Group cash flow statement
Year ended 31 December 2011
| Notes | 2011 $m |
2010 $m |
|
|---|---|---|---|
| Cash flows from operating activities | |||
| Cash generated from operations | 26 | 1,903.1 | 818.0 |
| Income taxes paid | (171.8) | (85.6) | |
| Net cash from operating activities | 1,731.3 | 732.4 | |
| Cash flows from investing activities | |||
| Disposal of oil and gas assets | – | 6.7 | |
| Disposal of other assets | 2.4 | – | |
| Purchase of subsidiaries | (404.0) | – | |
| Purchase of intangible exploration and evaluation assets | (1,018.4) | (2,006.1) | |
| Purchase of property, plant and equipment | (635.1) | (625.6) | |
| Advances to contractors | – | (172.4) | |
| Finance revenue | 13.6 | 5.4 | |
| Net cash used in investing activities | (2,041.5) | (2,792.0) | |
| Cash flows from financing activities | |||
| Net proceeds from issue of share capital | 86.7 | 1,453.3 | |
| Debt arrangement fees | (30.0) | (16.7) | |
| Repayment of bank loans | (320.0) | (20.9) | |
| Drawdown of bank loan | 1,200.0 | 907.0 | |
| Repayment of obligations under finance leases | (308.4) | – | |
| Finance costs | (210.2) | (94.2) | |
| Dividends paid | 9 | (114.2) | (79.2) |
| Distribution to minority shareholders | (25.0) | – | |
| Net cash generated by financing activities | 278.9 | 2,149.3 | |
| Net (decrease)/increase in cash and cash equivalents | (31.3) | 89.7 | |
| Cash and cash equivalents at beginning of year | 338.3 | 252.2 | |
| Foreign exchange | 0.1 | (3.6) | |
| Cash and cash equivalents at end of year | 17 | 307.1 | 338.3 |
