Page 42 - 2012_Annual Report

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Saskatchewan Indian Gaming Authority Inc.
Statement of Cash Flows
year ended March 31, 2012
2012
2011
OPERATING ACTIVITIES
Total net income and comprehensive income for the year
before distribution to Saskatchewan Liquor and Gaming Authority (Note 1)
$ 79,152,203
$ 64,439,244
Adjustments for:
Depreciation and amortization
14,617,689
13,900,454
Finance costs
9,774,884
9,725,004
Unrealized loss (gain) on interest rate swaps (Note 11)
2,489,098
(345,073)
Change in non-cash operating working capital:
Accounts receivable
(4,342,214)
178,826
Inventories
(20,517)
(49,419)
Prepaids
(108,036)
(253,980)
Accounts payable and accrued liabilities
(870,459)
2,016,798
Payments to Saskatchewan Liquor and Gaming Authority (Note 9)
(67,499,808)
(69,232,195)
33,192,840
20,379,659
INVESTING ACTIVITIES
Purchase of intangible assets
(2,935)
(22,638)
Purchase of property and equipment
(3,858,051)
(7,825,783)
Purchase of short-term investments
(252,500)
(252,500)
Proceeds on disposal of short-term investments
252,500
252,500
(3,860,986)
(7,848,421)
FINANCING ACTIVITIES
Interest paid
(9,774,884)
(9,725,004)
Repayment of finance lease obligation
(911,801)
(781,802)
Repayment of long-term debt
(4,936,099)
(4,878,550)
(15,622,784)
(15,385,356)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
13,709,070
(2,854,118)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR
54,215,189
57,069,307
CASH AND CASH EQUIVALENTS, END OF YEAR
$ 67,924,259
$ 54,215,189
See accompanying notes to the financial statements