Ryanair 2008 Annual Report Download - page 43

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43
Consolidated Cash Flow Statement
Year ended
March 31,
2008
Year ended
March 31,
2007
1000 1000
Operating activities
Profit before tax.............................................................................................. 438,927 451,037
Adjustments to reconcile profits before tax
to net cash provided by operating activities
Depreciation ................................................................................................... 175,949 143,503
Decrease in inventories...................................................................................
423 1,002
(Increase)/decrease in trade receivables.......................................................... (10,766) 6,497
(Increase) in other current assets .................................................................... (35,899) (51,386)
Increase in trade payables............................................................................... 2,046 27,039
Increase in accrued expenses .......................................................................... 80,629 233,839
(Decrease)/increase in other creditors............................................................. (5,267) 75,351
Increase in maintenance provisions ................................................................ 14,071 11,997
(Gain) on disposal of property, plant and equipment...................................... (12,153) (91)
Loss on available for sale financial asset ...................................................... 91,569 -
(Increase)/decrease in interest receivable ....................................................... (985) 48
Increase in interest payable............................................................................. 1,235 2,671
Retirement costs ............................................................................................. 431 589
Share based payments..................................................................................... 10,925 3,935
Income tax (paid)............................................................................................ (47,234) (5,194)
Net cash provided by operating activities................................................... 703,901 900,837
Investing activities
Capital expenditure (purchase of property, plant and equipment) .................. (937,115) (525,956)
Proceeds from sale of property, plant and equipment..................................... 150,042 495
Purchase of equities classified as available for sale........................................
(58,114) (344,917)
Net (investment) in restricted cash ................................................................. (33,623) (54,768)
Net reduction/(investment) in financial assets: cash > 3 months .................... 186,500 (263,847)
Net cash used in investing activities ............................................................ (692,310) (1,188,993)
Financing activities
Shares purchased under share buy back programme ...................................... (299,994) -
Net proceeds from shares issued..................................................................... 8,403 11,233
Proceeds from long term borrowings.............................................................. 646,392 339,409
Repayments of long term borrowings............................................................. (241,962) (155,071)
Net cash provided by financing activities .................................................. 112,839 195,571
Increase/(decrease) in cash and cash equivalents....................................... 124,430 (92,585)
Cash and cash equivalents at beginning of year.............................................. 1,346,419 1,439,004
Cash and cash equivalents at end of year .................................................. 1,470,849 1,346,419
The accompanying notes are an integral part of the financial information.