Holiday Inn 2015 Annual Report Download - page 95

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Group statement of cash flows
For the year ended 31 December 2015 Note
2015
$m
2014
$m
2013
$m
Profit for the year 1,224 392 374
Adjustments reconciling profit for the year to cash flow from operations 22 (414) 361 414
Cash flow from operations 22 810 753 788
Interest paid (75) (76) (74)
Interest received 222
Tax paid on operating activities 7(109) (136) (92)
Net cash from operating activities 628 543 624
Cash flow from investing activities
Purchase of property, plant and equipment (42) (84) (159)
Purchase of intangible assets (157) (162) (86)
Investment in other financial assets (28) (5) (154)
Investment in associates and joint ventures (30) (15) (10)
Loan advances to associates and joint ventures (25) (3) –
Acquisition of business, net of cash acquired 10 (438) ––
Capitalised interest paid (4) (2) –
Disposal of hotel assets, net of costs and cash disposed 11 1,277 345 460
Proceeds from other financial assets 649 109
Loan repayments by associates and joint ventures 22 ––
Distribution from associate on sale of hotel ––17
Proceeds from disposal of associates and joint ventures 9–3
Tax paid on disposals 7(1) –(5)
Net cash from investing activities 589 123 175
Cash flow from financing activities
Proceeds from the issue of share capital ––5
Purchase of own shares –(110) (283)
Purchase of own shares by employee share trusts (47) (68) (44)
Dividends paid to shareholders 8(188) (942) (533)
Dividend paid to non-controlling interest –(1) (1)
Transaction costs relating to shareholder returns –(1) –
Issue of long-term bonds 458 ––
Other new borrowings 400 ––
New borrowings repaid (400) ––
(Decrease)/increase in other borrowings (355) 382 (1)
Proceeds from foreign exchange swaps 22 ––
Close-out of currency swaps –4–
Net cash from financing activities (110) (736) (857)
Net movement in cash and cash equivalents in the year 1,107 (70) (58)
Cash and cash equivalents at beginning of the year 17 55 134 195
Exchange rate effects (64) (9) (3)
Cash and cash equivalents at end of the year 17 1,098 55 134
Notes on pages 94 to 141 form an integral part of these Financial Statements.
93IHG Annual Report and Form 20-F 2015
STRATEGIC REPORT GOVERNANCE GROUP FINANCIAL STATEMENTS ADDITIONAL INFORMATIONPARENT COMPANY FINANCIAL STATEMENTS