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88 SABMiller plc Annual Report 2012Consolidated balance sheetat 31 MarchAssetsNon-current assetsGoodwill 10 20,128 11,954Intangible assets 11 9,901 4,364Property, plant and equipment 12 9,299 9,331Investments in joint ventures 13 5,520 5,813Investments in associates 14 4,946 2,719Available for sale investments 15 30 35Derivative financial instruments 24 732 330Trade and other receivables 17 136 140Deferred tax assets 21 117 184Loan participation deposit 18 100 –50,909 34,870Notes2012US$m2011 1US$mCurrent assetsInventories 16 1,255 1,256Trade and other receivables 17 2,156 1,687Current tax assets 482 152Derivative financial instruments 24 24 16Available for sale investments 15 1 –Cash and cash equivalents 18 745 1,0674,663 4,178Assets of disposal group classified as held for sale 19a 79 664,742 4,244Total assets 55,651 39,114LiabilitiesCurrent liabilitiesDerivative financial instruments 24 (40) (50)Borrowings 22 (1,062) (1,345)Trade and other payables 20 (4,054) (3,487)Current tax liabilities (910) (658)Provisions 25 (717) (412)(6,783) (5,952)Liabilities of disposal group classified as held for sale 19b (7) (66)(6,790) (6,018)Non-current liabilitiesDerivative financial instruments 24 (69) (85)Borrowings 22 (18,164) (7,115)Trade and other payables 20 (112) (98)Deferred tax liabilities 21 (3,917) (2,578)Provisions 25 (586) (461)(22,848) (10,337)Total liabilities (29,638) (16,355)Net assets 26,013 22,759EquityShare capital 26 166 166Share premium 6,480 6,384Merger relief reserve 4,586 4,586Other reserves 27b 1,978 1,881Retained earnings 27a 11,863 8,991Total shareholders’ equity 25,073 22,008Non-controlling interests 940 751Total equity 26,013 22,7591 As restated (see note 29).The balance sheet of SABMiller plc is shown on page 167.The notes on pages 91 to 164 are an integral part of these consolidated financial statements.The financial statements were authorised for issue by the board of directors on 11 June 2012 and were signed on its behalf by:Graham MackayChief ExecutiveJamie WilsonChief Financial Officer
SABMiller plc Annual Report 2012 89Consolidated cash flow statementfor the year ended 31 MarchCash flows from operating activitiesCash generated from operations 28a 5,237 4,568Interest received 516 293Interest paid (923) (933)Tax paid (893) (885)Net cash generated from operating activities 28b 3,937 3,043Cash flows from investing activitiesPurchase of property, plant and equipment (1,473) (1,189)Proceeds from sale of property, plant and equipment 116 73Purchase of intangible assets (166) (126)Purchase of available for sale investments (1) (3)Proceeds from disposal of available for sale investments 2 –Proceeds from disposal of associates 205 –Proceeds from disposal of businesses (net of cash disposed) (23) –Acquisition of businesses (net of cash acquired) (10,951) (60)Investments in joint ventures (288) (186)Investments in associates (52) (5)Repayment of investments by associates 14 68Dividends received from joint ventures 13 896 822Dividends received from associates 120 88Dividends received from other investments 1 1Net cash used in investing activities (11,600) (517)Cash flows from financing activitiesProceeds from the issue of shares 96 73Proceeds from the issue of shares in subsidiaries to non-controlling interests 107 34Purchase of own shares for share trusts (52) –Purchase of shares from non-controlling interests (27) (12)Proceeds from borrowings 19,000 1,608Repayment of borrowings (10,139) (2,767)Capital element of finance lease payments (5) (5)Net cash payments on derivative financial instruments (52) (43)Dividends paid to shareholders of the parent (1,324) (1,113)Dividends paid to non-controlling interests (109) (102)Net cash generated from/(used in) financing activities 7,495 (2,327)Net cash (outflow)/inflow from operating, investing and financing activities (168) 199Effects of exchange rate changes (39) 25Net (decrease)/increase in cash and cash equivalents (207) 224Cash and cash equivalents at 1 April 28c 813 589Cash and cash equivalents at 31 March 28c 606 813The notes on pages 91 to 164 are an integral part of these consolidated financial statements.Notes2012US$m2011US$mOverview Business review Governance Financial statements Shareholder information
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Registered officeSABMiller HouseChu
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