Vodafone 2004 Annual Report Download - page 105

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Annual Report 2004 Vodafone Group Plc
103
28. Analysis of cash flows
2003 2002
2004 as restated(1) as restated(1)
£m £m £m
Net cash inflow from operating activities
Operating loss (4,776) (5,295) (10,377)
Exceptional items (228) 496 4,486
Depreciation 4,362 3,979 2,880
Amortisation of goodwill 13,095 11,875 10,962
Amortisation of other intangible fixed assets 98 53 34
Loss on disposal of tangible fixed assets 89 109 46
12,640 11,217 8,031
(Increase)/decrease in stocks (102) (17) 125
(Increase)/decrease in debtors (293) 198 (242)
Increase/(decrease) in creditors 157 (233) 215
Payments in respect of exceptional items (85) (23) (27)
12,317 11,142 8,102
Net cash outflow for returns on investments and servicing of finance
Interest received 942 543 259
Dividends from investments 25 15 2
Interest paid (901) (1,004) (1,104)
Interest element of finance leases (10) (14) (9)
Dividends paid to minority shareholders in subsidiary undertakings (100) (91) (84)
(44) (551) (936)
Net cash outflow from financing(1)
Issue of ordinary share capital 69 28 3,581
Issue of shares to minorities –112
Purchase of treasury shares (1,032) ––
Purchase of own shares in relation to employee share schemes (17) (14) (6)
Capital element of finance lease payments (115) (97) (46)
Debt due within one year:
Decrease in short-term debt (1,791) (1,366) (2,486)
Repayment of debt acquired –– (1,256)
Debt due after one year:
(Decrease)/increase in long-term debt (507) (1,700) 6
Repayment of debt acquired ––(991)
Issue of new bonds 2,693 2,998 505
(700) (150) (681)
Note:
(1) Restated as a result of the adoption of UITF 38 “Accounting for ESOP Trusts”.