Change In Cash and Cash Equivalents (cash flow) vs Cash And Cash Equivalents (balance sheet)
Goal: Figure out why Change In Cash and Cash Equivalents on the cash flow statement does not equal change in Cash And Cash Equivalents on the balance sheet.
Example:
Stock: DEO
Period Ending: 6/30/2016
Period: Annual
From Cash Flow Statement:
Change In Cash and Cash Equivalents: 459,000
From Balance Sheet:
6/30/2015 Cash And Cash Equivalents: 742,000
6/30/2016 Cash And Cash Equivalents: 1,456,000
Different YOY is 1,456,000 - 742,000 = 714,000
I would expect YOY difference on the balance sheet to equal the 459,000 on the cash flow statement. Can anyone explain the disparity.
Link to Financials
(1)1 Comments
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tl;dr It's a difference between cash and cash equivalents and net cash and cash equivalents.
Download the 2016 annual report from www.diageo.com/en-us/investor/Pages/financialreports.aspx
On page 99 is the Consolidated Statement of Cash Flows at the bottom is a section "Net cash and cash equivalents consist of:"
Net cash and cash equivalents consist of: 2016-06-30 2015-06-30
Cash and cash equivalents 1,089 472
Bank overdrafts (280) (90)
809 382
The difference between net cash of 809 million and 382 million is 427 million, matching the "Change in Cash and Cash Equivalents" from Yahoo.
I do not know that bank overdrafts mean in this situation, but appears to cause cash to show up on balance sheet without being reflected in the net cash portions of the cash flow statement. And the numbers seem like balances, not year of year changes like the rest of the statement of cash flows.
2015 net CCE 382
2016 cash flow + 427
----
2016 net CCE 809
Cash from overdrafts + 280
----
2015 balance sheet cash 1,089
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