Company statement of cash flows

For the year ended 31 December

Figures in million	Notes	2009	2008
		SA Rands
Cash flows from operating activities
Receipts from customers		12,832	12,786
Payments to suppliers and employees		(8,133)	(7,532)
Cash generated from operations	27	4,699	5,254
Dividends received from subsidiaries	1	543	538
Cash utilised by discontinued operations		–	(11)
Taxation paid	26	(148)	(53)
Cash utilised for hedge buy-back costs		–	(3,966)
Net cash inflow from operating activities		5,094	1,762
Cash flows from investing activities
Capital expenditure
– project capital		(566)	(616)
– stay-in-business capital		(2,669)	(2,191)
Proceeds from disposal of tangible assets		–	11
Proceeds from disposal of assets of discontinued operations		–	79
Proceeds on disposal of associate		–	382
Acquisition of associate and joint venture		(16)	–
Loans advanced to associate and joint venture		(17)	–
Associates’ loan repaid		3	–
Increase in cash restricted for use		(1)	(1)
Additional investment in subsidiaries		(3,108)	(9,433)
Intra-group loans repaid (advanced)		44	(368)
Interest received		157	281
Loans advanced		–	(3)
Repayment of loans advanced		1	–
Net cash outflow from investing activities		(6,172)	(11,859)
Cash flows from financing activities
Proceeds from issue of share capital		2,384	13,592
Share issue expenses		(84)	(421)
Repayment of borrowings		–	(2,000)
Finance costs paid		(31)	(199)
Dividends paid	Group 15	(392)	(324)
Intra-group dividends paid		(537)	(376)
Net cash inflow from financing activities		1,340	10,272
Net increase in cash and cash equivalents		262	175
Cash and cash equivalents at beginning of year		1,458	1,283
Cash and cash equivalents at end of year	18	1,720	1,458

ANGLOGOLD ASHANTI Annual Financial Statements 2009