Holiday Inn 2011 Annual Report Download - page 45

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Summary financial statement 43
OVERVIEW GREAT BRANDS HOW WE OPERATE WHERE WE OPERATE FACTS AND FIGURES
Summarised Group statement of cash flows
2011 2010
For the year ended 31 December 2011 $m $m
Cash flow from operations 623 583
Net interest paid (55) (57)
Tax paid on operating activities (89) (64)
Net cash from operating activities 479 462
Capital expenditure (194) (95)
Proceeds from disposal of operations and other financial assets 157 135
Tax paid on disposals (1) (4)
Dividends paid to shareholders (148) (121)
Decrease in borrowings (119) (292)
Other financing movements (67) (34)
Net movement in cash and cash equivalents in the year 107 51
Cash and cash equivalents at beginning of the year 78 40
Exchange rate effects (3) (13)
Cash and cash equivalents at end of the year 182 78
Summarised Group statement of financial position
2011 2010
31 December 2011 $m $m
ASSETS
Property, plant and equipment 1,362 1,690
Goodwill and intangible assets 400 358
Investment in associates and joint ventures 87 43
Retirement benefit assets 21 5
Other financial assets 156 135
Non-current tax assets 147 79
Total non-current assets 2,173 2,310
Inventories 4 4
Trade and other receivables 369 371
Current tax receivable 20 13
Derivative financial instruments 3 –
Cash and cash equivalents 182 78
Total current assets 578 466
Non-current assets classified as held for sale 217 –
Total assets 2,968 2,776
LIABILITIES
Loans and other borrowings (21) (18)
Derivative financial instruments – (6)
Trade and other payables (707) (722)
Provisions (12) (8)
Current tax payable (120) (167)
Total current liabilities (860) (921)
Loans and other borrowings (670) (776)
Derivative financial instruments (39) (38)
Retirement benefit obligations (188) (200)
Trade and other payables (497) (464)
Provisions (2) (2)
Deferred tax liabilities (97) (84)
Total non-current liabilities (1,493) (1,564)
Liabilities classified as held for sale (60) –
Total liabilities (2,413) (2,485)
Net assets 555 291
IHG shareholders’ equity 547 284
Non-controlling interest 8 7
Total equity 555 291