Group Statement of Cash Flows

For the year ended 31 December 2015

  Section 2015
US$m
2014
US$m
Cash flows from operating activities      
Loss before taxation   (497.8) (559.1)
 
Unsuccessful exploration costs
   
97.4
208.4
Depreciation and amortisation   3.4 3.3
Share-based payments charge   15.2 21.4
Impairment of intangible exploration/appraisal assets   17.9 46.9
Impairment of property, plant & equipment – development/producing assets   25.1
Gain on disposal of oil and gas assets   (26.6) (2.3)
Gain on disposal of available-for-sale financial assets   (3.9)
Inventory disposal/write down   (0.2) 8.4
Impairment of available-for-sale financial assets   318.6 194.3
Finance income   (19.8) (38.3)
Finance costs   20.3 34.7
Interest paid   (0.2) (0.5)
Income tax received from operating activities   23.6 30.0
Foreign exchange differences   (0.4) 8.8
Other receivables movement   4.3 4.3
Trade and other payables movement   6.1 (4.6)
Provisions movement   (2.4) 2.9

Net cash used in operating activities
  (15.5) (45.3)
 
Cash flows from investing activities
     
Expenditure on intangible exploration/appraisal assets   (208.4) (336.0)
Expenditure on property, plant & equipment – development/producing assets   (114.2) (39.8)
Income tax received from investing activities   28.2 36.0
Proceeds on disposal of oil and gas assets   54.7 31.4
Movement of inventory   0.8 (3.9)
Purchase of other property, plant & equipment and intangible assets   (2.1) (3.2)
Proceeds on disposal of available-for-sale financial assets   62.6
Movement in funds on bank deposits   0.2
Interest received   3.6 3.1

Net cash used in investing activities
  (237.4) (249.6)
 
Cash flows from financing activities
     
Cost of shares purchased   (64.3)
Facility, arrangement fees and bank charges   (6.3) (19.2)
Proceeds from exercise of share options   0.1 0.3
Repayment of borrowings   (53.4)

Net cash flows used in financing activities
  (6.2) (136.6)
 
Net decrease in cash and cash equivalents
   
(259.1)
(431.5)
Opening cash and cash equivalents at beginning of year   869.3 1,308.3
Exchange losses on cash and cash equivalents   (7.4) (7.5)

Closing cash and cash equivalents
 
3.2
602.8 869.3