Tesco 2010 Annual Report Download - page 76

Download and view the complete annual report

Please find page 76 of the 2010 Tesco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 136

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136

Group cash flow statement
52 weeks 53 weeks
2010 2009
Year ended 27 February 2010 notes £m £m
Cash flows from operating activities
Cash generated from operations 31 5,947 4,978
Interest paid (690) (562)
Corporation tax paid (512) (456)
Net cash from operating activities 4,745 3,960
Cash flows from investing activities
Acquisition of subsidiaries, net of cash acquired (65) (1,275)
Proceeds from sale of property, plant and equipment 1,820 994
Purchase of property, plant and equipment and investment property (2,855) (4,487)
Proceeds from sale of intangible assets 4 –
Purchase of intangible assets (163) (220)
Increase in loans to joint ventures (45) (242)
Investments in joint ventures and associates (4) (30)
Investments in short-term and other investments (1,918) (1,233)
Proceeds from sale of short-term investments 1,233 360
Dividends received 35 69
Interest received 81 90
Net cash used in investing activities (1,877) (5,974)
Cash flows from financing activities
Proceeds from issue of ordinary share capital 167 130
Increase in borrowings 862 7,387
Repayment of borrowings (3,601) (2,733)
Repayment of obligations under finance leases (41) (18)
Dividends paid (968) (883)
Dividends paid to minority interests (2) (3)
Own shares purchased (24) (265)
Net cash from financing activities (3,607) 3,615
Net (decrease)/increase in cash and cash equivalents (739) 1,601
Cash and cash equivalents at beginning of year 3,509 1,788
Effect of foreign exchange rate changes 49 120
Cash and cash equivalents at end of year 19 2,819 3,509
Reconciliation of net cash flow to movement in net debt note
52 weeks 53 weeks
2010 2009
Year ended 27 February 2010 note £m £m
Net (decrease)/increase in cash and cash equivalents (739) 1,601
Investment in Tesco Bank (230) –
Elimination of net increase in Tesco bank cash and cash equivalents (167) (37)
Debt acquired on acquisition of Homever – (611)
Transfer of joint venture loan receivable on acquisition of Tesco Bank – (91)
Net cash inflow/(outflow) from debt and lease financing 2,780 (4,636)
Dividend received from Tesco Bank 150 –
Increase in short-term investments 81 873
Increase in joint venture loan receivables 45 242
Other non-cash movements (249) (759)
Decrease/(increase) in net debt in the year 1,671 (3,418)
Opening net debt 32 (9,600) (6,182)
Closing net debt 32 (7,929) (9,600)
NB. The reconciliation of net cash flow to movement in net debt note is not a primary statement and does not form part of the cash flow statement and forms part of the notes to the
financial statements.
74 Tesco PLC Annual Report and Financial Statements 2010