in PLN millions, unless otherwise stated
| Liabilities due to borrowing |
As at 31 |
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 |
| Liabilities due to borrowing |
As at 31 December 2018 |
Change in accounting policies – implementation of IFRS |
As at 1 January 2019 |
Cash flows | Accrued interest | Exchange differences | Other changes | As at 31 December 2019 |
|---|---|---|---|---|---|---|---|---|
| Bank loans | 5 676 | – | 5 676 | (3 759) | 246 | 217 | 6 | 2 386 |
| Loans | 2 246 | – | 2 246 | 450 | 78 | (4) | 24 | 2 794 |
| Debt securities | – | – | – | 1 966 | 35 | – | – | 2 001 |
| Leases | 27 | 637 | 664 | (86) | 35 | – | 79 | 692 |
| Total debt | 7 949 | 637 | 8 586 | (1 429) | 394 | 213 | 109 | 7 873 |
| Free cash and cash equivalents | 949 | – | 949 | 33 | – | – | – | 982 |
| Net debt | 7 000 | 637 | 7 637 | (1 462) | 394 | 213 | 109 | 6 891 |
|
from 1 January 2020 |
from 1 January 2019 to 31 December 2019 |
|
|---|---|---|
| Financing activities | ||
| Proceeds from borrowings | 4 247 | 4 730 |
| Proceeds from the issue of debt financial instruments | – | 2 000 |
| Repayment of borrowings | (4 513) | (7 746) |
| Repayment of lease liabilities | (97) | (52) |
| Repayment of interest on borrowings and debt securities | (152) | (215) |
| Repayment of interest on leases | (13) | (23) |
|
Investing activities |
||
| Paid capitalised interest on borrowings | (129) | (123) |
| TOTAL | (657) | (1 429) |
Currency risk and interest rate risk are related to borrowings. A description of exposures to financial risks may be found in Note 7.5.