Annual Report & Accounts 2017/18

97 NI Water Annual Report and Accounts 2017/18 Statutory Accounts Company statement of cash flows Note Year to 31 March 2018 £000 Year to 31 March 2017 £000 Cash flows from operating activities Profit before tax 103,437 102,912 Adjustments for: Depreciation A1, A3 73,460 71,758 Amortisation of intangible assets A4 7,030 7,151 Impairment losses on assets classified as held for resale - - Notional income relating to adopted assets C1 (31,145) (32,071) Gain on sale of property, plant and equipment C3 (1,035) (657) Interest expense (net) B2 63,818 63,480 215,565 212,573 Changes in: - inventories (121) 20 - trade and other receivables (775) (1,630) - unbilled revenue (1,678) 593 - trade and other payables (3,598) (845) - provisions (148) (211) - excess of pension charge over cash 6,152 2,041 Cash generated from operating activities 215,397 212,541 Cash flows from investing activities Interest received 103 74 Proceeds from sale of property, plant and equipment 1,536 1,096 Acquisition of property, plant and equipment, and intangible assets (160,235) (148,999) Acquisition of subsidiaries A5 (29,126) - Grants received 73 - Net cash used in investing activities (187,649) (147,829) Cash flows from financing activities Proceeds from borrowings 69,000 30,000 Payment of finance lease liabilities (4,843) (4,126) Interest paid (66,869) (66,700) Dividends paid B3 (24,524) (23,262) Tax paid (237) (171) Net cash from financing activities (27,473) (64,259) Net increase in cash and cash equivalents 275 453 Cash and cash equivalents at 1 April A8 3,622 3,169 Cash and cash equivalents at 31 March A8 3,897 3,622 The Notes on pages 98 to 152 form part of these financial statements. pension contributions