Integrated Annual Report 2015

Combined consolidated cash flow statement

For the year to 31 March
£’000
Notes 2015  2014*
Profit before taxation adjusted for non-cash items 49  722 593  704 233 
Taxation paid   (105 230) (35 508)
Increase in operating assets 49  (2 312 292) (979 947)
Increase in operating liabilities 49  2 291 132  1 290 173 
Net cash inflow from operating activities 596 203  978 951 
 
Cash flow on acquisition of group operations 35  (6 503) (270)
Cash flow on disposal of group operations 35  226 291  38 232 
Cash flow on net disposal of associates   131  6 231 
Cash flow on acquisition of property, equipment and intangible assets   (45 775) (42 487)
Cash flow on disposal of property, equipment and intangible assets   19 593  22 607 
Net cash inflow from investing activities   193 737  24 313 
 
Dividends paid to ordinary shareholders   (168 486) (150 053)
Dividends paid to other equity holders   (64 269) (43 319)
Proceeds on issue of shares, net of related costs   38 896  31 650 
Proceeds on issue of Other Additional Tier 1 securities   30 599  – 
Cash flow on acquisition of treasury shares, net of related costs   (122 637) (98 688)
Proceeds on issue of other equity instruments**   19 764  35 477 
Proceeds from partial disposal of subsidiaries 35  40 914  122 716 
Proceeds from subordinated debt raised   –  82 930 
Repayment of subordinated debt   (33 793) (215 314)
Net cash outflow from financing activities   (259 012) (234 601)
       
Effects of exchange rates on cash and cash equivalents (17 091) (281 225)
     
Net increase in cash and cash equivalents 513 837  487 438 
Cash and cash equivalents at the beginning of the year 4 049 011  3 561 573 
Cash and cash equivalents at the end of the year 4 562 848  4 049 011 
 
Cash and cash equivalents is defined as including:
Cash and balances at central banks 2 529 562  2 080 190 
On demand loans and advances to banks 1 446 886  1 453 632 
Non-sovereign and non-bank cash placements 586 400  515 189 
Cash and cash equivalents at the end of the year 4 562 848  4 049 011 

* As restated for restatements detailed in note 59.
** Includes equity instruments issued by subsidiaries.

Cash and cash equivalents have a maturity profile of less than three months.

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