Group cash flow statement

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  Notes 52 weeks 2018
£m
52 weeks 2017
£m
Cash flows generated from/(used in) operating activities      
Operating profit/(loss) of continuing operations   1,837 1,017
Operating profit/(loss) of discontinued operations   (117)
Depreciation and amortisation   1,295 1,304
(Profit)/loss arising on sale of property, plant and equipment and intangible assets   (66) (78)
(Profit)/loss arising on sale of subsidiaries and other investments   (165) 3
(Profit)/loss arising on sale of joint ventures and associates   (23) (5)
Impairment loss on goodwill   46
Net impairment loss/(reversal) on other investments   (22) (12)
Net impairment loss/(reversal) on property, plant and equipment, intangible assets and investment property    (167) (5)
Adjustment for non-cash element of pensions charge 27 4 7
Additional contribution into pension schemes 27 (245) (248)
Share-based payments   113 15
Tesco Bank fair value movements included in operating profit   156 98 
Retail (increase)/decrease in inventories   55 124
Retail (increase)/decrease in development stock   21 16
Retail (increase)/decrease in trade and other receivables   (1) (74)
Retail increase/(decrease) in trade and other payables   278 510
Retail increase/(decrease) in provisions   132  11
Retail (increase)/decrease in working capital   485  587
Tesco Bank (increase)/decrease in loans and advances to customers   (1,738) (1,529)
Tesco Bank (increase)/decrease in trade and other receivables   30 (24)
Tesco Bank increase/(decrease) in customer and bank deposits, trade and other payables   1,821 1,474
Tesco Bank increase/(decrease) in provisions   (6) 25
Tesco Bank (increase)/decrease in working capital   107 (54)
Cash generated from/(used in) operations   3,309  2,558
Interest paid   (351)  (522)
Corporation tax (paid)/received   (176) (47)
Net cash generated from/(used in) operating activities   2,782  1,989
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   253 512
Purchase of property, plant and equipment, investment property and non-current assets classified as held for sale   (1,440) (1,205)
Purchase of intangible assets   (197) (169)
Disposal of subsidiaries, net of cash disposed   66  205
Acquisition of subsidiaries, net of cash acquired 31 (27)  (25)
Proceeds from sale of joint ventures and associates   23
Net (increase)/decrease in loans to joint ventures and associates   15
Investments in joint ventures and associates   (21)
Net (investments in)/proceeds from sale of short-term investments   1,697 736
Net (investments in)/proceeds from sale of other investments   236 141
Dividends received from joint ventures and associates   26 28
Interest received   50 41
Net cash generated from/(used in) investing activities    666 279
Cash flows generated from/(used in) financing activities       
Proceeds from issue of ordinary share capital 28 11 1
Increase in borrowings   313 185
Repayment of borrowings   (3,721) (2,036)
Net cash flows from derivative financial instruments   253 475
Repayments of obligations under finance leases   (10) (12)
Dividends paid to equity owners 8 (82)
Net cash generated from/(used in) financing activities   (3,236) (1,387)
Net increase/(decrease) in cash and cash equivalents    212 881
Cash and cash equivalents at the beginning of the year   3,832 3,082
Effect of foreign exchange rate changes   15 (131)
Cash and cash equivalents including cash held in disposal group at the end of the year   4,059 3,832
Cash held in disposal group 7 (11)
Cash and cash equivalents at the end of the year  18 4,059  3,821

The notes on pages 79 to 131 form part of these financial statements.