Experian 2014 Annual Report Download - page 146
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Financial statements • Notes to the Group financial statements
Notes to the Group financial statements
for the year ended 31 March 2014 continued
142
27. Net debt (non-GAAP measure) continued
(c) Analysis of movements in net debt continued
Cash and cash
equivalents
US$m
Current
borrowings
US$m
Non-current
borrowings
US$m
Net debt by
balance sheet
caption
US$m
Accrued
interest
excluded from
net debt
US$m
Derivatives
hedging
loans and
borrowings
US$m
Net debt
US$m
At 1 April 2012 254 (13) (2,179) (1,938) 17 103 (1,818)
Cash outflow (888) – – (888) – – (888)
Borrowings cash flow 1,123 (91) (1,032) – – – –
Reclassification of borrowings – (571) 571 – – – –
Net interest paid (68) – – (68) – – (68)
Movement on accrued
interest – – – – 2 – 2
Net cash inflow/(outflow) 167 (662) (461) (956) 2 – (954)
Net share purchases (180) – – (180) – – (180)
Fair value gains and losses – 15 (47) (32) – 44 12
Exchange and other
movements (12) 25 61 74 – (72) 2
At 31 March 2013 229 (635) (2,626) (3,032) 19 75 (2,938)
28. Available-for-sale financial assets
Available-for-sale financial assets of US$46m (2013: US$41m) comprise listed investments of US$43m (2013: US$38m) held in the
UK to secure certain unfunded pension arrangements (note 34) and investments held overseas of US$3m (2013: US$3m).
During the year ended 31 March 2014, there was a gain of US$5m (2013: US$3m) recognised in the Group statement of
comprehensive income on the change in value of available-for-sale financial assets.
29. Other financial assets and liabilities
(a) Summary of other financial assets and liabilities
Assets
2014 2013
Current
US$m
Non-current
US$m
Total
US$m
Current
US$m
Non-current
US$m
Total
US$m
Loans and receivables 17 74 91 – 79 79
Derivative financial instruments:
Fair value hedge of borrowings (cross currency swaps) – 143 143 – 70 70
Fair value hedge of borrowings (interest rate swaps) – – – 18 4 22
Derivatives used for hedging – 143 143 18 74 92
Non-hedging derivatives (equity swaps) 2 – 2 5 3 8
Non-hedging derivatives (foreign exchange contracts) 5 – 5 4 – 4
Non-hedging derivatives (interest rate swaps) – 12 12 – – –
Assets at fair value through profit and loss 7 12 19 9 3 12
Derivative financial instruments 7 155 162 27 77 104
Other derivatives 3 – 3 – – –
Total other financial assets 27 229 256 27 156 183