EasyJet 2014 Annual Report Download - page 123

Download and view the complete annual report

Please find page 123 of the 2014 EasyJet annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 140

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140

Accounts & other information
www.easyJet.com 121
20 Reconciliation of operating profit to cash generated from operations
2014
£ million
2013
£ million
Operating profit 581 497
Adjustments for non-cash items:
Depreciation 106 102
Loss on disposal of property, plant and equipment 2 –
Amortisation of intangible assets 12 10
Share-based payments 23 18
Changes in working capital and other items of an operating nature:
(Increase)/decrease in trade and other receivables (6) 74
Increase in trade and other payables 18 64
Increase in provisions 32 29
Decrease in other non-current assets 33 8
Decrease in derivative financial instruments (2) –
Decrease in non-current deferred income (6) (14)
793 788
21 Reconciliation of net cash flow to movement in net cash
1 October
2013
£ million
Exchange
differences
£ million
Loan issue
costs
£ million
Net cash flow
£ million
30 September
2014
£ million
Cash and cash equivalents 1,013 (12) – (577) 424
Money market deposits 224 (1) – 338 561
1,237 (13) – (239) 985
Bank loans (484) 4 (1) 104 (377)
Finance lease obligations (195) 1 – 8 (186)
(679) 5 (1) 112 (563)
Net cash 558 (8) (1) (127) 422