2001 Annual Report - OneSteel

Statement of Cash FlowsFOR THE PERIOD ENDED 30 JUNEConsolidatedParent12 Months to 13 Months to 12 Months to 13 Months to30 June 2001 30 June 2000 30 June 2001 30 June 2000Note $m $m $m $mInflows/(outflows)Cash flows from operating activitiesReceipts from customers 2,609.2 910.3 5.5 0.7Payments to suppliers and employees (2,414.3) (787.0) (3.6) –GST Paid (59.2) – – –Dividends received 3.0 – 177.4 40.6Interest received 3.1 1.2 – –Interest and other costs of finance paid (52.4) (17.8) – –Operating cash flows before income tax 89.4 106.7 179.3 41.3Income taxes paid (45.9) (5.6) (0.4) (0.8)Net operating cash flows 26(b) 43.5 101.1 178.9 40.5Cash flows from investing activitiesPurchases of property, plant and equipment (37.9) (14.8) – –Purchases of investments (0.2) – – –Purchase of controlled entities net of their cash 26(c) (121.6) (855.0) (121.6) (756.1)Purchases of businesses (519.7) – – –Proceeds from sale of property, plant and equipment 8.2 14.5 – –Loan to non-related parties 7 (285.8) – – –Repayment of loan by non-related parties 7 157.2 – – –Proceeds from sale of investments 111.1 46.5 – –Proceeds from sale of controlled entities net of their cash 2.4 – 2.4 –Net investing cash flows (686.3) (808.8) (119.2) (756.1)Cash flows from financing activitiesProceeds from issue of shares 22 933.3 – 933.3 –Proceeds from borrowings 1,108.0 38.9 – –Repayment of borrowings (377.2) – – –Repayment of loans from related party (1,725.5) – (979.3) (2.2)Proceeds from loans to related party 709.6 779.4 – 808.2Dividends paid (15.7) (90.4) (13.7) (90.4)Net financing cash flows 632.5 727.9 (59.7) 715.6Net increase/(decrease) in cash and cash equivalents (10.3) 20.2 – –Cash and cash equivalents at beginning of year 17.4 (2.8) – –Effect of exchange rates on cash and cash equivalents 0.2 – – –Cash and cash equivalents at end of year 26(a) 7.3 17.4 – –The accompanying notes form an integral part of this statement of cash flows.7