(Amounts in thousands of Mexican pesos)
| For the year ended 31 December |
||||
|---|---|---|---|---|
| 2016 | 2016 | |||
| Operating activities | ||||
| (Loss) before income tax | Ps. | (539,445) | Ps. | (1,054,696) |
| Items not affecting cash flows: | ||||
| Depreciation and amortization | 2,042,366 | 2,557,196 | ||
| Interest income | (22,238) | (38,250) | ||
| Interest expense | 1,525,335 | 1,349,273 | ||
| Foreign exchange loss, net | 479,301 | 235,494 | ||
| Net periodic benefit cost | 708 | 617 | ||
| 3,486,027 | 3,049,634 | |||
| Changes in operating assets and liabilities: | ||||
| Accounts receivable | (39,812) | (3,161) | ||
| Related parties | (71,857) | (109,681) | ||
| Other current and non-current assets | 54,270 | 11,900 | ||
| Accounts payable and accrued liabilities | 23,871 | 178,948 | ||
| Taxes and contributions payable | (339,596) | (1,186,101) | ||
| Net cash flows from operating activities | 3,112,903 | 1,941,539 | ||
| Investing activities | ||||
| Interest received | 22,238 | 38,250 | ||
| Licenses and software | (9,796) | (8,755) | ||
| Property and equipment | (1,410,845) | (2,801,931) | ||
| Net cash flows used in investing activities | (1,398,403) | (2,772,436) | ||
| Financing activities | ||||
| Payment of short-term debt | (1,555,000) | (1,000,000) | ||
| Short-term debt | 1,672,772 | 344,963 | ||
| Issuance of short-term debt | - | 2,500,000 | ||
| Structured note premium | - | 3,156 | ||
| Interest paid on short-term debt | (15,930) | (9,575) | ||
| Interest paid on long-term debt | (1,486,398) | (1,246,393) | ||
| Net cash flows from financing activities | (1,384,556) | 592,151 | ||
| Net increase/(decrease) in cash and cash equivalents | 329,944 | (238,746) | ||
| Cash and cash equivalents at beginning of period | 231,533 | 470,279 | ||
| Cash and cash equivalents at end of period | Ps. | 561,477 | Ps. | 231,533 |
The accompanying notes are an integral part of these financial statements.
