2005 Annual Report - JB Hi Fi

NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 June 2005
36. Notes to Statement of Cash Flows (continued)
(d) Reconciliation of Payment for businesses
During the fi nancial year, the company acquired a 70% interest in Clive Anthonys Pty Ltd and the
business of Impact Records. Details of these acquisitions are as follows:
Consolidated
Company
2005 2004 2005 2004
$’000 $’000 $’000 $’000
Businesses Acquired
Clive Anthonys Pty Ltd
Cash consideration 24,316 – 24,316 –
Fair Value of net assets acquired
Current Assets
Cash 5,014 – – –
Receivables 1,401 – – –
Inventories 10,539 – – –
Other 2,184 – – –
Non-current assets
Plant and equipment 2,920 – – –
Current liabilities
Payables (12,181) – – –
Provisions (532) – – –
Other (735) – – –
Net assets acquired pre outside equity interest 8,610 – – –
Less outside equity interest share of net assets (2,582) – – –
Net assets acquired 6,028 – – –
Brand name 18,288 – – –
24,316 – – –
Net cash outfl ow of acquisition
Cash consideration 24,316 – 24,316 –
Less cash balances acquired (5,014) – – –
19,302 – 24,316 –
Business assets and stock in trade
of Impact Records, Canberra
Cash consideration 2,358 – – –
Fair value of net assets acquired
Inventories 698 – – –
Other net assets (67) – – –
Net assets acquired 631 – – –
Goodwill on acquisition 1,727 – – –
2,358 – – –
Net cash outfl ow on acquisition
Cash consideration 2,358 – – –
Total businesses acquired 21,660 24,316 –
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