Page 74


Notes to the accounts

continued


27 Share capital

2010 2010 2009 2009
Authorised Issued and fully paid Authorised Issued and fully paid
£m £m £m £m

Equity
Deferred Ordinary Shares
612,000 of £1 each 0.6 0.6 0.6 0.6

0.6 0.6 0.6 0.6

The Deferred Ordinary Shares rank in all respects as equity shares except that each share has 1,000 votes in a vote taken on a poll.

The Deferred Ordinary Shares are held by John Lewis Partnership Trust Limited, with whom ultimate control rests.


28 Reconciliation of profit before tax to cash generated from operations

Year to 30 January 2010 Year to 31 January 2009 Restated
Consolidated £m £m

Profit before tax 155.3 281.6
Amortisation of intangible assets 24.4 21.0
Depreciation 189.9 181.1
Net finance costs 83.1 43.7
Partnership bonus provision 151.3 125.4
Profit on disposal of associate – (127.4)
Loss on disposal of tangible and intangible assets 2.1 0.6
Increase in inventories (46.7) (7.4)
(Increase)/decrease in receivables (24.2) 75.7
Increase/(decrease) in payables 118.1 (40.6)
(Decrease)/increase in retirement benefit obligations (10.4) 18.2
Increase in provisions 4.7 14.2

Cash generated from operations 647.6 586.1

Prior year figures have been restated in respect of the financing element of employee benefit schemes (long service leave), as explained in note 1.
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