Integrated report 2021

18. Cash and cash equivalents


Cash and cash equivalents

Cash comprises cash on hand and demand deposits.  

Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

Short-term deposits have different maturities, typically from one day up to one month, depending on the Group’s needs for cash. 

The balance of cash and cash equivalents comprise the following positions:

As at December 31, 2021 As at December 31, 2020
Cash on hand and cash at bank 5,059 1,415
Overnight deposits 5 309
Short-term deposits 1.124 1,423
Cash in VAT accounts 545 1,042
TOTAL 6,733 4,189
Exchange differences on cash in foreign currencies 1 (16)
Cash and cash equivalents presented in the statement of cash flows 6,734 4,173
Undrawn borrowing facilities as at December 31 6,002 6,556
including overdraft facilities 1,830 1,811

A detailed description of credit agreements is presented in note 25.1.3 of these financial statements.

The value of cash includes restricted cash amounting to PLN 212 million (PLN 93 million in the comparative period) in customer accounts at PGE Dom Maklerski S.A., which constitute collateral for settlements with clearinghouse IRGiT.

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