46.1. Cash flows from operating activities

Changes in working capital

Year ended
31 December 2019
Year ended
31 December 2018
Change in receivables (298 156) (402 821)
Change in receivables from buyers in statement of financial position (61 346) (196 587)
Change in other financial receivables (243 715) (174 993)
Adjustment due to change in receivables due to disposal of property, plant and equipment and financial assets 1 092 (3 153)
Adjustment accounting for impairment allowances recognized in correspondence with retained earnings following the endorsement of IFRS 9 Finanical Instruments (31 471)
Adjustment by the opening balance of the acquired business 3 802
Other adjustments 2 011 3 383
Change in inventories (175 408) (222 443)
Change in inventories in statement of financial position (174 351) (214 338)
Adjustment by the opening balance of the acquired business 10 579
Adjustment related to transfer of invetories to/from property, plant and equipment (11 636) (8 105)
Change in payables excluding loans and borrowings (213 341) 387 953
Change in liabilities to suppliers in statement of financial position (277 110) 85 311
Change in payroll, social security and other financial liabilities (135 831) 279 451
Change in non-financial liabilities in statement of financial position 27 597 36 117
Change in liabilities arising from taxes excluding income tax 183 347 (6 060)
Adjustment by the opening balance of the acquired business 7 472
Adjustment of VAT change related to capital commitments (8 732) (2 563)
Other adjustments (10 084) (4 303)
Change in other non-current and current assets (1 121 021) 95 920
Change in other current and non-current non-financial assets in statement of financial position (28 883) 14 036
Change in receivables arising from taxes excluding income tax (174 968) 32 252
Change in non-current and current gas emission allowances (287 787) (32 143)
Change in non-current and current energy certificates (602 337) 124 267
Change in advance payments for property, plant and equipment and intangible assets (22 460) (62 394)
djustment accounting for costs of acquiring new contracts and bonuses capitalized in correspondence with retained earnings as a result of endorsement of IFRS 15 Revenue from Contracts with Customers 26 355
Adjustment by impairment losses on other non-financial assets (5 577) (6 847)
Adjustment by the opening balance of the acquired business 7 089
Other adjustments (6 098) 394
Change in deferred income, government grants and accruals (70 938) (130 315)
Change in deferred income, government grants and accruals in statement of financial position 5 141 (197 488)
Adjustmet related to property, plant and equipment and intangible assets received free of charge (19 460) (26 351)
Adjustment related to subsidies received (56 069) (91 003)
Adjustment accounting for recognizing deferred income from connection fees in retained earnings following the endorsement of IFRS 15 Revenue from Contracts with Customers 195 666
Other adjustments (550) (11 139)
Change in provisions 955 263 (512 139)
Change of short term and long term provisions in statement of financial position 1 354 186 (489 893)
Adjustment related to actuarial gains/losses from provisions for post-employment benefits charged to other comprehensive income (140 320) (14 830)
Adjustment for the change in provisions for land reclamation and dismantling recognized under property, plant and equipment (196 823) (5 199)
Adjustment by the opening balance of the acquired business (60 875)
Other adjustments (905) (2 217)
Total (923 601) (783 845)

Income tax paid

In the year ended 31 December 2019, the income tax paid was PLN 423 736 thousand. The Capital Group paid PLN 424 096 thousand of income tax, which results from the payment of income tax advances for 2019 in the amount of PLN 442 525 thousand and income tax settlements for previous years resulting in a net income of PLN 18 429 thousand.

In the year ended 31 December 2018, the income taxes paid totaled PLN 392 184 thousand and included PLN 389 078 thousand relating to the Tax Capital Group and resulting from payment by the Tax Capital Group income tax advance payments of PLN 342 734 thousand as well as the TGC’s final settlement of income tax for 2017 in the amount of PLN 46 344 thousand.

The fact that in 2019 the Tax Capital Group has paid tax advances on a monthly basis, while in 2018 it had paid them on a quarterly basis resulted in a material increase of the income tax paid in the year 2019 versus the comparative period.

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