JPMorgan - KASE
JPMorgan - KASE
JPMorgan - KASE
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17 Net Income Per Share<br />
The income per share calculations are based on the weighted average and diluted numbers of<br />
Class A common shares outstanding during the period as follows:<br />
Years ended December 31st<br />
2001 2000 1999<br />
Weighted average number of common shares outstanding .......... 79,807,038 70,590,314 44,512,359<br />
Dilution from exercisable options (including convertible<br />
securities) ................................................ 3,842,122 1,637,198 181,865<br />
DilutionfromSeries5warrants ............................... — 901,642 —<br />
Diluted number of shares outstanding ............................. 83,649,160 73,129,154 44,694,224<br />
No options were excluded from the calculation of diluted number of shares outstanding in 2001<br />
and in 2000, 385,870 options were excluded from the calculation (1999—1,266,500) as the<br />
exercise price was in excess of market price.<br />
18 Cash Flow Information<br />
Interest and income taxes paid:<br />
Years ended December 31st<br />
2001 2000 1999<br />
Interestpaid .............................................................. 7,491 35,366 9,367<br />
Income taxes paid .......................................................... 102,238 81,082 6,772<br />
Changes in non-cash operating working capital items include:<br />
Years ended December 31st<br />
2001 2000 1999<br />
(Increase)/decrease in accounts receivable .................................... (16,573) (30,414) 27,638<br />
(Increase)/decrease in inventory ............................................ (9,138) (15,677) 10,821<br />
(Increase)/decrease in prepaid expenses ..................................... (7,089) (7,381) (99)<br />
Increase/(decrease) in accounts payable and accrued liabilities .................. (11,044) 30,395 (1,359)<br />
(Decrease)/increase in prepayments for crude oil and refined products .......... (4,552) 11,974 (975)<br />
Decrease/(increase) in receivable from joint venture ........................... — 7,554 (7,554)<br />
ShNOSworkingcapitalacquired,excludingcash(Note3) ...................... — 33,548 —<br />
Kazgermunai working capital acquired on proportionate consolidation,<br />
excludingcash(Note5).................................................. — 1,533 —<br />
(48,396) 31,532 28,472<br />
Change in long-term debt includes:<br />
Years ended December 31st<br />
2001 2000 1999<br />
Proceeds from ShNOS bonds ............................................... 13,227 — —<br />
Proceeds from term facility ................................................ 16,000 — —<br />
12%Notesrepurchased ................................................... (900) — —<br />
12% Notes sold, net of discount ............................................ 14,080 — —<br />
Accrued interest on Kazgermunai debt ...................................... 5,679<br />
Repayment of Kazgermunai debt ........................................... (26,659) — —<br />
Repayment of Canadian and US notes ....................................... (24,006) (173,860) —<br />
Deferred financing charges on term facility .................................. (720) — —<br />
Deferred issue costs on 12% Notes .......................................... (1,784) — —<br />
Deferredfinancingcosts................................................... — — (907)<br />
(5,083) (173,860) (907)<br />
F-41
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