Statements of cash flows

for the year ended 31 March 2014

			Group				Company
	Note		2014 Rm		Restated1 2013 Rm		2014 Rm		2013 Rm
Cash flows from operating activities
Cash generated from operations	43		20 633		28 784		19 150		28 847
Net cash flows (used in)/from financial trading assets			(1 471)		1 701		(1 250)		1 743
Net cash flows from/(used in) financial trading liabilities			4 383		(2 317)		4 383		(2 317)
Net cash flows from/(used in) current derivatives held for risk management			10 278		(331)		10 278		(331)
Net cash flows (used in)/from non-current assets held-for-sale	21		(23)		48		–		–
Income taxes paid			(184)		(216)		–		–
Net cash from operating activities			33 616		27 669		32 561		27 942
Cash flows used in investing activities
Proceeds from disposal of property, plant and equipment			28		36		23		10
Acquisitions of property, plant and equipment			(52 137)		(53 445)		(52 658)		(53 742)
Acquisitions of intangible assets			(1 023)		(1 887)		(953)		(1 820)
Expenditure on future fuel supplies			(2 675)		(2 533)		(2 675)		(2 533)
Decrease/(increase) in non-current trade and other receivables			434		(136)		(6)		10
Increase in non-current loans receivable			(229)		(990)		–		–
Decrease in finance lease receivables			17		37		17		37
Net cash flows from non-current assets held-for-sale	21		7		46		–		–
Dividends received			27		34		21		16
Dividends received – investment in equity-accounted investees			21		–		–		–
(Decrease)/increase in non-current trade and other payables			(1 677)		479		(369)		(85)
Net cash used in investing activities			(57 207)		(58 359)		(56 600)		(58 107)
Cash flows from financing activities
Debt securities and borrowings raised			44 142		31 120		43 681		31 072
Debt securities and borrowings repaid			(8 014)		(7 149)		(7 488)		(7 064)
Net cash flows from/(used in) net loans to subsidiaries			–		–		32		(290)
Decrease in investment in securities			5 748		5 047		6 058		4 988
Decrease in finance lease liabilities			(11)		(31)		(58)		(72)
Interest received			2 768		2 765		2 884		2 891
Interest paid			(11 838)		(9 968)		(11 856)		(9 925)
Net cash from financing activities			32 795		21 784		33 253		21 600
Net increase/(decrease) in cash and cash equivalents			9 204		(8 906)		9 214		(8 565)
Cash and cash equivalents at beginning of the year			10 620		19 450		9 830		18 395
Foreign currency translation			(23)		(49)		–		–
Cash and cash equivalents at beginning of the year attributable to non-current assets held-for-sale			(125)		125		–		–
Cash and cash equivalents at end of the year	20		19 676		10 620		19 044		9 830
Reconciliation of net cash flow to movement in net debt
Net increase in debt securities and borrowings			36 128		23 971		36 193		24 008
Net cash flows from/(used in) net loans to subsidiaries			–		–		32		(290)
Decrease in investment in securities			5 748		5 047		6 058		4 988
Increase in loans receivable			(459)		(1 034)		–		–
Decrease in finance lease liabilities			(11)		(31)		(58)		(72)
Net cash flows from/(used in) derivatives held for risk management			10 278		(331)		10 278		(331)
Net debt raised			51 684		27 622		52 503		28 303
Non-cash flow movements			1 416		(13 223)		1 374		(13 151)
Foreign currency translation			23		49		–		–
Cash and cash equivalents at beginning of the year attributable to non-current assets held-for-sale			125		(125)		–		–
Net (increase)/decrease in cash and cash equivalents			(9 204)		8 906		(9 214)		8 565
Movement in net debt for the year			44 044		23 229		44 663		23 717
Net debt at beginning of the year			161 044		137 815		166 840		143 123
Net debt at end of the year			205 088		161 044		211 503		166 840
Analysis of net debt
Debt securities and borrowings	24		254 820		202 956		252 816		200 888
Finance lease liabilities	29		500		511		769		826
Net loans to subsidiaries			–		–		(4 212)		(4 220)
Derivatives held for risk management	14		(10 666)		(5 914)		(10 666)		(5 914)
			244 654		197 553		238 707		191 580
Cash and cash equivalents	20		(19 676)		(10 620)		(19 044)		(9 830)
Investment in securities	12		(10 907)		(17 350)		(8 160)		(14 910)
Loans receivable	13		(8 983)		(8 539)		–		–
Net debt at end of the year			205 088		161 044		211 503		166 840