Vector Annual Report 2021

VECTOR ANNUAL REPORT 2021 /

Notes to the Financial Statements

23. Cash flows 23.1 Reconciliation of net profit/(loss) to net cash flows from/(used in) operating activities

Reconciliation of net profit/(loss) to net cash flows from/(used in) operating activities

2021 $M

2020 $M

NOTE

194.6

Net prof it/(loss) for the period

97.3

Items classified as investing activities Items associated with investing activities Items classified as financing activities Items associated with lease liabilities

(8.1)

(10.0)

0.4

(1.0)

Non-cash items Depreciation and amortisation

270.1

262.8

(3.7)

Non-cash portion of interest costs (net) Fair value change on f inancial instruments Associates (share of net (prof it)/loss)

(7.0)

3.5

21.2

3.4

(1.8)

6

(0.3)

Impairment

32.0 27.4 11.2

27.4

Increase/(decrease) in deferred tax Increase/(decrease) in provisions Gain on sale of Kapuni gas interests

(5.4)

(0.5)

0.8

Other non-cash items

0.8

290.9

329.8

Changes in assets and liabilities Trade and other payables

14.1

2.9

3.3

Contract liabilities Contract assets

(0.3)

(12.9)

12.7

(3.0)

Inventories

(1.0)

5.9

Trade and other receivables

6.9

13.9 21.3

Income tax

(40.0) (18.8)

Net cash flows from/(used in) operating activities

499.1

397.3

23.2 Reconciliation of movement of liabilities to cash flows arising from financing activities

Reconciliation of movement of liabilities to cash flows arising from financing activities

LEASE LIABILITIES $M

BORROWINGS $M

DERIVATIVES $M

TOTAL $M

Balance at 1 July 2020

37.8

3,135.6

(115.5)

3,057.9

180.0

– – – –

180.0

Net draw downs

(11.0) (11.0)

(11.0)

Lease liabilities payments Financing cash flows

180.0

169.0

– – – – –

(1.0)

(1.0)

Cost of debt raising Fair value changes Borrowing fees paid

(245.2)

177.8

(67.4)

(5.5)

– – – – –

(5.5)

7.6

7.6

Amortisation of debt raising costs

(0.9)

(0.9)

Premium released ROU asset additions

10.3

– –

10.3

0.3

0.3

Other

As at 30 June 2021

37.4

3,070.6

62.3

3,170.3

Policies

Cash and cash equivalents are carried at amortised cost. Cash and cash equivalents include deposits that are on call.

86

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