Cash flows

CONSOLIDATED STATEMENTS OF CASH FLOWS*



Note Year ended
31.12.2010
Year ended
31.12.2009
A  
Cash flows from operating
activities:


90,042 71,108

Cash generated from
operations
29 110,104 91,309

Income tax paid
(20,062) (20,201)
B   
Cash flows from investing
activities:


130,190 183,882

Purchases of property and
equipment
5 (8,331) (13,239)
 Proceeds from sale of property
and equipment

131 104

Purchases of intangible assets
6 (28,351) (4,629)

Acquisition of subsidiary less
acquired cash

- (19,710)

Proceeds from sales of
available-for-sale financial
assets
9 159,631 120,000

Purchases of bonds held
to maturity
9 - (887)

Redemption of bonds held
to maturity
9 - 76,500
 Interest received 21 6,483 25,438

Dividends received
21 486 305

Other
141 -
C   
Cash flow from financing
activities:

(596,800) -

Dividends paid

(596,800) -
D   
Net increase / (decrease) in
cash and cash equivalents

(376,567) 254,990

Cash and cash equivalents at
the beginning of the period


484,167 229,177

Cash and cash equivalents at
the end of the period

13 107,600 484,167


*All amounts in pln thousand, unless otherwise stated.

The notes presented on pages 5 to 73 form an integral part of these consolidated financial statements.