Consolidated cash flow statement

For the year ended 31 December 2010

	Notes	2010 £m	2009 £m
Cash flows from operating activities
Cash inflows from operations	28	232.5	199.1
Income taxes paid		(47.6)	(34.2)
Net cash inflow from operating activities		184.9	164.9
Investing activities
Interest received		6.4	8.2
Dividends received from associates		0.1	0.2
Net cash paid on purchase of subsidiary undertakings		(81.8)	(12.6)
Cash impact on disposal of subsidiary		(8.1)	2.7
Net cash paid on purchase of associated undertakings and joint ventures		(36.0)	–
Proceeds from disposal of associated undertakings		–	2.4
Payments of deferred consideration on prior period acquisitions		(38.8)	(60.9)
Purchase of property, plant and equipment and intangible assets		(29.4)	(27.4)
Proceeds from disposal of property, plant and equipment and intangible assets		1.3	1.4
Other investing activities		(2.3)	–
Net cash outflows from investing activities		(188.6)	(86.0)
Financing activities
Dividends paid to equity holders of the parent		(29.4)	(28.5)
Dividends paid to non-controlling shareholders		(2.2)	(3.2)
Interest paid		(33.0)	(26.9)
Proceeds from borrowings		230.2	192.3
Repayments of loans		(159.6)	(215.5)
Proceeds on issue of ordinary share capital		7.2	2.1
Purchase of own shares		(16.8)	–
Other financing activities		(2.2)	(1.2)
Net cash outflows from financing activities		(5.8)	(80.9)
Net decrease in cash and cash equivalents	28	(9.5)	(2.0)
Translation differences		14.7	(19.5)
Cash and cash equivalents at beginning of year		386.2	407.7
Cash and cash equivalents at end of year	28	391.4	386.2
Represented by:
Cash and short-term deposits		394.4	391.1
Bank overdrafts		(3.0)	(4.9)
Cash and cash equivalents at end of year	28	391.4	386.2

Analysis of net debt /

	1 January 2010 £m	Cash flow £m	Other non-cash movements £m	Exchange movements £m	31 December 2010 £m
Cash and cash equivalents	386.2	(9.5)	–	14.7	391.4
Gross debt net of issue costs	(643.4)	(70.6)	14.5	(23.2)	(722.7)
Total	(257.2)	(80.1)	14.5	(8.5)	(331.3)