Telstra 2014 Annual Report Download - page 71

Telstra Corporation Limited and controlled entities
Telstra Annual Report 69
Financial Report
The notes following the financial statements form part of the financial report.
STATEMENT OF
CASH FLOWS
For the year ended 30 June 2014
Telstra Group
Year ended 30 June
2014 2013
Note $m $m
Cash flows from operating activities
Receipts from customers (inclusive of goods and services tax (GST)) .............................................................. 28,950 28,585
Payments to suppliers and to employees (inclusive of GST).............................................................................. (18,710) (18,803)
Government grants received................................................................................................................................. 147 77
Net cash generated by operations ....................................................................................................................... 10,387 9,859
Income taxes paid.................................................................................................................................................. (1,774) (1,500)
Net cash provided by operating activities.................................................................................................20(a) 8,613 8,359
Cash flows from investing activities
Payments for:
- property, plant and equipment .......................................................................................................................... (2,868) (2,818)
- intangible assets................................................................................................................................................. (894) (1,691)
Capital expenditure (before investments) ........................................................................................................... (3,762) (4,509)
- shares in controlled entities (net of cash acquired).................................................................................20(c) (165) (9)
- payments for joint ventures and associated entities............................................................................... 26(f) (3) (8)
- payments for other investments........................................................................................................................ (88) (19)
Total capital expenditure (including investments).............................................................................................. (4,018) (4,545)
Proceeds from:
- sale of property, plant and equipment .............................................................................................................. 94 57
- sale of intangible assets..................................................................................................................................... -12
- sale of shares in controlled entities (net of cash disposed) ....................................................................20(d) 2,397 693
- sale of businesses (net of cash disposed) ........................................................................................................ -4
Proceeds from finance lease principal amounts ................................................................................................ 98 64
Loans to joint ventures and associated entities ................................................................................................. -(1)
Interest received .................................................................................................................................................... 150 236
Settlement of hedges in net investments............................................................................................................ (21) (11)
Investments in financial instruments .................................................................................................................. 4-
Dividends received................................................................................................................................................. 11
Distributions received from Foxtel Partnership ................................................................................................ 6 165 155
Net cash used in investing activities ................................................................................................................. (1,130) (3,335)
Operating cash flows less investing cash flows ............................................................................................... 7,483 5,024
Cash flows from financing activities
Proceeds from borrowings .................................................................................................................................... 1,572 2,074
Repayment of borrowings ..................................................................................................................................... (1,387) (4,042)
Repayment of finance lease principal amounts ................................................................................................. (91) (97)
Proceeds from sale and finance lease back transactions ................................................................................. -52
Staff repayments of share loans .......................................................................................................................... 34
Purchase of shares for employee share plans .................................................................................................... (61) -
Proceeds received from exercise of equity instruments .................................................................................... 29 29
Finance costs paid................................................................................................................................................. (947) (1,037)
Issue of equity by controlled entities ...........................................................................................................20(c) 160 -
Payment for share buy-back of non-controlling interests.........................................................................20(c) (149) (1)
Proceeds from sale of controlled entity shares on behalf of non-controlling interests .................................. 8-
Dividends paid to equity holders of Telstra Entity............................................................................................. 4 (3,545) (3,480)
Dividends paid to non-controlling interests........................................................................................................ (22) (28)
Net cash used in financing activities ................................................................................................................. (4,430) (6,526)
Net increase/(decrease) in cash and cash equivalents................................................................................... 3,053 (1,502)
Cash and cash equivalents at the beginning of the year.................................................................................... 2,479 3,945
Effects of exchange rate changes on cash and cash equivalents ..................................................................... (5) 36
Cash and cash equivalents at the end of the year....................................................................................20(b) 5,527 2,479