Tesco 2013 Annual Report Download - page 80

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76 Tesco PLC Annual Report and Financial Statements 2013
Group cash flow statement
Year ended 23 February 2013 notes
52 weeks
2013
£m
52 weeks
2012
£m
Cash flows from operating activities
Cash generated from operations 29 3,873 5,688
Interest paid (457) (531)
Corporation tax paid (579) (749)
Net cash generated from operating activities 2,837 4,408
Cash flows from investing activities
Acquisition/disposal of subsidiaries, net of cash acquired/disposed (72) (65)
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 1,351 1,141
Purchase of property, plant and equipment, investment property and non-current assets
classified as held for sale (2,619) ( 3,374)
Purchase of intangible assets (368) (334)
Net (increase)/decrease in loans to joint ventures and associates (43) 122
Investments in joint ventures and associates (158) (49)
Net proceeds from sale of/(investments in) short-term and other investments 1,427 (767)
Dividends received from joint ventures and associates 51 40
Interest received 85 103
Net cash used in investing activities (278) (3,183)
Cash flows from financing activities
Proceeds from issue of ordinary share capital 27 57 69
Increase in borrowings 1,820 2,905
Repayment of borrowings (3,022) (2,720)
Repayment of obligations under finance leases (32) (45)
Purchase of non-controlling interests (4) (89)
Dividends paid to equity owners 8(1,184) (1,180)
Dividends paid to non-controlling interests –(3)
Own shares purchased –(303)
Net cash used in financing activities (2,365) (1,366)
Net increase/(decrease) in cash and cash equivalents 194 (141)
Cash and cash equivalents at beginning of the year 2,311 2,428
Effect of foreign exchange rate changes 26 24
Cash and cash equivalents including cash held in disposal group at the end of the year 2,531 2, 311
Cash held in disposal group 7(19) (6)
Cash and cash equivalents at the end of the year 18 2, 512 2,305
Reconciliation of net cash flow
to movement in net debt note
Year ended 23 February 2013 note
52 weeks
2013
£m
52 weeks
2012
£m
Net increase/(decrease) in cash and cash equivalents 194 (141)
Elimination of net (increase)/decrease in Tesco Bank cash and cash equivalents (475) 126
Investment in Tesco Bank (45) (112)
Debt acquired on acquisition (1) (98)
Net cash outflow to repay debt and lease financing 1,589 262
Dividend received from Tesco Bank 105 100
(Decrease)/increase in Retail short-term investments (721) 221
Increase/(decrease) in Retail joint venture loan receivables 36 (122)
Other non-cash movements (430) (330)
Elimination of other Tesco Bank non-cash movements (11) 46
Decrease/(increase) in net debt for the year 241 (48)
Opening net debt 30 (6,838) (6,790)
Closing net debt 30 (6,597) (6,838)
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 but forms part of the notes to the
financial statements.
The notes on pages 77 to 125 form part of these financial statements.