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Supplemental Guarantor Information
12 Months Ended
Dec. 31, 2017
Text Block1 [Abstract]  
Supplemental Guarantor Information

35. Supplemental Guarantor Information

 

The following consolidating information presents Condensed Consolidated Balance Sheets as at 31 December 2017 and 2016 and Condensed Consolidated Income Statements and Condensed Consolidated Statements of Comprehensive Income and Condensed Consolidated Statements of Cash Flow for the years ended 31 December 2017, 2016 and 2015 of the Company and CRH America, Inc. as required by Article 3-10(c) of Regulation S-X. This information is prepared in accordance with IFRS with the exception that the subsidiaries are accounted for as investments under the equity method rather than being consolidated. CRH America, Inc. is 100% owned by the Company. The Guarantees of the Guarantor are full and unconditional.

 

CRH plc also fully and unconditionally guarantees securities issued by CRH America Finance, Inc., which is a 100% owned finance subsidiary of CRH plc.

 

CRH America, Inc. (the ‘Issuer’) has the following notes which are fully and unconditionally guaranteed by CRH plc (the ‘Guarantor’):

 

US$288 million 8.125% Notes due 2018 – listed on the NYSE (i)

 

US$400 million 5.750% Notes due 2021 – listed on the NYSE

 

US$1,250 million 3.875% Notes due 2025 – listed on the ISE

 

US$300 million 6.40% Notes due 2033 – listed on the ISE (ii)

 

US$500 million 5.125% Notes due 2045 – listed on the ISE

 

(i) Originally issued as a US$650 million bond in July 2008. Subsequently in May 2017, US$362.13 million of the issued notes were redeemed by the issuer as part of a liability management exercise.

 

(ii) Originally issued as a US$300 million bond in September 2003. Subsequently in August 2009 and December 2010, US$87.445 million of the issued notes were acquired by CRH plc as part of liability management exercises undertaken.

 

       

 

Supplemental Condensed Consolidated Balance Sheet as at 31 December 2017

 

   

Guarantor

   

Issuer

   

Non-Guarantor
subsidiaries

   

Eliminate and
reclassify

   

CRH and
subsidiaries

 
   

m

   

m

   

m

   

m

   

m

 

ASSETS

                                       

Non-current assets

                                       

Property, plant and equipment

    -       -       13,094       -       13,094  

Intangible assets

    -       -       7,214       -       7,214  

Subsidiaries

    8,658       458       1,682       (10,798     -  

Investments accounted for using the equity method

    -       -       1,248       -       1,248  

Advances to subsidiaries and parent undertakings

    -       3,627       -       (3,627     -  

Other financial assets

    -       -       25       -       25  

Other receivables

    -       -       156       -       156  

Derivative financial instruments

    -       -       30       -       30  

Deferred income tax assets

    -       -       95       -       95  

Total non-current assets

    8,658       4,085       23,544       (14,425     21,862  

Current assets

                                       

Inventories

    -       -       2,715       -       2,715  

Trade and other receivables

    -       4       3,626       -       3,630  

Advances to subsidiaries and parent undertakings

    6,141       -       704       (6,845     -  

Current income tax recoverable

    -       -       165       -       165  

Derivative financial instruments

    -       4       30       -       34  

Cash and cash equivalents

    401       -       1,714       -       2,115  

Assets held for sale

    -       -       1,112       -       1,112  

Total current assets

    6,542       8       10,066       (6,845     9,771  
                                         

Total assets

    15,200       4,093       33,610       (21,270     31,633  

EQUITY

                                       

Capital and reserves attributable to the Company’s equity holders

    14,491       1,797       9,001       (10,798     14,491  

Non-controlling interests

    -       -       486       -       486  

Total equity

    14,491       1,797       9,487       (10,798     14,977  

LIABILITIES

                                       

Non-current liabilities

                                       

Interest-bearing loans and borrowings

    -       2,020       5,640       -       7,660  

Derivative financial instruments

    -       3       -       -       3  

Deferred income tax liabilities

    -       -       1,666       -       1,666  

Other payables

    -       -       226       -       226  

Advances from subsidiary and parent undertakings

    -       -       3,627       (3,627     -  

Retirement benefit obligations

    -       -       377       -       377  

Provisions for liabilities

    -       -       693       -       693  

Total non-current liabilities

    -       2,023       12,229       (3,627     10,625  

Current liabilities

                                       

Trade and other payables

    3       29       4,502       -       4,534  

Advances from subsidiary and parent undertakings

    704       -       6,141       (6,845     -  

Current income tax liabilities

    -       -       458       -       458  

Interest-bearing loans and borrowings

    2       244       70       -       316  

Derivative financial instruments

    -       -       11       -       11  

Provisions for liabilities

    -       -       371       -       371  

Liabilities associated with assets classified as held for sale

    -       -       341       -       341  

Total current liabilities

    709       273       11,894       (6,845     6,031  
                                         

Total liabilities

    709       2,296       24,123       (10,472     16,656  
                                         

Total equity and liabilities

    15,200       4,093       33,610       (21,270     31,633  

 

   

 

 

 

Supplemental Condensed Consolidated Balance Sheet as at 31 December 2016

 

    Guarantor
m
    Issuer
m
    Non-Guarantor
subsidiaries
m
    Eliminate and
reclassify
m
    CRH and
subsidiaries
m
 

ASSETS

                                       

Non-current assets

                                       

Property, plant and equipment

    -       -       12,690       -       12,690  

Intangible assets

    -       -       7,761       -       7,761  

Subsidiaries

    7,654       375       1,682       (9,711)       -  

Investments accounted for using the equity method

    -       -       1,299       -       1,299  

Advances to subsidiaries and parent undertakings

    -       4,508       -       (4,508)       -  

Other financial assets

    -       -       26       -       26  

Other receivables

    -       -       212       -       212  

Derivative financial instruments

    -       13       40       -       53  

Deferred income tax assets

    -       -       159       -       159  

Total non-current assets

    7,654       4,896       23,869       (14,219)       22,200  

Current assets

                                       

Inventories

    -       -       2,939       -       2,939  

Trade and other receivables

    -       6       3,973       -       3,979  

Advances to subsidiaries and parent undertakings

    6,546       -       704       (7,250)       -  

Current income tax recoverable

    -       -       4       -       4  

Derivative financial instruments

    -       -       23       -       23  

Cash and cash equivalents

    401       -       2,048       -       2,449  

Total current assets

    6,947       6       9,691       (7,250)       9,394  
                                         

Total assets

    14,601       4,902       33,560       (21,469)       31,594  

EQUITY

                                       

Capital and reserves attributable to the Company’s equity holders

    13,895       1,922       7,789       (9,711)       13,895  

Non-controlling interests

    -       -       548       -       548  

Total equity

    13,895       1,922       8,337       (9,711)       14,443  

LIABILITIES

                                       

Non-current liabilities

                                       

Interest-bearing loans and borrowings

    -       2,934       4,581       -       7,515  

Deferred income tax liabilities

    -       -       2,008       -       2,008  

Other payables

    -       -       461       -       461  

Advances from subsidiary and parent undertakings

    -       -       4,508       (4,508)       -  

Retirement benefit obligations

    -       -       591       -       591  

Provisions for liabilities

    -       -       678       -       678  

Total non-current liabilities

    -       2,934       12,827       (4,508)       11,253  

Current liabilities

                                       

Trade and other payables

    -       46       4,769       -       4,815  

Advances from subsidiary and parent undertakings

    704       -       6,546       (7,250)       -  

Current income tax liabilities

    -       -       394       -       394  

Interest-bearing loans and borrowings

    2       -       273       -       275  

Derivative financial instruments

    -       -       32       -       32  

Provisions for liabilities

    -       -       382       -       382  

Total current liabilities

    706       46       12,396       (7,250)       5,898  
                                         

Total liabilities

    706       2,980       25,223       (11,758)       17,151  
                                         

Total equity and liabilities

    14,601       4,902       33,560       (21,469)       31,594  

 

       

 

Supplemental Condensed Consolidated Income Statement

 

   

Year ended 31 December 2017

 
   

Guarantor
m

   

Issuer
m

   

Non-Guarantor
subsidiaries
m

   

Eliminate and
reclassify
m

   

CRH and
subsidiaries
m

 

Revenue

    -       -       25,220       -       25,220  

Cost of sales

    -       -       (16,903)       -       (16,903)  

Gross profit

    -       -       8,317       -       8,317  

Operating income/(costs)

    22       -       (6,244)       -       (6,222)  

Group operating profit

    22       -       2,073       -       2,095  

Profit on disposals

    -       -       56       -       56  

Profit before finance costs

    22       -       2,129       -       2,151  

Finance costs

    -       (235)       (308)       242       (301)  

Finance income

    2       242       10       (242)       12  

Other financial expense

    -       -       (60)       -       (60)  

Share of subsidiaries’ profit before tax

    1,754       83       -       (1,837)       -  

Share of equity accounted investments’ profit

    65       -       65       (65)       65  

Profit before tax from continuing operations

    1,843       90       1,836       (1,902)       1,867  

Income tax expense

    (55)       (29)       (26)       55       (55)  

Group profit for the financial year from continuing operations

    1,788       61       1,810       (1,847)       1,812  

Profit after tax for the financial year from discontinued operations

    107       -       107       (107)       107  

Group profit for the financial year

    1,895       61       1,917       (1,954)       1,919  

Profit attributable to:

                                       

Equity holders of the Company

                                       

From continuing operations

    1,788       61       1,786       (1,847)       1,788  

From discontinued operations

    107       -       107       (107)       107  

Non-controlling interests

                                       

From continuing operations

    -       -       24       -       24  

Group profit for the financial year

    1,895       61       1,917       (1,954)       1,919  
Supplemental Condensed Consolidated Statement of Comprehensive Income                                        

 

Group profit for the financial year

    1,895       61       1,917       (1,954)       1,919  

 

Other comprehensive income

                                       

Items that may be reclassified to profit or loss in subsequent years:

                                       

Currency translation effects

    (1,015)       (186)       (890)       1,015       (1,076)  

Gains relating to cash flow hedges

    8       -       8       (8)       8  
      (1,007)       (186)       (882)       1,007       (1,068)  

Items that will not be reclassified to profit or loss in subsequent years:

                                       

Remeasurement of retirement benefit obligations

    114       -       114       (114)       114  

Tax on items recognised directly within other comprehensive income

    (33)       -       (33)       33       (33)  
      81       -       81       (81)       81  

Total other comprehensive income for the financial year

    (926)       (186)       (801)       926       (987)  

Total comprehensive income for the financial year

    969       (125)       1,116       (1,028)       932  

Attributable to:

                                       

Equity holders of the Company

    969       (125)       1,153       (1,028)       969  

Non-controlling interests

    -       -       (37)       -       (37)  

Total comprehensive income for the financial year

    969       (125)       1,116       (1,028)       932  

 

   

 

 

 

Supplemental Condensed Consolidated Income Statement

 

   

Year ended 31 December 2016

    Restated(i)  
   

Guarantor
m

   

Issuer

m

   

Non-Guarantor
subsidiaries

m

   

Eliminate and
reclassify

m

   

CRH and
subsidiaries
m

 

Revenue

    -       -       24,789       -       24,789  

Cost of sales

    -       -       (16,566)       -       (16,566)  

Gross profit

    -       -       8,223       -       8,223  

Operating income/(costs)

    20       -       (6,335)       -       (6,315)  

Group operating profit

    20       -       1,888       -       1,908  

Profit on disposals

    -       -       53       -       53  

Profit before finance costs

    20       -       1,941       -       1,961  

Finance costs

    -       (266)       (334)       275       (325)  

Finance income

    2       275       6       (275)       8  

Other financial expense

    -       -       (66)       -       (66)  

Share of subsidiaries’ profit before tax

    1,529       95       -       (1,624)       -  

Share of equity accounted investments’ profit

    42       -       42       (42)       42  

Profit before tax from continuing operations

    1,593       104       1,589       (1,666)       1,620  

Income tax expense

    (431)       (41)       (390)       431       (431)  

Group profit for the financial year from continuing operations

    1,162       63       1,199       (1,235)       1,189  

Profit after tax for the financial year from discontinued operations

    81       -       81       (81)       81  

Group profit for the financial year

    1,243       63       1,280       (1,316)       1,270  

Profit attributable to:

                                       

Equity holders of the Company

                                       

From continuing operations

    1,162       63       1,172       (1,235)       1,162  

From discontinued operations

    81       -       81       (81)       81  

Non-controlling interests

                                       

From continuing operations

    -       -       27       -       27  

Group profit for the financial year

    1,243       63       1,280       (1,316)       1,270  

(i) Restated to show the results of our Americas Distribution segment in discontinued operations.

 

                               
Supplemental Condensed Consolidated Statement of Comprehensive Income                                        

Group profit for the financial year

    1,243       63       1,280       (1,316)       1,270  

Other comprehensive income

                                       

Items that may be reclassified to profit or loss in subsequent years:

                                       

Currency translation effects

    (71)       49       (131)       71       (82)  

Gains relating to cash flow hedges

    14       -       14       (14)       14  
      (57)       49       (117)       57       (68)  

Items that will not be reclassified to profit or loss in subsequent years:

                                       

Remeasurement of retirement benefit obligations

    (61)       -       (61)       61       (61)  

Tax on items recognised directly within other comprehensive income

    3       -       3       (3)       3  
      (58)       -       (58)       58       (58)  

Total other comprehensive income for the financial year

    (115)       49       (175)       115       (126)  

Total comprehensive income for the financial year

    1,128       112       1,105       (1,201)       1,144  

Attributable to:

                                       

Equity holders of the Company

    1,128       112       1,089       (1,201)       1,128  

Non-controlling interests

    -       -       16       -       16  

Total comprehensive income for the financial year

    1,128       112       1,105       (1,201)       1,144  

 

       

 

Supplemental Condensed Consolidated Income Statement

 

   

Year ended 31 December 2015

    Restated(i)  
   

Guarantor
m

   

Issuer
m

   

Non-Guarantor
subsidiaries
m

   

Eliminate and
reclassify
m

   

CRH and
subsidiaries
m

 

Revenue

    -       -       21,406       -       21,406  

Cost of sales

    -       -       (14,743)       -       (14,743)  

Gross profit

    -       -       6,663       -       6,663  

Operating income/(costs)

    1,473       -       (6,970)       -       (5,497)  

Group operating profit/(loss)

    1,473       -       (307)       -       1,166  

(Loss)/profit on disposals

    (7)       -       106       -       99  

Profit/(loss) before finance costs

    1,466       -       (201)       -       1,265  

Finance costs

    -       (321)       (315)       333       (303)  

Finance income

    1       333       7       (333)       8  

Other financial expense

    -       -       (94)       -       (94)  

Share of subsidiaries’ (loss)/profit before tax

    (596)       62       -       534       -  

Share of equity accounted investments’ profit

    44       -       44       (44)       44  

Profit/(loss) before tax from continuing operations

    915       74       (559)       490       920  

Income tax expense

    (276)       (29)       (247)       276       (276)  

Group profit/(loss) for the financial year from continuing operations

    639       45       (806)       766       644  

Profit after tax for the financial year from discontinued operations

    85       -       85       (85)       85  

Group profit/(loss) for the financial year

    724       45       (721)       681       729  

Profit/(loss) attributable to:

                                       

Equity holders of the Company

                                       

From continuing operations

    639       45       (811)       766       639  

From discontinued operations

    85       -       85       (85)       85  

Non-controlling interests

                                       

From continuing operations

    -       -       5       -       5  

Group profit/(loss) for the financial year

    724       45       (721)       681       729  

(i) Restated to show the results of our Americas Distribution segment in discontinued operations.

 

Supplemental Condensed Consolidated Statement of Comprehensive Income                                        

Group profit/(loss) for the financial year

    724       45       (721)       681       729  

Other comprehensive income

                                       

Items that may be reclassified to profit or loss in subsequent years:

                                       

Currency translation effects

    643       159       502       (643)       661  

Losses relating to cash flow hedges

    (2)       -       (2)       2       (2)  
      641       159       500       (641)       659  

Items that will not be reclassified to profit or loss in subsequent years:

                                       

Remeasurement of retirement benefit obligations

    203       -       203       (203)       203  

Tax on items recognised directly within other comprehensive income

    (30)       -       (30)       30       (30)  
      173       -       173       (173)       173  

Total other comprehensive income for the financial year

    814       159       673       (814)       832  

Total comprehensive income for the financial year

    1,538       204       (48)       (133)       1,561  

Attributable to:

                                       

Equity holders of the Company

    1,538       204       (71)       (133)       1,538  

Non-controlling interests

    -       -       23       -       23  

Total comprehensive income for the financial year

    1,538       204       (48)       (133)       1,561  

 

   

 

 

 

Supplemental Condensed Consolidated Statement of Cash Flow

 

    

Year ended 31 December 2017

 
    

Guarantor
m

    

Issuer
m

    

Non-Guarantor
subsidiaries
m

    

Eliminate and
reclassify
m

    

CRH and
subsidiaries
m

 

Cash flows from operating activities

                                            

Profit before tax from continuing operations

     1,843        90        1,836        (1,902)        1,867  

Profit before tax from discontinued operations

     146        -        146        (146)        146  

Profit before tax

     1,989        90        1,982        (2,048)        2,013  

Finance costs (net)

     (2)        (7)        358        -        349  

Share of subsidiaries’ profit before tax

     (1,900)        (83)        -        1,983        -  

Share of equity accounted investments’ profit

     (65)        -        (65)        65        (65)  

Profit on disposals

     -        -        (59)        -        (59)  

Group operating profit

     22        -        2,216        -        2,238  

Depreciation charge

     -        -        1,006        -        1,006  

Amortisation of intangible assets

     -        -        66        -        66  

Share-based payment (income)/expense

     (1)        -        66        -        65  

Other (primarily pension payments)

     -        -        (186)        -        (186)  

Net movement on working capital and provisions

     -        (11)        (198)        -        (209)  

Cash generated from operations

     21        (11)        2,970        -        2,980  

Interest paid (including finance leases)

     -        (236)        (323)        242        (317)  

Corporation tax paid

     -        (29)        (445)        -        (474)  

Net cash inflow/(outflow) from operating activities

     21        (276)        2,202        242        2,189  

Cash flows from investing activities

                                            

Proceeds from disposals (net of cash disposed and deferred proceeds)

     -        -        222        -        222  

Interest received

     2        242        9        (242)        11  

Dividends received from equity accounted investments

     -        -        31        -        31  

Purchase of property, plant and equipment

     -        -        (1,044)        -        (1,044)  

Advances from subsidiary and parent undertakings

     407        356        -        (763)        -  

Acquisition of subsidiaries (net of cash acquired)

     -        -        (1,841)        -        (1,841)  

Other investments and advances

     -        -        (11)        -        (11)  

Deferred and contingent acquisition consideration paid

     -        -        (53)        -        (53)  

Net cash inflow/(outflow) from investing activities

     409        598        (2,687)        (1,005)        (2,685)  

Cash flows from financing activities

                                            

Proceeds from issue of shares (net)

     42        -        -        -        42  

Transactions involving non-controlling interests

     -        -        (37)        -        (37)  

Advances to subsidiary and parent undertakings

     -        -        (763)        763        -  

Increase in interest-bearing loans, borrowings and finance leases

     -        6        1,004        -        1,010  

Net cash flow arising from derivative financial instruments

     -        11        158        -        169  

Premium paid on early debt redemption

     -        (18)        -        -        (18)  

Treasury/own shares purchased

     (3)        -        -        -        (3)  

Repayment of interest-bearing loans, borrowings and finance leases

     -        (321)        (22)        -        (343)  

Dividends paid to equity holders of the Company

     (469)        -        -        -        (469)  

Dividends paid to non-controlling interests

     -        -        (8)        -        (8)  

Net cash (outflow)/inflow from financing activities

     (430)        (322)        332        763        343  
                                              

Decrease in cash and cash equivalents

     -        -        (153)        -        (153)  

Reconciliation of opening to closing cash and cash equivalents

                                            

Cash and cash equivalents at 1 January

     401        -        2,048        -        2,449  

Translation adjustment

     -        -        (161)        -        (161)  

Decrease in cash and cash equivalents

     -        -        (153)        -        (153)  

Cash and cash equivalents at 31 December

     401        -        1,734        -        2,135  

 

       

 

Supplemental Condensed Consolidated Statement of Cash Flow

 

     Year ended 31 December 2016  
     Guarantor
m
     Issuer
m
     Non-Guarantor
subsidiaries
m
    

Eliminate and
reclassify

m

    CRH and
subsidiaries
m
 

Cash flows from operating activities

                                           

Profit before tax from continuing operations

     1,593        104        1,589        (1,666     1,620  

Profit before tax from discontinued operations

     121        -        121        (121     121  

Profit before tax

     1,714        104        1,710        (1,787)       1,741  

Finance costs (net)

     (2)        (9)        394        -       383  

Share of subsidiaries’ profit before tax

     (1,650)        (95)        -        1,745       -  

Share of equity accounted investments’ profit

     (42)        -        (42)        42       (42)  

Profit on disposals

     -        -        (55)        -       (55)  

Group operating profit

     20        -        2,007        -       2,027  

Depreciation charge

     -        -        1,009        -       1,009  

Amortisation of intangible assets

     -        -        71        -       71  

Impairment charge

     -        -        23        -       23  

Share-based payment (income)/expense

     (3)        -        49        -       46  

Other (primarily pension payments)

     -        -        (65)        -       (65)  

Net movement on working capital and provisions

     -        (1)        57        -       56  

Cash generated from operations

     17        (1)        3,151        -       3,167  

Interest paid (including finance leases)

     -        (266)        (355)        275       (346)  

Corporation tax paid

     -        (41)        (440)        -       (481)  

Net cash inflow/(outflow) from operating activities

     17        (308)        2,356        275       2,340  

Cash flows from investing activities

                                           

Proceeds from disposals (net of cash disposed and deferred proceeds)

     -        -        283        -       283  

Interest received

     2        275        6        (275)       8  

Dividends received from equity accounted investments

     -        -        40        -       40  

Purchase of property, plant and equipment

     -        -        (853)        -       (853)  

Advances from subsidiary and parent undertakings

     287        644        -        (931)       -  

Acquisition of subsidiaries (net of cash acquired)

     -        -        (149)        -       (149)  

Other investments and advances

     -        -        (7)        -       (7)  

Deferred and contingent acquisition consideration paid

     -        -        (57)        -       (57)  

Net cash inflow/(outflow) from investing activities

     289        919        (737)        (1,206)       (735)  

Cash flows from financing activities

                                           

Proceeds from issue of shares (net)

     52        -        -        -       52  

Advances to subsidiary and parent undertakings

     -        -        (931)        931       -  

Increase in interest-bearing loans, borrowings and finance leases

     -        -        600        -       600  

Net cash flow arising from derivative financial instruments

     -        25        (30)        -       (5)  

Treasury/own shares purchased

     (4)        -        -        -       (4)  

Repayment of interest-bearing loans, borrowings and finance leases

     (9)        (636)        (1,370)        -       (2,015)  

Dividends paid to equity holders of the Company

     (352)        -        -        -       (352)  

Dividends paid to non-controlling interests

     -        -        (8)        -       (8)  

Net cash (outflow)/inflow from financing activities

     (313)        (611)        (1,739)        931       (1,732)  
                                             

Decrease in cash and cash equivalents

     (7)        -        (120)        -       (127)  

Reconciliation of opening to closing cash and cash equivalents

                                           

Cash and cash equivalents at 1 January

     408        -        2,110        -       2,518  

Translation adjustment

     -        -        58        -       58  

Decrease in cash and cash equivalents

     (7)        -        (120)        -       (127)  

Cash and cash equivalents at 31 December

     401        -        2,048        -       2,449  

 

   

 

 

 

Supplemental Condensed Consolidated Statement of Cash Flow

 

     Year ended 31 December 2015  
    

Guarantor

m

    

Issuer

m

     Non-Guarantor
subsidiaries
m
   

Eliminate
and

reclassify

m

    CRH and
subsidiaries
m
 

Cash flows from operating activities

                                          

Profit/(loss) before tax from continuing operations

     915        74        (559     490       920  

Profit before tax from discontinued operations

     113        -        113       (113     113  

Profit/(loss) before tax

     1,028        74        (446)       377       1,033  

Finance costs (net)

     (1)        (12)        402       -       389  

Share of subsidiaries’ loss/(profit) before tax

     483        (62)        -       (421)       -  

Share of equity accounted investments’ profit

     (44)        -        (44)       44       (44)  

Loss/(profit) on disposals

     7        -        (108)       -       (101)  

Group operating profit/(loss)

     1,473        -        (196)       -       1,277  

Depreciation charge

     -        -        843       -       843  

Amortisation of intangible assets

     -        -        55       -       55  

Impairment charge

     -        -        44       -       44  

Share-based payment (income)/expense

     (2)        -        29       -       27  

Other (primarily pension payments)

     -        -        (47)       -       (47)  

Amounts due from subsidary undertakings

     (1,460)        -        1,460       -       -  

Net movement on working capital and provisions

     -        (9)        594       -       585  

Cash generated from operations

     11        (9)        2,782       -       2,784  

Interest paid (including finance leases)

     -        (283)        (352)       333       (302)  

Corporation tax paid

     -        (29)        (206)       -       (235)  

Net cash inflow/(outflow) from operating activities

     11        (321)        2,224       333       2,247  

Cash flows from investing activities

                                          

Proceeds from disposals (net of cash disposed and deferred proceeds)

     -        -        889       -       889  

Interest received

     1        333        7       (333)       8  

Dividends received from equity accounted investments

     -        -        53       -       53  

Purchase of property, plant and equipment

     -        -        (882)       -       (882)  

Advances from subsidiary and parent undertakings

     (699)        (632)        -       1,331       -  

Acquisition of subsidiaries (net of cash acquired)

     -        -        (7,296)       -       (7,296)  

Other investments and advances

     -        -        (19)       -       (19)  

Deferred and contingent acquisition consideration paid

     -        -        (59)       -       (59)  

Net cash outflow from investing activities

     (698)        (299)        (7,307)       998       (7,306)  

Cash flows from financing activities

                                          

Proceeds from issue of shares (net)

     -        -        1,593       -       1,593  

Proceeds from exercise of share options

     57        -        -       -       57  

Advances to subsidiary and parent undertakings

     -        -        1,331       (1,331)       -  

Increase in interest-bearing loans, borrowings and finance leases

     9        1,584        4,040       -       5,633  

Net cash flow arising from derivative financial instruments

     -        15        32       -       47  

Premium paid on early debt redemption

     -        (38)        -       -       (38)  

Treasury/own shares purchased

     (3)        -        -       -       (3)  

Repayment of interest-bearing loans, borrowings and finance leases

     -        (968)        (1,776)       -       (2,744)  

Dividends paid to equity holders of the Company

     (379)        -        -       -       (379)  

Dividends paid to non-controlling interests

     -        -        (4)       -       (4)  

Net cash (outflow)/inflow from financing activities

     (316)        593        5,216       (1,331)       4,162  
                                            

(Decrease)/increase in cash and cash equivalents

     (1,003)        (27)        133       -       (897)  

Reconciliation of opening to closing cash and cash equivalents

                                          

Cash and cash equivalents at 1 January

     1,411        25        1,859       -       3,295  

Translation adjustment

     -        2        118       -       120  

(Decrease)/increase in cash and cash equivalents

     (1,003)        (27)        133       -       (897)  

Cash and cash equivalents at 31 December

     408        -        2,110       -       2,518