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Consolidated cash flow statement
for the year ended 31 December 2009

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US$ million Note 2009 2008
Cash inflows from operations 30a 4,904 9,579
Dividends from associates   616 609
Dividends from financial asset investments   23 50
Income tax paid   (1,456) (2,173)
Net cash inflows from operating activities   4,087 8,065

     
Cash flows from investing activities      
Acquisition of subsidiaries, net of cash and cash equivalents acquired(1) 32 (79) (5,887)
Investment in joint ventures 32 (5) (609)
Investment in associates   (31) (9)
Cash flows from derivatives related to acquisitions   - (661)
Purchase of tangible assets 2 (4,607) (5,146)
Purchase of financial asset investments   (269) (741)
Investment of advance received in anticipation of disposal(2)   - (281)
Loans granted   (134) (108)
Interest received and other investment income   244 291
Disposal of subsidiaries, net of cash and cash equivalents disposed 33 69 468
Sale of interests in associates   662 205
Repayment of loans and capital by associates   - 42
Proceeds from disposal of tangible assets   46 30
Proceeds from sale of financial asset investments   2,041 851
Cash flows from derivatives related to investing activities (excluding acquisitions)   (150) (166)
Other investing activities   (10) (29)
Net cash used in investing activities   (2,223) (11,750)

     
Cash flows from financing activities      
Issue of shares by subsidiaries to minority interests   96 62
Sale of treasury shares to employees   29 40
Purchase of treasury shares   (75) (710)
Interest paid   (741) (741)
Dividends paid to minority interests   (472) (796)
Dividends paid to Company shareholders   - (1,550)
(Repayment)/receipt of short term borrowings   (6,624) 1,432
Net proceeds from issue of convertible bond   1,685 -
Net proceeds from issue of US bond   1,992 -
Net proceeds from bonds issued under EMTN programme   2,215 2,404
Receipt of other medium and long term borrowings   361 2,777
Cash flows from derivatives related to net debt   (85) 380
Advance received in anticipation of disposal(2)   - 307
Other financing activities   14 (63)
Net cash (used in)/inflows from financing activities   (1,605) 3,542
Net increase/(decrease) in cash and cash equivalents   259 (143)

     
Cash and cash equivalents at start of year 30c 2,744 3,074
Cash movements in the year   259 (143)
Effects of changes in foreign exchange rates   316 (187)
Cash and cash equivalents at end of year 30c 3,319 2,744
(1)
Includes amounts paid to acquire minority interests in subsidiaries.
(2)
Advance received in the year ended 31 December 2008 in respect of anticipated disposal of the Group's 50% interest in the Booysendal joint venture, invested in unlisted preference shares and an escrow account, pending completion of the transaction which occurred in June 2009. Following completion of the transaction the preference shares were sold and the proceeds are shown within 'Proceeds from sale of financial asset investments'. At 31 December 2009 a further amount of $72 million remains in an escrow account pending completion of documentation.

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Annual Report 2009