Annual report and accounts 2008

Notes contentsNotes to consolidated financial statements

17. Cash and cash equivalents (excluding overdrafts)

All figures in £ millions	2008	2007
Cash at bank and in hand	528	439
Short-term bank deposits	157	121
	685	560

Short-term bank deposits are invested with banks and earn interest at the prevailing short-term deposit rates.

At the end of 2008 the currency split of cash and cash equivalents was US dollars 36% (2007: 37%), sterling 22% (2007: 29%), euros 20% (2007: 16%) and other 22% (2007: 18%).

Cash and cash equivalents have fair values that approximate to their carrying amounts due to their short-term nature.

Cash and cash equivalents include the following for the purpose of the cash flow statement:

All figures in £ millions	2008	2007
Cash and cash equivalents	685	560
Bank overdrafts	(96)	(68)
	589	492