Consolidated cash flow statement
Consolidated cash flows from operating activities for the year ended 31 December 2017
| For the year ended 31 December 2018 | Notes | 2018 £ million |
2017 £ million |
|---|---|---|---|
| Profit for the year | 1,808 | 1,902 | |
| Realised and unrealised (gains) on financial investments and investment properties | (23,132) | (25,024) | |
| Investment income | (10,182) | (9,953) | |
| Interest expense | 293 | 220 | |
| Tax expense | 210 | 377 | |
| Other adjustments | 183 | 154 | |
| Net (increase)/decrease in operational assets | |||
| Investments held for trading or designated as fair value through profit or loss | (10,381) | 11,794 | |
| Investments designated as available-for-sale | (248) | 277 | |
| Other assets | 1,258 | (2,344) | |
| Net (increase)/decrease in operational liabilities | |||
| Insurance contracts | 3,257 | (3,989) | |
| Investment contracts | (22,571) | (10,798) | |
| Other liabilities | 20,444 | 16,791 | |
| Net (decrease)/increase in held for sale liabilities | (8,500) | 12,139 | |
| Cash used in operations | (9,684) | (4,595) | |
| Interest paid | (215) | (221) | |
| Interest received | 4,841 | 4,528 | |
| Tax paid 1 | (504) | (497) | |
| Dividends received | 5,201 | 5,196 | |
| Net cash flows from operating activities | (361) | 4,411 | |
| Cash flows from investing activities | |||
| Net acquisition of plant, equipment, intangibles and other assets | (401) | (230) | |
| Investment in joint ventures and associates | (7) | (63) | |
| Net cash flows used in investing activities | (130) | (7) | |
| Cash flows from financing activities | |||
| Dividend distributions to ordinary equity holders of the company during the year | 3.05 | (932) | (872) |
| Issue of ordinary share capital | 4 | 7 | |
| Purchase of employee scheme shares (net) | 12 | 10 | |
| Proceeds from borrowings | 960 | 1,232 | |
| Repayment of borrowings | (325) | (600) | |
| Movement in non-controlling interests | - | (262) | |
| Net cash flows used in financing activities | (281) | (485) | |
| Net (decrease)/increase in cash and cash equivalents | (847) | 3,912 | |
| Exchange (losses)/gains on cash and cash equivalents | 16 | (19) | |
| Cash and cash equivalents at 1 January (before reallocation of held for sale cash) | 18,919 | 15,348 | |
| Total cash and cash equivalents | 18,088 | 19,241 | |
| Total cash and cash equivalents classified as held for sale | (767) | (322) | |
| Total cash and cash equivalents at 1 January (before reallocation of held for sale cash) | 18,919 | 15,438 | |
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