BT 2001 Annual Report Download - page 80

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Notes
2001
£m
2000
£m
1999
£m
Net cash inflow from operating activities 14 5,887 5,849 6,035
Dividends from associates and joint ventures 10 52
Returns on investments and servicing of finance
Interest received 293 286 111
Interest paid, including finance costs (1,020) (449) (439)
Net cash outflow for returns on investments and servicing of finance (727) (163) (328)
Taxation
UK corporation tax paid (669) (1,308) (359)
Windfall tax paid –– (255)
Non-UK tax paid –(3) (16)
Taxation paid (669) (1,311) (630)
Capital expenditure and financial investment
Purchase of intangible fixed assets (4,208) ––
Purchase of tangible fixed assets (4,756) (3,568) (3,220)
Sale of tangible fixed assets 440 143 143
Purchase of fixed asset investments (93) (373) (103)
Disposal of fixed asset investments 175 46 4,226
Net cash inflow (outflow) for capital expenditure and financial investment (8,442) (3,752) 1,046
Acquisitions and disposals
Purchase of subsidiary undertakings, net of £101m cash acquired
(2000 – £69m cash acquired, 1999 – £5m overdraft) (11,215) (4,065) (672)
Investments in joint ventures (3,214) (933) (1,038)
Investments in associates (72) (2,167) (288)
Repayment of loan to joint venture –550 –
Disposal of subsidiary undertakings 245 206 14
Sale of investments in joint ventures and associates 502 417
Net cash outflow for acquisitions and disposals (13,754) (6,405) (1,967)
Equity dividends paid (1,432) (1,364) (1,186)
Cash inflow (outflow) before management of liquid resources and financing (19,127) (7,141) 2,972
Management of liquid resources 15 (480) 1,236 (2,447)
Financing
Issue of ordinary share capital 149 127 161
Issue of shares to minorities 36 432 13
New loans 14,552 1,473 10
Repayment of loans (225) (587) (457)
Net increase (decrease) in short-term borrowings 5,223 4,514 (185)
Net cash inflow (outflow) from financing 19,735 5,959 (458)
Increase in cash in the year 128 54 67
Decrease (increase) in net debt in the year 17 (18,942) (6,582) 3,146
Group cash flow statement for the year ended 31 March 2001
80 BT Annual report and Form 20-F