BT 2002 Annual Report Download - page 28

Download and view the complete annual report

Please find page 28 of the 2002 BT annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 160

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160

Cash ¯ow statement
Years ended 31 March
1998
£m
1999
£m
2000
£m
2001
£m
2002
£m
Net cash ¯ow from operating activities 6,071 6,035 5,849 5,887 5,257
Dividends from associates and joint ventures 5 2 5 10 2
Returns on investments and servicing of ®nance (160) (328) (163) (727) (1,695)
Taxation paid (1,886) (630) (1,311) (669) (562)
Capital expenditure and ®nancial investment (3,108) 1,046 (3,752) (8,442) (1,354)
Acquisitions and disposals (1,501) (1,967) (6,405) (13,754) 5,785
Equity dividends paid (3,473) (1,186) (1,364) (1,432) ±
Cash in¯ow (out¯ow) before management of liquid resources and
®nancing (4,052) 2,972 (7,141) (19,127) 7,433
Management of liquid resources 2,247 (2,447) 1,236 (480) (1,864)
Financing 1,794 (458) 5,959 19,735 (5,479)
Increase (decrease) in cash in the year (11) 67 54 128 90
Decrease (increase) in net debt in the year (3,860) 3,146 (6,582) (18,942) 13,930
Balance sheet
At 31 March
1998
£m
1999
£m
2000
£m
2001
£m
2002
£m
Intangible ®xed assets ± 742 5,777 18,380 252
Tangible ®xed assets 17,252 17,854 18,163 21,625 16,078
Fixed asset investments 1,708 1,832 5,878 5,204 1,221
Net current assets (liabilities) (2,637) (495) (7,115) (11,143) 732
Total assets less current liabilities 16,323 19,933 22,703 34,066 18,283
Loans and other borrowings falling due after one year (3,889) (3,386) (5,354) (18,775) (16,245)
Provisions for liabilities and charges (3,291) (3,286) (3,011) (2,738) (2,324)
Minority interests (223) (216) (498) (499) (72)
Total assets less liabilities 8,920 13,045 13,840 12,054 (358)
Called up share capital 7,374 7,438 7,485 7,573 434
Share premium account ± ± ± ± 2
Other reserves (4,103) (3,841) (3,345) (2,848) 1,025
Pro®t and loss account 5,649 9,448 9,700 7,329 (1,819)
Total equity shareholders' funds (de®ciency) 8,920 13,045 13,840 12,054 (358)
Total assets 23,285 27,962 37,588 54,799 27,673
US GAAP
Years ended 31 March
1998
£m
1999
£m
2000
£m
2001
£m
2002
£m
Group operating pro®t (loss) 3,243 3,356 2,990 (633) (337)
Income (loss) before taxes 2,791 3,745 2,096 (1,959) 1,025
Net income (loss):
Continuing activities 1,201 2,562 1,559 809 (1,680)
Discontinued activities 246 27 (166) (3,166) 948
1,447 2,589 1,393 (2,357) (732)
Average number of ADSs used in basic earnings per ADS (millions) 712 718 724 728 831
Basic earnings (loss) per ordinary share 20.3p 36.0p 19.3p (32.4)p (8.8)p
Diluted earnings (loss) per ordinary share 20.0p 35.2p 18.8p (32.4)p (8.8)p
Basic earnings (loss) per ordinary share from continuing activities 16.9p 35.7p 21.5p 11.1p (20.2)p
Diluted earnings (loss) per ordinary share from continuing activities 16.6p 34.9p 21.1p 11.0p (20.2)p
Basic earnings (loss) per ordinary share from discontinued activities 3.4p 0.3p (2.2)p (43.5)p 11.4p
Diluted earnings (loss) per ordinary share from discontinued activities 3.4p 0.3p (2.3)p (43.5)p 11.3p
Basic earnings (loss) per ADS £2.03 £3.60 £1.93 £(3.24) £(0.88)
Diluted earnings (loss) per ADS £2.00 £3.52 £1.88 £(3.24) £(0.88)
Total assets as at 31 March 27,951 29,323 38,481 55,361 30,428
Ordinary shareholders' equity as at 31 March 12,615 13,674 13,634 10,231 (4,247)
Five-year financial summary
BT Group Annual Report and Form 20-F 2002 27