Marks and Spencer 2016 Annual Report Download - page 91

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89
ANNUAL REPORT AND FINANCIAL STATEMENTS 2016
OUR BUSINESSOUR PERFORMANCEGOVERNANCEFINANCIAL STATEMENTS
CONSOLIDATED STATEMENT OF CASH FLOWS
Notes
53 weeks ended
2 April 2016
£m
52 weeks ended
28 March 2015
£m
Cash fl ows from operating activities
Cash generated from operations 27 1,311.3 1,349.1
Income tax paid (99.3) (71.1)
Net cash infl ow from operating activities 1,212.0 1,278.0
Cash fl ows from investing activities
Proceeds on property disposals 30.6 35.4
Purchase of property, plant and equipment (363.3) (521.8)
Purchase of intangible assets (186.8) (178.0)
(Purchase)/reduction of current fi nancial assets (7.2) 6.0
Interest received 6.8 9.3
Acquisition of subsidiary 25 (56.2) –
Net cash used in investing activities (576.1) (649.1)
Cash fl ows from fi nancing activities
Interest paid¹ (113.5) (115.3)
Cash infl ow/(outfl ow) from borrowings 3.1 (165.7)
Repayment of syndicated loan notes (19.9) (10.2)
Decrease in obligations under fi nance leases (2.4) (4.8)
Payment of liability to the Marks & Spencer UK Pension Scheme (56.0) (54.4)
Equity dividends paid (301.7) (280.7)
Shares issued on exercise of employee share options 20.6 40.8
Purchase of own shares held by employee trust (10.9) (24.2)
Share buyback (150.7) –
Ne t c ash us ed in fi nancing activities (631.4) (614.5)
Net cash infl ow from activities 4.5 14.4
E ects of exchange rate changes 3.7 (2.3)
Opening net cash 187.8 175 .7
Closing net cash 28 196.0 187.8
1. Includes interest on the partnership liability to the Marks & Spencer UK Pension Scheme.
Notes
53 weeks ended
2 April 2016
£m
52 weeks ended
28 March 2015
£m
Re co nci lia tio n of net cas h fl ow to moveme n t in net de b t
Opening net debt (2,223.2) (2,463.6)
Net cash infl ow from activities 4.5 14.4
Increase/(decrease) in current fi nancial assets 7.2 (6.0)
Decrease in debt fi nancing 75.2 235.1
Exchange and other non-cash movements (2.0) (3.1)
Movement in net debt 84.9 240.4
Closing net debt 28 (2,138.3) (2,223.2)