Integrated Report of KGHM Polska Miedź S.A.
and the KGHM Polska Miedź S.A. Group
for 2020

8.5 Cash and cash equivalents

in PLN millions, unless otherwise stated

Accounting policies

Cash and cash equivalents include mainly cash in bank accounts and deposits with maturities of up to three months from the date of their placement (the same applies to the statement of cash flows). Cash is measured at its nominal amount plus interest, including a loss allowance for expected credit losses (Note

As at
31 December 2020
As at
31 December 2019
Cash in bank accounts 1 841 630
Other financial assets with a maturity of up to 3 months from the date of acquisition – deposits 675 384
Other cash 6 2
Total cash and cash equivalents 2 522 1 016
Restricted cash 21 34
Free cash and cash equivalents 2 501 982


As at 31 December 2020, the Group had cash in bank deposits in the amount of PLN 71 million (as at 31 December 2019 PLN 85 million), which are funds in separate VAT accounts, designated for servicing split payments. These funds are gradually used, mainly to pay the VAT payables to suppliers and other payments mandated by law.

Search results