40. Notes to the Group cash flow statement
(a) Cash generated from operations
| Notes | 2022 US$m | 2021 US$m | |
| Profit before tax | 1,447 | 1,077 | |
| Share of post-tax loss/(profit) of associates | 28 | (21) | |
| Net finance (income)/costs | (59) | 127 | |
| Operating profit | 1,416 | 1,183 | |
| (Profit)/loss on disposal of property, plant and equipment | (4) | 3 | |
| Loss on disposal of business | 14(b) | 43 | — |
| Net profit on disposal of associates | 14(c), 23 | (90) | (120) |
| Impairment of goodwill | 20(a), 20(d) | — | 53 |
| Impairment of other intangible assets | 21 | — | 33 |
| Impairment of property, plant and equipment | 22 | — | 4 |
| Amortisation and depreciation1 | 12 | 658 | 591 |
| Charge in respect of share incentive plans | 33(a) | 149 | 106 |
| Decrease/(increase) in working capital | 40(b) | 58 | (13) |
| Acquisition expenses – difference between income statement charge and amount paid | 7 | (9) | |
| Adjustment to the fair value of contingent consideration | 26 | 1 | |
| Movement in Exceptional and other non-benchmark items included in working capital | 7 | (10) | |
| Cash generated from operations | 2,270 | 1,822 |
1 Amortisation and depreciation includes amortisation of acquisition intangibles of US$174m (2021: US$138m) which is excluded from Benchmark PBT.
(b) Decrease/(increase) in working capital
| 2022 US$m | 2021 US$m | |
| Trade and other receivables | (143) | (31) |
| Trade and other payables | 201 | 18 |
| Decrease/(increase) in working capital | 58 | (13) |
(c) Purchase of other intangible assets
| 2022 US$m | 2021 US$m | |
| Databases | 180 | 147 |
| Internally generated software | 236 | 197 |
| Internal use software | 29 | 30 |
| Purchase of other intangible assets | 445 | 374 |
(d) Cash flows on acquisitions (non-GAAP measure)
| 2022 US$m | 2021 US$m | |
| Purchase of subsidiaries (note 41(a)) | 706 | 568 |
| Less: net cash acquired with subsidiaries | (17) | (47) |
| Settlement of deferred and contingent consideration | 47 | 5 |
| As reported in the Group cash flow statement | 736 | 526 |
| Acquisition expenses paid | 40 | 47 |
| Settlement of put options held over shares in subsidiaries | 4 | — |
| Transactions in respect of non-controlling interests | 1 | 10 |
| Cash outflow for acquisitions (non-GAAP measure) | 781 | 583 |
(e) Cash outflow/(inflow) in respect of net share purchases (non-GAAP measure)
| 2022 US$m | 2021 US$m | |
| Issue of ordinary shares | (24) | (19) |
| Purchase of shares by employee trusts | 61 | — |
| Purchase of shares held as treasury shares | 109 | — |
| Purchase of shares for Co-investment Plan delivery | 3 | — |
| Cash outflow/(inflow) in respect of net share purchases (non-GAAP measure) | 149 | (19) |
| As reported in the Group cash flow statement: | ||
| Cash inflow in respect of shares issued | (24) | (19) |
| Cash outflow in respect of share purchases | 173 | — |
| Cash outflow/(inflow) in respect of net share purchases (non-GAAP measure) | 149 | (19) |
(f) Analysis of cash and cash equivalents
| 2022 US$m | 2021 US$m | |
| Cash and cash equivalents in the Group balance sheet | 179 | 180 |
| Bank overdrafts | (3) | (10) |
| Cash and cash equivalents in the Group cash flow statement | 176 | 170 |
(g) Reconciliation of Cash generated from operations to Benchmark operating cash flow (non-GAAP measure)
| Notes | 2022 US$m | 2021 US$m | |
| Cash generated from operations | 40(a) | 2,270 | 1,822 |
| Purchase of other intangible assets | 40(c) | (445) | (374) |
| Purchase of property, plant and equipment | (63) | (48) | |
| Sale of property, plant and equipment | 23 | 1 | |
| Principal lease payments | (57) | (56) | |
| Acquisition expenses paid | 40 | 47 | |
| Dividends received from associates | 13 | 17 | |
| Cash flows in respect of Exceptional and other non-benchmark items | 19 | 67 | |
| Benchmark operating cash flow (non-GAAP measure) | 1,800 | 1,476 |
Cash flow conversion for the year ended 31 March 2022 was 109% (2021: 106%). Benchmark free cash flow for the year ended 31 March 2022, as set out in the Financial review within the Strategic report, was US$1,311m (2021: US$1,124m).