annual report 2011

Statement of cash flows
For the year ended 30 June 2011
IOOF | annual report 2011
Consolidated Parent
2011 2010 2011 2010
$’000 $’000 $’000 $’000
Cash flows from operating activities
Receipts from customers 689,929 673,284 6,219 327
Payments to suppliers and employees (554,160) (577,346) (609) (3,676)
Interest and other costs of finance paid (761) (1,096) (467) (719)
Net stockbroking purchases (276) 3,346 - -
Dividends received from associates 9,378 6,353 - -
Income taxes paid (21,913) (11,860) (12,856) (632)
Fund manager rebates paid to subsidiaries - - (6,029) (183)
Net cash provided by/(used in) operating activities 38(b) 122,197 92,681 (13,742) (4,883)
Cash flows from investing activities
Interest received 9,115 5,493 2,459 1,971
Dividends and distributions received 1,843 1,971 129,912 64,218
Net proceeds/(payments) from sales or purchases of financial
(580) (1,074) - -
assets
Payments for property, plant and equipment (8,373) (1,162) - -
Proceeds on disposal of property, plant and equipment 77 44 - -
Amounts (advanced to)/borrowed from other entities (617) 714 8,048 10,125
Proceeds on sale of life policies 220 - - -
Payments for intangible assets (283) (5,334) - -
Proceeds on disposal of Macarthur Cook investment - - - 1,484
Net cash flow on disposal of Intech business - 451 - -
Interests acquired in associates and non-controlling interests (1,980) (1,640) (864) -
Net cash provided by/(used in) investing activities (578) (537) 139,555 77,798
Cash flows from financing activities
Repayment of borrowings (14,590) (16,086) - -
Proceeds on disposal of treasury shares - 6,048 - -
On-market purchase of treasury shares transferred to
(414) - - -
employees during the year
Proceeds from issues of equity securities on exercise of
9,464 1,675 9,464 1,675
options
Dividends paid:
- members of the Company (89,936) (77,841) (89,935) (78,197)
- non-controlling members of subsidiary entities (1,567) (3,632) - -
- shareholders entitled to contractual share buy-back (4,357) (1,650) - -
Net cash provided by/(used in) financing activities (101,400) (91,486) (80,471) (76,522)
Net increase/(decrease) in cash and cash equivalents 20,219 658 45,342 (3,607)
Cash and cash equivalents at the beginning of the
132,780 132,122 617 4,224
financial year
Cash and cash equivalents at the end of the financial year 152,999 132,780 45,959 617
Notes to the financial statements are included on pages 54 to 113
page 53