Experian 2016 Annual Report Download - page 169
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167•Notes to the Group nancial statementsFinancial statements
(g) Reconciliation of Cash generated from operations to Operating cash flow (non-GAAP measure)
2016
US$m
2015
US$m
Cash generated from operations (note 37(a)) 1,570 1,720
Purchase of other intangible assets (271) (316)
Purchase of property, plant and equipment (68) (64)
Sale of property, plant and equipment 13 2
Acquisition expenses paid 3 1
Dividends received from associates 3 4
Cash outflow in respect of security incident 20 –
Cash outflow in respect of restructuring programme –12
Operating cash flow (non-GAAP measure) 1,270 1,359
Free cash flow for the year ended 31 March 2016 was US$1,065m (2015: US$1,135m). Cash flow conversion for the year ended
31 March 2016 was 105% (2015: 104%).
38. Acquisitions
(a) Acquisitions in the year
The Group completed no acquisitions during the year ended 31 March 2016. The cash outflow of US$13m reported in the Group cash
flow statement in the year ended 31 March 2016 arose in connection with earlier acquisitions.
(b) Prior year acquisitions
There was a cash outflow of US$58m reported in the Group cash flow statement in the year ended 31 March 2015, after a deduction
of US$3m for net cash acquired with subsidiaries.
Other than an adjustment to the fair value of contingent consideration of US$2m recognised in the income statement in the year
ended 31 March 2016, there have been no material gains, losses, error corrections or other adjustments recognised that relate to
acquisitions in earlier years.
39. Commitments
(a) Operating lease commitments
2016
US$m
2015
US$m
Commitments under non-cancellable operating leases are payable:
In less than one year 58 62
Between one and five years 114 126
In more than five years 48 61
220 249
The Group leases offices, vehicles and technology under non-cancellable operating lease agreements with varying terms, escalation
clauses and renewal rights. The charge for the year was US$64m (2015: US$68m).
(b) Capital commitments
2016
US$m
2015
US$m
Capital expenditure for which contracts have been placed:
Intangible assets 18 70
Property, plant and equipment 6 8
24 78
Capital commitments at 31 March 2016 include commitments of US$13m not expected to be incurred before 31 March 2017.
Commitments as at 31 March 2015 included US$45m not then expected to be incurred before 31 March 2016.