Vodafone 2000 Annual Report Download - page 52

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Vodafone AirTouch Plc Annual Report & Accounts for the year ended 31 March 2000
50
Notes to the Consolidated Financial Statements continued
25 Analysis of cash flows 2000 1999
£m £m
Net cash inflow from operating activities
Operating profit 981 847
Depreciation and amortisation 1,432 297
Increase in stocks (65) (15)
Increase in debtors (271) (213)
Increase in creditors 433 129
–––––––– ––––––––
2,510 1,045
–––––––– ––––––––
Net cash outflow for returns on investments
and servicing of finance
Interest received 57 16
Interest paid (370) (85)
Dividends paid to minority shareholders (93) (21)
–––––––– ––––––––
(406) (90)
–––––––– ––––––––
Net cash outflow for capital expenditure
and financial investment
Purchase of intangible fixed assets (185) (18)
Purchase of tangible fixed assets (1,848) (737)
Purchase of trade investments (17) (4)
Disposal of interests in tangible fixed assets 294 14
Disposal of trade investments 991 54
Loans repaid by associated undertakings 93
–––––––– ––––––––
(756) (688)
–––––––– ––––––––
Net cash outflow for acquisitions and disposals
Purchase of subsidiary undertakings (4,062) (255)
Net cash acquired with subsidiary undertakings 4–
Disposal of interest in subsidiary undertaking –19
Purchase of interests in associated undertakings (717) (75)
Disposal of interests in associated undertakings 28 4
Purchase of customer bases (9) (10)
–––––––– ––––––––
(4,756) (317)
–––––––– ––––––––
Net cash inflow from operating activities is stated after cash payments of £30m for exceptional reorganisation costs (1999 – £9m).
The cash inflow from the disposal of interests in tangible fixed assets includes £279m of cash receipts in relation to the sub-letting of certain
US communications towers.
Material non-cash transactions in the year comprised issues of new ordinary shares in relation to the merger with AirTouch Communications,
Inc. and the acquisition of Mannesmann AG. Further details are included in note 18.
26 Analysis of net debt Other non-cash
Acquisitions changes
1 April (excluding cash & exchange 31 March
1999 Cash flow & overdrafts) movements 2000
£m £m £m £m £m
Liquid investments – 33 – (3) 30
–––––––– –––––––– –––––––– –––––––– ––––––––
Cash at bank and in hand 6 153 – – 159
Bank overdrafts (6) (37) – – (43)
–––––––– –––––––– –––––––– –––––––– ––––––––
– 116 – – 116
–––––––– –––––––– –––––––– –––––––– ––––––––
Debt due within one year (other than bank overdrafts) (371) (149) (449) 218 (751)
Debt due after one year (1,137) (3,319) (1,684) 102 (6,038)
–––––––– –––––––– –––––––– –––––––– ––––––––
(1,508) (3,468) (2,133) 320 (6,789)
–––––––– –––––––– –––––––– –––––––– ––––––––
(1,508) (3,319) (2,133) 317 (6,643)
–––––––– –––––––– –––––––– –––––––– ––––––––