|At the start of the year||5,924.0||5,515.9|
|Net capital expenditure||681.6||709.0|
|Dividends (see note 8)||258.7||249.4|
|Fair value movements*||42.4||107.2|
|Inflation uplift on index-linked debt (see note 5)||37.9||46.6|
|Cash generated from operations (see note A1)||(905.5)||(941.7)|
|At the end of the year||6,260.5||5,924.0|
* Fair value movements includes net fair value losses on debt and derivative instruments of £26.3 million (2015: £104.7 million), less £16.1 million (2015: £2.5 million) of net receipts on swaps and debt under fair value option (see note 5).
Net debt comprises borrowings, net of cash and short-term deposits and derivatives.