Barclays 2004 Annual Report Download - page 185
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Barclays PLC Annual Report 2004
183183
41 Analysis of the net outflow of cash in respect of the acquisitions
2004 2003 2002
£m £m £m
Cash consideration, including acquisition expenses 227 1,103 454
Cash at bank and in hand acquired (16) (118) (3)
Net outflow of cash in respect of the purchase of Group undertakings 211 985 451
42 Sale of Group undertakings during the year
2004 2003 2002
Net cash outflow from formation of FirstCaribbean International Bank Ltd £m £m £m
Advances and other accounts ––3,277
Deposits and other borrowings ––(3,189)
Net assets disposed of ––88
Balance transferred to associated undertaking ––(366)
Profit on disposal reflected in statement of total recognised gains and losses ––206
Amounts not yet settled (including deferred consideration) ––28
Cash at bank and in hand disposed of ––(116)
Net cash outflow from formation of FirstCaribbean International Bank Ltd ––(160)
In 2002 the balance transferred to associated undertakings comprised the Group’s share of the net assets disposed of and the Group’s share of the
net assets acquired from the Canadian Imperial Bank of Commerce and goodwill thereon. Fair value adjustments of (£1m) were applied to the
assets acquired primarily relating to loans and advances to customers and customer accounts.
2004 2003 2002
Sale of Group undertakings £m £m £m
Goodwill written off ––10
Advances and other accounts –65 2
Deposits and other borrowings –(30) (1)
Net assets disposed of –35 11
Net profit/(loss) on disposal –4(3)
Amounts not yet settled (including deferred consideration) ––(8)
Cash at bank and in hand disposed of ––(1)
Net cash inflow/(outflow) from sale of Group undertakings –39 (1)
43 Changes in financing during the year
The following table does not include the premium and legal costs on the repurchase of ordinary shares of £664m and takes account ofthe
Group’s contribution to the Employee Share Option Plan (ESOP) of £54m.
Non- Undated Dated
recourse loan loan Ordinary Share Minority
financing capital capital shares premium interests
£m £m £m £m £m £m
Barclays PLC
At beginning of year 4,513 6,310 6,029 1,642 5,417 283
Exchange rate and other movements – (161) 44 – – (122)
Net cash inflow/(outflow) from financing 4,264 – 55 (28) 107 740
At end of year 8,777 6,149 6,128 1,614 5,524 901