Annual Report 2000 in PDF - Antofagasta plc

23 Notes to the Consolidated Cash Flow Statementa) Reconciliation of operating profit/(loss) to operating cash flowsUS DollarsSterling2000 1999 2000 1999US$m US$m £m £mOperating profit/(loss) 246.0 (8.6) 162.4 (5.3)Depreciation charges 105.9 22.4 69.7 13.9Loss on disposal of tangible fixed assets (including provisions for write down) 3.0 12.3 2.0 7.6Increase in stocks (6.0) (20.9) (4.0) (12.9)Increase in debtors (70.5) (0.1) (46.5) (0.1)Increase in creditors and provisions 48.2 (0.8) 31.8 (0.4)Net cash inflow from operating activities 326.6 4.3 215.4 2.8The adjustments to operating profit in 1999 included US$11.1 million (£6.8 million) relating to loss on disposal oftangible fixed assets and US$0.9 million (£0.6 million) in respect of stock write-offs which were treated as exceptionalitems in the profit and loss account. Further details are given in Note 4. There were no exceptional items affectingoperating profit in 2000.b) Analysis of cashflows for headings netted in the cash flow statementUS DollarsSterling2000 1999 2000 1999US$m US$m £m £mReturns on investments and servicing of financeDividends received from other fixed asset investments 31.5 5.4 20.1 3.3Interest received 22.3 19.6 14.7 12.2Interest paid (86.0) (39.6) (56.7) (24.5)Preference dividends paid (0.2) (0.2) (0.1) (0.1)Dividends paid to minority interests (10.2) – (6.7) –Net cash inflow from returns on investments and servicing of finance (42.6) (14.8) (28.7) (9.1)Interest received and paid includes net interest capitalised in relation to the El Tesoro development. In 1999, net interestin relation to both the Los Pelambres and El Tesoro developments was capitalised. Such interest received in the yearamounted to US$5.0 million (£3.3 million; 1999 – US$4.2 million; £2.6 million) and such interest paid amounted toUS$2.8 million (£1.8 million; 1999 – US$39.5 million; £24.4 million).ANTOFAGASTA PLC Annual Report 200071