Weir Group 2013 Interim Report (PDF, 0.59 MB) - The Weir Group

The following tables summarise the cashflows arising on acquisitions:52 weeks ended28 Dec 2012Restated (note 1)£mAcquisitions of subsidiaries26 weeks ended28 June 2013£m26 weeks ended29 June 2012Restated (note 1)£m(114.9) Current period acquisitions (199.0) (114.7)(8.4) Previous periods acquisitions deferred consideration paid – (3.9)(123.3) (199.0) (118.6)(1.9) Settlement of external debt of subsidiary on acquisition (1.3) (1.9)(114.9) Acquisition of subsidiaries – current year acquisitions (199.0) (114.7)(116.8) Total cash outflow on acquisition of subsidiaries – current year (200.3) (116.6)(8.4) Previous periods acquisitions deferred consideration paid – (3.9)(125.2) Total cash outflow relating to acquisitions (200.3) (120.5)Disposals of subsidiaries24.7 Previous periods disposals – proceeds (0.2) (0.4)(1.8) Previous periods disposals – cash disposed of – –Cash & cash equivalents comprise the following391.1 Cash & short-term deposits 78.5 120.8(6.9) Bank overdrafts & short-term borrowings (11.0) (4.9)384.2 67.5 115.9Reconciliation of net (decrease) increase in cash & cash equivalentsto movement in net debt284.4 Net (decrease) increase in cash & cash equivalents from continuing operations (317.8) 11.3(322.6) Net decrease (increase) in debt 112.6 (170.1)(38.2) Change in net debt resulting from cash flows (205.2) (158.8)(0.1) Lease inceptions – –(2.3) Loans acquired (1.5) (2.3)24.9 Foreign currency translation differences & amortisation of issue costs (54.4) (9.7)(15.7) Change in net debt during the period (261.1) (170.8)(673.2) Net debt at the beginning of the period (688.9) (673.2)(688.9) Net debt at the end of the period (950.0) (844.0)Net debt comprises the following391.1 Cash & short-term deposits 78.5 120.8(65.4) Current interest-bearing loans & borrowings (115.0) (67.2)(1,014.6) Non-current interest-bearing loans & borrowings (913.5) (897.6)(688.9) (950.0) (844.0)33