Group cash flow statement
Visit our downloads centre to download this in Excel or PDF format
| 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.