Marks and Spencer 2012 Annual Report Download - page 79

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Financial statements Marks and Spencer Group plc Annual report and financial statements 2012 77
Overview Strategic review Financial review Governance Financial statements and other information
Consolidated cash flow information
Notes
52 weeks ended
31 March 2012
£m
52 weeks ended
2 April 2011
£m
Consolidated statement of cash flows
Cash flows from operating activities
Cash generated from operations 26 1,352.1 1,385.2
Income tax paid (149.1) (185.3)
Net cash generated from operating activities 1,203.0 1,199.9
Cash flows from investing activities
Purchase of property, plant and equipment (564.3) (327.3)
Proceeds from sale of property, plant and equipment –3.5
Purchase of intangible assets (156.4) (126.5)
Purchase of current financial assets (44.8) (44.3)
Interest received 7.7 4.1
Net cash used in investing activities (757.8) (490.5)
Cash flows from financing activities
Interest paid (135.9) (146.4)
Cash (outflow)/inflow from borrowings (41.4) 18.4
Repayment of syndicated bank facility –(217.5)
Issue of medium-term notes 295.5 –
Redemption of medium-term notes (307.6) –
Monetisation of derivative assets –32.8
Decrease in obligations under finance leases (13.0) (15.7)
Payment of liability to the Marks & Spencer UK Pension Scheme (71.9) (67.9)
Equity dividends paid (267.8) (247.5)
Shares issued on exercise of employee share options 44.3 8.4
Purchase of own shares by employee trust (13.2) (12.0)
Net cash used in financing activities (511.0) (647.4)
Net cash (outflow)/inflow from activities (65.8) 62.0
Effects of exchange rate changes (1.9) (1.2)
Opening net cash 263.5 202.7
Closing net cash 27 195.8 263.5
Notes
52 weeks ended
31 March 2012
£m
52 weeks ended
2 April 2011
£m
Reconciliation of net cash flow to movement in net debt
Opening net debt (1,900.9) (2,068.4)
Net cash (outflow)/inflow from activities (65.8) 62.0
Increase in current financial assets 44.8 44.3
Decrease in debt financing 138.4 249.9
Partnership liability to the Marks & Spencer UK Pension Scheme (non-cash) (71.9) (71.9)
Exchange and other non-cash movements (1.7) (116.8)
Movement in net debt 43.8 167.5
Closing net debt 27 (1,857.1) (1,900.9)