Five-year consolidated statement of cash flows
for the year ended 31 August 2011

R’m 5-year
aggregate
effect		 2011 2010 2009 2008 2007
Cash effects of operating activities            
Operating profit before working capital changes 4 081 1 075 837 825 722 622
Working capital changes 480 (105) (203) 490 (223) 521
Cash generated by operations 4 561 970 634 1 315 499 1 143
Interest received 65 8 9 14 19 15
Interest paid (219) (29) (35) (43) (60) (52)
Taxation (paid)/received (831) (272) (175) (229) (193) 38
Cash inflow from operating activities before distributions 3 576 677 433 1 057 265 1 144
Distributions paid to shareholders (1 010) (296) (245) (191) (157) (121)
Net cash effects of operating activities 2 566 381 188 866 108 1 023
Cash effects of investing activities            
Investment in property, plant and equipment and intangible assets to maintain operations (431) (70) (86) (110) (89) (76)
Investment in property, plant and equipment and intangible assets to expand operations (544) (146) (120) (114) (85) (79)
Proceeds from disposal of business 316 – – – 316 –
Acquisition of business, net of cash acquired (44) (10) (22) (10) (2) –
Acquisition of remaining interest in subsidiary (3) – (3) – – –
Proceeds from disposal of property, plant and equipment 89 2 2 2 35 48
Decrease in loans receivable 60 15 19 15 7 4
Net cash effects of investing activities (557) (209) (210) (217) 182 (103)
Cash effects of financing activities            
Proceeds from the issue of share capital 2 – – – – 2
Purchase of treasury shares (2 377) (552) (322) (338) (607) (558)
Proceeds from disposal of treasury shares 225 3 15 42 44 121
Interest-bearing borrowings raised/(repaid) 166 243 71 (44) (39) (65)
Net cash effects of financing activities (1 984) (306) (236) (340) (602) (500)
Net (decrease)/increase in cash and cash equivalents 25 (134) (258) 309 (312) 420
Notes:            
1. The 2007 statement of cash flows presents the group statement of financial position including the Discom assets and liabilities rather than as part of non-current assets and liabilities held for sale. The Discom business unit was disposed of during September 2007.
2. For an explanation of terms used, please refer to the Definitions section on this report.

 

US Dollars ’m 5-year
aggregate
effect		 2011 2010 2009 2008 2007
Cash effects of operating activities            
Operating profit before working capital changes 545 156 115 91 97 86
Working capital changes 54 (15) (28) 56 (31) 72
Cash generated by operations 599 141 87 147 66 158
Interest received 9 1 1 2 3 2
Interest paid (29) (4) (5) (5) (8) (7)
Taxation (paid)/received (109) (39) (24) (25) (26) 5
Cash inflow from operating activities before distributions 470 99 59 119 35 158
Distributions paid to shareholders (137) (44) (34) (21) (21) (17)
Net cash effects of operating activities 333 55 25 98 14 141
Cash effects of investing activities            
Investment in property, plant and equipment and intangible assets to maintain operations (57) (10) (12) (12) (12) (11)
Investment in property, plant and equipment and intangible assets to expand operations (73) (21) (17) (13) (11) (11)
Proceeds from disposal of business 43 – – – 43 –
Acquisition of business, net of cash acquired (5) (1) (3) (1) – –
Proceeds from disposal of property, plant and equipment 12 – – – 5 7
Decrease in loans receivable 9 2 3 2 1 1
Net cash effects of investing activities (71) (30) (29) (24) 26 (14)
Cash effects of financing activities            
Proceeds from the issue of share capital – – – – – –
Purchase of treasury shares (321) (80) (44) (37) (82) (78)
Proceeds from disposal of treasury shares 30 – 2 5 6 17
Interest-bearing borrowings raised/ (repaid) 27 36 10 (5) (5) (9)
Net cash effects of financing activities (264) (44) (32) (37) (81) (70)
Net (decrease)/increase in cash and cash equivalents (2) (19) (36) 37 (41) 57
Exchange rate: average rate   6.91 7.27 9.05 7.41 7.20
Note:            

1. The ZAR five-year consolidated statement of cash flows was translated to USD using the average rate.