i

Notes on the Condensed Interim Statements
for the period 1 April 2016 to 30 September 2016
11. Notes to the Consolidated Cash Flow Statement
(a) Reconciliation of Group operating profit to cash generated from operations
Year ended
31 March
2016
Six months
ended
30 September
2016
Six months
ended
30 September
2015
£m £m £m
585.2 Profit for the period/year 550.1 205.2
Add back:
8.1 Taxation 65.8 25.6
192.1 Net finance costs 120.6 112.3
785.4 Operating profit 736.5 343.1
(204.8) Less: share of profit of ventures and associates (99.8) (79.7)
580.6 Operating profit before joint ventures and associates 636.7 263.4
Add/(less):
31.1 Movement on operating derivatives (162.1) 276.2
(35.9) Pension service charges net of contributions paid (28.0) (26.3)
889.8 Exceptional charges - 2.2
676.8 Depreciation of assets 369.1 323.6
2.3 Amortisation and impairment of intangible assets 1.2 1.5
6.7 Other fixed asset impairments - -
(7.8) Release of provisions - -
(17.9) Release of deferred income (9.3) (8.9)
16.5 Charge in respect of employee share awards (before tax) 6.6 8.7
(30.1) (Profit)/loss on disposal of assets, investments and businesses (19.9) (40.0)
2,112.1 Cash generated from operations before working capital movements 794.3 800.4
(b) Reconciliation of net increase in cash and cash equivalents to movement in adjusted net debt and hybrid capital
Year ended
31 March 2016
Six months
ended 30
September
2016
Six months
ended 30
September
2015
£m £m £m
(1,151.9) Increase/(Decrease) in cash and cash equivalents (102.3) 166.3
(Add)/less:
1,161.4 Redemption of hybrid capital - -
(1,070.1) New borrowings (1,089.5) (541.1)
77.7 Repayment of borrowings 910.3 5.5
(94.8) Non cash movement on borrowings (84.9) (41.0)
50.1 (Decrease)/increase in cash held as collateral and other short term loans (33.3) 41.6
200.7 Balances due to partners in Clyde Windfarm (Scotland) Limited (200.7) -
(826.9) Movement in adjusted net debt and hybrid capital (600.4) (368.7)
Other movement on borrowings includes non-cash revaluation of fair value items, exchange movements and accretion of index-linked
bonds and minimum payments under finance leases. Cash held as collateral refers to amounts deposited on commodity trading exchanges
which are reported within trade and other receivables on the face of the balance sheet. The balances due to partners in Clyde Windfarm
(Scotland) were no longer included in reported borrowings from 13 May 2016 following change in consolidation basis as described at Note
4.2(v) with the movement being shown in repayment of borrowings.
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