Marks and Spencer 2010 Annual Report Download - page 85

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Directors’ report p01
Financial statements
Other information p117
To find out more, visit www.marksandspencer.com/annualreport2010 81
Consolidated cash flow
information
Notes
53 weeks
ended
3 April
2010
£m
52 weeks
ended
28 March
2009
£m
Consolidated statement of cash flows
Cash flows from operating activities
Cash generated from operations 28 1,349.7 1,371.9
Tax paid (120.7) (81.3)
Net cash inflow from operating activities 1,229.0 1,290.6
Cash flows from investing activities
Acquisition of subsidiaries, net of cash acquired (5.4) –
Purchase of property, plant and equipment (352.0) (540.8)
Proceeds from sale of property, plant and equipment 20.9 58.3
Purchase of intangible assets (77.5) (121.6)
Purchase of non-current financial assets –(4.4)
Purchase of current financial assets (118.3) (1.1)
Interest received 2.7 12.7
Net cash outflow from investing activities (529.6) (596.9)
Cash flows from financing activities
Interest paid (163.4) (197.1)
Cash inflow/(outflow) from borrowings 30.7 (25.8)
(Repayment)/drawdown of syndicated bank facility (529.4) 108.1
Issue of medium-term notes 397.2 –
Redemption of medium-term notes (200.4) –
Payment of liability to the Marks & Spencer UK Pension Scheme (68.0) (15.1)
Decrease in obligations under finance leases (17.0) (1.0)
Equity dividends paid (236.0) (354.6)
Shares issued on exercise of employee share options 12.4 5.3
Shares purchased in buy back –(40.9)
Purchase of own shares by employee trust (19.0) –
Net cash outflow from financing activities (792.9) (521.1)
Net cash (outflow)/inflow from activities (93.5) 172.6
Effects of exchange rate changes (2.1) 7.8
Opening net cash 298.3 117.9
Closing net cash 29 202.7 298.3
Notes
53 weeks
ended
3 April
2010
£m
52 weeks
ended
28 March
2009
£m
Reconciliation of net cash flow to movement in net debt
Opening net debt (2,490.8) (3,077.7)
Net cash (outflow)/inflow from activities (93.5) 172.6
Increase in current financial assets 118.3 1.1
Decrease/(increase) in debt financing 386.9 (66.2)
Partnership liability to the Marks & Spencer UK Pension Scheme (non-cash) –539.6
Exchange and other non-cash movements 10.7 (60.2)
Movement in net debt 422.4 586.9
Closing net debt 29 (2,068.4) (2,490.8)