Integrated Annual Report 2014

Summarised consolidated statement of cash flows

FOR THE YEAR ENDED 31 DECEMBER 2014
Figures in million – SA rand 2014 2013 2012
CASH FLOWS FROM OPERATING ACTIVITIES
   
Cash generated by operations7,081.46,840.05,477.4
Post-retirement health care payments(2.4)(2.7)(1.2)
Cash-settled share-based payments paid(166.6)(3.9)
Change in working capital214.5568.7(648.0)
Cash generated from operating activities7,126.97,402.14,828.2
Interest received68.563.335.3
Interest paid(194.0)(326.3)(116.9)
Guarantee fees received53.647.0
Royalties paid(650.1)(249.0)(413.7)
Taxation paid(1,347.1)(304.8)(980.4)
Dividends paid(1,005.2)(271.9)(731.3)
Net cash from operating activities4,052.66,360.42,621.2
CASH FLOWS FROM INVESTING ACTIVITIES
   
Additions to property, plant and equipment(3,250.8)(2,901.5)(3,106.9)
Proceeds on disposal of property, plant and equipment22.66.95.2
Contributions to environmental rehabilitation obligation funds(69.3)(172.3)(24.3)
Payment of environmental rehabilitation obligation(10.9)(10.5)
Investment in subsidiary(415.3)
Loans granted to subsidiary prior to acquisition(238.6)
Cash acquired on acquisition of subsidiaries38.1
Loan advanced to equity-accounted investee(384.6)
Cash flow on loss of control of subsidiary5.9
Net cash used in investing activities(4,308.8)(3,071.5)(3,126.0)
CASH FLOWS FROM FINANCING ACTIVITIES
   
Proceeds from shares issued on unbundling17,245.8
Loans repaid(2,296.9)(9,840.0)
Loans raised1,623.67,620.04,220.0
Related-party loans repaid(17,108.0)(4,272.4)
Related-party loans raised486.2
Financing costs capitalised(9.1)
Proceeds on shares issued to non-controlling interests3.0
Net cash (used in)/flows from financing activities(673.3)(2,088.3)433.8
Net (decrease)/increase in cash and cash equivalents(929.5)1,200.6(71.0)
Cash and cash equivalents at the beginning of the year1,492.4291.8362.8
Cash and cash equivalents at the end of the year562.91,492.4291.8

The accompanying notes form an integral part of these consolidated financial statements.