Ryanair 2016 Annual Report Download - page 149

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149
Consolidated Statement of Cash Flows
Year ended
Year ended
Year ended
March 31,
March 31,
March 31,
2016
2015
2014
€M
€M
€M
Operating activities
Profit after tax
1,559.1
866.7
522.8
Adjustments to reconcile profit after tax to net cash provided by
operating activities
Depreciation
427.3
377.7
351.8
Retirement costs
0.2
0.2
(1.2)
Tax expense on profit on ordinary activities
162.8
115.7
68.6
Share-based payments charge
5.9
0.5
1.9
(Increase)/decrease in inventories
(1.2)
0.4
0.2
(Increase) in trade receivables
(6.0)
(2.0)
(2.0)
(Increase) in other current assets
(11.2)
(12.3)
(56.6)
Increase in trade payables
34.1
46.5
11.7
Increase in accrued expenses
175.0
364.4
220.7
(Decrease) in other creditors
(23.3)
(34.6)
(37.4)
(Decrease)/increase in provisions
(31.8)
44.0
(2.7)
Gain on disposal of available for sale financial asset
(317.5)
—
—
Decrease/(increase) in finance income
1.4
(2.2)
0.1
(Decrease)/increase in finance expense
(1.0)
12.8
(0.9)
Income tax paid
(127.5)
(88.4)
(32.4)
Net cash provided by operating activities
1,846.3
1,689.4
1,044.6
Investing activities
Capital expenditure (purchase of property, plant and equipment)
(1,217.7)
(788.5)
(505.8)
Disposal of available for sale asset
398.1
—
—
(Increase)/decrease in restricted cash
(6.3)
6.6
11.4
Decrease/(increase) in financial assets: cash > 3 months
542.3
(2,106.3)
795.1
Net cash (used in)/provided by investing activities
(283.6)
(2,888.2)
300.7
Financing activities
Net proceeds from shares issued
0.8
14.4
16.4
Shareholder returns
(1,104.0)
(632.3)
(481.7)
Proceeds from long term borrowings
—
1,690.9
—
Repayments of long term borrowings
(384.9)
(419.7)
(390.8)
Net cash (used in)/provided by financing activities
(1,488.1)
653.3
(856.1)
Increase/(decrease) in cash and cash equivalents
74.6
(545.5)
489.2
Cash and cash equivalents at beginning of year
1,184.6
1,730.1
1,240.9
Cash and cash equivalents at end of year
1,259.2
1,184.6
1,730.1
The accompanying notes are an integral part of the financial information.