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CASH FLOW STATEMENT (Tables)
 12 Months Ended
Dec. 31, 2017
CASH FLOW STATEMENT  
Schedule of cash flow statement

 

Borrowings

 

 

    

 

    

 

    

Due within

    

Due after

    

Net

    

Net

    

 

 

 

 

Cash

 

Overdrafts

 

one year

 

one year

 

currency swaps

 

interest swaps

 

Total

 

 

    

$ million

    

$ million

    

$ million

    

$ million

    

$ million

    

$ million

    

$ million

 

At 1 January 2015

 

93

 

(28)

 

(11)

 

(1,666)

 

(1)

 

 –

 

(1,613)

 

Net cash flow impact

 

34

 

 9

 

(17)

 

231

 

15

 

 1

 

273

 

Exchange adjustment

 

(7)

 

 1

 

 –

 

 1

 

(16)

 

 –

 

(21)

 

At 31 December 2015

 

120

 

(18)

 

(28)

 

(1,434)

 

(2)

 

 1

 

(1,361)

 

Net cash flow impact

 

(18)

 

(45)

 

 4

 

(129)

 

25

 

(2)

 

(165)

 

Exchange adjustment

 

(2)

 

 1

 

 –

 

(1)

 

(22)

 

 –

 

(24)

 

At 31 December 2016

 

100

 

(62)

 

(24)

 

(1,564)

 

 1

 

(1)

 

(1,550)

 

Net cash flow impact

 

64

 

49

 

 9

 

139

 

(24)

 

(1)

 

236

 

Termination of finance lease

 

 –

 

 –

 

 2

 

 3

 

 –

 

 –

 

 5

 

Exchange adjustment

 

 5

 

(1)

 

 –

 

(1)

 

25

 

 –

 

28

 

At 31 December 2017

 

169

 

(14)

 

(13)

 

(1,423)

 

 2

 

(2)

 

(1,281)

 

Reconciliation of net cash flow to movement in net debt

 

 

 

 

 

 

 

 

 

  
2017

 
2016

 
2015

 

 

    

$ million

    

$ million

    

$ million

 

Net cash flow from cash net of overdrafts

 

113

 

(63)

 

43

 

Settlement of currency swaps

 

(24)

 

25

 

15

 

Net cash flow from borrowings

 

147

 

(127)

 

215

 

Change in net debt from net cash flow

 

236

 

(165)

 

273

 

Termination of finance lease

 

 5

 

 –

 

 –

 

Exchange adjustment

 

28

 

(24)

 

(21)

 

Change in net debt in the year

 

269

 

(189)

 

252

 

Opening net debt

 

(1,550)

 

(1,361)

 

(1,613)

 

Closing net debt

 

(1,281)

 

(1,550)

 

(1,361)

 

 

Cash and cash equivalents

For the purposes of the Group cash flow statement cash and cash equivalents at 31 December 2017 comprise cash at bank net of bank overdrafts.

 

 

 

 

 

 

 

 

 

  
2017

 
2016

 
2015

 

 

     

$ million

    

$ million

    

$ million

 

Cash at bank

 

169

 

100

 

120

 

Bank overdrafts

 

(14)

 

(62)

 

(18)

 

Cash and cash equivalents

 

155

 

38

 

102

 

The Group operates in over 100 countries around the world, some of which impose restrictions over cash movement. These restrictions have only a minimal impact of the management of the Group’s cash.

Cash (inflows)/outflows arising from financing activities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
2017

 

 

 

Repayment

 

Borrowing

 

Cash

 

 

 

 

 

Proceeds from own

 

 

 

 

    

of bank

    

of bank

 

(inflow)/outflow

 

 

 

Purchase of

 

Shares/issue of

 

 

 

 

 

loans

 

loans

    

from other

    

Dividends

    

own shares

    

ordinary shares

    

Total

 

 

 

$ million

 

$ million

 

$ million

 

$ million

 

$ million

 

$ million

 

$ million

 

Debt

 

770

 

(623)

 

(24)

 

 –

 

 –

 

 –

 

123

 

Equity

 

 –

 

 –

 

 –

 

269

 

52

 

(10)

 

311

 

Total

 

770

 

(623)

 

(24)

 

269

 

52

 

(10)

 

434

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
2016

 

 

 

Repayment

 

Borrowing

 

Cash

 

 

 

 

 

Proceeds from own

 

 

 

 

 

of bank

 

of bank

 

(inflow)/outflow

 

 

 

Purchase of

 

Shares/issue of

 

 

 

 

    

loans

    

loans

    

from other

    

Dividends

    

own shares

    

ordinary shares

    

Total

 

 

 

$ million

 

$ million

 

$ million

 

$ million

 

$ million

 

$ million

 

$ million

 

Debt

 

797

 

(924)

 

25

 

 –

 

 –

 

 –

 

(102)

 

Equity

 

 –

 

 –

 

 –

 

279

 

368

 

(16)

 

631

 

Total

 

797

 

(924)

 

25

 

279

 

368

 

(16)

 

529

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
2015

 

 

 

Repayment

 

Borrowing

 

Cash

 

 

 

 

 

Proceeds from own

 

 

 

 

 

of bank

 

of bank

 

(inflow)/outflow

 

 

 

Purchase of

 

Shares/issue of

 

 

 

 

    

loans

    

loans

    

from other

    

Dividends

    

own shares

    

ordinary shares

    

Total

 

 

 

$ million

 

$ million

 

$ million

 

$ million

 

$ million

 

$ million

 

$ million

 

Debt

 

1,088

 

(873)

 

15

 

 –

 

 –

 

 –

 

230

 

Equity

 

 –

 

 –

 

 –

 

272

 

77

 

(21)

 

328

 

Total

 

1,088

 

(873)

 

15

 

272

 

77

 

(21)

 

558