR (ر.س)
Cash flows from operating activities:                            
Net income (loss) | $ $ (5,290) $ (1,609) $ 2,215 $ 2,352 $ 13,972 $ 1,718 $ 832 $ 1,487 $ (2,332)   $ 18,009   $ 19,428  
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:                            
Amortization of deferred finance costs | $                 261   247   272  
Changes in operating assets and liabilities:                            
Accounts receivable | $                 (1,485)   (3,586)   (2,809)  
Inventories | $                 1,911   (579)   (2,067)  
Accounts payable and accrued liabilities | $                 2,240   6,983   3,168  
Net cash provided by operating activities | $                 19,895   30,828   28,514  
Cash flows from investing activities:                            
Additions to property and equipment | $                 (25,285)   (51,584)   (38,484)  
Cash flows from financing activities:                            
Issuance of share capital and premium | $                 0   25   11  
Payments on long-term debt | $                 (15,354)   (10,417)   (6,250)  
Net cash provided by in financing activities | $                 3,683   15,502   1,761  
Net increase (decrease) in cash and cash equivalents | $                 3,707   (5,361)   (10,234)  
Cash and cash equivalents at beginning of year | $       $ 3,028       $ 8,389 3,028   8,389   18,623  
Cash and cash equivalents at end of year | $ $ 6,735       $ 3,028       6,735   3,028   8,389  
Supplemental cash flow information                            
Cash paid for interest | $                 4,560   3,540   2,545  
Cash paid for Zakat and income tax | $                 $ (4,182)   $ 92   $ (1,630)  
AMAK                            
Cash flows from operating activities:                            
Net income (loss)                   ر.س (25,233,338)   ر.س (62,895,574)   ر.س (35,532,341)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:                            
Depreciation and amortization                   125,507,864   83,547,586   43,768,238
Accretion of deferred mine closure costs                   543,198   524,829   507,081
Amortization of deferred finance costs                   2,175,902   1,610,733   2,147,644
Gain on forgiveness of liabilities                   0   0   (65,345,250)
Deferred income taxes                   (7,224,929)   417,966   1,718,258
Changes in operating assets and liabilities:                            
Accounts receivable                   (8,021,219)   (8,213,816)   28,351,618
Inventories                   (18,644,188)   (11,351,752)   15,754,952
Advances to contractors and other                   563,016   (3,944,995)   (6,186,357)
Accounts payable and accrued liabilities                   6,084,327   9,638,009   3,511,632
Zakat and income tax liability                   1,883,327   1,583,048   679,206
Pre-export advance payment                   0   0   (9,150,880)
End-of-service indemnities                   1,131,360   1,037,893   (264,797)
Net cash provided by operating activities                   78,765,320   11,953,927   (20,040,996)
Cash flows from investing activities:                            
Additions to property and equipment                   (28,945,309)   (31,550,443)   (29,246,001)
Cash flows from financing activities:                            
Issuance of share capital and premium                   2,453,580   0   75,092,840
Payments on capital lease obligations                   (72,788)   0   0
Payments on long-term debt                   0   (5,000,000)   0
Net advances from (to) shareholders                   (53,015,844)   403,147   299,231
Net cash provided by in financing activities                   (50,635,052)   (4,596,853)   75,392,071
Net increase (decrease) in cash and cash equivalents                   (815,041)   (24,193,369)   26,105,074
Cash and cash equivalents at beginning of year                   32,325,537   56,518,906   30,413,832
Cash and cash equivalents at end of year                   31,510,496   32,325,537   56,518,906
Supplemental cash flow information                            
Cash paid for interest                   3,927,778   3,686,000   3,895,766
Cash paid for Zakat and income tax                   3,212,813   1,626,179   1,198,780
Supplemental disclosure of non-cash items                            
Assets acquired through capital lease obligations                   ر.س 625,805   ر.س 0   ر.س 0