Aviva 2009 Annual Report Download - page 152

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Aviva plc Consolidated financial statements continued
Annual Report and Accounts 2009
Consolidated statement of cash flows
For the year ended 31 December 2009
The cash flows presented in this statement cover all the Group’s activities and include flows from both policyholder and
shareholder activities. All cash and cash equivalents are available for use by the Group.
Note
2009
£m
Restated
2008
£m
Cash flows from operating activities 53a
Cash generated from operations 3,286 8,737
Tax paid (601) (642)
Net cash from operating activities 2,685 8,095
Cash flows from investing activities
Acquisitions of subsidiaries, joint ventures and associates, net of cash acquired 53b (596) (336)
Disposals of subsidiaries, joint ventures and associates,
net of cash transferred 53c 1,131 353
Purchase of minority interest in subsidiary — (65)
New loans to joint ventures and associates (145) (182)
Repayment of loans to joint ventures and associates 99 52
Net repayment loans to joint ventures and associates 18a & 19a (46) (130)
Purchases of property and equipment 20 (149) (216)
Proceeds on sale of property and equipment 188 59
Purchases of intangible assets 17 (30) (60)
Net cash from investing activities 498 (395)
Cash flows from financing activities
Proceeds from issue of ordinary shares, net of transaction costs 1 20
Treasury shares purchased for employee trusts (53) (29)
New borrowings drawn down, net expenses 4,260 5,515
Repayment of borrowings (3,853) (5,217)
Net drawdown of borrowings 48e 407 298
Interest paid on borrowings (1,199) (1,537)
Preference dividends paid (17) (17)
Ordinary dividends paid (476) (732)
Coupon payments on direct capital instrument (61) (56)
Finance lease payments — (14)
Capital contributions from minority shareholders 6 36
Dividends paid to minority interests of subsidiaries (109) (106)
Net cash from financing activities (1,501) (2,137)
Net increase in cash and cash equivalents 1,682 5,563
Cash and cash equivalents at 1 January 23,531 15,134
Effect of exchange rate changes on cash and cash equivalents (962) 2,834
Cash and cash equivalents at 31 December 53d 24,251 23,531
Of the total cash and cash equivalents, £nil was classified as held for sale
(2008: £493 million) .
The accounting policies (identified alphabetically) on pages 130 to 142 and notes (identified numerically) on pages 151 to 274 are an integral part
of these financial statements.