Air New Zealand 2008 Annual Report Download - page 7

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The accompanying accounting policies and notes form part of these financial statements.
NOTES
GROUP
2008
$M
GROUP
2007
$M
COMPANY
2008
$M
COMPANY
2007
$M
Cash Flows from Operating Activities
Receipts from customers 4,735 4,370 4,314 3,795
Payments to suppliers and employees (4,093) (3,715) (3,845) (3,573)
Income tax refund/(paid) 33 (19) 32 (19)
Interest paid (99) (94) (71) (61)
Interest received 86 84 111 107
662 626 541 249
Rollover of foreign exchange contracts* 81 (171) 81 (171)
Net Cash Flow from Operating Activities 6 743 455 622 78
Cash Flows from Investing Activities
Disposal of property, plant and equipment and intangibles 11 64 2 10
Acquisition of property, plant and equipment and intangibles (274) (598) (156) (98)
Rollover of foreign exchange contracts* (17) (20) (17) (20)
Secured deposit (10) (15) (10) (15)
Acquisition of investments - (3) (425) (10)
Net Cash Flow from Investing Activities (290) (572) (606) (133)
Cash Flows from Financing Activities
Shares issued 1 2 1 -
Interest-bearing liabilities drawdowns 42 493 - -
Net increase in related party funding - - 378 111
Interest-bearing liabilities payments (116) (249) (19) (17)
Rollover of foreign exchange contracts* (48) (62) (48) 27
Dividend on Ordinary Shares 18 (100) (160) (100) (160)
Net Cash Flow from Financing Activities (221) 24 212 (39)
Increase/(Decrease) in Cash and Cash Equivalents 232 (93) 228 (94)
Cash and cash equivalents at beginning of the year 1,057 1,150 1,050 1,144
Cash and Cash Equivalents at End of the Year 6 1,289 1,057 1,278 1,050
* Relates to gains/losses on rollover of foreign exchange contracts that hedge exposures in other financial periods.
AIR NEW ZEALAND
STATEMENT OF CASH FLOWS
FOR THE YEAR TO 30 JUNE 2008
5