Telstra 2010 Annual Report Download - page 21

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6
Telstra Corporation Limited and controlled entities
Full year results and operations review - June 2010
Statement of cashflows
(i) Cash and cash equivalents includes $169 million of cash and cash equivalents in assets classified as held for sale.
Year ended 30 June
2010 2009 Change Change
$m $m $m %
Cashflows from operating activities
Receipts from customers (inclusive of goods and services tax (GST)). . . . . 27,128 27,719 (591) (2.1%)
Payments to suppliers and to employees (inclusive of GST) . . . . . . . . . (16,218) (17,074) 856 (5.0%)
Net cash generated by operations . . . . . . . . . . . . . . . . . . . . . 10,910 10,645 265 2.5%
Income taxes paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,219) (1,647) 428 (26.0%)
Net cash provided by operating activities . . . . . . . . . . . . . . . 9,691 8,998 693 7.7%
Cashflows from investing activities
Payments for:
- property, plant and equipment . . . . . . . . . . . . . . . . . . . . . . (2,718) (3,263) 545 (16.7%)
- intangible assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . (877) (1,531) 654 (42.7%)
Capital expenditure (before investments) . . . . . . . . . . . . . . . . . (3,595) (4,794) 1,199 (25.0%)
- shares in controlled entities (net of cash acquired) . . . . . . . . . . . . (95) (240) 145 (60.4%)
- payments for other investments . . . . . . . . . . . . . . . . . . . . . -(1) 1 (100.0%)
Total capital expenditure . . . . . . . . . . . . . . . . . . . . . . . . (3,690) (5,035) 1,345 (26.7%)
Proceeds from:
- sale of property, plant and equipment . . . . . . . . . . . . . . . . . . 24 22 2 9.1%
- sale of intangible assets . . . . . . . . . . . . . . . . . . . . . . . . . 22--
- sale of shares in controlled entities (net of cash disposed) . . . . . . . . . 11 197 (186) (94.4%)
- sale of business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-1n/m
Proceeds from finance lease principal amounts . . . . . . . . . . . . . . . 66 55 11 20.0%
Loans to jointly controlled and associated entities. . . . . . . . . . . . . . -(4) 4 n/m
Interest received . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66 65 1 1.5%
Settlement of hedges in net investments . . . . . . . . . . . . . . . . . . (6) (35) 29 (82.9%)
Distributions received from FOXTEL Partnership . . . . . . . . . . . . . . 60 100 (40) (40.0%)
Net cash used in investing activities . . . . . . . . . . . . . . . . . . (3,466) (4,633) 1,167 (25.2%)
Operating cashflows less investing cashflows . . . . . . . . . . . . . 6,225 4,365 1,860 42.6%
Cashflows from financing activities
Proceeds from borrowings. . . . . . . . . . . . . . . . . . . . . . . . . 1,777 3,118 (1,341) (43.0%)
Repayment of borrowings . . . . . . . . . . . . . . . . . . . . . . . . . (2,676) (2,288) (388) 17.0%
Repayment of finance lease principal amounts . . . . . . . . . . . . . . . (55) (36) (19) 52.8%
Staff repayments of share loans . . . . . . . . . . . . . . . . . . . . . . 911 (2) (18.2%)
Finance costs paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,042) (1,221) 179 (14.7%)
Dividends paid to equity holders of Telstra Entity . . . . . . . . . . . . . . (3,474) (3,474) - -
Dividends paid to non-controlling interests . . . . . . . . . . . . . . . . . (20) (43) 23 (53.5%)
Net cash used in financing activities . . . . . . . . . . . . . . . . . . (5,481) (3,933) (1,548) 39.4%
Net increase/(decrease) in cash and cash equivalents . . . . . . . . 744 432 312 72.2%
Cash and cash equivalents at the beginning of the period . . . . . . . . . . 1,381 899 482 53.6%
Effects of exchange rate changes on cash and cash equivalents . . . . . . . (20) 50 (70) (140.0%)
Cash and cash equivalents at the end of the period (i). . . . . . . . . 2,105 1,381 724 52.4%