John Lewis Partnership plc annual report and accounts 2013

Notes to the accounts continued

28 Analysis of net debt 

28 January 

Cash and cash equivalents 550.8 (16.4) – 534.4

Derivative financial instruments 2.7 – 1.5 4.2

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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)

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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)

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(825.6) (14.5) 89.5 (750.6)

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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)

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Movement in debt for the year 218.4 (27.5)

Opening net debt (577.3) (548.4)

Non-cash movements (13.0) (1.4)

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Closing net debt (371.9) (577.3)

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