Financial Report
CONSOLIDATED CASH FLOW STATEMENT
for the year ended 30 June 2006
| CONSOLIDATED | ||
| 2006 $m |
2005 $m |
|
|---|---|---|
| Cash flows from operating activities | ||
| Premium received | 6,530 | 6,610 |
| Reinsurance and other recoveries received | 589 | 452 |
| Claims costs paid | (4,423) | (4,179) |
| Reinsurance expense paid | (434) | (394) |
| Dividends received | 85 | 93 |
| Interest and trust distributions received | 415 | 412 |
| Finance costs paid | (82) | (62) |
| Income taxes refunded | 8 | 4 |
| Income taxes paid | (497) | (315) |
| Other operating receipts | 1,051 | 1,036 |
| Other operating payments | (2,855) | (2,736) |
| Net cash flows from operating activities | 387 | 921 |
| Cash flows from investing activities | ||
| Net cash flows on acquisition of subsidiaries | (92) | (7) |
| Proceeds from disposal of investments and property, plant and equipment | 19,503 | 19,987 |
| Outlays for investments and property, plant and equipment acquired | (18,591) | (20,137) |
| Repayment of premium funding loans | 448 | 375 |
| Advances of premium funding loans | (446) | (414) |
| Net cash flows from investing activities | 822 | (196) |
| Cash flows from financing activities | ||
| Outlays for purchase of treasury shares | (19) | (13) |
| Proceeds from issue of trust units | 1,152 | 2,035 |
| Outlays for redemption of trust units | (1,288) | (2,163) |
| Proceeds from issue of reset exchangeable securities, net of transaction costs | – | 537 |
| Outlays to acquire Portfolio | – | (550) |
| Proceeds from other borrowings inclusive of costs | – | 9 |
| Repayment of borrowings | (46) | (9) |
| Dividends paid to IAG equity holders | (647) | (442) |
| Dividends paid to minority interests | (89) | (96) |
| Net cash flows from financing activities | (937) | (692) |
| Net movement in cash held | 272 | 33 |
| Effects of exchange rate changes on balances of cash held in foreign currencies | (10) | (1) |
| Cash and cash equivalents at the beginning of the financial year | 456 | 424 |
| Cash and cash equivalents at the end of the financial year | 718 | 456 |
The above consolidated cash flow statement should be read in conjunction with the notes to the concise financial statements.
IAG Annual Report 2005
IAG Annual Report 2004
www.iag.com.au
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