2009 Annual Report - CRH

Consolidated Statement of Cash Flows
for the financial year ended 31st December 2009 2009 2008
€m €m
Notes
Cash flows from operating activities
Profit before tax 732 1,628
Finance costs (net) 297 343
Group share of associates' profit after tax (48) (61)
Profit on disposal of non-current assets (26) (69)
Group operating profit 955 1,841
13 Depreciation charge (including impairments) 794 781
7 Share-based payment expense 28 24
14 Amortisation of intangible assets (including impairments) 54 43
29 Amortisation of capital grants (2) (3)
Other non-cash movements (37) (15)
26 Net movement on provisions (41) (28)
20 Decrease/(increase) in working capital 783 (57)
Cash generated from operations 2,534 2,586
Interest paid (including finance leases) (294) (371)
Irish corporation tax paid (2) (18)
Overseas corporation tax paid (102) (304)
Net cash inflow from operating activities 2,136 1,893
Cash flows from investing activities
Inflows
16 Proceeds from disposal of non-current assets 103 168
Interest received 31 51
29 Capital grants received - 4
Dividends received from associates 38 42
172 265
Outflows
13 Purchase of property, plant and equipment (532) (1,039)
32 Acquisition of subsidiaries and joint ventures (174) (777)
15 Investments in and advances to associates (235) (156)
15 Advances to joint ventures and purchase of trade investments (9) (50)
20 Increase in finance-related receivables (115) -
20 Deferred and contingent acquisition consideration paid (37) (34)
(1,102) (2,056)
Net cash outflow from investing activities (930) (1,791)
Cash flows from financing activities
Inflows
30 Proceeds from issue of shares (net) 1,237 6
Proceeds from exercise of share options 60 31
25 Decrease in liquid investments 65 175
Increase in interest-bearing loans, borrowings and finance leases 757 1,382
25 Net cash inflow arising from derivative financial instruments 16 -
2,135 1,594
Outflows
Treasury/own shares purchased (2) (414)
Repayment of interest-bearing loans, borrowings and finance leases (2,501) (1,024)
25 Net cash outflow arising from derivative financial instruments - (100)
11 Dividends paid to equity holders of the Company (238) (347)
11 Dividends paid to minority interests (7) (5)
(2,748) (1,890)
Net cash outflow from financing activities (613) (296)
Increase/(decrease) in cash and cash equivalents 593 (194)
Reconciliation of opening to closing cash and cash equivalents
25 Cash and cash equivalents at 1st January 799 1,006
25 Translation adjustment (20) (13)
Increase/(decrease) in cash and cash equivalents 593 (194)
25 Cash and cash equivalents at 31st December 1,372 799
A reconciliation of cash and cash equivalents to net debt is presented in note 25 to the financial statements.
K. McGowan, M. Lee, Directors
CRH 65