Marks and Spencer 2006 Annual Report Download - page 54

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52 Marks and Spencer Group plc
Consolidated cash flow information
CASH FLOW STATEMENT 52 weeks 52 weeks
ended ended
1 April 2006 2 April 2005
Notes £m £m
Cash flows from operating activities
Cash generated from operations – continuing 29A 1,183.6 874.4
Cash generated from operations – discontinued 29B 13.9 727.4
Tax paid (101.5) (166.7)
Net cash inflow from operating activities 1,096.0 1,435.1
Cash flows from investing activities
Acquisition of subsidiary, net of cash acquired –(125.9)
Disposal of subsidiary, net of cash disposed –477.0
Capital expenditure and financial investment 29C (266.3) (113.5)
Interest received 12.9 15.4
Net cash (outflow)/inflow from investing activities (253.4) 253.0
Cash flows from financing activities
Interest paid (142.8) (116.5)
Non-equity dividends paid –(2.8)
Other debt financing 29D (420.0) 757.1
Equity dividends paid (204.1) (236.9)
Other equity financing 29E 55.8 (2,265.1)
Net cash outflow from financing activities (711.1) (1,864.2)
Net cash inflow/(outflow) from activities 131.5 (176.1)
Effects of exchange rate changes 1.6 1.1
Opening net cash 149.3 324.3
Closing net cash 30 282.4 149.3
RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBT 52 weeks 52 weeks
ended ended
1 April 2006 2 April 2005
£m £m
Opening net debt (2,147.7) (2,043.9)
Reclassification on the adoption of IAS 32 and IAS 39 (129.5) –
Opening net debt – under IFRS (2,277.2) (2,043.9)
Net cash inflow/(outflow) from activities 131.5 (176.1)
Cash inflow from decrease in current asset investments (1.0) (11.0)
Cash outflow/(inflow) from decrease/(increase) in debt financing 420.0 (757.1)
Debt financing net of liquid resources disposed with subsidiary –839.7
Exchange and other movements (2.6) 0.7
Movement in net debt 547.9 (103.8)
Closing net debt (1,729.3) (2,147.7)