TILON Cash Flow Statement

Financials in millions KRW. Fiscal year is January - December.

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	FY 2014	FY 2013	FY 2012
Period Ending	Dec '14 Dec 31, 2014	Dec '13 Dec 31, 2013	Dec '12 Dec 31, 2012
Net Income	151.5	220.88	-337.16
Depreciation & Amortization	861.35	940.83	993.39
Loss (Gain) From Sale of Assets	1.8	-2.81	-418.26
Provision & Write-off of Bad Debts	618.61	-8.38	74.9
Other Operating Activities	15.13	140.68	81.3
Change in Accounts Receivable	1,228	-2,257	-416.71
Change in Inventory	-1,902	-1,278	-
Change in Accounts Payable	-376.63	384.67	508.28
Change in Income Taxes	19.9	-	-
Change in Other Net Operating Assets	141.05	352.97	-1,218
Operating Cash Flow	758.28	-1,506	-732.34
Capital Expenditures	-126.37	-314.16	-486.21
Sale of Property, Plant & Equipment	9.09	11.91	1,354
Sale (Purchase) of Intangibles	-698.08	-349.14	-449.1
Investment in Securities	1.49	-12.39	-0.02
Other Investing Activities	-31.39	-0.83	12.4
Investing Cash Flow	-845.25	-564.6	431.08
Short-Term Debt Issued	155	820	222.66
Long-Term Debt Issued	-	3,980	212.74
Total Debt Issued	155	4,800	435.4
Short-Term Debt Repaid	-568.82	-450.95	-100
Long-Term Debt Repaid	-	-3,965	-
Total Debt Repaid	-568.82	-4,416	-100
Net Debt Issued (Repaid)	-413.82	383.87	335.4
Issuance of Common Stock	638.84	2,000	2,000
Repurchase of Common Stock	-	-	-1,495
Other Financing Activities	-	-	0
Financing Cash Flow	225.03	2,384	840.11
Miscellaneous Cash Flow Adjustments	-0	-	-
Net Cash Flow	138.05	312.85	538.85
Free Cash Flow	631.92	-1,821	-1,219
Free Cash Flow Margin	11.41%	-36.31%	-40.21%
Free Cash Flow Per Share	325.33	-964.37	-643.33
Levered Free Cash Flow	-187.33	-2,217	-
Unlevered Free Cash Flow	-69.56	-2,081	-
Change in Working Capital	-890.12	-2,798	-1,127

Source: S&P Global Market Intelligence. Standard template. Financial Sources.