2012 Annual Report - Domino's Pizza

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NOTES TO THE FINANCIAL STATEMENTS CONTINUED Acquisition of stores NET ASSETS ACQUIRED FAIR VALUE ON ACQUISITION Current assets: Cash and cash equivalents 12 44 Inventories 88 74 Other current assets - 7 100 125 Non-current assets Plant & equipment 3,228 3,141 Other intangible assets - 483 3,228 3,624 2012 $’000 2011 $’000 Current liabilities: Trade and other payables - (916) Other current liabilities - (142) - (1,058) Non-current liabilities: Borrowings - (349) - (349) Net assets 3,328 2,342 Goodwill on acquisition 8,648 5,149 11,976 7,491 Goodwill arose in the business combination as the consideration paid included a premium. In addition, the consideration paid for the stores effectively included amounts in relation to benefits from expected synergies, revenue growth and future market development. These benefits are not recognised separately from goodwill as the future economic benefits arising from them cannot be reliably measured. 37. CASH AND CASH EQUIVALENTS For the purpose of the statement of cash flows, cash and cash equivalents includes cash on hand and in banks net of outstanding bank overdrafts. Cash and cash equivalents at the end of the reporting period as shown in the statement of cash flows can be reconciled to the related items in the statement of financial position as follows: 2012 $’000 2011 $’000 Cash and cash equivalents 40,340 28,085 40,340 28,085 82 ANNUAL REPORT 2012 DOMINO’S PIZZA ENTERPRISES LIMITED
37.1 Reconciliation of profit for the period to net cash flows from operating activities 2012 $’000 2011 $’000 Profit for the year 26,936 21,435 (Gain) on sale or disposal of non-current assets (2,223) (1,160) Equity settled share-based payments 320 222 Depreciation and amortisation 10,029 8,698 Other 562 (92) 35,624 29,103 Movement in working capital: (Increase)/decrease in assets: Trade and other receivables (3,345) 1,098 Inventories (1,772) (774) Other current assets 409 (89) Increase/(decrease) in liabilities: Trade and other payables 4,521 4,843 Provisions 355 (69) Increase in tax liability 477 146 Increase in deferred tax balances 1,409 1,779 Net cash generated from operating activities 37,678 36,037 37.2 Businesses acquired Acquisition of stores During the financial year, 39 businesses were acquired in Australia, New Zealand and Europe (2011: 32 businesses). For details of other acquisitions made, see note 36 to the financial statements. The net cash outflow on acquisition in the financial statements was $11,876 thousand (2011: $7,447 thousand). 37.3 Non-cash financing and investing activities During the current financial year, the Consolidated entity did not acquire any equipment under finance lease (2011: $144 thousand). 38. OPERATING LEASE ARRANGEMENTS 38.1 Leasing arrangements Operating leases relate to both property leases with lease terms of between five and ten years, the majority of which have an option to renew for a further five-year period, and motor vehicles with lease terms of three years. All store related operating lease contracts contain market review clauses in the event that the Consolidated entity exercises its options to renew. The Consolidated entity does not have an option to purchase the leased asset at the expiry of the lease period. 38.1.1 Non-cancellable operating lease commitments Not longer than 1 year 16,356 13,269 Longer than 1 year and not longer than 5 years 35,815 28,978 Longer than 5 years 6,414 5,523 58,585 42,517 In respect of non-cancellable operating leases the following liabilities have been recognised: Current Make good (note 25) 25 25 Non-current Straight line leasing (note 25) 177 171 202 196 ANNUAL REPORT 2012 DOMINO’S PIZZA ENTERPRISES LIMITED 83 2012 $’000 2012 $’000 2011 $’000 2011 $’000
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Theatre Of Food ANNUAL REPORT 2012
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RECORD GROWTH IN EUROPE - TOTAL NET
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CHAIRMAN’S message Embracing tech
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Financial PERFORMANCE Investing in
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Digital Australia and New Zealand O
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New stores new designs Australia an
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The Future We remain focused and de
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Healthier CHOICES A rally to health
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Healthier ingredients Domino’s pr
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Theatre Of Food For THE LOve of FOO
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Connecting Through technology Techn
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FRANCE AND BELGIUM To interact with
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Domino’s Pizza Enterprises Ltd 8t
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KEY FINANCIAL INDICATORS 2006 2007
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CORPORATE GOVERNANCE STATEMENT CONT
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DIRECTORS’ REPORT The directors o
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DIRECTORS’ REPORT CONTINUED Share
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DIRECTORS’ REPORT CONTINUED REMUN
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DIRECTORS’ REPORT CONTINUED REMUN
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DIRECTORS’ REPORT CONTINUED BONUS
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DIRECTORS’ REPORT CONTINUED The f
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AUDITOR’S INDEPENDENCE DECLARATIO
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INDEPENDENT AUDITOR’S REPORT CONT
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INDEX TO THE FINANCIAL REPORT CONTE
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CONSOLIDATED STATEMENT OF FINANCIAL
Page 57 and 58: CONSOLIDATED STATEMENT OF CASH FLOW
Page 59 and 60: 2.2 Standards and Interpretations a
Page 61 and 62: 3. SIGNIFICANT ACCOUNTING POLICIES
Page 63 and 64: 3.8.5 Dividend and interest revenue
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Page 67 and 68: 3.20 Impairment of tangible and int
Page 69 and 70: 4. CRITICAL ACCOUNTING JUDGEMENTS A
Page 71 and 72: 6.3 Segment assets and liabilities
Page 73 and 74: 10. INCOME TAXES 10.1 Income tax re
Page 75 and 76: 10.4 Deferred tax balances 2012 OPE
Page 77 and 78: 11. PROFIT FOR THE YEAR FROM CONTIN
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Page 81 and 82: Ageing of loans to franchisees Amou
Page 83 and 84: 18. PROPERTY, PLANT AND EQUIPMENT 2
Page 85 and 86: Key assumptions The key assumptions
Page 87 and 88: 22. TRADE AND OTHER PAYABLES Trade
Page 89 and 90: 26. OTHER LIABILITIES 2012 $’000
Page 91 and 92: 29. RESERVES Foreign currency trans
Page 93 and 94: 32.1.1 Gearing ratio Debt (i) 14,04
Page 95 and 96: The following table details the val
Page 97 and 98: 32.9 Liquidity risk management The
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Page 101 and 102: 34. KEY MANAGEMENT PERSONNEL COMPEN
Page 103 and 104: The compensation of each member of
Page 105 and 106: Executive share options of Domino
Page 107: 36. ACQUISITION OF BUSINESSES NAME
Page 111 and 112: 43. PARENT ENTITY INFORMATION 43.1
Page 113 and 114: TWENTY LARGEST HOLDERS OF QUOTED EQ
Page 115 and 116: CORPORATE DIRECTORY DIRECTORS Ross
Page 117 and 118: ANNUAL REPORT 2012 DOMINO’S PIZZA
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2012 Annual Report - Domino's Pizza

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