Barclays 2003 Annual Report Download - page 167
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Barclays PLC Annual Report 2003 165
47 Legal proceedings
Proceedings have been brought in the US against a number of defendants including Barclays following the collapse of Enron. In each case the claims
are against groups of defendants and it is not possible to estimate Barclays possible loss, if any, in relation to them. Barclays considers that the claims
against it are without merit and is defending them vigorously. A court ordered mediation commenced in September 2003 but no material progress
has been made towards a resolution of the litigation.
Barclays is engaged in various other litigation proceedings both in the UK and a number of overseas jurisdictions, including the US, involving claims
by and against it, which arise in the ordinary course of business.
Barclays does not expect the ultimate resolution of any of the proceedings to which Barclays is party to have a significant adverse effect on the
financial position or profitability of the Group.
48 Reconciliation of operating profit to net cash flow from operating activities
2003 2002 2001
£m £m £m
Operating profit 3,812 3,218 3,438
Provisions for bad and doubtful debts 1,347 1,484 1,149
Depreciation and amortisation 554 545 528
Net (decrease)/increase in accrued expenditure and prepayments (216) (90) 114
Provisions for contingent liabilities and commitments (1) 11
Other provisions for liabilities and charges 241 203 194
Interest on dated and undated loan capital 684 645 602
Decrease/(increase) in shareholders’ interest in the long-term assurance fund 42 55 (164)
Net (increase)/decrease in accrued interest and deferred income (170) (402) 76
Net profit on disposal of investments and fixed assets (84) (47) (83)
Other non-cash movements 110 85 23
6,319 5,697 5,878
Net change in items in course of collection 199 (25) 439
Net increase in other credit balances 12,139 13,105 4,717
Net increase in loans and advances to banks and customers (26,294) (35,997) (30,695)
Net increase in deposits and debt securities in issue 16,429 33,485 33,173
Net increase in other assets (2,886) (387) (2,523)
Net increase in debt securities and equity shares (8,831) (8,812) (5,949)
Net (increase)/decrease in treasury and other eligible bills 579 (260) (1,901)
Other non-cash movements 56 (59) 53
Net cash (outflow)/inflow from operating activities (2,290) 6,747 3,192