[ CONTENTS ]
ANGLOGOLD LIMITED
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 1998, 1997 AND 1996
(In millions, except share information)
| Notes | 1998 | 1997 | 1996 | |
| R | R | R | ||
| Net cash provided by operating activities | 1 648 | 611 | 678 | |
| Net income | 1 022 | 243 | 658 | |
| Reconciled to net cash provided by operations: | ||||
| Profit on sale of shaft | (38) | ? | ? | |
| Depreciation, depletion and amortization | 9&10 | 922 | 207 | 229 |
| Net increase in provision for environmental | ||||
| rehabilitation and post retirement medical | ||||
| benefits | 17 | 18 | (2) | |
| Income and mining taxes | 6 | 146 | (30) | (59) |
| Income and mining taxes paid | (132) | (53) | (32) | |
| Undistributed earnings of affiliates | (83) | (22) | (23) | |
| Effect of changes in operating working capital items: | ||||
| Receivables | 60 | (202) | (83) | |
| Inventories | 171 | 210 | 3 | |
| Accounts payable and accrued liabilities | (437) | 240 | (13) | |
| Net cash provided by/(used in) investing activities | 591 | (532) | (447) | |
| Cash acquired in acquisitions | 2 | 1 009 | 4 | ? |
| Increase in non-current investments | (33) | (135) | (3) | |
| Additions to property, plant and equipment | (502) | (401) | (444) | |
| Proceeds on sale of mining assets | 179 | ? | ? | |
| Cash paid as part of acquisition | (62) | ? | ? | |
| Net cash used in financing activities | (994) | (121) | (155) | |
| (Decrease)/increase in short term debt | (104) | 104 | ? | |
| Proceeds on sale of Treasury shares | 41 | ? | ? | |
| Issuance of stock | 3 | ? | 94 | |
| Share issue expenses | (100) | (1) | ? | |
| (Increase)/decrease in long term debt | (267) | 138 | 75 | |
| Dividends paid | (949) | (365) | (324) | |
| Loans receivable repaid | 382 | 3 | ? | |
| Net increase/(decrease) in cash and cash | ||||
| equivalents | 1 245 | (42) | 76 | |
| Cash and cash equivalents ? January 1, | 73 | 115 | 39 | |
| Cash and cash equivalents ? December 31, | 1 318 | 73 | 115 | |
[ CONTENTS ]