Aviva 2013 Annual Report Download - page 243

Strategic report Governance IFRS Financial statements Other information
Aviva plc
Annual report and accounts 2013
Where applicable, the accounting policies of the Company are the same as those of the Group on pages 110 to 123. The notes
identified alphabetically on pages 242 to 246 are an integral part of these separate financial statements. Where the same items
appear in the Group financial statements, reference is made to the notes (identified numerically) on pages 131 to 237.
241
Financial statements of the Company continued
Statement of cash flows
For the year ended 31 December 2013
All the Company’s operating and investing cash requirements are met by subsidiary companies and settled through intercompany
loan accounts. As the direct method of presentation has been adopted for these activities, no further disclosure is required.
In respect of financing activities, the following items pass through the Company’s own bank accounts.
2013
£m
2012
£m
Cash flows from investing activities
Purchase of Financial investments (294) —
Net cash used in investing activities (294) —
Cash flows from financing activities
Funding provided by subsidiaries 1,283 887
New borrowings, net of expenses 2,137 2,200
Repayment of borrowings (2,179) (2,295)
Net repayment of borrowings (42) (95)
Proceeds from issue of fixed rate tier 1 notes, net of expenses — 392
Preference dividends paid (17) (17)
Ordinary dividends paid (429) (630)
Interest paid on direct capital instruments and fixed rate tier 1 notes (92) (73)
Interest paid on borrowings (328) (310)
Treasury shares purchased for employee trusts (25) (25)
Shares issued under equity compensation plans — 1
Net cash from financing activities 350 130
Net increase in cash and cash equivalents 56 130
Cash and cash equivalents at 1 January 152 17
Exchange gains on cash and cash equivalents 15 5
Cash and cash equivalents at 31 December 223 152