STATEMENT
OF
CASH FLOWS
For the fiscal years ended June 30, 2012, June 30, 2011 and June 30, 2010 Expressed in millions of U.S. dollars Cash flows from investing activities Development credits Disbursements Principal repayments Proceeds from buydown of development credits Net cash used in investing activities Cash flows from financing activities Members’ subscriptions and contributions Cash flows from operating activities Net loss Adjustments to reconcile net loss to net cash used in operating activities Provision for debt relief and for losses on development credits and other exposures, net—charge (release) Non-functional currency translation adjustment (gains) losses, net Discount on prepaid development credits Write-off on buydown of development credits Fair value adjustment on non-trading portfolios, net PPA grants/Development credits origination costs Changes in: Investments—Trading Net investment securities traded/purchased Net derivatives—Investments Net derivatives—Asset/liability management Net securities purchased/sold under resale/repurchase agreements and payable for cash collateral received Net receivable from affiliated organizations Payable for development grants Accrued service and commitment charges Other assets Accounts payable and miscellaneous liabilities Net cash used in operating activities
2012
2011
2010
$(8,650) 3,041 42 (5,567)
$(8,021) 2,501 – (5,520)
$(9,336) 2,349 – (6,987)
8,958
7,580
8,730
(210)
(2,332)
(1,077)
66 (424) 113 45 (39) 9
(44) 455 – – 101 (14)
(90) 167 – – 3 –
(1,964) 1,826 95 (71)
(1,245) (1,139) (59) (90)
(778) (1,073) (10) (104)
(2,495) (4) (336) 8 47 – (3,334)
834 103 532 (32) (106) 969 (2,067)
548 62 444 12 (17) 61 (1,852)
Effect of exchange rate changes on unrestricted cash Net increase (decrease) in unrestricted cash Unrestricted cash at beginning of the fiscal year Unrestricted cash at end of the fiscal year Supplemental disclosure (Decrease) increase in ending balances resulting from exchange rate fluctuations: Development credits outstanding Investment portfolio Derivatives - Asset/liability management Principal repayments written off under Heavily Indebted Poor Countries (HIPC) Debt Initiative Development credits written off under HIPC Debt Initiative and Multilateral Debt Relief Initiative (MDRI) upon countries reaching their Completion Points Amounts received in prior year relating to current year’s development credit prepayments Buydown of development credits – nominal value
$
1
12
(3)
58 20 78
5 15 20
(112) 127 $ 15
$ 8,772 1,638 61
$(5,251) (939) (533)
$(6,175) (1,128) (489) (5)
– 940 87
$
(15)
(48)
(2,464)
(1,108)
– –
The Notes to Financial Statements are an integral part of these Statements
142
THE WORLD BANK ANNUAL REPORT 2012
– –