The following table shows a reconciliation of changes in working capital in the consolidated statement of cash flows and changes in the consolidated statement of financial position:
| Year ended | ||
|---|---|---|
| 31 December 2021 | 31 December 2020 | |
| Changes in CO2 emission allowances in balance sheet | (330 919) | (1 153 931) |
| Changes in CO2 emission allowances in cash flow statement | (330 919) | (1 153 931) |
| Change in inventory on the balance sheet | 14 055 | 246 320 |
| adjustment of depreciation by change in product levels and considerations for own purposes | (3 125) | − |
| depreciation of re-usable materials | (1 270) | (4 454) |
| Change in inventory in the cash flow statement | 9 660 | 241 866 |
| Change in trade and other receivables, assets arising from contracts with customers in the balance sheet | (1 271 044) | (51 431) |
| VAT and income tax offset | (2 946) | 1 429 |
| transaction costs | 436 | 2 055 |
| CIT receivables | 1 492 | (140) |
| bond programs | (30) | (917) |
| finance leases | 517 | (219) |
| other | 481 | (1 652) |
| Change in trade and other receivables, assets arising from contracts with customers in the cash flow statement | (1 271 094) | (50 875) |
| Change in trade and other payables and liabilities arising from contracts with customers in the balance sheet | 2 595 662 | 279 265 |
| investment commitments | (20 000) | 44 562 |
| interest charged and not paid | 51 | − |
| adjustment of investment commitments by charged VAT | 23 740 | 18 720 |
| offset of liabilities with excess CIT paid | 8 428 | 9 057 |
| loan | − | 80 000 |
| other | (146) | (475) |
| Change in trade and other payables and liabilities arising from contracts with customers in the cash flow statement | 2 607 735 | 431 129 |
| Change in employee benefit liabilities on balance sheet | (107 622) | 145 284 |
| actuarial gains/losses recognised in other comprehensive income | 103 808 | (77 658) |
| other | (530) | 68 |
| Change in employee benefit liabilities in cash flow statement | (4 344) | 67 694 |
| Change in accounting for subsidies and road lighting modernisation services on balance sheet | 120 619 | 34 253 |
| tangible assets received free-of-charge | (467) | (995) |
| other | − | 1 |
| Change in accounting for subsidies and road lighting modernisation services in cash flow statement | 120 152 | 33 259 |
| Change in other provisions for liabilities and other charges in balance sheet | 1 061 759 | 956 158 |
| elimination of change in provision for Mine Closure Fund | 84 750 | (31 123) |
| recognition/release of provision for settlements with Elektrownia Ostrołęka | 175 707 | (222 200) |
| other | (9 880) | 75 |
| Change in other provisions for liabilities and other charges in cash flow statement | 1 312 336 | 702 910 |
Purchase of financial assets
In the item 'Purchase of financial assets’ in investing activities, the Group reports changes in deposits with maturities of over 3 months, while the item 'Proceeds from disposal of financial assets’ includes movements in deposits with maturities of over 3 months and the sale of shares in PGE EJ 1.
The following tables show a reconciliation of debt in the consolidated statement of financial position and in the consolidated statement of cash flows:
Reconciliation of bank credit and loans
| As at | ||
|---|---|---|
| 31 December 2021 | 31 December 2020 | |
| As at 1 January | 1 953 764 | 2 130 633 |
| Credit and loans received | 1 275 | 2 308 |
| Repayment of credit and loans | (217 154) | (176 371) |
| Measurement and transaction costs | 1 266 | (2 806) |
| As at 31 December | 1 739 151 | 1 953 764 |
Reconciliation of bonds
| As at | ||
|---|---|---|
| 31 December 2021 | 31 December 2020 | |
| As at 1 January | 5 878 053 | 7 775 391 |
| Bond buy-back | (997 110) | (1 894 310) |
| Measurement and transaction costs | 14 711 | (3 028) |
| As at 31 December | 4 895 654 | 5 878 053 |