Statement of cash flows*

2015 2014
Cash flow from operating activities
Profit/(Loss) before income tax ($497) $862
  Depreciation/amortisation recognised in profit or loss $224 $210
  Interest and commissions on borrowings $22 $7
  Impairment loss recognised/reversal of impairment loss on non-current assets 1,352 $8
Other adjustments to profit before income tax ($110) $100
Exclusions of incomes and costs, total $1,488 $325
Income tax paid ($226) $219
Changes in working capital $77 $57
Net cash generated from operating activities $841 $1,026
Cash flow from investing activities
Proceeds $13 $17
  Expenditures on mining and metallurgical assets ($626) $559
  Expenditures on other property, plant and equipment and intangible assets ($10) $6
  Loans granted ($1,088) $409
  Other expenses ($50) $24
Total expenses ($1,775) $998
Net cash used in investing activities ($1,762) $982
Cash flow from financing activities
Proceeds from borrowings $1,271 $506
  Repayments of borrowings ($96) ($291)
  Dividends paid ($205) ($256)
  Interest paid ($19) ($5)
  Other expenses ($6) ($10)
  Total expenses ($326) ($563)
Net cash generated from/(used in) financing activities $944 ($57)
TOTAL NET CASH FLOW $23 ($13)
Cash and cash equivalents at beginning of the period $22 $32
Exchange gains/(losses) on cash and cash equivalents ($4) $3
Cash and cash equivalents at end of the period $41 $22
* The USD amounts above are calculated using the Polish National Bank exchange rate at 31 December 2015: 1 USD/3.90 PLN. They were not audited by Independent Registered Auditor