british american tobacco p.l.c. annual report 2008 - Group cash flow statement
British American Tobacco p.l.c. Annual Report 2008
For the year ended 31 December
| Notes | 2008 £m | 2007 £m | |
|---|---|---|---|
| Cash flows from operating activities | |||
| Cash generated from operations | 25 | 4,156 | 3,181 |
| Dividends received from associates | 326 | 285 | |
| Tax paid | (943) | (866) | |
| Net cash from operating activities | 3,539 | 2,600 | |
| Cash flows from investing activities | |||
| Interest received | 125 | 114 | |
| Dividends received from investments | 2 | 2 | |
| Purchases of property, plant and equipment | (448) | (416) | |
| Proceeds on disposal of property, plant and equipment | 62 | 46 | |
| Purchases of intangibles | (96) | (66) | |
| Proceeds on disposal of intangibles | 25 | 17 | 16 |
| Purchases and disposals of investments | 25 | 9 | 71 |
| Proceeds from associates' share buy-backs | 25 | 42 | |
| Purchase of Tekel cigarette assets | 25 | (873) | |
| Purchase of ST cigarette and snus businesses | 25 | (1,243) | |
| Purchases of other subsidiaries and minority interests | 25 | (9) | (15) |
| Proceeds on disposal of subsidiaries | 25 | 26 | 126 |
| Net cash from investing activities | (2,386) | (122) | |
| Cash flows from financing activities | |||
| Interest paid | (400) | (384) | |
| Interest element of finance lease rental payments | (3) | (3) | |
| Capital element of finance lease rental payments | (30) | (21) | |
| Proceeds from issue of shares to Group shareholders | 3 | 5 | |
| Proceeds from the exercise of options over own shares held in employee share ownership trusts | 7 | 22 | |
| Proceeds from increases in and new borrowings | 25 | 3,518 | 438 |
| Movements relating to derivative financial instruments | 25 | (656) | (89) |
| Purchases of own shares | (400) | (750) | |
| Purchases of own shares held in employee share ownership trusts | (116) | (41) | |
| Reductions in and repayments of borrowings | 25 | (731) | (427) |
| Dividends paid to shareholders | 8 | (1,393) | (1,198) |
| Dividends paid to minority interests | (173) | (173) | |
| Net cash from financing activities | (374) | (2,621) | |
| Net cash flows from operating, investing and financing activities | 779 | (143) | |
| Differences on exchange | 261 | 47 | |
| Increase/(decrease) in net cash and cash equivalents in the year | 1,040 | (96) | |
| Net cash and cash equivalents at 1 January | 1,180 | 1,276 | |
| Net cash and cash equivalents at 31 December | 19 | 2,220 | 1,180 |
The accompanying notes are an integral part of the Group financial statements.
© British American Tobacco