Aer Lingus 2014 Annual Report Download - page 138

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136
34 Employee participation
Employee Share Ownership Trust (“ESOT”)
As at 31 December 2014, Aer Lingus Group plc holds 94,701 shares of Aer Lingus Group plc shares (0.02% of the issued share capital)
(2013: 102,907 shares) on trust for the benefit of certain beneficiaries (those that cannot be located and certain deceased beneficiaries). The
Aer Lingus ESOP Trustee Ltd (Trustee of the ESOT) approved the transfer of these shares, previously held in the Aer Lingus Approved
Profit Sharing Scheme, as well as some surplus monies also held by the ESOT to Aer Lingus Group plc in 2013, prior to winding up of the
scheme and dissolution of the trustee in 2014. Aer Lingus Group plc holds the shares on trust for the beneficiaries. As referred to in Note 23,
these monies are being held as restricted cash in Aer Lingus Group plc pending distribution to the beneficiaries of the ESOT.
35 Cash generated from operations
2014
2013
€'000
€'000
(Loss)/Profit before tax
(111,509)
39,558
Adjustments for:
- Depreciation and amortisation
89,952
82,927
- Net movements in provisions for other liabilities and charges
13,340
(7,393)
- Provision for IASS solution - once-off pension contribution
190,700
-
- Share of profit of joint venture
(611)
(6)
- Net fair value losses/ (gains) on derivative financial instruments
4,979
(738)
- Share awards and options
722
(696)
- Finance income
(9,934)
(10,837)
- Finance expense
13,686
15,075
- Other gains - net
(27,008)
(14,483)
- Net exceptional items - profit on disposal of assets
-
(1,943)
- Post employment benefit obligations (excluding net exceptional items)
3,058
757
- Net exceptional items - post retirement income streaming
(21,674)
-
Changes in working capital
- Inventories
(702)
(304)
- Trade and other receivables
(14,740)
(16,761)
- Trade and other payables
44,664
15,932
Cash generated from operations
174,923
101,088
Company
2014
2013
€'000
€'000
(Loss)/Profit before tax
(2)
27
Adjustments for:
- Finance income
-
(31)
- Increase/(decrease) in trade and other payables
293
-
Cash generated from/(used in) operations
291
(4)