John Lewis Partnership plc annual report and accounts 2013
Notes to the accounts continued
28 Analysis of net debt
28 January
2012
£m -
Cash flow
£m
-
Other
non-cash
movements
£m -
26 January
2013
£m
Current assets
Cash and cash equivalents 550.8 (16.4) – 534.4
Derivative financial instruments 2.7 – 1.5 4.2
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
553.5 (16.4) 1.5 538.6
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Current liabilities
Borrowings and overdrafts (302.1) 245.8 (100.0) (156.3)
Finance leases (0.6) 3.5 (5.9) (3.0)
Derivative financial instruments (2.5) – 1.9 (0.6)
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(305.2) 249.3 (104.0) (159.9)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Non-current liabilities
Borrowings (805.4) (14.5) 99.5 (720.4)
Unamortised bond transaction costs 6.2 – (0.5) 5.7
Finance leases (26.4) – (9.5) (35.9)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
(825.6) (14.5) 89.5 (750.6)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Total net debt (577.3) 218.4 (13.0) (371.9)
Reconciliation of net cash flow to net debt
Consolidated - Year to 26 January 2013 £m - Year to 28 January 2012 £m
(Decrease)/increase in cash in the year (12.6) 43.3
Cash outflow/(inflow) from decrease/(increase) in debt and lease financing 231.0 (70.8)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Movement in debt for the year 218.4 (27.5)
Opening net debt (577.3) (548.4)
Non-cash movements (13.0) (1.4)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Closing net debt (371.9) (577.3)
88
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