BT 2002 Annual Report Download - page 80

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Notes
2002
£m
2001
£m
2000
£m
Net cash in¯ow from operating activities 16 5,257 5,887 5,849
Dividends from associates and joint ventures 2 10 5
Returns on investments and servicing of ®nance
Interest received 309 293 286
Interest paid, including ®nance costs (2,004) (1,020) (449)
Net cash out¯ow for returns on investments and servicing of ®nance (1,695) (727) (163)
Taxation
UK corporation tax paid (557) (669) (1,308)
Non-UK tax paid (5) ± (3)
Taxation paid (562) (669) (1,311)
Capital expenditure and ®nancial investment
Purchase of intangible ®xed assets ±(4,208) ±
Purchase of tangible ®xed assets (4,069) (4,756) (3,568)
Sale of tangible ®xed assets 2,645 440 143
Purchase of ®xed asset investments (37) (93) (373)
Disposal of ®xed asset investments 107 175 46
Net cash out¯ow for capital expenditure and ®nancial investment (1,354) (8,442) (3,752)
Acquisitions and disposals
Purchase of subsidiary undertakings, net of £nil cash acquired
(2001 ± £101m, 2000 ± £69m) (896) (11,215) (4,065)
Investments in joint ventures (235) (3,214) (933)
Investments in associates ±(72) (2,167)
Repayment of loans to joint ventures ±± 550
Disposal of subsidiary undertakings, net of £28m cash disposed
(2001 ± £nil, 2000 ± £8m) 1,959 245 206
Sale of investments in joint ventures and associates 4,957 502 4
Net cash in¯ow (out¯ow) for acquisitions and disposals 5,785 (13,754) (6,405)
Equity dividends paid ± (1,432) (1,364)
Cash in¯ow (out¯ow) before management of liquid resources and ®nancing 7,433 (19,127) (7,141)
Management of liquid resources 17 (1,864) (480) 1,236
Financing
Issue of ordinary share capital 6,057 149 127
Issue of shares to minorities ±36 432
In¯ow on demerger of mmO2 19 440 ± ±
New loans 30 14,552 1,473
Repayment of loans (1,851) (225) (587)
Net increase (decrease) in short-term borrowings (10,155) 5,223 4,514
Net cash in¯ow (out¯ow) from ®nancing (5,479) 19,735 5,959
Increase in cash in the year 90 128 54
Decrease (increase) in net debt in the year 19 13,930 (18,942) (6,582)
Group cash flow statement
for the year ended 31 March 2002
BT Group Annual Report and Form 20-F 2002 79