Group cash flow statement
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| Notes | 52 weeks 2017 £m |
52 weeks 2016 £m |
|
|---|---|---|---|
| Cash flows generated from/(used in) operating activities | |||
| Operating profit/ (loss) of continuing operations | 1,017 | 1,072 | |
| Operating profit/ (loss) of discontinued operations | (117) | 102 | |
| Depreciation and amortisation | 1,304 | 1,334 | |
| (Profit)/Loss arising on sale of property, plant and equipment and intangible assets | (78) | 164 | |
| (Profit)/Loss arising on sale of subsidiaries and other investments | 3 | - | |
| (Profit)/Loss arising on sale of joint ventures and associates | (5) | (1) | |
| Impairment loss on goodwill | 46 | 18 | |
| Net impairment loss/(reversal) on other investments | (12) | (7) | |
| Net impairment loss/(reversal) on loans/ investments in joint ventures and associates | - | 1 | |
| Net impairment loss/(reversal) on property, plant and equipment, software and intangible assets | (5) | 182 | |
| Adjustment for non-cash element of pensions charge | 27 | 7 | (395) |
| Additional contribution into pension schemes | 27 | (248) | (223) |
| Share-based payments | 15 | 283 | |
| Tesco Bank fair value movements included in operating profit | 98 | 72 | |
| Retail (increase)/decrease in inventories | 124 | 251 | |
| Retail (increase)/decrease in development stock | 16 | 99 | |
| Retail (increase)/ decrease in trade and other receivables | (74) | 20 | |
| Retail increase/ (decrease) in trade and other payables | 510 | 260 | |
| Retail increase/ decrease)/ increase in provisions | 11 | (280) | |
| Tesco Bank (increase)/decrease in loans and advances to customers | (1,529) | (868) | |
| Tesco Bank (increase)/decrease in trade and other receivables | (24) | (78) | |
| Tesco Bank increase/(decrease) in customer and bank deposits, trade and other payables | 1,474 | 463 | |
| Tesco Bank increase/(decrease) in provisions | 25 | (35) | |
| (Increase)/ decrease in working capital | 533 | (168) | |
| Cash generated from/(used in) operations | 2,558 | 2,434 | |
| Interest received/(paid) | (522) | (426) | |
| Corporation tax received/(paid) | (47) | 118 | |
| Net cash generated from/(used in) operating activities | 1,989 | 2,126 | |
| Cash flows from/(used in) investing activities | |||
| Purchase of property, plant and equipment, investment property and non-current assets classified as held for sale | (1,205) | (871) | |
| Purchase of intangible assets | (169) | (167) | |
| Disposal of subsidiaries, net of cash disposed | 31 | 205 | 3,237 |
| Acquisition of subsidiaries, net of cash acquired | 31 | (25) | (325) |
| Proceeds from sale of joint ventures and associates | - | 192 | |
| Proceeds from sale of property, plant and equipment, investment property, intangible assets and non-current assets classified as held for sale | 512 | 350 | |
| Net (increase)/ decrease in loans to joint ventures and associates | 15 | (1) | |
| Investments in joint ventures and associates | - | (77) | |
| Net (investments in)/ proceeds from sale of short-term investments | 736 | (2,894) | |
| Net (investments in)/ proceeds from sale of other investments | 141 | (103) | |
| Dividends received from joint ventures and associates | 28 | 41 | |
| Interest received/(paid) | 41 | 3 | |
| Net cash generated from/(used in) investing activities | 279 | (615) | |
| Cash flows generated from/(used in) financing activities | |||
| Proceeds from issue of ordinary share capital | 28 | 1 | 1 |
| Increase in borrowings | 185 | 586 | |
| Repayment of borrowings | (2,036) | (1,328) | |
| Net cash flows from derivative financial instruments | 475 | 154 | |
| Repayments of obligations under finance leases | (12) | (17) | |
| Dividends paid to equity owners | 8 | – | - |
| Net cash genrated from/(used in) financing activities | (1,387) | (604) | |
| Net increase/(decrease) in cash and cash equivalents | 881 | 907 | |
| Cash and cash equivalents at beginning of the year | 3,082 | 2,174 | |
| Effect of foreign exchange rate changes | (131) | 1 | |
| Cash and cash equivalents including cash held in disposal groups at the end of the year | 3,832 | 3,082 | |
| Cash held in disposal groups | 7 | (11) | - |
| Cash and cash equivalents at the end of the year | 18 | 3,821 | 3,082 |
The notes on pages 91 to 149 form part of these financial statements.
