Telstra 2003 Annual Report Download - page 50

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P.48
concise financial report continued
statement of cash flows for the year ended 30 June 2003 Telstra Group
Year ended 30 June
2003 2002
$m $m
Cash flows from operating activities
Receipts from trade and other receivables (inclusive of goods and services tax (GST)) 22,511 22,291
Payments of accounts payable and to employees (inclusive of GST) (11,920) (11,837)
Interest received 70 52
Borrowing costs paid (999) (897)
Dividends received 710
Income taxes paid (1,536) (1,503)
GST remitted to the Australian Taxation Office (ATO) (1,076) (1,018)
Net cash provided by operating activities 7,057 7,098
Cash flows from investing activities
Payments for:
– property, plant and equipment (2,704) (2,958)
– internal use software assets (555) (527)
– patents, trademarks and licences (2) –
– deferred expenditure –(6)
Capital expenditure (before investments) (3,261) (3,491)
– shares in controlled entities (25) (50)
– investment in joint venture and associated entities (45) (107)
– shares in listed securities and other investments (1) (14)
Investment expenditure (71) (171)
Total capital expenditure (3,332) (3,662)
Proceeds from:
– sale of property, plant and equipment 797 194
– sale of patents, trademarks and licences –1
– sale of shares in controlled entities 12 –
– sale of joint venture entities and operations 3–
– sale of associated entities 17 –
– sale of listed securities and other investments 7176
– sale of business 433
Net cash used in investing activities (2,492) (3,258)
Cash flows from financing activities
Proceeds from:
– borrowings 5,914 13,487
– Telstra bonds –987
Repayment of:
– borrowings (6,315) (15,441)
– Telstra bonds (582) (41)
– finance leases principal amount (22) (18)
Employee share loans (net) 33 40
Dividends paid (3,345) (2,831)
Net cash used in financing activities (4,317) (3,817)
Net increase in cash 248 23
Foreign currency conversion (18) (20)
Cash at the beginning of the year 1,070 1,067
Cash at the end of the year 1,300 1,070
The above statement of cash flows should be read in conjunction with the accompanying notes and discussion and analysis. The financial statements and specific disclosures have been derived from
the financial report contained in the “Annual Report 2003”. This concise financial report cannot be expected to provide as full an understanding of the financial performance, financial position and
financing and investing activities of Telstra as the financial report.Further financial information can be obtained from the “Annual Report 2003” which is available, free of charge,upon request to Telstra.