Ryanair 2004 Annual Report Download - page 71

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(e) Cash flows (continued)
2004 2003
A summarised consolidated cash flow under US GAAP is as follows 000 000
Cash inflow from operating activities 439,694 348,200
Cash (outflow) from investing activities (354,299) (575,806)
Cash inflow from financing activities 121,734 282,590
Increase in cash and cash equivalents 207,129 54,984
Cash and cash equivalents at beginning of year 537,476 482,492
Cash and cash equivalents at end of year 744,605 537,476
The group’s cash outflow from investing activities includes an increase in restricted cash balances at March 31, 2004 of 79.1m
(2003: 120.9m) which are maintained to hedge its exposure to adverse movements in underlying market rates in relation to its
current and planned debt financing.
The following table reconciles cash and cash equivalents as presented under US GAAP 2004 2003
with cash and liquid resources as presented under Irish and UK GAAP: 000 000
Cash and cash equivalents under US GAAP 744,605 537,476
Restricted cash 200,000 120,890
Deposits with a maturity between three and six months 312,745 401,852
Cash and liquid resources under Irish and UK GAAP 1,257,350 1,060,218
Supplemental schedule of non cash investing and financing activities
The group did not enter into new capital leases for fixture and fittings, plant and equipment and motor vehicles during the year or
preceding year.
(Continued)
Summary of differences between Irish, United Kingdom and
United States generally accepted accounting principles 71
A N N U A L R E P O RT & F I N A N C I A L S T A T E M E N T S 2 0 0 4