PLC | Investors

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.