44. Supplementary information to the consolidated statement of cash flows

Cash and cash equivalents

Cash and cash equivalents consist of cash on hand, cash on nostro accounts with the National Bank of Poland, current amounts due from banks, as well as other cash equivalents with maturities up to 3 months from the date of acquisition.

	31.12.2015	31.12.2014
Cash and balances with the central bank	13 743 864	11 738 371
Current amounts due from banks	3 520 838	2 516 484
Total	17 264 702	14 254 855

supplementary_information_to_the_consolidated_1_pkobp.xlsx

Cash flows from interests and dividends, both received and paid

Interest income - received	2015	2014
Interest income from loans and advances granted - received	6 183 601	6 593 718
Interest income from investment securities - received	696 003	577 828
Interest income from securities designated upon initial recognition at fair value through profit and loss - received	243 691	341 615
Interest income from placements - received	134 366	167 377
Interest income from securities from held for trading portfolio - received	55 917	60 282
Interest income from hedging instruments	476 850	276 638
Other interest (mainly interest income on current accounts, purchased debt, realised guarantees) - received	1 128 955	1 186 604
Total	8 919 383	9 204 062

supplementary_information_to_the_consolidated_2_pkobp.xlsx

Interest expense – paid	2015	2014
Interest expense on deposits – paid	(1 757 696)	(1 654 030)
Interest expense on debt securities in issue - paid	(520 524)	(444 150)
Interest expense on loans and advances - paid	(102 252)	(124 620)
Other interest (mainly interest expense on current accounts, premium from debt securities, interest expense on cash collateral liabilities) - paid	(587 877)	(599 011)
Total	(2 968 349)	(2 821 811)

supplementary_information_to_the_consolidated_3_pkobp.xlsx

Dividend income - received	2015	2014
Dividend income from joint ventures and associates - received*	25 571	21 387
Dividend income from other entities - received	10 658	6 366
Total	36 229	27 753

supplementary_information_to_the_consolidated_4_pkobp.xlsx

* Position applies to dividends received from subsidiaries under the equity method

Dividend expense – paid	2015	2014
Dividend paid to equity holders of the parent company	-	(937 500)
Total	-	(937 500)

supplementary_information_to_the_consolidated_5_pkobp.xlsx

Cash flow from operating activities – other adjustments

Other adjustments	2015	2014
Changes resulting from a business combination	6 096	-
Changes resulting from taking of control over subsidiaries	-	105 713
Valuation of debt securities in issue	139 600	88 843
Interest accrued, discount, premium on debt securities	(1 084 615)	(943 465)
Hedge accounting	(62 861)	130 797
Actuarial gains and losses	(4 491)	(1 537)
Valuation and impairment allowances for investments in associates, joint ventures and other changes	(69 385)	(12 794)
Currency translation differences from foreign operations	(23 855)	(63 490)
Disposal and impairment allowances for tangible fixed assets and intangible assets	(107 447)	(50 045)
Total	(1 206 958)	(745 978)

supplementary_information_to_the_consolidated_6_pkobp.xlsx

Explanation of differences between the statement of financial position and the cash flow statement changes of items presented under operating activities in the statement of cash flows

(Gains) losses on sale and disposal of tangible fixed assets and intangible assets under investing activities	2015	2014
Income from sale and disposal of tangible fixed assets and intangible assets	(103 686)	55 822
Gain on sale of non-current assets held for sale		(73 451)
Costs of sale and disposal of tangible fixed assets and intangible assets	90 162	-
Total	(13 524)	(17 629)

supplementary_information_to_the_consolidated_7_pkobp.xlsx

Interests and dividends	2015	2014
Interest received from investment securities, presented under investing activities	(727 359)	(632 863)
Dividends received, presented under investing activities	(36 228)	(27 899)
Interest paid from loans granted, presented under financing activities	653 116	590 690
Total	(110 471)	(70 072)

supplementary_information_to_the_consolidated_8_pkobp.xlsx

Change in amounts due from banks	2015	2014
Change in the balance of the statement of financial position	(2 066 286)	(593 245)
Changes resulting from a business combination	33 050	-
Exclusion of net assets of entities under control	-	420 406
Exclusion of cash acquired of entities under control	-	(217 107)
Change in impairment allowances on amounts due from banks	(294)	28 472
Exclusion of a change in the balance of cash and cash equivalents	1 004 354	877 865
Total	(1 029 176)	516 391

supplementary_information_to_the_consolidated_9_pkobp.xlsx

Change in trading assets and financial assets designated upon initial recognition at fair value through profit and loss	2015	2014
Change in the balance of the statement of financial position	1 710 275	(1 962 937)
Exclusion of net assets of entities under control	-	5 599 561
Total	1 710 275	3 636 624

supplementary_information_to_the_consolidated_10_pkobp.xlsx

Change in derivative financial instruments (asset)	2015	2014
Change in the balance of the statement of financial position	1 147 553	(2 493 962)
Exclusion of net assets of entities under control	-	28 384
Total	1 147 553	(2 465 578)

supplementary_information_to_the_consolidated_11_pkobp.xlsx

Change in loans and advances to customers	2015	2014
Change in the balance of the statement of financial position	(10 916 324)	(29 874 122)
Changes resulting from a business combination	571 420	-
Exclusion of net assets of entities under control	-	24 877 227
Change in impairment allowances on amounts due from customers	(264 732)	(1 371 697)
Total	(10 609 636)	(6 368 592)

supplementary_information_to_the_consolidated_12_pkobp.xlsx

Change in other assets, inventories and non-current assets held for sale	2015	2014
Change in the balance of the statement of financial position	(46 605)	(233 402)
Changes resulting from a business combination	45 833	-
Exclusion of net assets of entities under control	-	78 801
Classification to non-current assets held for sale	-	173 044
Change in impairment allowances on other receivables	(78 199)	3 855
Total	(78 971)	22 298

supplementary_information_to_the_consolidated_13_pkobp.xlsx

Change in amounts due to banks	2015	2014
Change in the balance of the statement of financial position	(1 105 893)	15 647 507
Exclusion of net assets of entities under control	-	(14 848 744)
Recognition of borrowings/repayment of long-term loans received from banks in financing activities	2 696 189	(10 947 679)
Total	1 590 296	(10 148 916)

supplementary_information_to_the_consolidated_14_pkobp.xlsx

Change in amounts due to customers	2015	2014
Change in the balance of the statement of financial position	21 371 695	22 482 585
Changes resulting from a business combination	(595 128)	-
Exclusion of net assets of entities under control	-	(13 490 345)
Recognition of long-term loans and advances received from financial institutions otherthan banks/repayment of these loans and advances in financing activities	(81 377)	84 898
Total	20 695 190	9 077 138

supplementary_information_to_the_consolidated_15_pkobp.xlsx

Change in debt securities in issue	2015	2014
Change in the balance of the statement of financial position	(3 867 637)	2 754 164
Recognition of long-term debt securities in issue received/repayment of these debt securities in issueto financing activities	4 519 553	(1 956 702)
Total	651 916	797 462

supplementary_information_to_the_consolidated_16_pkobp.xlsx

Change in provisions and impairment allowances	2015	2014
Change in the balance of the statement of financial position	(71 744)	2 968
Changes resulting from a business combination	(334 808)	-
Exclusion of net assets of entities under control	-	(43 985)
Change in impairment allowances on amounts due from banks	294	(28 472)
Change in impairment allowances on amounts due from customers	264 732	1 371 697
Change in impairment allowances on other receivables	78 199	(3 855)
Total	(63 327)	1 298 353

supplementary_information_to_the_consolidated_17_pkobp.xlsx

Change in other liabilities, liabilities due to insurance operations andsubordinated liabilities	2015	2014
Change in the balance of the statement of financial position	207 516	3 880 216
Changes resulting from a business combination	(5 772)	-
Exclusion of net assets of entities under control	-	(3 806 803)
Recognition of inflows/repayment of subordinated liabilities in financing activities	-	242 464
Total	201 744	315 877

supplementary_information_to_the_consolidated_18_pkobp.xlsx

In 2015, the Group sold associates and joint ventures in the amount of PLN 22 340 thousand to NEPTUN – fizan managed by PKO Towarzystwo Funduszy Inwestycyjnych SA, in which shares of two companies were sold and shares of one were in-kind contribution. Sold associates and joint ventures had in total: cash and cash equivalents in the amount of PLN 21 491 thousand, other assets in the amount of PLN 118 591 thousand and liabilities in the amount of PLN 110 355 thousand.