Notes to the consolidated cash flow statement for the year ended 30 June 2013
A.
CASH GENERATED BY OPERATIONS Operating profit Adjusted for: Depreciation and amortisation Loss on disposal of property, plant and equipment Movement in retirement benefit obligations Movement in derivative financial instruments – non-cash flow hedges Fair value adjustment in biological assets Unrealised foreign exchange gains Share-based payments – BEE charge Share-based payments – Employee Share Option Scheme Cash flow hedges released Other non-cash flow items
Working capital changes: Movement in inventories Movement in biological assets Movement in trade and other receivables Movement in trade and other payables
B.
TAX PAID Amount refundable at the beginning of the year Acquisition of subsidiary Charged to the income statement Normal tax Prior year over provision Secondary tax on companies Amount refundable at the end of the year
C.
D.
ACQUISITION OF SUBSIDIARY/BUSINESS COMBINATION Cash paid for subsidiary Cash acquired from business
2012 R’000
166 027
414 224
278 294 1 906 6 677 17 685 (1 513) 14 630 3 336 21 128 2 737 5 905
200 286 427 6 425 (24 277) 2 767
516 812
621 788
(58 176) (59 119) 109 106 160 656
(208 236) (33 968) (88 119) 214 904
152 467
(115 419)
669 279
506 369
29 505 (149) (59 312)
40 875
3 383 18 553
(83 012)
(59 157) (155)
(60 930) 2 642 (24 724)
(30 982)
(29 505)
(60 938)
(71 642)
(1 026 225) 279 217
(92 500)
(747 008)
(92 500)
CASH AND CASH EQUIVALENTS Cash and cash equivalents include restricted balances of R39,2 million (2012: R29,7 million). Restricted cash balances consist of initial margin balances with the JSE Limited which serve as collateral for derivative positions held at year-end. This cash will only be accessible by the Group when the related derivative positions are closed. Certain cash and cash equivalents have been pledged as security for certain borrowings (refer to note 15). The carrying amount of cash and cash equivalents approximates their fair value.
64
2013 R’000
// RCL INTEGRATED ANNUAL REPORT 2013