CSL Ltd Annual Report 2020

Consolidated Statement of Cash Flows For the Year Ended 30 June 2020 CSL Limited Annual Report 2020 99 The format of the consolidated statement of cash flows was changed to the indirect method of presentation for the cash flows from operating activities. The prior comparative period was changed to align to the new format, which is informative in showing the impact of changes in the balance sheet on cash flows. Consolidated Entity Notes 2020 US$m 2019 US$m Cash Flows from Operating Activities Profit before income tax expense 2,572.7 2,341.1 Adjustments for: Depreciation and amortisation 419.8 375.5 Inventory provisions 189.5 191.3 Share-based payments expense 81.0 52.0 Bad debt provision 10.1 (3.5) Finance costs 142.4 127.8 Loss (gain) on disposal of property, plant and equipment 0.5 (0.8) Changes in operating assets and liabilities: Decrease/(increase) in trade and other receivables 124.9 (367.1) Increase in inventories (686.0) (558.3) Increase in trade and other payables 157.8 136.2 (Decrease)/increase in provisions and other (27.0) 18.6 Income tax paid (355.0) (527.7) Finance costs paid (142.4) (140.7) Net cash inflow from operating activities 2,488.3 1,644.4 Cash flows from Investing Activities Payments for property, plant and equipment (1,206.8) (1,117.6) Payments for intangible assets (160.8) (167.2) Payment for business acquisition (Net of cash acquired) (17.8) – Receipts/(payments) from other investing activities 18.7 (2.5) Net cash outflow from investing activities (1,366.7) (1,287.3) Cash flows from Financing Activities Proceeds from issue of shares 42.0 31.8 Dividends paid 10 (883.1) (806.8) Proceeds from borrowings 11 1,652.7 898.5 Repayment of borrowings 11 (1,399.2) (610.2) Principal payments of AASB 16 lease liabilities (54.7) – Other financing activities (0.4) (4.8) Net cash (outflow)/inflow from financing activities (642.7) (491.5) Net (decrease)/increase in cash and cash equivalents 478.9 (134.4) Cash and cash equivalents at the beginning of the financial year 657.8 812.7 Exchange rate variations on foreign cash and cash equivalent balances 14.6 (20.5) Cash and cash equivalents at the end of the period 1,151.3 657.8 Reconciliation of cash and cash equivalents Cash and cash equivalents at the end of the period as shown in the statement of cash flows is reconciled as follows: Cash and cash equivalents 1,194.4 657.8 Bank overdrafts (43.1) – Cash and cash equivalents at the end of the period 1,151.3 657.8 The consolidated statement of cash flows should be read in conjunction with the accompanying notes.