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Strategic Report Corporate Governance Financial Statements Additional Information
26. Net debt continued
(b) Analysis of changes in net debt
Cash
and cash
equivalents
£m
Bank
overdrafts
£m
Net cash
and cash
equivalents
£m
Financial
investments
£m
Borrowings
£m
Derivatives
£m
Total1
£m
At 1 April 2011 384 (42) 342 2,939 (23,156) 1,144 (18,731)
Cash flow (52) 9(43) (577) 1,343 (444) 279
Fair value gains and losses and exchange movements – – – 8 22 (117 ) (87)
Interest income/(charges) – – – 23 (1,187) 122 (1,042)
Reclassified as held for sale –––(2) – – (2)
Other non-cash movements ––––(14) –(14)
At 31 March 2012 332 (33) 299 2,391 (22,992) 705 (19,597)
Cash flow 325 10 335 2,963 (3,433) (86) (221)
Fair value gains and losses and exchange movements 14 –14 47 (452) (145) (536)
Interest income/(charges) –––30 (1,137) 90 (1,017)
Other non-cash movements ––––(58) –(58)
At 31 March 2013 671 (23) 648 5,431 (28,072) 564 (21,429)
Cash flow (291) 8(283) (1,755) 2,009 (112) (141)
Fair value gains and losses and exchange movements (26) –(26) (113) 1,223 276 1,360
Interest income/(charges) – – – 36 (1,168) 79 (1,053)
Extinguishment of debt resulting from LIPA MSA transition
(note 4) ––––98 –98
Other non-cash movements ––––(25) –(25)
At 31 March 2014 354 (15) 339 3,599 (25,935) 807 (21,190)
Balances at 31 March 2014 comprise:
Non-current assets –––––1,557 1,557
Current assets 354 – 354 3,599 –413 4,366
Current liabilities –(15) (15) –(3,496) (339) (3,850)
Non-current liabilities ––––(22,439) (824) (23,263)
354 (15) 339 3,599 (25,935) 807 (21,190)
1. Includes accrued interest at 31 March 2014 of £239m (2013: £250m).
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