Marks and Spencer 2013 Annual Report Download - page 83

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Financial statements Marks and Spencer Group plc Annual report and financial statements 2013 81
Overview Strategic review Financial review Governance Financial statements and other information
Consolidated cash flow information
Notes
52 weeks ended
30 March 2013
£m
52 weeks ended
31 March 2012
£m
Cash flows from operating activities
Cash generated from operations 26 1,246.2 1,352.1
Income tax paid (106.0) (149.1)
Net cash generated from operating activities 1,140.2 1,203.0
Cash flows from investing activities
Purchase of property, plant and equipment (642.6) (564.3)
Purchase of intangible assets (187.1) (156.4)
Sale/(purchase) of current financial assets 243.4 (44.8)
Interest received 5.9 7.7
Net cash used in investing activities (580.4) (757.8)
Cash flows from financing activities
Interest paid (135.2) (135.9)
Cash inflow/(outflow) from borrowings 0.5 (41.4)
Drawdown of syndicated loan notes 81.0 –
Issue of medium-term notes 395.6 295.5
Redemption of medium-term notes (606.4) (307.6)
Decrease in obligations under finance leases (11.0) (13.0)
Payment of liability to the Marks & Spencer UK Pension Scheme (71.9) (71.9)
Equity dividends paid (271.3) (267.8)
Shares issued on exercise of employee share options 22.9 44.3
Purchase of own shares by employee trust –(13.2)
Net cash used in financing activities (595.8) (511.0)
Net cash outflow from activities (36.0) (65.8)
Effects of exchange rate changes 0.9 (1.9)
Opening net cash 195.8 263.5
Closing net cash 27 160.7 195.8
Notes
52 weeks ended
30 March 2013
£m
52 weeks ended
31 March 2012
£m
Reconciliation of net cash flow to movement in net debt
Opening net debt (1,857.1) (1,900.9)
Net cash outflow from activities (36.0) (65.8)
(Decrease)/increase in current financial assets (243.4) 44.8
Decrease in debt financing 132.7 138.4
Partnership liability to the Marks & Spencer UK Pension Scheme (non-cash) (606.0) (71.9)
Exchange and other non-cash movements (4.5) (1.7)
Movement in net debt (757.2) 43.8
Closing net debt 27 (2,614.3) (1,857.1)