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CONDENSED CONSOLIDATED CASH FLOW STATEMENT - GBP (£)
£ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Profit after tax £ 730 £ 544
Taxation charge 230 320
Net finance costs 181 36
Depreciation of property, plant and equipment and right of use assets 98 82
Amortisation of intangible assets 54 50
Impairment and assets written off, net of reversals 6 23
Loss/(gain) on sale of intangible assets, property, plant and equipment and businesses 7 (3)
Other non-cash movements 31 6
Decrease in pension and other provisions (7) (44)
Changes in working capital:    
Increase in inventories (194) (153)
Increase in trade receivables (159) (92)
Increase in trade payables 103 144
Net change in other receivables and payables (97) (95)
Taxation paid (234) (138)
Net cash inflow from operating activities 749 680
Cash flows from investing activities    
Purchase of property, plant and equipment (122) (78)
Proceeds from sale of property, plant, and equipment   1
Purchase of intangible assets (22) (14)
Proceeds from sale of intangible assets 11 3
Purchase of businesses, net of cash acquired (71)  
Loans to related parties   (9,211)
Proceeds from settlement of amounts invested with GSK finance companies   700
Interest received 16 12
Net cash outflow from investing activities (188) (8,587)
Cash flows from financing activities    
Payment of lease liabilities (25) (17)
Interest paid (220) (4)
Dividends paid to shareholders (222) (873)
Distributions to non-controlling interests (43) (47)
Contribution from parent   18
Repayment of borrowings (245) (11)
Proceeds from borrowings 156 9,241
Other financing cash flows (79) 239
Net cash (outflow)/inflow from financing activities (678) 8,546
(Decrease)/increase in cash and cash equivalents and bank overdrafts (117) 639
Cash and cash equivalents and bank overdrafts at the beginning of the period 611 406
Exchange adjustments (33) 22
Cash and cash equivalents and bank overdrafts at the end of the period 461 1,067
Cash and cash equivalents and bank overdrafts at the end of the period comprise:    
Cash and cash equivalents 490 1,334
Overdrafts (29) (267)
Cash and cash equivalents and bank overdrafts at the end of the period £ 461 £ 1,067