Group cash flow statement
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| Notes | 53 weeks 2020 | 52 weeks 2019 (*restated) | |
| £m | £m | ||
| Cash flows generated from/(used in) operating activities | |||
| Operating profit/(loss) | 2,518 | 2,649 | |
| Depreciation and amortisation | 2,157 | 2,050 | |
| (Profit)/loss arising on sale of property, plant and equipment, investment property, intangible assets and assets classified as held for sale and early termination of leases | (170) | (131) | |
| (Profit)/loss arising on sale of financial assets | (3) | (8) | |
| (Profit)/ loss arising on sale of joint ventures and associates | (68) | – | |
| Net impairment loss/(reversal) on property, plant and equipment, right of use assets, intangible assets and investment property | 302 | (114) | |
| Impairment of joint ventures | 47 | – | |
| Adjustment for non-cash element of pensions charge | 9 | 45 | |
| Other defined benefit pension scheme payments | 29 | (267) | (266) |
| Share-based payments | 87 | 77 | |
| Tesco Bank fair value movements included in operating profit | 100 | 127 | |
| Retail (increase)/decrease in inventories | 178 | 11 | |
| Retail (increase)/decrease in development stock | 1 | (2) | |
| Retail (increase)/decrease in trade and other receivables | 175 | 108 | |
| Retail increase/(decrease) in trade and other payables | (391) | (310) | |
| Retail increase/(decrease) in provisions | (87) | (197) | |
| Retail (increase)/decrease in working capital | (124) | (390) | |
| Tesco Bank (increase)/decrease in loans and advances to customers and banks | 127 | (1,585) | |
| Tesco Bank (increase)/decrease in trade and other receivables | 310 | 4 | |
| Tesco Bank increase/(decrease) in customer and bank deposits, trade and other payables | (3,849) | 1,348 | |
| Tesco Bank increase/(decrease) in provisions | 5 | (25) | |
| Tesco Bank (increase)/decrease in working capital | (3,407) | (258) | |
| Cash generated from/(used in) operations | 1,181 | 3,781 | |
| Interest paid | (803) | (859) | |
| Corporation tax paid | (340) | (370) | |
| Net cash generated from/(used in) operating activities | 38 | 2,552 | |
| Cash flows generated from/(used in) investing activities | |||
| Proceeds from sale of property, plant and equipment, investment property, intangible assets and assets classified as held for sale | 3,965 | 286 | |
| Purchase of property, plant and equipment and investment property | (1,003) | (1,101) | |
| Purchase of intangible assets | (201) | (191) | |
| Disposal of subsidiaries, net of cash disposed | 4 | 8 | |
| Acquisition of subsidiaries, net of cash acquired | – | (715) | |
| Disposal of associate | 33 | 277 | – |
| Net (increase)/decrease in loans to joint ventures and associates | 8 | 5 | |
| Investments in joint ventures and associates | (9) | (11) | |
| Net (investments in)/proceeds from sale of short-term investments | (687) | 639 | |
| Net (investments in)/proceeds from sale of financial assets at fair value through other comprehensive income | (6) | (122) | |
| Dividends received from joint ventures and associates | 42 | 41 | |
| Interest received | 18 | 21 | |
| Net cash generated from/(used in) investing activities | 2,408 | (1,140) | |
| Cash flows generated from/(used in) financing activities | |||
| Proceeds from issue of ordinary share capital | 30 | – | 60 |
| Own shares purchased | (149) | (206) | |
| Repayment of obligations under leases | (634) | (606) | |
| Increase in borrowings | 1,332 | 975 | |
| Repayment of borrowings | (1,788) | (2,471) | |
| Net cash flows from derivative financial instruments | (17) | 35 | |
| Dividends paid to equity owners | 8 | (656) | (357) |
| Net cash generated from/(used in) financing activities | (1,912) | (2,570) | |
| Net increase/(decrease) in cash and cash equivalents | 534 | (1,158) | |
| Cash and cash equivalents at the beginning of the year | 2,916 | 4,059 | |
| Effect of foreign exchange rate changes | (42) | 15 | |
| Cash and cash equivalents at the end of the year | 20 | 3,408 | 2,916 |
The notes on pages 84 to 147 form part of these financial statements.
* Restated for the adoption of IFRS 16 as explained in Note 1 and Note 37.