BT 2002 Annual Report Download - page 99

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16. Reconciliation of operating pro®t to operating cash ¯ows
2002
£m
As restated
2001
£m
As restated
2000
£m
Group operating pro®t (loss) (479) 27 3,572
Depreciation 3,680 3,045 2,752
Goodwill amortisation and impairment 2,321 3,386 89
Decrease (increase) in stocks 43 (67) (48)
Increase in debtors (545) (432) (1,175)
Increase in creditors 803 203 982
Decrease in provisions (485) (222) (295)
Other (81) (53) (28)
Net cash in¯ow from operating activities 5,257 5,887 5,849
Analysed as:
Continuing activities 5,023 5,410 5,609
Discontinued activities 234 477 240
Net cash in¯ow from operating activities 5,257 5,887 5,849
17. Management of liquid resources 2002
£m
2001
£m
2000
£m
Purchase of short-term investments and payments into short-term deposits over 3 months (7,601) (1,344) (3,178)
Sale of short-term investments and withdrawals from short-term deposits over 3 months 4,695 1,765 3,850
Net movement of short-term investments and short-term deposits under 3 months not
repayable on demand 1,042 (901) 564
Net cash in¯ow (out¯ow) from management of liquid resources (1,864) (480) 1,236
Movements in all short-term investments and deposits not repayable on demand are reported under the heading of
management of liquid resources.
18. Acquisitions and disposals
Acquisition of subsidiary companies
Year ended 31 March 2002
Esat Digifone
a
£m
Other
b
£m
Total
£m
Consideration:
Cash 869 27 896
Deferred ± 8 8
Total 869 35 904
Year ended 31 March 2001
Viag
Interkom
c
£m
Telfort
d
£m
Other
d
£m
Total
£m
Consideration:
Cash 8,770 1,207 160 10,137
Carrying value of joint venture wholly acquired 479 235 ± 714
Total 9,249 1,442 160 10,851
In addition cash of £1,179 million was paid in settlement of deferred consideration on acquisitions in earlier years.
Year ended 31 March 2000
Cellnet
Group
g
£m
Esat
h
£m
Yellow
Book (USA)
i
£m
Syntegra
(USA)
j
£m
Other
£m
Total
£m
Consideration:
Cash 3,014 179 401 213 327 4,134
Deferred ± 1,167 ± ± 45 1,212
Loan notes 2000/2009 159 ± ± ± ± 159
Other loan notes ± 174 14 ± 14 202
Carrying value of associate wholly acquired ± ± ± ± 23 23
Total 3,173 1,520 415 213 409 5,730
Notes to the financial statements
98 BT Group Annual Report and Form 20-F 2002