Preliminary results for the year ended 28 January 2012
Notes to the consolidated financial statement
11. Net debt
| £ millions | 2011/12 | 2010/11 |
|---|---|---|
| Cash and cash equivalents | 587 | 731 |
| Bank overdrafts | (102) | (95) |
| Cash and cash equivalents and bank overdrafts | 485 | 636 |
| Bank loans | (98) | (104) |
| Medium Term Notes and other fixed term debt | (478) | (504) |
| Financing derivatives | 67 | 56 |
| Finance leases | (64) | (70) |
| Net (debt)/cash | (88) | 14 |
| £ millions | 2011/12 | 2010/11 |
| Net cash/(debt) at beginning of year | 14 | (250) |
| Net decrease in cash and cash equivalents and bank overdrafts | (118) | (490) |
| Repayment of bank loans | 10 | 57 |
| Repayment of Medium Term Notes and other fixed term debt | 30 | 696 |
| Payment/(receipt) on financing derivatives | 5 | (6) |
| Capital element of finance lease rental payments | 16 | 12 |
| Cash flow movement in net debt | (57) | 269 |
| Exchange differences and other non-cash movements | (45) | (5) |
| Net (debt)/cash at end of year | (88) | 14 |
