Holiday Inn 2014 Annual Report Download - page 135

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17. Cash and cash equivalents
2014
$m
2013
(restated1)
$m
2012
(restated1)
$m
Cash at bank and in hand 157 177 249
Short-term deposits 571 138
162 248 387
1 Restated for the adoption of ‘Offsetting Financial Assets and Financial Liabilities’ (Amendments to IAS 32), see page 107.
Cash at bank and in hand includes bank balances of $108m (2013 $114m, 2012 $194m) which are matched by bank overdrafts of $107m
(2013 $114m, 2012 $192m) under the Group’s cash pooling arrangements. Under these arrangements, each pool contains a number
of bank accounts with the same financial institution and the Group pays interest on net overdraft balances within each pool. The cash
pools are used for day-to-day cash management purposes and are managed as closely as possible to a zero balance on a net basis for
each pool. Overseas subsidiaries are typically in a cash positive position with the matching overdrafts held by the Group’s central treasury
company in the UK.
For the purposes of the Group statement of cash flows, cash and cash equivalents comprise the following:
2014
$m
2013
(restated1)
$m
2012
(restated1)
$m
Cash at bank and in hand 157 177 249
Short-term deposits 571 138
162 248 387
Bank overdrafts (note 21) (107) (114) (192)
55 134 195
1 Restated for the adoption of ‘Offsetting Financial Assets and Financial Liabilities’ (Amendments to IAS 32), see page 107.
Short-term deposits are highly liquid investments with an original maturity of three months or less.
Cash and cash equivalents includes $4m (2013 $12m, 2012 $7m) that is not available for use by the Group due to local exchange controls
in Venezuela and Argentina.
STRATEGIC REPORT GOVERNANCE
GROUP
FINANCIAL STATEMENTS
PARENT COMPANY
FINANCIAL STATEMENTS
ADDITIONAL
INFORMATION
133