Consolidated cash flow statement for the years ended 31 March
Consolidated cash flow statement (36 KB)
| Notes | 2010 £m | 2009 £m | 2008 £m |
||
|---|---|---|---|---|---|
| Cash flows from operating activities | |||||
| Total operating profit | 3,293 | 2,623 | 2,964 | ||
| Adjustments for: | |||||
| Exceptional items, remeasurements and stranded cost recoveries | (172) | 292 | (369) | ||
| Depreciation and amortisation | 1,188 | 1,122 | 994 | ||
| Share-based payment charge | 25 | 22 | 18 | ||
| Changes in working capital | 431 | 54 | (150) | ||
| Changes in provisions | (98) | (99) | (5) | ||
| Changes in pensions and other post-retirement benefit obligations | (521) | (678) | (333) | ||
| Cash flows relating to exceptional items | (135) | (131) | (132) | ||
| Cash flows relating to stranded cost recoveries | 361 | 359 | 278 | ||
| Cash flows generated from continuing operations | 4,372 | 3,564 | 3,265 | ||
| Cash flows relating to discontinued operations (excluding tax) | – | (8) | 10 | ||
| Cash generated from operations | 4,372 | 3,556 | 3,275 | ||
| Tax received/(paid) | 144 | (143) | (110) | ||
| Net cash inflow from operating activities | 4,516 | 3,413 | 3,165 | ||
| Cash flows from investing activities | |||||
| Acquisition of subsidiaries, net of cash acquired | – | – | (3,502) | ||
| Acquisition of other investments | (86) | (73) | (26) | ||
| Sale of investments in subsidiaries and other investments | 6 | – | 55 | ||
| Purchases of intangible assets | (104) | (78) | (45) | ||
| Purchases of property, plant and equipment | (3,007) | (3,107) | (2,832) | ||
| Disposals of property, plant and equipment | 15 | 27 | 26 | ||
| Dividends from joint ventures | 18 | – | – | ||
| Interest received | 21 | 85 | 206 | ||
| Purchases of financial investments | (2,832) | (6,173) | (8,788) | ||
| Sales of financial investments | 3,637 | 6,272 | 8,833 | ||
| Cash flows used in continuing operations – investing activities | (2,332) | (3,047) | (6,073) | ||
| Cash flows relating to discontinued operations – investing activities (net of tax) | – | 1,049 | 3,050 | ||
| Net cash flow used in investing activities | (2,332) | (1,998) | (3,023) | ||
| Cash flows from financing activities | |||||
| Proceeds from issue of share capital and sale of treasury shares | 18 | 8 | 23 | ||
| Proceeds from loans received | 1,933 | 4,892 | 1,568 | ||
| Repayment of loans | (2,257) | (2,618) | (650) | ||
| Net movements in short-term borrowings and derivatives | (175) | (633) | 671 | ||
| Interest paid | (1,003) | (1,061) | (900) | ||
| Exceptional finance costs on the redemption of debt | (33) | – | – | ||
| Dividends paid to shareholders | (688) | (838) | (780) | ||
| Cash paid to shareholders under B share scheme | – | – | (26) | ||
| Repurchase of share capital and purchase of treasury shares | (7) | (627) | (1,498) | ||
| Net cash flow used in financing activities | (2,212) | (877) | (1,592) | ||
| Net (decrease)/increase in cash and cash equivalents | (28) | 538 | (1,450) | ||
| Exchange movements | (1) | 18 | 4 | ||
| Cash included within assets of businesses held for sale | – | – | 23 | ||
| Net cash and cash equivalents at start of year | 720 | 164 | 1,587 | ||
| Net cash and cash equivalents at end of year (i) | 691 | 720 | 164 |
- (i)
- Net of bank overdrafts of £29m (2009: £17m; 2008: £10m).