Tesco 2014 Annual Report Download - page 76

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Year ended 22 February 2014 Notes
52 weeks
2014
£m
52 weeks
2013
£m
Cash flows from operating activities
Cash generated from operations 29 4, 316 3,873
Interest paid (496) (457)
Corporation tax paid (635) (579)
Net cash generated from operating activities 3,185 2,837
Cash flows from investing activities
Acquisition/disposal of subsidiaries, net of cash acquired/disposed (13) (72)
Proceeds from sale of joint ventures and associates –68
Proceeds from sale of property, plant and equipment, investment property and non-current assets
classified as held for sale 568 1, 351
Purchase of property, plant and equipment, investment property and non-current assets
classified as held for sale (2,489) (2,619)
Proceeds from sale of intangible assets 2–
Purchase of intangible assets (392) (368)
Net decrease/(increase) in loans to joint ventures 61 (43)
Investments in joint ventures and associates (12) (158)
Net (investments in)/proceeds from sale of short-term investments (494) 721
Net (investments in)/proceeds from sale of other investments (268) 706
Dividends received from joint ventures and associates 62 51
Interest received 121 85
Net cash used in investing activities (2,854) (278)
Cash flows from financing activities
Proceeds from issue of ordinary share capital 27 62 57
Increase in borrowings 3,104 1,820
Repayment of borrowings (1,912) (3,022)
Repayment of obligations under finance leases (9) (32)
Purchase of non-controlling interests –(4)
Dividends paid to equity owners 8(1,189) (1,184)
Net cash from/(used in) financing activities 56 (2,365)
Net increase in cash and cash equivalents 387 194
Cash and cash equivalents at beginning of the year 2, 531 2,311
Effect of foreign exchange rate changes (105) 26
Cash and cash equivalents including cash held in disposal group at the end of the year 2,813 2, 531
Cash held in disposal group 7(307) (19)
Cash and cash equivalents at the end of the year 18 2,506 2, 512
Reconciliation of net cash flow
to movement in net debt note
Year ended 22 February 2014 Notes
52 weeks
2014
£m
52 weeks
2013
£m
Net increase in cash and cash equivalents 387 194
Elimination of net decrease/(increase) in Tesco Bank cash and cash equivalents 570 (475)
Investment in Tesco Bank –(45)
Debt acquired on acquisition –(1)
Net cash (inflow)/outflow from Retail debt and lease financing (914) 1,589
Dividend received from Tesco Bank 100 105
Increase/(decrease) in Retail short-term investments 494 (721)
(Decrease)/increase in Retail joint venture loan receivables (54) 36
Other non-cash movements (412) (430)
Elimination of other Tesco Bank non-cash movements (171) (11)
Decrease in net debt for the year –241
Opening net debt 30 (6,597) (6,838)
Closing net debt 30 (6,597) (6,597)
NB. The reconciliation of net cash flow to movement in net debt is not a primary statement and does not form part of the cash flow statement but forms part of the notes to
the financial statements.
The notes on pages 74 to 121 form part of these financial statements.
Other information
Governance Financial statementsStrategic report
Tesco PLC Annual Report and Financial Statements 2014 73
Group cash flow statement