Interpreting a statement of cash flows Outline the five most important things you learn about TLH Ltd from the following consolidated statement of cash flows for the year ended 30 June 2022.

2022 2021

$m $m Cash flows from operating activities Net cash receipts in the course of operations 4 439 4 280 Payments to suppliers, service providers and employees (2 357) (2 213)

Other cash operating costs (1 075) (1 038)

Finance costs paid (151) (149)

Income tax paid (197) (179)

Net cash flows from operating activities 659 701 Cash flows from investing activities Payment for property, plant and equipment and intangibles (593) (408)

Proceeds from sale of property, plant and equipment and intangibles (47) (1)

Net cash flows used in investing activities (640) (409)

Cash flows from financing activities Proceeds from issue of shares 415 —

Repayments of short-term borrowings (296) (15)

Proceeds from long-term borrowings 1 090 —

Repayment of long-term borrowings (1 063) —

Dividends paid (278) (304)

Net cash flows used in financing activities (132) (319)

Net decrease in cash held (115) (29)

Cash at beginning of year 261 291 Cash at end of year 146 262