Vodafone 2014 Annual Report Download - page 125
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7. Discontinued operations
On 21 February 2014, we completed the sale of our US Group whose principal asset was its 45% interest in Verizon
Wireless. The results of these discontinued operations are detailed below.
Income statement and segment analysis of discontinued operations
2014 2013 2012
£m £m £m
Share of result in associates 3,191 6,422 4,867
Net nancing income/(costs) 27 (56) (23)
Prot before taxation 3,218 6,366 4,844
Taxation relating to performance of discontinued operations (1,709) (1,750) (1,289)
Post-tax prot from discontinued operations 1,509 4,616 3,555
Gain on disposal of discontinued operations
2014 2013 2012
£m £m £m
Gain on disposal of discontinued operations before taxation (see note 28) 44,996 – –
Other items arising from the disposal11,603 – –
Net gain on disposal of discontinued operations 46,599 – –
Note:
1 Includes dividends received from Verizon Wireless after the date of the announcement of the disposal
Prot for the nancial year from discontinued operations
2014 2013 2012
£m £m £m
Prot for the nancial year from discontinued operations 1,509 4,616 3,555
Net gain on disposal of discontinued operations 46,599 – –
Prot for the nancial year from discontinued operations 48,108 4,616 3,555
Earnings per share from discontinued operations
2014 2013 2012
Pence per share Pence per share Pence per share
– Basic 181.74p 17.20p 12.87p
– Diluted 180.30p 17.20p 12.73p
Total comprehensive income for the nancial year from discontinued operations
2014 2013 2012
£m £m £m
Equity shareholders’ funds 48,108 4,616 3,555
Cash ows from discontinued operations
2014 2013 2012
£m £m £m
Net cash ows from operating activities (2,617) (1,464) (175)
Net cash ows from investing activities 4,830 4,798 4,318
Net cash ows from nancing activities (2,225) (5,164) (2,364)
Net (decrease)/increase in cash and cash equivalents (12) (1,830) 1,779
Cash and cash equivalents at the beginning of the nancial year –1,721 –
Exchange gain/(loss) on cash and cash equivalents 12 109 (58)
Cash and cash equivalents at the end of the nancial year – – 1,721
Annual Report 2014 123Overview Strategy
review Performance Governance Financials Additional
information