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Consolidated Statement of Cash Flows - EUR (€)
€ in Millions
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Operating activities      
Profit after tax € 648.7 € 885.0 € 1,450.2
Adjustments to reconcile profit after tax to net cash provided by operating activities      
Depreciation 748.7 640.5 561.0
(Increase)/decrease in inventories (0.4) 0.8 (0.6)
Tax expense on profit 21.6 63.1 161.1
Share-based payments 7.0 7.7 6.4
(Increase) in trade receivables (8.1) (1.9) (3.3)
Decrease/(increase) in other assets 61.9 (2.1) (14.1)
Increase/(decrease) in trade payables 632.2 324.2 (44.5)
(Decrease)/increase in accrued expenses (401.4) 198.6 241.1
(Decrease) in other creditors   (2.8) (9.6)
(Decrease) in provisions (55.7) (2.5) (0.1)
(Increase)/decrease in finance income 2.9 (0.5) 0.7
(Decrease)/increase in finance expense   (1.5) 3.8
Gain on sale of associate   (6.0)  
Share of associate losses   15.8  
Hedge ineffectiveness 407.2    
Income tax paid (120.5) (100.9) (118.9)
Net cash provided by operating activities 1,944.1 2,017.5 2,233.2
Investing activities      
Capital expenditure (purchase of property, plant and equipment) (1,195.8) (1,546.7) (1,470.6)
Decrease/(increase) in restricted cash 0.5 (0.3) (22.8)
Decrease in financial assets: cash > 3 months 277.2 646.1 774.0
Acquisition of subsidiary (net of cash acquired)   (86.5)  
Investment in associate   (15.0)  
Net cash used in investing activities (918.1) (1,002.4) (719.4)
Financing activities      
Shareholder returns (net of tax) (580.5) (531.6) (829.1)
Net proceeds from shares issued 19.1    
Proceeds from long term borrowings 750.0 99.9 65.2
Repayments of long term borrowings (408.1) (422.8) (458.9)
Lease liabilities paid (67.5)    
Net cash used in financing activities (287.0) (854.5) (1,222.8)
Increase in cash and cash equivalents 739.0 160.6 291.0
Net foreign exchange differences 151.8    
Cash and cash equivalents at beginning of year 1,675.6 1,515.0 1,224.0
Cash and cash equivalents at end of year 2,566.4 1,675.6 1,515.0
Interest income received 24.4 3.2 2.9
Interest expense paid € (74.3) € (60.6) € (56.1)