Annual report and accounts 2009 (PDF) - Coventry Building Society

CASH FLOW STATEMENTSfor the year ended 31 December 2009Group Society Group Society2009 2009 2008 2008Notes £m £m £m £mCash flows from operating activitiesProfit before tax 56.2 50.9 26.4 23.5Adjustments for:Non-cash items included in profit before tax 42 164.0 158.6 (37.3) (32.9)Changes in operating assets 42 (865.2) (152.0) 317.6 1,355.9Changes in operating liabilities 42 691.1 690.9 762.4 762.5Interest paid on subordinated liabilities (4.0) (4.0) (4.0) (4.0)Interest paid on subscribed capital (12.2) (12.2) (12.2) (12.2)Taxation (5.2) (5.0) (14.7) (14.7)Net cash flows from operating activities 24.7 727.2 1,038.2 2,078.1Cash flows from investing activitiesPurchase of investment securities (12,479.9) (12,479.9) (10,504.4) (10,504.4)Sale and maturity of investment securities 12,084.0 12,084.0 9,556.8 9,556.8Purchase of property, plant and equipment (3.4) (3.4) (5.7) (5.7)Purchase of intangible fixed assets (4.4) (4.4) (2.8) (2.8)Net cash flows from investing activities (403.7) (403.7) (956.1) (956.1)Cash flows from financing activitiesLoans from connected undertakings - 158.8 - 2,801.1Loans to connected undertakings - (861.6) - (3,842.3)Issue of securities 346.6 346.6 - -Net cash flows from financing activities 346.6 (356.2) - (1,041.2)Net (decrease)/increase in cash (32.4) (32.7) 82.1 80.8Cash and cash equivalents at start of year 360.5 358.6 278.4 277.8Cash and cash equivalents at end of year 42 328.1 325.9 360.5 358.6The accounting policies and notes on pages 34 to 75 form part of these Accounts.33