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Group cash flow statement - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Profit before taxation $ 498 $ 290 $ 235
Net interest expense 121 98 66
Depreciation, amortisation and impairment 645 683 617
Loss on disposal of property, plant and equipment and software 22 18 11
Share-based payments expense (equity-settled) 40 39 40
Share of results of associates 10 30 141
Pension costs less cash paid 16 3 6
Increase in inventories (42) (178) (407)
Increase in trade and other receivables (81) (49) (103)
Decrease/(increase) in trade and other payables and provisions 16 (105) (25)
Cash generated from operations 1,245 829 581
Interest received 22 8 7
Interest paid (140) (104) (73)
Income taxes paid (140) (125) (47)
Net cash inflow from operating activities 987 608 468
Cash flows from investing activities      
Acquisitions, net of cash acquired (186) (21) (113)
Capital expenditure (381) (427) (358)
Purchase of investments (1)   (2)
(Investment in)/distribution from associate (1)   1
Net cash used in investing activities (569) (448) (472)
Cash flows from financing activities      
Proceeds from issue of ordinary share capital     1
Purchase of own shares     (158)
Payment of capital element of lease liabilities (55) (52) (54)
Proceeds from borrowings due within one year   326  
Settlement of borrowings due within one year (705) (151) (407)
Proceeds from borrowings due after one year 1,000   485
Settlement of borrowings due after one year     (474)
Proceeds from own shares 1   5
Settlement of currency swaps   4 3
Equity dividends paid (327) (327) (327)
Net cash used in financing activities (86) (200) (926)
Net increase/(decrease) in cash and cash equivalents 332 (40) (930)
Cash and cash equivalents at beginning of year 300 [1] 344 [1] 1,285
Exchange adjustments (15) (4) (11)
Cash and cash equivalents at end of year [1] $ 617 $ 300 $ 344
[1] Cash and cash equivalents is net of bank overdrafts of $2m (2023: $2m, 2022: $6m).