BT 2012 Annual Report Download - page 105

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102 Financial statements
Consolidated financial statements
Group cash flow statement
2012 2011 2010
Year ended 31 March Note £m £m £m
Cash flow from operating activities
Profit before taxation2,4451,717 1,007
Loss (profit) on disposal of businesses andassociates 19 (42) 10
Share of profits of associates and joint ventures (10)(21)(54)
Net finance expense 484924 1,158
Other non-cash charges 106 78 77
Depreciation and amortisation2,972 2,9793,039
Decrease (increase)in inventories 12 (17) 14
Decreasein trade and other receivables 28 408524
Decreasein trade and other payables (65) (378)(708)
Decreasein provisions and other liabilitiesa(2,033) (873)(591)
Cash generated from operations3,9584,775 4,476
Income taxes paid (400) (209) (76)
Income tax repayment for prior years – – 425
Net cash inflow from operating activities 3,558 4,566 4,825
Cash flow from investing activities
Interest received 8 29 16
Dividends received from associates and joint ventures 473
Proceeds on disposal of interest in associates 7 72 –
Proceeds on disposal of businesses, net of bank overdrafts 13 – 2
Acquisition of subsidiaries, net of cash acquired (5) (8) (70)
Proceeds on disposal of current financial assetsb8,3299,267 8,739
Purchases of current financial assetsb(8,845)(8,902)(8,985)
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Purchases of non-current financial assets – (18) –
925181tnempiuqe dna tnalp ,ytreporp fo lasopsid no sd
eecorP
Purchases of property, plant and equipment and software (2,578)(2,645) (2,509)
Net cash outflow from investing activities (3,048) (2,183) (2,775)
Cash flow from financing activities
Equity dividends paid (590)(543)(265)
Interest paid (693) (973)(956)
Repayment of borrowingsc(26) (2,509)(307)
Repayment of finance lease liabilities (2) (11) (24)
Proceeds from finance leases – – 9
)796(96225repap laicremmoc )fo tnemyaper( morf sdeecorp teN
Proceeds from bank loans – 340522
Cash flows from derivatives related to net debt 258120 –
Proceeds on issue of treasury shares 2184
Net cash used in financing activities (510) (3,499) (1,714)
Effect of exchange rate changes on cash and cash equivalents (2) (3) (7)
Net (decrease) increase in cash and cash equivalents (2) (1,119)329
Cash and cash equivalents at 1 April325 1,4441,115
Cash and cash equivalents at 31 March 23 3233251,444
aIncludes pension deficit payments of £2,000m (2011: £1,030m, 2010: £525m).
bPrimarily consists of investment in and redemption of amounts held in liquidity funds.
cIn 2011 the repayment of borrowings included the impact of hedging.
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