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CASH FLOW STATEMENT (Tables)
 12 Months Ended
Dec. 31, 2019
CASH FLOW STATEMENT  
Schedule of cash flow statement

Analysis of net debt including lease liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrowings

 

 

 

 

 

Cash

 

Overdrafts

 

Due within
one year

 

Due after
one year

 

Net
currency swaps

 

Net
interest swaps

 

Total

 

 

    

$ million

    

$ million

    

$ million

    

$ million

    

$ million

    

$ million

    

$ million

 

At 1 January 2017

 

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)

 

Net cash flow/debt movement

 

200

 

(18)

 

(118)

 

126

 

 8

 

(1)

 

197

 

Exchange adjustment

 

(4)

 

 –

 

(1)

 

(4)

 

(11)

 

 –

 

(20)

 

At 31 December 2018

 

365

 

(32)

 

(132)

 

(1,301)

 

(1)

 

(3)

 

(1,104)

 

Net cash flow/debt movement

 

(88)

 

12

 

125

 

(550)

 

 2

 

 –

 

(499)

 

Exchange adjustment

 

 –

 

 –

 

 1

 

 –

 

(1)

 

 3

 

 3

 

Net debt at 31 December 2019

 

277

 

(20)

 

(6)

 

(1,851)

 

 –

 

 –

 

(1,600)

 

IFRS 16 lease liabilities

 

 –

 

 –

 

(46)

 

(124)

 

 –

 

 –

 

(170)

 

Net debt including lease
liabilities at 31 December 2019

 

277

 

(20)

 

(52)

 

(1,975)

 

 –

 

 –

 

(1,770)

 

 

20 Cash flow statement continued

Reconciliation of net cash flow to movement in net debt including lease liabilities

 

 

 

 

 

 

 

 

 

  
2019

 
2018

 
2017

 

 

    

$ million

    

$ million

    

$ million

 

Net cash flow from cash net of overdrafts

 

(76)

 

182

 

113

 

Settlement of currency swaps

 

 2

 

 8

 

(24)

 

Net cash flow from borrowings

 

(425)

 

 7

 

147

 

Change in net debt from net cash flow

 

(499)

 

197

 

236

 

IFRS 16 lease liabilities

 

(170)

 

 –

 

 –

 

Termination of finance lease

 

 –

 

 –

 

 5

 

Exchange adjustment

 

 3

 

(20)

 

28

 

Change in net debt in the year

 

(666)

 

177

 

269

 

Opening net debt

 

(1,104)

 

(1,281)

 

(1,550)

 

Closing net debt including lease liabilities

 

(1,770)

 

(1,104)

 

(1,281)

 

 

Cash and cash equivalents

For the purposes of the Group cash flow statement cash and cash equivalents at 31 December 2019 comprise cash at bank net of bank overdrafts.

 

 

 

 

 

 

 

 

 

  
2019

 
2018

 
2017

 

 

     

$ million

    

$ million

    

$ million

 

Cash at bank

 

277

 

365

 

169

 

Bank overdrafts

 

(20)

 

(32)

 

(14)

 

Cash and cash equivalents

 

257

 

333

 

155

 

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 on the Group’s cash.

Cash outflows/(inflows) arising from financing activities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Repayment

 

Borrowing

 

Repayment

 

Cash

 

 

 

 

 

Proceeds from own

 

 

 

 

  

of bank

  

of bank

  

of lease

  

outflow

  

 

  

Purchase of

  

shares/issue of

  

 

 

 

 

loans

 

loans

 

liabilities

 

from other

 

Dividends

 

own shares

 

ordinary shares

 

Total

 

2019

 

$ million

 

$ million

 

$ million

 

$ million

 

$ million

 

$ million

 

$ million

 

$ million

 

Debt

 

865

 

(1,290)

 

46

 

 2

 

 –

 

 –

 

 –

 

(377)

 

Equity

 

 –

 

 –

 

 –

 

 –

 

318

 

63

 

(11)

 

370

 

Total

 

865

 

(1,290)

 

46

 

 2

 

318

 

63

 

(11)

 

(7)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

                

 

              

 

                

 

                

 

              

 

                 

 

                           

 

            

 

Debt

  

401

  

(394)

  

 –

  

 8

  

 –

  

 –

  

 –

  

15

 

Equity

 

 –

 

 –

 

 –

 

 –

 

321

 

48

 

(13)

 

356

 

Total

 

401

 

(394)

 

 –

 

 8

 

321

 

48

 

(13)

 

371

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017

 

                

 

              

 

                

 

                

 

              

 

                 

 

                           

 

            

 

Debt

  

770

  

(623)

  

 –

  

(24)

  

 –

  

 –

  

 –

  

123

 

Equity

 

 –

 

 –

 

 –

 

 –

 

269

 

52

 

(10)

 

311

 

Total

 

770

 

(623)

 

 –

 

(24)

 

269

 

52

 

(10)

 

434