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The following is an excerpt from a 6-K SEC Filing, filed by CHEMICAL & MINING CO OF CHILE INC on 11/30/2004. |
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CHEMICAL & MINING CO OF CHILE INC - 6-K - 20041130 - CASH_FLOW
SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.
Consolidated Statements of Cash Flows
(A
translation of the original in Spanish- see note 2 (a))
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For the years ended September 30,
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2004
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2003
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ThUS$
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ThUS$
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Cash flows from operating activities
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Net income for the year
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55,602
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36,107
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Charges (credits) to income not representing
cash flows
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Depreciation expense
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8
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45,455
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45,124
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Amortization of intangible assets
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143
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220
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Write-offs and accruals
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31,342
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12,711
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Gain on equity investments in related companies
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(4,439
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)
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(4,794
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Loss on equity investments in related companies
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12
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—
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Amortization of goodwill
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10
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841
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844
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Amortization of negative goodwill
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10
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(153
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(420
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)
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(Profit) loss on sales of assets
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228
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(57
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)
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Income from sales of Investments (less)
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(8,820
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)
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—
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Other credits to income not representing cash flows
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(1,967
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(2,299
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)
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Other charges to income not representing cash flows
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40,518
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21,492
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Foreign exchange difference, net
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2,460
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(2,845
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)
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Net changes in operating assets and liabilities
(Increase) decrease:
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Trade accounts receivable
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(23,293
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(26,510
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Inventories
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(23,839
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10,583
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Other assets
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(7,582
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16,264
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Accounts payable
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(7,635
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(18,254
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Interest payable
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(4,044
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)
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(1,961
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)
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Net income taxes payable
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(113
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(734
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Other accounts payable
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129
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(1,501
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VAT and taxes payable
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(506
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1,942
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Minority interest
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16
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4,095
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2,453
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Net
cash provided from operating activities
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98,434
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88,365
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Cash flows from financing activities
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Proceeds from short term bank financing
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83,045
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—
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Payment of dividends
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(25,484
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(21,302
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Repayment of bank financing
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(146,179
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(3.886
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Payment relation chip enter praise
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—
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(5.275
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Net
cash used in financing activities
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(88,618
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(30,463
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)
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Cash flows from investing activities
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Sales of property, plant and equipment
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474
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129
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Sale of permanent investments
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69,337
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—
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Sales of investments
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213
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532
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Other investing income
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22
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656
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7,320
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Additions to property, plant and equipment
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(31,356
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)
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(42,307
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)
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Capitalized interest
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(1,180
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)
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(1,827
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)
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Purchase of permanent investments
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(1,401
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(8,049
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)
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Other disbursements
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(12
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(31
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Net
cash used in investing activities
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36,731
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(44,233
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)
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Effect of inflation on cash and cash equivalents
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(478
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(352
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)
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Net change in cash and cash equivalents
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46,069
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13,317
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Beginning balance of cash and cash equivalents
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69,273
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65,204
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Ending balance of cash and cash equivalents
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115,342
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78,521
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