Tesco 2000 Annual Report Download - page 23

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TESCO PLC
21
group cash flow statement
52 weeks ended 26 February 2000
2000 1999
note £m £m
Net cash inflow from operating activities 31 1,513 1,321
Returns on investments and servicing of finance
Interest received 58 34
Interest paid (188) (162)
Interest element of finance lease rental payments (1) (1)
Net cash outflow from returns on investments and servicing of finance (131) (129)
Taxation
Corporation tax paid (including advance corporation tax) (213) (237)
Capital expenditure and financial investment
Payments to acquire tangible fixed assets (1,296) (1,032)
Receipts from sale of tangible fixed assets 85 27
Purchase of own shares (18) –
Net cash outflow for capital expenditure and financial investment (1,229) (1,005)
Acquisitions and disposals
Purchase of subsidiary undertakings 32 (61) (184)
Disposal of subsidiary undertaking – (4)
Net cash acquired with subsidiary undertaking – 2
Received from/(invested in) joint ventures 30 62 (69)
Net cash inflow/(outflow) from acquisitions and disposals 1 (255)
Equity dividends paid (262) (238)
Cash outflow before use of liquid resources and financing (321) (543)
Management of liquid resources
Increase in short-term deposits (68) (7)
Financing
Ordinary shares issued for cash 20 42
Increase in other loans 322 719
New finance leases 29 –
Capital element of finance leases repaid (20) (15)
Net cash inflow from financing 351 746
(Decrease)/increase in cash in the period (38) 196
Reconciliation of net cash flow to movement in net debt
(Decrease)/increase in cash in the period (38) 196
Cash inflow from increase in debt and lease financing (331) (704)
Loans acquired with subsidiary undertaking – (19)
Cash used to increase liquid resources 68 7
Amortisation of 4% unsecured deep discount loan stock (4) (3)
Other non-cash movements (30) –
Foreign exchange differences (5) (6)
Increase in net debt (340) (529)
Net debt at 27 February 1999 33 (1,720) (1,191)
Net debt at 26 February 2000 33 (2,060) (1,720)
Accounting policies and notes forming part of these financial statements are on pages 22 to 39.