Tesco 2012 Annual Report Download - page 113

Download and view the complete annual report

Please find page 113 of the 2012 Tesco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 158

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158

STRATEGIC REVIEW PERFORMANCE REVIEW GOVERNANCE FINANCIAL STATEMENTS
OVERVIEW
Note 7 Discontinued operations and non-current assets classified as held for sale continued
52 weeks
ended
25 February
2012
£m
52 weeks
ended
26 February
2011
£m
Non-GAAP measure: underlying loss before tax
Loss before tax on discontinued operations (128) (106)
Adjustments for:
Restructuring and other one-off costs
Restructuring costs 23 9
Store impairment cost relating to fair value of assets of the disposal group 57 –
Intangible asset impairment cost relating to fair value of assests of the disposal group 20 –
100 9
IAS 36 ‘Impairments of Assets’ – impairment of goodwill arising on acquisitions –55
Underlying loss before tax on discontinued operations (28) (42)
Balance Sheet
25 February
2012
£m
Assets of the disposal group
Inventories 16
Trade and other receivables 43
Cash and cash equivalents 6
Total assets of the disposal group 65
Liabilities of the disposal group
Trade and other payables (68)
Borrowings (1)
Total liabilities of the disposal group (69)
Total net liabilities of the disposal group (4)
Future minimum rentals payable under non-cancellable operating leases associated with operations in Japan amount to £113m.
Cash Flow Statement
52 weeks
ended
25 February
2012
£m
52 weeks
ended
26 February
2011
£m
Net cash flows from operating activities (53) (50)
Net cash flows from investing activities 6(27)
Net cash flows from financing activities 46 73
Net cash flows from discontinued operations (1) (4)
Note 8 Dividends
2012 2011
pence/share £m pence/share £m
Amounts recognised as distributions to owners in the financial year:
Final dividend for the prior financial year 10.09 811 9.16 730
Interim dividend for the current financial year 4.63 369 4.37 351
14.72 1,180 13.53 1,081
Proposed final dividend for the current financial year 10.13 815 10.09 812
The proposed final dividend was approved by the Board of Directors on 17 April 2012 and is subject to the approval of shareholders at the Annual
General Meeting. The proposed dividend has not been included as a liability as at 25 February 2012, in accordance with IAS 10 ‘Events After the
Balance Sheet Date’. It will be paid on 6 July 2012 to shareholders who are on the Register of members at close of business on 27 April 2012.
Tesco PLC Annual Report and Financial Statements 2012 109