PLC | Investors

Group cash flow statement

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  Notes 52 weeks 2021 53 weeks 2020 (restated(a)(b))
£m £m
Cash flows generated from/(used in) operating activities      
Operating profit/(loss) of continuing operations   1,736 2,206
Operating profit/(loss) of discontinued operations   5,482 312
Depreciation and amortisation   1,767 2,157
(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   (190) (170)
(Profit)/loss arising on sale of financial assets   - (3)
(Profit)/ loss arising on sale of joint ventures and associates    (29) (68)
(Profit)/ loss arising on sale of subsidiaries 7 (5,197) -
Transaction costs associated with sale of subsidiaries   6 22
Net impairment loss/(reversal) on property, plant and equipment, right of use assets, intangible assets and investment property   (85) 302
Impairment of goodwill 15 295 -
Net remeasurement (gain)/loss of non-current assets held for sale   (5) -
Impairment of joint ventures   - 47
Adjustment for non-cash element of pensions charge   14 9
Other defined benefit pension scheme payments 29 (2,851) (267)
Share-based payments   30 87
Tesco Bank fair value movements included in operating profit   367 100
Retail (increase)/decrease in inventories   (52) 178
Retail (increase)/decrease in development stock   2 1
Retail (increase)/decrease in trade and other receivables   63 175
Retail increase/(decrease) in trade and other payables   329 (403)
Retail increase/(decrease) in provisions   56 (87)
Retail (increase)/decrease in working capital   398 (136)
Tesco Bank (increase)/decrease in loans and advances to customers and banks   1686 127
Tesco Bank (increase)/decrease in trade and other receivables   62 310
Tesco Bank increase/(decrease) in customer and bank deposits, trade and other payables   (1,902) (3,849)
Tesco Bank increase/(decrease) in provisions   2 5
Tesco Bank (increase)/decrease in working capital   (152) (3,407)
Cash generated from/(used in) operations   1,586 1,191
Interest paid   (729) (803)
Corporation tax paid   (255) (340)
Net cash generated from/(used in) operating activities 602 48
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    237 3,965
Purchase of property, plant and equipment and investment property   (1,171) (1,003)
Purchase of intangible assets   (206) (201)
Disposal of subsidiaries, net of cash disposed 7 7,093 (6)
Acquisition of subsidiaries, net of cash acquired   15 -
Disposal of associate    - 277 
Net (increase)/decrease in loans to joint ventures and associates   (2) 8
Investments in joint ventures and associates   (11) (9)
Net (investments in)/proceeds from sale of short-term investments   62 (687)
Net (investments in)/proceeds from sale of financial assets at fair value through other comprehensive income and amortised cost 25c 116 (6)
Dividends received from joint ventures and associates   26 42
Interest received   12 18
Net cash generated from/(used in) investing activities 6,171 2,398
Cash flows generated from/(used in) financing activities      
Own shares purchased   (66) (149)
Repayment of obligations under leases    (621) (634)
Increase in borrowings   1,098 1,272
Repayment of borrowings   (1,814) (1,756)
Net cash flows from derivative financial instruments 25c (580) (17)
Dividends paid to equity owners 8 (5,858) (656)
Net cash generated from/(used in) financing activities (7,841) (1,940)
Net increase/(decrease) in cash and cash equivalents   (1,068) 506
Cash and cash equivalents at the beginning of the year   3,031 2,567
Effect of foreign exchange rate changes   8 (42)
Cash and cash equivalents including cash and overdrafts held in disposal groups at the end of the year   1,971 3,031
Cash and overdrafts held in disposal groups   7 -
Cash and cash equivalents at the end of the year 20 1,978 3,031

 

The notes on pages 84 to 147 form part of these financial statements.

(a) Comparatives have been restated to present Thailand, Malaysia and Poland as discontinued operations. Refer to Note 7 for further details.

(b) Refer to Note 1 for further details regarding the prior year restatement.