Carphone Warehouse 2015 Annual Report Download - page 120
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Dixons Carphone plc Annual Report and Accounts 2014/15
Financial statements
Notes to the Group financial statements
118
19 Provisions
2 May 2015 29 March 2014
Reorganisation
£million
Sales
£million
Other
£million
Total
£million
Reorganisation
£million
Sales
£million
Other
£million
Total
£million
A
t beginning of period 22 10 18 50 — — 7 7
CPW Europe Acquisition — — — — 35 11 17 63
Merger 31 — 27 58 — — — —
A
dditions 39 2 7 48 — 3 4 7
Released in the period (4) — — (4) — — (3) (3)
Utilised in the period (63) (5) (4) (72) (13) (4) (7) (24)
Reclassification to held for sale (1) — (1) (2) — — — —
Disposal of business — — (1) (1) — — — —
Foreign exchange (1) (1) — (2) — — — —
A
t end of period 23 6 46 75 22 10 18 50
A
nalysed as:
Current 20 6 28 54 22 10 18 50
Non-current 3 — 18 21 — — — —
23 6 46 75 22 10 18 50
A description of each provision is included in note 1.
Provisions recognised as part of the Merger primarily comprise provisions for onerous property lease contracts (within other) and
Merger related costs (within reorganisation).
Additions during the year ended 2 May 2015 relate to restructuring charges arising from the Merger, restructuring provisions
recognised by the businesses in Germany and the Netherlands prior to becoming discontinued operations held for sale and
provisions recognised by the Group relating to the disposal of discontinued operations.
Other provisions include £25 million in relation to onerous property lease contracts at 2 May 2015.
Non-current provisions are expected to be utilised over a period up to ten years.