Holiday Inn 2009 Annual Report Download - page 85

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GROUP FINANCIAL
STATEMENTS
Notes to the Group financial statements 83
11 Assets sold, held for sale and discontinued operations continued
2009 2008
$m $m
Net assets of hotels sold
Property, plant and equipment 22 28
Cash and cash equivalents –8
Group’s share of net assets disposed of 22 36
Consideration
Current year disposals:
Cash consideration, net of costs paid 20 34
Net assets disposed of (22) (36)
Prior year disposals:
Provision release 2–
Tax 45
Gain on disposal of assets, net of tax 43
Analysed as:
Loss on disposal of hotels from continuing operations (note 5) (2) (2)
Profit for the year from discontinued operations (note 5) 65
43
Net cash inflow
Current year disposals:
Cash consideration, net of costs paid 20 34
Cash disposed of –(8)
Prior year disposals –(1)
20 25
12 Goodwill
2009 2008
$m $m
Cost
At 1 January 206 221
Exchange and other adjustments 17 (15)
At 31 December 223 206
Impairment
At 1 January (63) –
Impairment charge (78) (63)
At 31 December (141) (63)
Net book value
At 31 December 82 143
At 1 January 143 221
Goodwill arising on business combinations that occurred before 1 January 2005 was not restated on adoption of IFRS as permitted by IFRS 1.