Experian 2013 Annual Report Download - page 152
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Notes to the Group financial statements continued
38. Deferred and current tax (continued)
(b) Net current tax assets/(liabilities)
2013
US$m
2012
US$m
At 1 April (46) (124)
Differences on exchange – (1)
Tax charge in the Group income statement – continuing operations (note 16) (184) (49)
Tax credit in the Group income statement – discontinued operations (note 17) 136 5
Tax recognised directly in equity on transactions with owners (note 41) 21 15
Tax paid (note 44(d)) 75 116
Business combinations – (5)
Transfer in respect of assets held for sale 5 (5)
Other transfers 1 2
At 31 March 8 (46)
Net current tax assets/(liabilities) are presented in the Group balance sheet as:
Current tax assets 49 10
Current tax liabilities (41) (56)
At 31 March 8 (46)
39. Provisions
2013 2012
Restructuring
costs
US$m
Other
liabilities
US$m
Total
US$m
Restructuring
costs
US$m
Other
liabilities
US$m
Total
US$m
At 1 April 3 45 48 11 55 66
Differences on exchange – (5) (5) – (6) (6)
Business combinations – – – – 3 3
Amount charged in the year 21 11 32 – 8 8
Utilised (6) (16) (22) (8) (16) (24)
Unwinding of discount (note 15) – – – – 1 1
At 31 March 18 35 53 3 45 48
Disclosed within current liabilities 17 35 52 2 36 38
Disclosed within non-current liabilities 1 – 1 1 9 10
At 31 March 18 35 53 3 45 48
Restructuring costs in the year ended 31 March 2013 and the provision at that date principally comprise liabilities in connection with the cost
efficiency programme and the amounts recognised and the timing of the related outflows are based on current expectations in respect of this
programme. It is anticipated that the programme will be completed by December 2014.
Other liabilities principally comprise liabilities of Serasa, in connection with local legal and tax issues, which were primarily recognised on the
acquisition of that company in 2007. Adjustments to such amounts are made as the exposures are concluded.