8.4.2 Net debt changes
in PLN millions, unless otherwise stated
| Liabilities due to borrowing |
As at 31 December 2020 |
Cash flows |
Accrued interest |
Exchange differences |
Other changes |
As at |
| Bank loans | 1 994 | (1 470) | 62 | 150 | (1) | 735 |
| Loans | 2 685 | (388) | 79 | 190 | 2 | 2 568 |
| Debt securities | 2 000 | (36) | 37 | – | – | 2 001 |
| Leases | 656 | (100) | 31 | – | 58 | 645 |
| Total debt | 7 335 | (1 994) | 209 | 340 | 59 | 5 949 |
| Free cash and cash equivalents | 2 501 | (621) | – | – | – | 1 880 |
| Net debt | 4 834 | (1 373) | 209 | 340 | 59 | 4 069 |
| Liabilities due to borrowing |
As at 31 December 2019 |
Cash flows
|
Accrued interest | Exchange differences | Other changes | As at 31 December 2020 |
| Bank loans | 2 386 | (302) | 109 | (181) | (18) | 1 994 |
| Loans | 2 794 | (175) | 84 | (15) | (3) | 2 685 |
| Debt securities | 2 001 | (52) | 51 | – | – | 2 000 |
| Leases | 692 | (128) | 35 | 2 | 55 | 656 |
| Total debt | 7 873 | (657) | 279 | (194) | 34 | 7 335 |
| Free cash and cash equivalents | 982 | 1 519 | – | – | – | 2 501 |
| Net debt | 6 891 | (2 176) | 279 | (194) | 34 | 4 834 |
Reconciliation of cash flows recognised in net debt change to the consolidated statement of cash flows
|
from 1 January 2021 |
from 1 January 2020 to 31 December 2020 |
|
| I. Financing activities | (1 872) | (528) |
| Proceeds from borrowings | 358 | 4 247 |
| Repayment of borrowings | (2 078) | (4 513) |
| Repayment of lease liabilities | (67) | (97) |
| Repayment of interest on borrowings and debt securities | (70) | (152) |
| Repayment of interest on leases | (15) | (13) |
| II. Investing activities | (122) | (129) |
| Paid capitalised interest on borrowings | (122) | (29) |
| III. Changes in free cash and cash equivalents | (621) | 1 519 |
| TOTAL (I+II+III) | (1 373) | (2 176) |
Currency risk and interest rate risk are related to borrowings. A description of exposures to financial risks may be found in Note 7.5.