Summary financial statements

Reed Elsevier combined businesses

Summary combined cash flow statement

for the year ended 31 December 2002
   2002
£m
 2001
£m
       2002
Eurom
 2001
Eurom


Net cash inflow from operating activities

Dividends received from joint ventures

Returns on investments and servicing of finance

Taxation
(including £20m/Euro32m)
(2001: £141m/Euro227m) exceptional inflow)

Capital expenditure and financial investment

Acquisitions and disposals

Equity dividends paid to shareholders of the parent companies

    


1,035

13

(205)


(134)

(48)

(196)

(273)

 


1,066

12

(114)


(37)

(228)

(2,140)

(255)

          


1,645

21

(326)


(213)

(76)

(312)

(434)

 


1,717

19

(184)


(60)

(367)

(3,445)

(411)

 


Cash inflow/(outflow) before changes in short term investments and financing

(Increase)/decrease in short term investments

Financing

    
192

(55)

(65)
 
(1,696)

1,169

537
          
305

(88)

(103)
 


(2,731)

1,882

865

 

Increase in cash
    
72
 
10
          
114
 
16
 

Adjusted operating cash flow
    
1,010
 
1,006
          
1,606
 
1,620
 

 

   
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