Experian 2014 Annual Report Download - page 164
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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
160
42. Disposal of comparison shopping and lead generation businesses
(a) Profit on disposal – year ended 31 March 2013
US$m
Book value of net assets sold:
Goodwill 11
Other intangible assets 35
Property, plant and equipment 8
Trade receivables 23
Other prepayments and accrued income 14
Deferred tax liability (2)
Trade payables (1)
Accruals and deferred income (20)
Book value of net assets sold 68
Disposal proceeds:
Cash 2
Loan note 78
Transaction costs (12)
Net proceeds 68
Profit on disposal –
(b) Cash inflow/(outflow) on disposal
2014
US$m
2013
US$m
Partial redemption of loan note 5 –
Other proceeds received in cash – 2
Transaction costs paid – (10)
Net cash inflow/(outflow) 5 (8)
As indicated in note 17, the comparison shopping and lead generation businesses were sold in October 2012. Further consideration
is available to Experian if defined profit targets are achieved over time and in certain other circumstances, up to a fully inclusive total
of US$110m.
43. Operating lease commitments – minimum lease payments
2014
US$m
2013
US$m
Commitments under non-cancellable operating leases are payable:
In less than one year 69 73
Between one and five years 163 149
In more than five years 68 51
300 273
The Group leases offices, vehicles and technology under non-cancellable operating lease agreements with varying terms, escalation
clauses and renewal rights and the charge for the year was US$72m (2013: US$71m).