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Consolidated cash flow statement - GBP (£)
£ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
[2]
Dec. 31, 2021
Cash flows from operating activities      
Profit before tax £ 7,503 £ 4,782 [1] £ 6,902 [3]
Adjustments for:      
Change in operating assets (9,110) 16,735 [1] (10,365) [1]
Change in operating liabilities 4,232 1,481 [1] 12,282 [1]
Non-cash and other items 5,622 (244) [1] (1,265) [1]
Net tax paid (1,437) (743) [1] (796) [1]
Net cash provided by operating activities 6,810 22,011 [1] 6,758 [1]
Cash flows from investing activities      
Purchase of financial assets (10,311) (7,984) [1] (8,984) [1]
Proceeds from sale and maturity of financial assets 5,298 11,172 [1] 8,287 [1]
Purchase of fixed assets (5,455) (3,855) [1] (3,228) [1]
Proceeds from sale of fixed assets 1,027 1,550 [1] 1,437 [1]
Repayment of capital by joint ventures and associates 0 36 [1] 0 [1]
Acquisition of businesses, net of cash acquired (380) (409) [1] (57) [1]
Net cash (used in) provided by investing activities (9,821) 510 [1] (2,545) [1]
Cash flows from financing activities      
Dividends paid to ordinary shareholders (1,651) (1,475) [1] (877) [1]
Distributions in respect of other equity instruments (527) (438) [1] (429) [1]
Distributions in respect of non-controlling interests (101) (92) [1] (93) [1]
Interest paid on subordinated liabilities (623) (603) [1] (1,303) [1]
Proceeds from issue of subordinated liabilities 1,417 838 [1] 499 [1]
Proceeds from issue of other equity instruments 1,772 745 [1] 0 [1]
Proceeds from issue of ordinary shares 86 31 [1] 25 [1]
Share buyback (1,993) (2,013) [1] 0 [1]
Repayment of subordinated liabilities (1,745) (2,216) [1] (1,056) [1]
Repurchases and redemptions of other equity instruments (135) (1,395) [1] 0 [1]
Change in stake of non-controlling interests 0 5 [1] 0 [1]
Net cash used in financing activities (3,500) (6,613) [1] (3,234) [1]
Effects of exchange rate changes on cash and cash equivalents (480) 727 [1] 70 [1]
Change in cash and cash equivalents (6,991) 16,635 [1] 1,049 [1]
Cash and cash equivalents at beginning of year [1] 95,829 [2] 79,194 78,145
Cash and cash equivalents at end of year £ 88,838 £ 95,829 [1] £ 79,194 [1],[2]
[1]
2    Restated for presentational changes; see note 1.
[2]
1    Restated for the adoption of IFRS 17; see notes 1 and 54.
[3]
2    Restated for presentational changes; see note 1.