Audited condensed results for the year ended 30 June 2012

Condensed consolidated statement of cash flows

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for the year ended 30 June   Audited
2012
Rm
  Audited
2011
Rm
 
Cash flows from operating activities          
Cash generated by operations before movements in working capital   8 198   6 375  
Movements in net working capital   (758)   (298)  
Cash generated by operations before net capital expenditure on rental assets   7 440   6 077  
Expansion capital expenditure – rental assets   (352)   (157)  
Net replacement capital expenditure – rental assets   (505)   (174)  
– Expenditure   (2 120)   (1 900)  
– Proceeds   1 615   1 726  
           
Cash generated by operations   6 583   5 746  
Net financing costs   (681)   (563)  
Tax paid   (1 522)   (1 221)  
    4 380   3 962  
Cash flows from investing activities          
Net acquisition of subsidiaries and businesses   (1 868)   (943)  
Expansion capital expenditure – excluding rental assets   (773)   (530)  
Net replacement capital expenditure – excluding rental assets   (962)   (667)  
Proceeds from the sale of Imperial Bank Limited       477  
Dividend received from Ukhamba Holdings (Pty) Limited   387      
Net movement in other associates and joint ventures   (94)   78  
Net movement in investments, loans and other non-current financial instruments   (63)   (15)  
    (3 373)   (1 600)  
Cash flows from financing activities          
Hedge cost premium paid   (105)   (205)  
Repurchase of ordinary shares       (156)  
Cost incurred on cancellation of shares repurchased       (8)  
Repayment of IPL 3 and IC 01 corporate bonds       (2 026)  
Proceeds from the issuance of IPL 5 and IPL 6 corporate bonds       2 034  
Repayment of IC 02 corporate bonds   (522)      
Proceeds on the syndicated bank term loan raised   2 482      
Net decrease in interest-bearing borrowings   (1 432)   (225)  
Change in non-controlling interests   (177)   (51)  
Dividends paid   (1 350)   (983)  
    (1 104)   (1 620)  
Net (decrease) increase in cash and cash equivalents   (97)   742  
Cash and cash equivalents at beginning of year   2 926   2 184  
Cash and cash equivalents at end of year
  2 829   2 926