Annual Report 2003 - Antofagasta plc

Notes to the Financial Statements22 Notes to the Consolidated Cash Flow Statementa) Reconciliation of operating profit to operating cash flows2003 2002US$m US$mOperating profit 387.3 213.9Depreciation charges 136.8 128.7Loss on disposal of tangible fixed assets 0.2 7.1Increase in stocks (1.6) (8.0)Increase in debtors (23.7) (10.2)Increase in creditors and provisions 11.2 18.8Net cash inflow from operating activities 510.2 350.3b) Analysis of cashflows for headings netted in the cash flow statement2003 2002US$m US$mReturns on investments and servicing of financeDividends received from other fixed asset investments 0.1 3.2Interest received 4.7 7.0Interest paid (31.6) (46.0)Preference dividends paid (0.2) (0.2)Dividends and other distributions paid to minority interests (81.7) (40.7)Net cash outflow from returns on investments and servicing of finance (108.7) (76.7)2003 2002US$m US$mANTOFAGASTA PLC Annual Report and Financial Statements 2003Capital expenditure and financial investmentPurchase of tangible fixed assets (91.7) (66.8)Purchase of fixed asset investments (1.3) (1.8)Sale of tangible fixed assets 5.4 1.3Sale of fixed asset investments 9.4 –Net cash outflow from capital expenditure and financial investment (78.2) (67.3)80