Stock Analysis on Net

GlaxoSmithKline PLC (NYSE:GSK)

This company has been moved to the archive! The financial data has not been updated since February 27, 2015.

Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

GlaxoSmithKline PLC, consolidated cash flow statement

US$ in millions, translated from GBP £

Microsoft Excel
12 months ended: Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010
Profit after tax 4,781 9,327 7,715 8,480 2,852
Tax on profits 231 1,689 3,168 3,480 2,007
Share of after tax profits of associates and joint ventures (51) (71) (47) (23) (125)
Finance income net of finance expense 1,113 1,170 1,186 1,102 1,101
Depreciation 1,317 1,213 1,416 1,388 1,764
Amortization of intangible assets 1,189 1,130 933 823 820
Impairment and assets written off 346 1,538 1,064 538 633
Profit on sale of businesses (2,206)
Profit on sale of intangible assets (431) (129) (1,060) (367) (182)
Profit on sale of investments in associates (467) (909) (12)
Profit on sale of equity investments (252) (60) (26) (16) (26)
(Increase) decrease in inventories (893) (157) 60 (244) 366
(Increase) decrease in trade receivables 586 27 298 298 1,393
(Increase) decrease in other receivables 160 (361) (44) (107) 9
Increase (decrease) in trade payables 154 207 288 687 237
Increase (decrease) in other payables 1,179 651 215 3 (276)
Increase (decrease) in pension and other provisions (69) (273) (4,767) (3,389) 2,544
Changes in working capital 1,116 93 (3,950) (2,752) 4,274
Share-based incentive plans 561 529 358 308 276
Fair value adjustments 529 (20) (935) (16) 9
Other 162 350 15 (53) (106)
Adjustments reconciling profit after tax to operating cash flows 5,832 4,758 2,121 3,504 10,433
Cash generated from operations 10,613 14,085 9,836 11,984 13,285
Taxation paid (1,871) (2,116) (2,721) (2,273) (2,823)
Interest received 106 98 49 151 165
Dividends from associates and joint ventures 8 30 75 39 28
Interest paid (1,194) (1,241) (1,267) (1,195) (1,193)
Net cash inflow from operating activities 7,663 10,855 5,972 8,706 9,461
Purchase of property, plant and equipment (2,006) (1,969) (1,709) (1,434) (1,561)
Proceeds from sale of property, plant and equipment 66 76 111 155 142
Purchase of intangible assets (951) (850) (763) (629) (956)
Proceeds from sale of intangible assets 557 225 1,717 368 194
Purchase of equity investments (140) (220) (372) (118) (429)
Proceeds from sale of equity investments 346 98 46 106 42
Purchase of businesses, net of cash acquired (176) (409) (3,635) (410) (545)
Disposal of businesses 380 3,068
Investments in associates and joint ventures (15) (13) (161) (54) (94)
Proceeds from disposal of subsidiary and interest in associate 2 711 1,607
Decrease (increase) in liquid investments 2 25 364 47 140
Net cash (outflow) inflow from investing activities (1,935) 741 (4,402) (364) (3,068)
Proceeds from own shares for employee share options 94 70 26
Shares acquired by ESOP Trusts (160) (75) (60) (56) (25)
Issue of share capital 282 970 579 388 95
Purchase of own shares for cancellation or to be held as Treasury shares (402) (2,493) (4,054) (3,404)
Purchase of non-controlling interests (1,147) (974) (23)
Increase in long-term loans 3,310 3,170 7,204
Increase in short-term loans 2,835 70 9
Repayment of short-term loans (2,886) (3,102) (4,162) (12) (1,995)
Net repayment of obligations under finance leases (39) (51) (57) (59) (69)
Dividends paid to shareholders (6,490) (6,099) (6,203) (5,292) (4,933)
Distributions to non-controlling interests (346) (394) (278) (364) (182)
Other financing cash flows (22) (106) (59) 171 (309)
Net cash outflow from financing activities (7,901) (9,155) (4,183) (8,488) (7,382)
Exchange adjustments 142 (245) (150) (168) 125
Increase (decrease) in cash and bank overdrafts (2,032) 2,196 (2,763) (314) (863)
Cash and bank overdrafts at beginning of year 8,835 6,473 9,115 9,023 9,801
Cash and bank overdrafts at end of year 6,803 8,669 6,352 8,709 8,938
Overdrafts 524 502 452 169 385
Cash and cash equivalents 7,326 9,171 6,804 8,878 9,323

Based on: 20-F (reporting date: 2014-12-31), 20-F (reporting date: 2013-12-31), 20-F (reporting date: 2012-12-31), 20-F (reporting date: 2011-12-31), 20-F (reporting date: 2010-12-31).

Cash flow statement item Description The company
Net cash inflow from operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. GlaxoSmithKline PLC net cash inflow from operating activities increased from 2012 to 2013 but then slightly decreased from 2013 to 2014 not reaching 2012 level.
Net cash (outflow) inflow from investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. GlaxoSmithKline PLC net cash (outflow) inflow from investing activities increased from 2012 to 2013 but then slightly decreased from 2013 to 2014 not reaching 2012 level.
Net cash outflow from financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. GlaxoSmithKline PLC net cash outflow from financing activities decreased from 2012 to 2013 but then slightly increased from 2013 to 2014.