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CIMIC Group Limited Annual Report 2016 |
Financial Report
Notes continued
for the 12 months to 31 December 2016
28. RECONCILIATION OF PROFIT / (LOSS) FOR THE YEAR TO NET CASH FROM OPERATING ACTIVITIES
12 months to
December 2016
$m
12 months to
December 2015
$m
Profit / (loss) for the year
552.4
514.4
Adjustments for:
-
Depreciation of property, plant and equipment
304.9
496.6
-
Amortisation of intangibles
32.5
47.2
-
Net (gain) / loss on disposal of equity accounted investments
(70.1)
-
-
Net (gain) / loss on sale of controlled entities
-
(25.4)
-
Net (gain) / loss on acquisition of controlled entities
(46.6)
-
-
Net (gain) / loss on sale of assets
1.4
14.6
-
Impairment of intangibles
10.0
2.7
-
Property development and property joint venture write-downs
-
8.2
-
Foreign exchange losses
1.3
1.4
-
Net amounts set aside to provisions
202.7
168.4
-
Share of (profits)/ losses of associates
5.3
40.9
-
Share based payments
1.0
0.1
-
Net (gain) / loss on fair value of option to acquire shares
(75.0)
-
Net changes in assets / liabilities:
-
Decrease / (increase) in receivables
(161.3)
1,089.9
-
Decrease / (increase) in joint ventures
305.8
(41.7)
-
Decrease / (increase) in inventories
203.3
173.4
-
Increase / (decrease) in payables
(42.7)
(634.5)
-
Increase / (decrease) in provisions
(271.2)
(276.6)
-
Current and deferred income tax movement
173.3
(129.4)
Net cash from operating activities
1,127.0
1,450.2
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