Vodafone 2005 Annual Report Download - page 116

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Notes to the Consolidated Financial Statements continued
114 |Financials
28.Analysis of cash flows
2005 2004 2003
£m £m £m
Net cash inflow from operating activities
Operating loss (5,304) (4,776) (5,295)
Exceptional items 315 (228) 496
Depreciation 4,528 4,362 3,979
Goodwill amortisation (subsidiary undertakings) 12,929 13,095 11,875
Amortisation of other intangible fixed assets 412 98 53
Loss on disposal of tangible fixed assets 161 89 109
13,041 12,640 11,217
Decrease/(increase) in stocks 22 (102) (17)
(Increase)/decrease in debtors (453) (293) 198
Increase/(decrease) in creditors 150 157 (233)
Payments in respect of exceptional items (47) (85) (23)
12,713 12,317 11,142
Net cash outflow for returns on investments and servicing of finance
Interest received 746 942 543
Dividends from investments 19 25 15
Interest paid (1,074) (901) (1,004)
Interest element of finance leases (8) (10) (14)
Dividends paid to minority shareholders in subsidiary undertakings (74) (100) (91)
(391) (44) (551)
Net cash outflow from financing
Issue of ordinary share capital 115 69 28
Issue of shares to minorities –– 1
Purchase of treasury shares (4,053) (1,032) –
Purchase of own shares in relation to employee share schemes –(17) (14)
Capital element of finance lease payments (12) (115) (97)
Debt due within one year:
Decrease in short term debt (1,997) (1,791) (1,366)
Debt due after one year:
Decrease in long-term debt (161) (507) (1,700)
Issue of new bonds –2,693 2,998
(6,108) (700) (150)