Marks and Spencer 2006 Annual Report Download - page 91

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89Marks and Spencer Group plc
29 ANALYSIS OF CASH FLOWS GIVEN IN THE CASH FLOW STATEMENT continued
52 weeks 52 weeks
ended ended
1 April 2006 2 April 2005
£m £m
E Other equity financing
Shares issued under employee share schemes 61.8 68.4
Redemption of B shares –(19.2)
Net (purchase)/sale of own shares held in employee trusts (6.0) 0.6
Purchase of own shares –(2,300.0)
Tender Offer expenses –(14.9)
55.8 (2,265.1)
F Exceptional operating cash flows
UK restructuring costs (7.0) (27.0)
Closure of Lifestore (6.7) (3.1)
Defence costs (0.2) (36.2)
Board restructure –(7.7)
Head office relocation –(12.6)
Restructuring of general merchandise logistics operations –(0.7)
Closure of European operations (0.7) 12.7
(14.6) (74.6)
Additions to property, plant and equipment during the year amounting to £1.3m were financed by new finance leases.
30 ANALYSIS OF NET DEBT
A Reconciliation of movement in net debt Adoption Exchange
At 3 April of IAS 32 and other At 1 April
2005 and IAS 39 Cash flow movements 2006
£m £m £m £m £m
Net cash:
Bank loans (see note 21) (212.9) – 122.9 – (90.0)
Less: amounts treated as financing (see below) 149.6 – (144.6) – 5.0
(63.3) – (21.7) – (85.0)
Cash and cash equivalents (see note 19) 212.6 – 153.2 1.6 367.4
Net cash per cash flow statement 149.3 – 131.5 1.6 282.4
Available for sale investments (see note 17) 67.0 – (1.0) 1.7 67.7
Debt financing:
Bank loans, overdrafts and commercial paper treated as financing (see above) (149.6) – 144.6 – (5.0)
Syndicated bank facility (see note 21) (200.0) – 200.0 – –
Medium term notes (see note 21) (1,646.9) (63.8) 58.3 (4.3) (1,656.7)
Securitised loan notes (see note 21) (313.6) – 3.1 (0.3) (310.8)
Finance lease liabilities (see note 21) (53.9) – 3.0 (1.3) (52.2)
Non-equity B shares (see note 21) – (65.7) 11.0 – (54.7)
Debt financing (2,364.0) (129.5) 420.0 (5.9) (2,079.4)
Net debt (2,147.7) (129.5) 550.5 (2.6) (1,729.3)