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ASC Pty Ltd Annual Report 2019-20

22. Cash Flow Information

Reconciliation of profit after income tax to net cash inflow from operating activities
	June 2020 $'000	June 2019 $'000
Profit for the year	22,557	30,272
Adjustment for:
Depreciation and amortisation	26,979	14,296
Pension costs	-85	-389
Income tax expense	9,683	12,857
Income tax paid	-5,831	-14,283
Interest received	-1,762	-3,629
Interest expense	5,507	546
Doubtful debt expense	976	877
(Profit)/loss on disposal of fixed assets	-52	72
SAFA loan revaluation	130	-
Change in operating assets and liabilities:
(Increase)/decrease in trade debtors	55,034	-19,907
(Increase)/decrease in inventories	71	175
(Decrease)/increase in trade creditors	-41,476	6,665
(Decrease)/increase in other provisions	10,856	-7,216
(Increase)/decrease in prepayments	-2,547	1,665
(Decrease)/increase in contract liabilities	-34,891	-56,515
(Increase)/decrease in contract assets	-9,666	-9,541
Net cash inflow (outflow) from operating activities	35,483	-44,055

This section sets out an analysis of net debt and the movements in net debt for each of the periods presented.

Net debt reconciliation
	Interest bearing liabilities	Lease liabilities	Non-interest bearing liabilities	Total
	$'000	$'000	$'000	$'000
Balance at 1 July 2018	90,770	-	3	90,773
Net financing cash flows¹	-26,305	-	-	-26,305
Non-cash changes:
Effects of changes in exchange rates	1,323	-	-	1,323
Other	-	-	-	-
Balance at 30 June 2019	65,788	-	3	65,791

Balance at 1 July 2019	65,788	-	3	65,791
Recognised on adoption of AASB 16	-	152,852		152,852
Net financing cash flows¹	92	-13,003	-	-12,911
Non-cash changes:
Effects of changes in exchange rates	74	-	-	74
Other	-	-	131	131
Balance at 30 June 2020	65,954	139,849	134	205,937

¹ Financing cash flows consist of the net amount of proceeds from borrowings and repayment of borrowings in the statement of cash flows.

https://www.transparency.gov.au/annual-reports/asc-pty-ltd/reporting-year/2019-20-37