The way ahead? - Vodafone

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Vodafone Group Plc
Annual Report 2013
Consolidated statement of cash flows
for the years ended 31 March
2013 2012 2011
Note £m £m £m
Net cash flow from operating activities 22 10,694 12,755 11,995
Cash flows from investing activities
Purchase of interests in subsidiaries and joint ventures, net of cash acquired (1,432) (149) (46)
Other investing activities in relation to purchase of subsidiaries – 310 (356)
Purchase of interests in associates (6) (5) –
Purchase of intangible assets (4,036) (3,090) (4,290)
Purchase of property, plant and equipment (4,666) (4,762) (4,350)
Purchase of investments (4,249) (417) (318)
Disposal of interests in subsidiaries and joint ventures, net of cash disposed 27 832 –
Disposal of interests in associates – 6,799 –
Disposal of property, plant and equipment 153 117 51
Disposal of investments 1,523 66 4,467
Dividends received from associates 4,827 4,023 1,424
Dividends received from investments 2 3 85
Interest received 459 322 1,659
Taxation on investing activities – (206) (208)
Net cash flow from investing activities (7,398) 3,843 (1,882)
Cash flows from financing activities
Issue of ordinary share capital and reissue of treasury shares 52 71 107
Net movement in short-term borrowings 1,672 1,206 (573)
Proceeds from issue of long-term borrowings 5,422 1,642 4,861
Repayment of borrowings (1,720) (3,520) (4,064)
Purchase of treasury shares (1,568) (3,583) (2,087)
Equity dividends paid (4,806) (6,643) (4,468)
Dividends paid to non-controlling shareholders in subsidiaries (379) (304) (320)
Other transactions with non-controlling shareholders in subsidiaries 15 (2,605) (137)
Interest paid (1,644) (1,633) (1,578)
Net cash flow from financing activities (2,956) (15,369) (8,259)
Net cash flow 340 1,229 1,854
Cash and cash equivalents at beginning of the financial year 23 7,088 6,205 4,363
Exchange (gain)/loss on cash and cash equivalents 170 (346) (12)
Cash and cash equivalents at end of the financial year 23 7,598 7,088 6,205
The accompanying notes are an integral part of these consolidated financial statements.