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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