| |
|
|
2014
Rm |
|
|
Restated
2013
Rm |
|
| 33. |
Notes to the consolidated statement of cash flows |
|
|
|
|
|
| |
33.1 |
Cash generated by operations before capital expenditure on rental assets |
|
|
|
|
|
| |
|
Profit before net financing costs |
5 807 |
|
|
5 751 |
|
| |
|
Amortisation of intangible assets, net of recoupments |
77 |
|
|
62 |
|
| |
|
Amortisation of intangible assets arising on business combinations |
336 |
|
|
254 |
|
| |
|
Depreciation of property, plant and equipment |
691 |
|
|
634 |
|
| |
|
Depreciation of transport fleet, net of recoupments |
757 |
|
|
684 |
|
| |
|
Depreciation of vehicles for hire, net of recoupments |
652 |
|
|
680 |
|
| |
|
Profit on disposal of property, plant and equipment |
(151) |
|
|
(25) |
|
| |
|
Impairment of assets |
46 |
|
|
27 |
|
| |
|
Exceptional items |
(36) |
|
|
178 |
|
| |
|
Fair value gains on investments |
(188) |
|
|
(171) |
|
| |
|
Foreign exchange gains |
(15) |
|
|
(92) |
|
| |
|
Fair value gains |
28 |
|
|
118 |
|
| |
|
Gain on disposal of available-for-sale financial assets |
(1) |
|
|
(10) |
|
| |
|
Recognition of share-based costs |
104 |
|
|
116 |
|
| |
|
Charge for amending the conversion profile of the deferred ordinary shares |
70 |
|
|
|
|
| |
|
Net movement in insurance, investments, maintenance and warranty contracts |
352 |
|
|
622 |
|
| |
|
Remeasurement of contingent consideration liabilities |
(18) |
|
|
(66) |
|
| |
|
Remeasurement of put option liability |
16 |
|
|
|
|
| |
|
Business acquisition costs |
22 |
|
|
15 |
|
| |
|
Increase in retirement benefit obligations |
19 |
|
|
18 |
|
| |
|
Cash generated by operations before changes in working capital |
8 568 |
|
|
8 795 |
|
| |
|
Working capital movements |
|
|
|
|
|
| |
|
Increase in inventories |
(1 186) |
|
|
(2 289) |
|
| |
|
Increase in trade and other receivables |
(925) |
|
|
(448) |
|
| |
|
(Decrease) increase in trade and other payables and provisions |
(768) |
|
|
1 133 |
|
| |
|
|
5 689 |
|
|
7 191 |
|
|
33.2 |
Acquisition of subsidiaries and businesses |
|
|
|
|
|
| |
|
Goodwill |
579 |
|
|
331 |
|
| |
|
Intangible assets |
949 |
|
|
323 |
|
| |
|
Property, plant and equipment |
62 |
|
|
95 |
|
| |
|
Transport fleet |
|
|
|
72 |
|
| |
|
Inventories |
957 |
|
|
151 |
|
| |
|
Trade and other receivables |
431 |
|
|
442 |
|
| |
|
Cash resources |
358 |
|
|
49 |
|
| |
|
Net deferred tax asset (liabilities) |
4 |
|
|
(70) |
|
| |
|
Non-controlling interests |
(279) |
|
|
(21) |
|
| |
|
Interest-bearing borrowings |
(580) |
|
|
(73) |
|
| |
|
Other financial liabilities |
(69) |
|
|
(8) |
|
| |
|
Provisions for liabilities and other charges |
(58) |
|
|
(28) |
|
| |
|
Trade and other payables |
(1 428) |
|
|
(482) |
|
| |
|
Net current tax liabilities |
(15) |
|
|
(5) |
|
| |
|
Purchase consideration transferred |
911 |
|
|
776 |
|
| |
|
Contingent consideration |
|
|
|
(75) |
|
| |
|
Deferred liability |
(299) |
|
|
|
|
| |
|
Fair value of previously held interest |
|
|
|
(1) |
|
| |
|
Business acquisition costs |
22 |
|
|
15 |
|
| |
|
Cash resources acquired |
(358) |
|
|
(49) |
|
| |
|
Cash flow on acquisition |
276 |
|
|
666 |
|
|
33.3 |
Disposal of subsidiaries and businesses# |
|
|
|
|
|
| |
|
Intangible assets |
2 |
|
|
6 |
|
| |
|
Investments, loans, associates and joint ventures |
|
|
|
173 |
|
| |
|
Property, plant and equipment |
3 |
|
|
208 |
|
| |
|
Net deferred tax assets (liabilities) |
1 |
|
|
(2) |
|
| |
|
Vehicles for hire |
54 |
|
|
35 |
|
| |
|
Inventories |
1 |
|
|
180 |
|
| |
|
Trade and other receivables |
61 |
|
|
497 |
|
| |
|
Cash resources |
29 |
|
|
21 |
|
| |
|
Non-controlling interests |
(2) |
|
|
(113) |
|
| |
|
Net current tax liabilities |
|
|
|
(3) |
|
| |
|
Interest-bearing borrowings |
4 |
|
|
(526) |
|
| |
|
Provisions for liabilities and other charges |
(4) |
|
|
(17) |
|
| |
|
Trade and other payables |
(84) |
|
|
(279) |
|
| |
|
Net assets disposed |
65 |
|
|
180 |
|
| |
|
Cash resources disposed |
(29) |
|
|
(21) |
|
| |
|
Fair value of listed shares received (Level 1 in the fair value hierarchy) |
(168) |
|
|
|
|
| |
|
Liability incurred |
30 |
|
|
|
|
| |
|
Profit (loss) on disposal of subsidiaries and businesses |
81 |
|
|
(32) |
|
| |
|
Cash flow on disposal |
(21) |
|
|
127 |
|
|
33.4 |
Net replacement capital expenditure –
excluding rental assets |
|
|
|
|
|
| |
|
Expenditure |
|
|
|
|
|
| |
|
– Intangible assets |
(145) |
|
|
(116) |
|
| |
|
– Plant and equipment |
(820) |
|
|
(608) |
|
| |
|
– Transport fleet |
(714) |
|
|
(537) |
|
| |
|
|
(1 679) |
|
|
(1 261) |
|
| |
|
Proceeds on disposals |
|
|
|
|
|
| |
|
– Intangible assets |
3 |
|
|
7 |
|
| |
|
– Plant and equipment |
223 |
|
|
143 |
|
| |
|
– Transport fleet |
291 |
|
|
300 |
|
| |
|
|
517 |
|
|
450 |
|
| |
|
Net expenditure |
|
|
|
|
|
| |
|
– Intangible assets |
(142) |
|
|
(109) |
|
| |
|
– Plant and equipment |
(597) |
|
|
(465) |
|
| |
|
– Transport fleet |
(423) |
|
|
(237) |
|
| |
|
|
(1 162) |
|
|
(811) |
|
|
33.5 |
Cash and cash equivalents |
|
|
|
|
|
| |
|
Cash resources |
3 103 |
|
|
1 844 |
|
| |
|
Cash resources included in assets classified as held for sale |
|
|
|
4 |
|
| |
|
Short-term loans and overdrafts |
(2 205) |
|
|
(2 328) |
|
| |
|
|
898 |
|
|
(480) |
|