26. Net debt
| 1 January 2003 £m |
Exchange differences £m |
Other non-cash movements £m |
Cash flow £m |
31 December 2003 £m |
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| Cash | ||||||
| Cash at bank and in hand | 799 | 10 | – | (136) | 673 | |
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| Liquid resources | ||||||
| Current asset investments | 43 | 7 | – | 20 | 70 | |
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| Debt financing | ||||||
| Loans due within one year | (847) | 56 | 63 | 197 | (531) | |
| Loans due after more than one year | (576) | (85) | (81) | 38 | (704) | |
| Convertible bonds | (231) | 23 | (4) | 12 | (200) | |
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| Total debt financing | (1,654) | (6) | (22) | 247 | (1,435) | |
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| Total net debt | (812) | 11 | (22) | 131 | (692) | |
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