BT 1999 Annual Report Download - page 73

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NOTES TO THE FINANCIAL STATEMENTS
72
1999 1998 1997
14. Reconciliation of operating profit to operating cash flows £m £m £m
))))))))))))01111110051111
Group operating profit 3,816 3,657 3,245
Depreciation 2,581 2,395 2,265
Decrease (increase) in stocks (8) 36 31
Increase in debtors (410) (29) (168)
Increase in creditors 388 44 478
Increase (decrease) in provisions (259) (47) 321
Other (73) 15 13
00000000000511!!!01111110051111
Net cash inflow from operating activities 6,035 6,071 6,185
00000000000511!!!01111110051111
1999 1998 1997
15. Management of liquid resources £m £m £m
))))))))))))01111110051111
Purchase of short-term investments and payments into short-term deposits over 3 months (2,973) (1,103) (2,242)
Sale of short-term investments and withdrawals from short-term deposits over 3 months 1,735 1,334 2,790
Net movement of short-term investments and short-term deposits under 3 months not
repayable on demand (1,209) 2,016 (1,052)
00000000000511!!!01111110051111
Net cash inflow (outflow) from management of liquid resources (2,447) 2,247 (504)
00000000000511!!!01111110051111
Movements in all short-term investments and deposits not repayable on demand are reported under the heading of
management of liquid resources.
At Other At
1 April Cash non-cash Currency 31 March
1998 flow changes movement 1999
16. Net debt £m £m £m £m £m
))))))))%!!!0111!!!0111!!!0111!!!0111!!!0111
Analysis of net debt
Cash in hand and at bank 62 40 – – 102
Overnight deposits 14 12 – – 26
Bank overdrafts (42) 15 – 1 (26)
000000005!!!0111!!!0111!!!0111!!!0111!!!0111
34 67 – 1 102
Other current asset investments 717 2,447 (1) 89 3,252
000000005!!!0111!!!0111!!!0111!!!0111!!!0111
Short-term investments and cash, less bank overdrafts 751 2,514 (1) 90 3,354
000000005!!!0111!!!0111!!!0111!!!0111!!!0111
Debt due within one year, excluding bank overdrafts (839) 519 (574) (27) (921)
Debt due after one year (3,889) 113 455 (65) (3,386)
000000005!!!0111!!!0111!!!0111!!!0111!!!0111
Total debt, excluding bank overdrafts (4,728) 632 (119) (92) (4,307)
000000005!!!0111!!!0111!!!0111!!!0111!!!0111
Net debt (3,977) 3,146 (120) (2) (953)
000000005!!!0111!!!0111!!!0111!!!0111!!!0111
1999 1998 1997
Reconciliation of net cash flow to movement in net debt £m £m £m
))))))))))))01111110051111
Increase (decrease) in cash in the year 67 (11) (90)
Cash (inflow) outflow from (increase) decrease in debt 632 (1,602) 435
Cash (inflow) outflow from (decrease) increase in liquid resources 2.447 (2,247) 504
00000000000511!!!01111110051111
Decrease (increase) in net debt resulting from cash flows 3,146 (3,860) 849
Currency and translation movements (2) 79 (47)
Other non-cash movements (120) (20) (30)
00000000000511!!!01111110051111
Decrease (increase) in net debt in the year 3,024 (3,801) 772
Net debt at 1 April (3,977) (176) (948)
00000000000511!!!01111110051111
Net debt at 31 March (953) (3,977) (176)
00000000000511!!!01111110051111