Holiday Inn 2003 Annual Report Download - page 32

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30 InterContinental Hotels Group 2003
FINANCIAL STATEMENTS
GROUP CASH FLOW STATEMENT
2003 2002
15 months 12 months
FOR THE 15 MONTHS ENDED 31 DECEMBER 2003 note £m £m £m £m
Operating activities 12 795 720
Interest paid (141) (186)
Costs associated with new facilities (20) –
Premium on early settlement of debt (136) –
Dividends paid to minority shareholders (22) (13)
Interest received 111 124
Returns on investments and servicing of finance (208) (75)
UK corporation tax received/(paid) 25 (96)
Overseas corporate tax paid (21) (27)
Taxation 4(123)
Paid: Intangible fixed assets (10) –
Tangible fixed assets (475) (648)
Fixed asset investments (37) (14)
Received: Tangible fixed assets 265 134
Fixed asset investments 915
Capital expenditure and financial investment 14 (248) (513)
Acquisitions –(24)
Disposals –9
Separation costs (66) –
Acquisitions and disposals (66) (15)
Equity dividends (299) (299)
Net cash flow (22) (305)
Management of liquid resources 16 (129) 232
Financing 16 206 63
Movement in cash and overdrafts 55 (10)
Notes on pages 32 to 55 form an integral part of these financial statements.