Marks and Spencer 2001 Annual Report Download - page 41

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28. Analysis of cash flows given in the cash flow statement (continued) The Group
2001 2000
£m £m
E Acquisitions and disposals
Closure of Canadian operations (0.9) (15.4)
Sale of Splendour.com Ltd (0.8) –
Repayment of loan by joint venture 7.6 0.5
Acquisition of minority interest –(6.2)
Cash inflow/(outflow) for acquisitions and disposals 5.9 (21.1)
F Management of liquid resources
Decrease in cash deposits treated as liquid resources 135.5 18.4
Net purchase of government securities (67.5) (5.0)
Net purchase of listed investments (0.3) (12.9)
Net sale of unlisted investments 2.0 31.0
Net decrease/(increase) in short-term deposits 194.0 (194.0)
Cash inflow/(outflow) from decrease/(increase) in liquid resources 263.7 (162.5)
G Financing
Increase in bank loans, overdrafts and commercial paper treated as financing 76.0 2.3
(Redemption)/issue of medium term notes (310.8) 254.3
Decrease in other creditors treated as financing (11.1) (5.7)
Debt financing as shown in analysis of net debt (see note 29) (245.9) 250.9
Purchase of own shares (20.3) –
Shares issued under employees’ share schemes 0.8 9.4
Net cash (outflow)/inflow from (decrease)/increase in financing (265.4) 260.3
29. Analysis of net debt At 1 April Exchange At 31 March
2000 Cash flow movement 2001
£m £m £m £m
Net cash:
Cash at bank and in hand (see note 18C) 301.1 (149.2) 2.5 154.4
Less: deposits treated as liquid resources (see below) (160.1) 135.5 (0.4) (25.0)
141.0 (13.7) 2.1 129.4
Bank loans, overdrafts and commercial paper (see note 21B) (469.0) (50.5) (15.3) (534.8)
Less: amounts treated as financing (see below) 382.0 76.0 13.7 471.7
(87.0) 25.5 (1.6) (63.1)
Net cash per cash flow statement 54.0 11.8 0.5 66.3
Liquid resources:
Deposits included in cash (see above) 160.1 (135.5) 0.4 25.0
Current asset investments (see note 16) 386.4 (128.2) 1.8 260.0
Liquid resources per cash flow statement and note 28F 546.5 (263.7) 2.2 285.0
Debt financing:
Bank loans, overdrafts and commercial paper treated as financing (see above) (382.0) (76.0) (13.7) (471.7)
Medium term notes (see note 21B) (1,386.5) 310.8 (9.4) (1,085.1)
Other creditors (see note 21B) (83.4) 11.1 – (72.3)
Debt financing (see note 28G) (1,851.9) 245.9 (23.1) (1,629.1)
Net debt (1,251.4) (6.0) (20.4) (1,277.8)
www.marksandspencer.com 41