Experian 2009 Annual Report Download - page 134

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132 Experian Annual Report 2009
32. Notes to the Group cash ow statement
2009 2008
(Restated)
(Note 2)
US$m US$m
(a) Cash generated from operations
Prot after tax 494 430
Adjustments for:
Tax expense 84 91
Share of post-tax prots of associates (42) (50)
Net nancing costs 77 154
Operating prot 613 625
Loss on sale of property, plant and equipment 6 3
Loss on sale of other intangible assets 3 –
Loss on disposal of subsidiaries 3 –
Depreciation and amortisation 420 406
Goodwill adjustment 1 2
Write down of investment in associate 5 –
Charge in respect of equity incentive plans 52 66
Change in working capital (note 32(b)) 7 23
Exceptional items included in working capital (8) 9
Cash generated from operations 1,102 1,134
(b) Change in working capital
Increase in inventories (2) –
Decrease/(increase) in receivables 24 (51)
(Decrease)/increase in payables (11) 79
Difference between pension contributions paid and amounts recognised in Group income statement (4) (5)
Change in working capital 7 23
(c) Interest paid
Interest paid on bonds, bank loans and overdrafts 155 166
Interest element of nance lease rental payments 2 2
Total interest paid 157 168
(d) Purchase of other intangible assets
Databases 153 148
Internally generated software 38 42
Internal use software 39 32
Purchase of other intangible assets 230 222
(e) Acquisition of subsidiaries
Purchase of subsidiary undertakings (including acquisition expenses) (note 33(a)) (124) (1,726)
Net cash acquired with subsidiary undertakings (note 33(a)) 4 60
Deferred consideration settled on acquisitions made in previous years (59) (54)
Net cash outow for acquisition of subsidiaries (179) (1,720)
(f) Disposal of subsidiaries
Proceeds of disposal of transaction processing activities in France (note 33(b)) 191 –
Sale of other businesses (note 33(c)) – 6
Cash inow from disposal of subsidiaries 191 6
(g) Financing
Debt due within one year:
Repayment of borrowings (29) (746)
New borrowings – 29
Debt due after more than one year:
Repayment of borrowings (249) –
New borrowings 71 1,409
Net cash ow from debt nancing (207) 692
Notes to the Group nancial statements continued
Financial statements