Page 176 - Annual Report 2020

5.1.4 Consolidated Cash Flow Statement for the year ended 30 June 2020

2020 2019 2018
Notes US$M US$M US$M
Operating activities
Profit before taxation 13,510 15,049 14,751
Adjustments for:
Depreciation and amortisation expense 6,112 5,829 6,288
Impairments of property, plant and equipment, financial assets and intangibles 494 264 333
Net finance costs 911 1,064 1,245
Loss/(profit) from equity accounted investments, related impairments and expenses 512 546 (147)
Other 720 308 597
Changes in assets and liabilities:
Trade and other receivables 291 (211) (662)
Inventories (715) 298 (182)
Trade and other payables (755) 406 719
Provisions and other assets and liabilities 1,188 (125) 7
Cash generated from operations 22,268 23,428 22,949
Dividends received 137 516 709
Interest received 385 443 290
Interest paid (1,225) (1,346) (1,177)
Proceeds/(settlements) of cash management related instruments 85 296 (292)
Net income tax and royalty-related taxation refunded 48 59 17
Net income tax and royalty-related taxation paid (5,992) (5,999) (4,935)
Net operating cash flows from Continuing operations 15,706 17,397 17,561
Net operating cash flows from Discontinued operations 28 − 474 900
Net operating cash flows 15,706 17,871 18,461
Investing activities
Purchases of property, plant and equipment (6,900) (6,250) (4,979)
Exploration expenditure (740) (873) (874)
Exploration expenditure expensed and included in operating cash flows 517 516 641
Net investment and funding of equity accounted investments (618) (630) 204
Proceeds from sale of assets 265 145 89
Other investing (140) (285) (141)
Net investing cash flows from Continuing operations (7,616) (7,377) (5,060)
Net investing cash flows from Discontinued operations 28 − (443) (861)
Proceeds from divestment of Onshore US, net of its cash 28 − 10,427 −
Net investing cash flows (7,616) 2,607 (5,921)
Financing activities
Proceeds from interest bearing liabilities 514 250 528
(Settlements)/proceeds of debt related instruments (157) (160) (218)
Repayment of interest bearing liabilities (2,047) (2,604) (4,188)
Purchase of shares by Employee Share Ownership Plan (ESOP) Trusts (143) (188) (171)
Share buy-back – BHP Group Limited − (5,220) −
Dividends paid (6,876) (11,395) (5,220)
Dividends paid to non-controlling interests (1,043) (1,198) (1,582)
Net financing cash flows from Continuing operations (9,752) (20,515) (10,851)
Net financing cash flows from Discontinued operations 28 − (13) (40)
Net financing cash flows (9,752) (20,528) (10,891)
Net (decrease)/increase in cash and cash equivalents from Continuing operations (1,662) (10,495) 1,650
Net increase/(decrease) in cash and cash equivalents from Discontinued operations − 18 (1)
Proceeds from divestment of Onshore US, net of its cash − 10,427 −
Cash and cash equivalents, net of overdrafts, at the beginning of the financial year 15,593 15,813 14,108
Foreign currency exchange rate changes on cash and cash equivalents (505) (170) 56
Cash and cash equivalents, net of overdrafts, at the end of the financial year 19 13,426 15,593 15,813
The accompanying notes form part of these Financial Statements.

174 BHP Annual Report 2020