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29 Analysis of net debt


31 January 2009 Cash flow Other non-cash movements 30 January 2010
£m £m £m £m

Current assets
Cash and cash equivalents 197.6 362.4 – 560.0
Derivative financial
instruments 23.4 – (9.8) 13.6

221.0 362.4 (9.8) 573.6

Current liabilities
Bank overdrafts (75.8) (39.8) – (115.6)
Finance leases (0.6) 0.6 (0.7) (0.7)
Derivative financial instruments – – (2.4) (2.4)

(76.4) (39.2) (3.1) (118.7)

Non-current liabilities
Borrowings (532.4) (286.5) – (818.9)
Unamortised bond transaction costs – 2.3 0.5 2.8
Fair value adjustment for
hedged risk on bonds (15.4) – 2.7 (12.7)
Finance leases (29.2) – 0.7 (28.5)

(577.0) (284.2) 3.9 (857.3)

Total net debt (432.4) 39.0 (9.0) (402.4)

Reconciliation of net cash flow to net debt

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

Increase in cash in the year 322.6 58.6
Cash inflow from increase in debt and lease financing (283.6) (113.4)

Movement in debt for the year 39.0 (54.8)
Opening net debt (432.4) (384.2)
Non-cash movements (9.0) 6.6

Closing net debt (402.4) (432.4)