2012 Annual Report - Domino's Pizza

37.1 Reconciliation of profit for the period to net cash flows from operating activities
2012
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2011
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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
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2012
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2011
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2011
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