Group cash flow statement

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  Notes 52 weeks
2019
£m
52 weeks
2018
(restated*)
£m
Cash flows generated from/(used in) operating activities      
Operating profit/(loss) of continuing operations   2,153 1,839
Depreciation and amortisation   1,375 1,295
(Profit)/loss arising on sale of property, plant and equipment and intangible assets   (107) (66)
(Profit)/loss arising on sale of subsidiaries and financial assets at fair value through other comprehensive income   (8) (165)
(Profit)/loss arising on sale of joint ventures and associates   (23)
Net impairment loss/(reversal) on financial assets at fair value through other comprehensive income   (22)
Net impairment loss/(reversal) on property, plant and equipment, intangible assets and investment property   (58) (167)
Adjustment for non-cash element of pensions charge 27 45 4
Additional contribution into defined benefit pension schemes 27 (266) (245)
Share-based payments   77 113
Tesco Bank fair value movements included in operating profit/(loss)   127 156
Retail (increase)/decrease in inventories   11 55
Retail (increase)/decrease in development stock   (2) 21
Retail (increase)/decrease in trade and other receivables   98 (8)
Retail increase/(decrease) in trade and other payables   (307) 280
Retail increase/(decrease) in provisions   (238) 132
Retail (increase)/decrease in working capital   (438) 480
Tesco Bank (increase)/decrease in loans and advances to customers and banks   (1,585) (1,738)
Tesco Bank (increase)/decrease in trade and other receivables   4 34
Tesco Bank increase/(decrease) in customer and bank deposits, trade and other payables   1,348 1,820
Tesco Bank increase/(decrease) in provisions   (25) (6)
Tesco Bank (increase)/decrease in working capital   (258) 110
Cash generated from/(used in) operations   2,642 3,309
Interest paid   (306) (328)
Corporation tax (paid)/received   (370) (176)
Net cash generated from/(used in) operating activities   1,966 2,805
Cash flows generated from/(used in) investing activities       
Proceeds from sale of property, plant and equipment, investment property, intangible assets and non-current assets classified as held for sale   286 253
Purchase of property, plant and equipment, investment property and non-current assets classified as held for sale   (1,101) (1,440)
Purchase of intangible assets   (191) (197)
Disposal of subsidiaries, net of cash disposed   8 66
Acquisition of subsidiaries, net of cash acquired 31 (715) (27)
Proceeds from sale of joint ventures and associates   23
Net (increase)/decrease in loans to joint ventures and associates   5
Investments in joint ventures and associates   (11) (21)
Net (investments in)/proceeds from sale of short-term investments   639 1,697
Net (investments in)/proceeds from sale of financial assets at fair value through other comprehensive income   (122) 236
Dividends received from joint ventures and associates   41 26
Interest received   18 27
Net cash generated from/(used in) investing activities    (1,143) 643
Cash flows generated from/(used in) financing activities       
Proceeds from issue of ordinary share capital 28 60 11
Own shares purchased   (206)
Increase in borrowings   975 313
Repayment of borrowings   (2,471) (3,721)
Net cash flows from derivative financial instruments   35 253
Repayments of obligations under finance leases   (17) (10)
Dividends paid to equity owners 8 (357) (82)
Net cash generated from/(used in) financing activities   (1,981) (3,236)
Net increase/(decrease) in cash and cash equivalents   (1,158) 212
Cash and cash equivalents at the beginning of the year   4,059 3,832
Effect of foreign exchange rate changes   15 15
Cash and cash equivalents at the end of the year  18 2,916 4,059

The notes on pages 98 to 161 form part of these financial statements.

* Restated for the adoption of IFRS 15 and reclassification of derivative interest income as explained in Note 1 and Note 36.