Vodafone 2015 Annual Report Download - page 110
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Consolidated statement of cash ows
for the years ended 31 March
2015 2014 2013
Note £m £m £m
Net cash ow from operating activities 19 9,715 6,227 8,824
Cash ows from investing activities
Purchase of interests in subsidiaries, net of cash acquired 28 (3,093) (4,279) (1,432)
Purchase of interests in associates and joint ventures (85) (11) (6)
Purchase of intangible assets 10 (2,315) (2,327) (3,758)
Purchase of property, plant and equipment 11 (6,568) (4,396) (3,958)
Purchase of investments 13 (207) (214) (4,249)
Disposal of interests in subsidiaries, net of cash disposed – – 27
Disposal of interests in associates and joint ventures 12 27 34,919 –
Disposal of property, plant and equipment 11 178 79 105
Disposal of investments 13 899 1,483 1,523
Dividends received from associates and joint ventures 583 4,897 5,539
Dividends received from investments –10 2
Interest received 254 582 4 61
Net cash ow from investing activities (10,327) 30,743 (5,746)
Cash ows from nancing activities
Issue of ordinary share capital and reissue of treasury shares 18 18 38 69
Net movement in short-term borrowings 4,722 (2,887) 1,581
Proceeds from issue of long-term borrowings 2,432 1,060 5,422
Repayment of borrowings (4,070) (9,788) (1,720)
Purchase of treasury shares –(1,033) (1,568)
B and C share payments –(14,291) –
Equity dividends paid 9 (2,927) (5,076) (4,806)
Dividends paid to non-controlling shareholders in subsidiaries (247) (264) (379)
Other transactions with non-controlling shareholders in subsidiaries (718) (111) 15
Other movements in loans with associates and joint ventures (52) –168
Interest paid (1,576) (1,897) (1,525)
Net cash ow used in nancing activities (2,418) (34,249) (2,743)
Net cash ow (3,030) 2,721 335
Cash and cash equivalents at beginning of the nancial year 20 10,112 7, 5 0 6 7, 0 0 1
Exchange (loss)/gain on cash and cash equivalents (221) (115) 170
Cash and cash equivalents at end of the nancial year 20 6,861 10,112 7,506
During the year ended 31 March 2014 there were a number of material non-cash investing and nancing activities that arose in relation to the
disposal of our interest in Verizon Wireless, the acquisition of the remaining 23% of Vodafone Italy and the return of value to shareholders. Full details
of these material non-cash transactions are included in note 28 to the consolidated nancial statements.
Vodafone Group Plc
Annual Report 2015
108