Notes to the financial statements form an integral part of these statements PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED AND SUBSIDIARIES FOR THE YEAR ENDED DECEMBER 31, 2021 STATEMENTS OF CASH FLOWS 2021 2020 2021 2020 CASH FLOWS FROM OPERATING ACTIVITIES Profit (loss) for the year 45,550,080,249 651,879,840 37,128,696,879 (3,379,547,518) Adjustments for: Income tax (benefit) expense 7,228,351,078 (109,285,418) 5,411,579,383 (659,318,891) Depreciation and amortization 22,738,223,413 20,291,818,509 15,545,434,102 14,322,549,643 Investment income (642,073,978) (394,040,492) (13,474,258,536) (3,532,784,229) Net gain from sale of investment in joint ventures and associate (10,201,106,624) - (12,382,867,826) - Finance costs 5,945,134,552 3,511,095,162 5,324,814,178 3,276,306,464 Unrealised (gain) loss on derivatives 1,293,833,763 (762,191,080) 897,582,018 (266,620,570) (Gain) loss on foreign exchange rates 6,266,945,743 145,131,878 6,350,502,373 (102,674,163) (Gain) loss on remeasurement of investments in financial assets measured at fair value (10,587,062,553) 31,687,661 (11,018,196,714) 31,687,661 Expected credit loss of receivables 20,744,068 18,605,911 - 8,870,997 (Gain) loss on obsolete inventories 281,813,897 (10,485,624) 245,551,833 4,800,289 (Reversal of) loss on inventories devaluation 216,663,984 (275,457,874) 223,574,346 (236,874,043) Loss from written-off of assets 62,344,618 84,007,489 47,603,282 36,134,970 (Reversal of) impairment losses on assets 1,891,717,008 (312,702,016) 3,853,559,867 - Loss on disposal of property, plant and equipment and right-of-use assets 724,767,790 108,089,715 382,251,787 34,440,191 Provision expenses 443,570,129 - - - Provision for employee benefits 622,577,678 592,025,240 357,443,091 425,344,122 Other revenues (16,951,225) (11,388,015) (16,951,225) (10,910,452) Share of profit of investments in joint ventures (4,155,316,877) (863,193,963) - - Share of profit of investments in associates (2,685,268,657) (2,459,356,255) - - Profit from operations before changes in operating assets and liabilities 64,998,988,056 20,236,240,668 38,876,318,838 9,951,404,471 Operating assets (increase) decrease Trade receivables (12,879,449,351) 4,840,046,689 (9,763,632,322) 5,368,317,930 Other receivables (581,574,492) (317,538,768) (855,860,372) 32,091,018 Inventories (20,020,509,539) 5,003,944,314 (14,908,594,562) 4,011,782,026 Value-added tax receivable (839,824,166) 713,859,858 (176,237,768) 492,422,615 Other current assets (1,458,458,919) (292,450,496) (880,196,175) (129,871,876) Other non-current assets (37,922,909) (223,918,175) (19,611,037) 3,976,372 Operating liabilities increase (decrease) Trade payables 37,806,268,634 (5,513,946,257) 35,881,064,714 (5,108,399,197) Other payables 5,839,346,864 (1,546,144,943) 4,184,306,026 (2,176,382,563) Current provisions 19,692,001 (65,887,076) - - Other current liabilities 24,281,964 (16,183,807) - - Cash paid for provisions for employee benefits (198,429,727) (240,429,549) (131,874,033) (141,782,676) Other non-current provisions 213,016 23,040,419 - - Other non-current liabilities 180,293,980 (13,346,055) 106,967,585 (8,900,807) Cash received from operations 72,852,915,412 22,587,286,822 52,312,650,894 12,294,657,313 Cash (paid) received for income tax (4,203,034,368) (441,525,689) (2,869,834,163) 203,609,645 Net cash flows provided by operating activities 68,649,881,044 22,145,761,133 49,442,816,731 12,498,266,958 Consolidated Separate financial statements PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED AND SUBSIDIARIES STATEMENTS OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2021 financial statements Unit : Baht 230 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2021
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