2022

2021

2020

£m

Operating profit

317

347

294

Adjustments for:

– Depreciation and impairment of property, plant and equipment

148

128

132

– Depreciation and impairment of leased assets

106

78

– Amortisation and impairment of intangible assets (excluding computer software)

118

74

82

– Amortisation and impairment of computer software

22

17

19

– Other non-cash items

8

6

(1)

Changes in working capital (excluding the effects of acquisitions and exchange differences on consolidation):

– Inventories

(4)

(3)

(23)

– Contract costs

(10)

(5)

(2)

– Trade and other receivables

37

59

(19)

– Accrued income

(32)

—

2

– Trade and other payables and provisions

(75)

(43)

78

– Contract liabilities

81

11

13

Cash generated from operating activities

716

669

653

Purchase of property, plant and equipment

(153)

(128)

(130)

Purchase of intangible fixed assets

(37)

(32)

(23)

Capital element of lease payments and initial direct costs incurred

(104)

(88)

(83)

Proceeds from sale of property, plant and equipment

5

7

6

Cash impact of one-off and adjusting items

59

27

7

Dividends received from associates

4

12

Adjusted Cash Flow

490

459

442

Interest received

13

5

8

Interest paid

(52)

(42)

(49)

Income tax paid

(77)

(69)

(64)

Free Cash Flow

374

353

337