Barclays 2005 Annual Report Download - page 206

45 Acquisitions (continued)
(b) Other acquisitions
In addition to Absa, the Group acquired control of the following entities, none of which was individually material:
% Acquired Date
Iveco Finance Group 51 01/06/05
ING Securities Bank (France) wealth business 100 01/07/05
Details of the net assets acquired and the consideration paid are set out in aggregate below.
Fair
Carrying value value Fair
pre-acquisitions adjustments values
£m £m £m
Cash and balances at central banks 2–2
Loans and advances to customers 1,931 3 1,934
Intangible assets 11920
Other assets 148 1 149
Total assets 2,082 23 2,105
Liabilities
Other liabilities 1,998 9 2,007
Total liabilities 1,998 9 2,007
Net assets acquired 84 14 98
Goodwill 53
Acquisition cost
Cash paid 144
Attributable costs 7
Total consideration 151
In aggregate, the acquired businesses contributed £347m to consolidated profit before tax for the period from acquisition date to 31st December 2005.
If all of the above acquisitions had occurred on 1st January 2005 (for 2004 on 1st January 2004), total Group income would have been £19,285m
(2004: £17,466m) and profit before tax would have been £5,528m (2004: £4,974m).
Assuming that the acquisition of Absa alone occurred on 1st January 2005 (for 2004 on 1st January 2004) the Group would have reported total
income of £19,238m (2004: £17,366m), profit before tax of £5,504m (2004: £4,952m), net profit for the year of £3,999m (2004: £3,567m) and
basic earnings per share of 56.1p (2004: 53.7p).
The earnings per share figure assumes the shares issued in relation to the acquisition were issued on 1st January 2005 (for 2004 on 1st January 2004).
The initial accounting for all business combinations that took effect during the year has been determined only provisionally as a result of the
proximity of the acquisitions to the year end.
Cash outflows in respect of acquisitions
The aggregate net outflow of cash from the acquisition of the above Group entities was as follows:
2005
£m
Cash consideration 2,909
Cash and cash equivalents acquired (794)
Cash outflow on acquisition 2,115
Notes to the accounts
For the year ended 31st December 2005
Barclays PLC
Annual Report 2005
204