for the years ended 31 March

	Notes	2004   US$m	2003 Restated US$m
Net cash inflow from operating activities	25	2,292	1,568
Dividends received from associates		25	27
Returns on investments and servicing of finance
Interest received		53	39
Interest paid		(216)	(159)
Interest element of finance lease rental payments		(3)	(11)
Dividends received from other investments		9	3
Dividends paid to minority interests		(154)	(137)
Net cash outflow from returns on investments and servicing of finance		(311)	(265)
Taxation paid		(456)	(286)
Capital expenditure and financial investments
Purchase of tangible fixed assets		(576)	(445)
Sale of tangible fixed assets		27	16
Purchase of investments		(217)	(9)
Sale of investments		6	3
Net cash outflow for capital expenditure and financial investments		(760)	(435)
Acquisitions and disposals
Purchase of subsidiary undertakings	29	(338)	(52)
Net (overdraft)/cash acquired with subsidiary undertakings	29	(160)	6
Sale of subsidiary undertakings	29	–	44
Net cash disposed with subsidiary undertakings	29	–	(42)
Purchase of shares from minorities	29	(20)	(8)
Purchase of shares in associates		(58)	(6)
Net funding from associates		1	4
Proceeds of pension fund surplus from previously disposed operation	5	47	–
Proceeds from disposal of trademarks	5	13	–
Net cash outflow for acquisitions and disposals		(515)	(54)
Equity dividends paid to shareholders		(309)	(203)
Management of liquid resources
(Purchase)/sale of short-term liquid instruments		(16)	43
Cash withdrawn from short-term deposits		–	1
Net cash (outflow)/inflow from management of liquid resources	26, 27	(16)	44
Financing
Issue of shares		10	2
Issue of shares to minorities		4	2
Net purchase of own shares for share trusts		(10)	(12)
New loans raised	26, 27	3,385	190
Repayment of loans	26, 27	(3,377)	(330)
Net cash inflow/(outflow) from financing		12	(148)
(Decrease)/increase in cash in the year	26, 27	(38)	248

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