National Grid 2015 Annual Report Download - page 137

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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 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 (21,19 0 )
Cash flow (259) 12 (247) (1,194) 1,721 (77) 203
Fair value gains and losses and exchange movements 24 –24 118 (451) (1,468) (1,777)
Interest income/(charges)2–––36 (1,160) 56 (1,068)
Other non-cash movements ––––(82) (1) (83)
At 31 March 2015 119 (3) 116 2,559 (25,907) (683) (23,915)
Balances at 31 March 2015 comprise:
Non-current assets –––––1,539 1,539
Current assets 119 –119 2,559 –177 2,855
Current liabilities –(3) (3) –(3,025) (635) (3,663)
Non-current liabilities ––––(22,882) (1,764) (24,646)
119 (3) 116 2,559 (25,907) (683) (23,915)
1. Includes accrued interest at 31 March 2015 of £230m (2014: £239m; 2013: £250m).
2. An exceptional expense of £131m (2014: £nil; 2013: £nil) is included in net interest charge on the components of net debt and an exceptional cash outflow of £152m (2014: £nil; 2013: £nil)
isincluded in net interest paid on the components of net debt.
Financial Statements
NATIONAL GRID ANNUAL REPORT AND ACCOUNTS 2014/15 135