2022-23 SGI CANADA Annual Report

Consolidated Statement of Cash Flows For the years ended March 31 Cash provided by (used for): Operating activities Net income Non-cash items: Bond amortization Amortization and depreciation (thousands of $) 2023 2022 $ 24,447 $ 81,772 (4,282) 5,811 6,474 6,123 Net realized losses (gains) on sale of investments 16,095 (26,115) Net unrealized losses on change in market value of investments 4,229 53,596 Interest revenue from investments Interest expense from right-of-use assets (note 7) (23,261) 213 (16,703) 242 Dividend revenue from investments (91) Income tax (recovery) expense (note 15) (6,406) 2,809 Actuarial gains from employee benefit programs Change in non-cash operating items (note 18) Income taxes paid Investing activities Interest received 257 486 99,380 87,548 (9,724) (18,868) 107,422 176,610 21,794 16,115 Dividends received 170 Purchases of investments (1,172,726) (1,182,820) Proceeds on sale of investments 1,046,123 1,088,425 Purchases of property and equipment (5,399) (2,660) Purchases of intangible assets (242) (191) (110,450) (80,961) Financing activities Dividends paid Interest paid (note 7) Lease liability payments (note 7) (Decrease) increase in cash and cash equivalents (5,000) (89,250) (213) (242) (2,185) (2,156) (7,398) (91,648) (10,426) 4,001 Cash and cash equivalents, beginning of the year 53,492 49,491 Cash and cash equivalents, end of the year $ 43,066 $ 53,492 The accompanying notes are an integral part of these consolidated financial statements. 38 2022-23 SGI CANADA Annual Report

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