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Notes to the Consolidated Financial Statements (continued) 24. Non-controlling interest 2012 $’000 Consolidated 2011 $’000 Interest in: Share capital 1,205 1,205 Retained profit 2,577 1,806 Balance 30 June 3,782 3,012 25. Statement of cash flows reconciliation 2012 $’000 Consolidated 2011 $’000 Profit for the year after tax 53,552 33,153 Non operating activity cash flow in profit - Profit on sale of assets - (148) - Loss on sale of assets 179 - Non cash flow in profit - Depreciation 18,744 12,951 - Amortisation 7,722 6,517 - Impairment of intangibles 9,711 19,854 Changes in operating assets and liabilities Increase in trade debtors (71,298) (8,576) Decrease in inventories (net of finance company loans) 5,978 16,237 Decrease / (increase) in prepayments 3,851 (5,319) Increase in deferred tax assets (5,759) (855) Increase / (decrease) in current tax payable 4,117 (5,944) Increase / (decrease) in trade creditors 23,224 (7,005) Increase in accruals 31,122 12,105 Increase in employee entitlements 3,506 2,530 Increase / (decrease) in other provisions 1,251 (1,932) Increase in deferred tax liabilities 955 79 Net cash inflow from operating activities 86,855 73,645 104 Automotive Holdings Group
2012 Annual Report For the year ended June 2012 26. Interest in a jointly controlled operation A Group subsidiary has entered into a jointly controlled operation called Vehicle Parts (WA) Pty Ltd for the distribution of Subaru Parts. The Company has a 50% (2011: 50%) participating interest in this jointly controlled operation and is entitled to 50% of its profit. The Company’s interest in the assets employed and liabilities assumed in the jointly controlled operation are included in the consolidated statement of financial position, in accordance with the accounting policy described in note 1(c) and are set out below: 2012 $’000 Consolidated 2011 $’000 Share of assets employed in joint venture: Cash and cash equivalents 222 311 Trade and other receivables 508 475 Inventories 870 734 Deferred tax assets 13 13 1,613 1,534 Share of liabilities assumed in joint venture: Trade and other payables 308 359 Income tax payable 23 61 Deferred tax liabilities - - 332 420 Share of joint venture revenue, expenses and results: Revenue 5,288 5,894 Expenses (4,798) (5,270) Profit before income tax 491 624 There are no capital expenditure commitments associated with this operation. Automotive Holdings Group 105
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