Aviva 2001 Annual Report Download - page 56

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54 CGNU plc Annual report + accounts 2001
Consolidated cash flow statement
For the year ended 31 December 2001
2001 2000
£m £m
Operating activities
Net cash inflow from operating activities, excluding exceptional items
and merger transaction costs (45a) 418 738
Exceptional items and merger transaction costs paid (208) (251)
210 487
Returns on investments and servicing of finance
Interest paid on borrowings (197) (205)
Interest paid on subordinated debt (10) –
Preference dividends paid (17) (17)
Dividends paid to minorities (22) (35)
Net cash outflow from servicing of finance (246) (257)
Tax
Corporation tax paid (39) (210)
Capital expenditure
Purchases of tangible fixed assets (131) (143)
Sales of tangible fixed assets 17 24
Net purchases of tangible fixed assets (114) (119)
Acquisitions and disposals
Net acquisitions of subsidiary and associated undertakings (45b) 853 (277)
Equity dividends
Equity dividends paid (856) (816)
Financing activities
Issue of share capital (45c) 29 54
Net drawdown of loans 94 439
Proceeds from issue of subordinated debt (34) 1,157 –
Net cash inflow from financing activities 1,280 493
Net cash flows 1,088 (699)
Cash flows w ere invested as follows:
(Decrease)/increase in cash holdings (45d) (69) 119
Net portfolio investment
Purchases of investments 16,255 12,824
Sales of investments (15,032) (14,365)
Net purchases/(sales) of investments (45f) 1,223 (1,541)
Non-trading cash (inflow from)/outflow to long-term business operations (66) 723
Net investment of cash flows 1,088 (699)
The cash flows presented in this statement relate to non-long-term business transactions only.
The accounting policies (identified alphabetically) on pages 44 to 46 and notes (identified numerically) on pages 56 to 90 are an
integral part of these accounts. The auditor’s report is on page 43.