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Condensed consolidated cash flow statement
| for the year ended 30 September | ||||
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| R million | 2009 |
2008 |
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| CASH FLOWS FROM OPERATING ACTIVITIES | ||||
| Operating cash flows before movements in working capital | 3 587 |
5 281 |
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| Operating cash flows – continuing operations | 3 403 |
4 914 |
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| Operating cash flows – discontinued operations | 184 |
367 |
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| Decrease/(increase) in working capital | 882 |
(1 547) |
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| Cash generated from operations | 4 469 |
3 734 |
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| Finance costs | (994) |
(980) |
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| Realised fair value adjustments on financial instruments | (180) |
(157) |
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| Dividends received from investments and associates | 14 |
26 |
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| Interest received | 146 |
188 |
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| Taxation paid | (603) |
(830) |
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| Cash flow from operations | 2 852 |
1 981 |
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| Dividends paid (including minority shareholders) | (434) |
(622) |
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| Cash retained from operating activities | 2 418 |
1 359 |
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| CASH FLOWS FROM INVESTING ACTIVITIES | ||||
| Acquisition of subsidiaries, investments and intangibles | 219 |
(996) |
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| Proceeds on disposal of subsidiaries, investments and intangibles | 7 |
1 098 |
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| Net investment in fleet leasing and rental assets | (707) |
(1 904) |
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| Acquisition of other property, plant and equipment | (910) |
(973) |
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| Replacement capital expenditure | (522) |
(305) |
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| Expansion capital expenditure | (388) |
(668) |
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| Proceeds on disposal of property, plant and equipment | 180 |
169 |
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| Net cash used in investing activities | (1 211) |
(2 606) |
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| Net cash inflow/(outflow) before financing activities | 1 207 |
(1 247) |
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| CASH FLOWS FROM FINANCING ACTIVITIES | ||||
| Proceeds on share issue | 12 |
23 |
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| Pension fund payment | (759) |
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| Proceeds from long-term borrowings | 4 379 |
3 298 |
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| Repayment of long-term borrowings | (4 328) |
(1 285) |
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| (Decrease)/increase in short-term interest-bearing liabilities | (710) |
70 |
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| Net cash (used in)/from financing activities | (647) |
1 347 |
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| Net increase in cash and cash equivalents | 560 |
100 |
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| Cash and cash equivalents at beginning of year | 1 238 |
1 201 |
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| Cash and cash equivalents held for sale at beginning of year | 31 |
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| Effect of foreign exchange rate movement on cash balance | (57) |
54 |
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| Effect of cash balances classified as held for sale | (145) |
(31) |
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| Effect of unbundling Coatings on cash balance | (86) |
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| Cash and cash equivalents at end of year | 1 627 |
1 238 |
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| Cash balances not available for use due to reserving restrictions | 360 |
292 |
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| Acquisition of subsidiaries, investments and | ||||
| intangibles: | ||||
| Inventories acquired | 335 |
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| Receivables acquired | 327 |
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| Payables, taxation and deferred taxation acquired | (526) |
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| Borrowings net of cash | (256) |
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| Property, plant and equipment, non-current assets, intangibles and | ||||
| minority shareholders | 532 |
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| Total net assets acquired | 412 |
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| Less: Existing share of net assets of associates before acquisition | (234) |
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| Net assets acquired | 178 |
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| Goodwill arising on acquisitions | 566 |
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| Total purchase consideration | 744 |
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| Less: Non-cash purchase consideration | (33) |
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| Net cash cost of subsidiaries acquired | 711 |
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| Investments and intangible assets acquired | (219) |
285 |
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| Cash amounts (received from)/paid to acquire subsidiaries, | ||||
| investments and intangibles | (219) |
996 |
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