Views
9 months ago

Annual report and accounts 2016

114 Notes to the

114 Notes to the consolidated financial statements continued 2 Significant accounting policies continued Consolidated Income statement for the year to December 31, 2015 € million Previously reported Reclassification After reclassification Passenger revenue 20,350 (20) 20,330 Cargo revenue 1,024 70 1,094 Other revenue 1,484 (50) 1,434 Total revenue 22,858 – 22,858 Handling, catering and other operating costs 2,371 200 2,571 Property, IT and other costs 1,033 (200) 833 Other expenditure on operations 17,136 – 17,136 Total expenditure on operations 20,540 – 20,540 Operating profit 2,318 – 2,318 3 Business combination On August 18, 2015, the Group acquired 100 per cent of the issued ordinary share capital of Aer Lingus Group for €2.55 per share. The fair values of the assets and liabilities arising from the acquisition were presented in the financial statements for the year to December 31, 2015 on a provisional basis. During the twelve months to December 31, 2016 the valuation exercise was finalised, resulting in an increase of €58 million to the fair value of property, plant and equipment arising from the acquisition, a related €7 million deferred tax liability, and a corresponding decrease to goodwill. The comparative information is restated to reflect this adjustment. The goodwill is recognised as follows: € million Cash consideration 1,351 Fair value of identifiable net assets 1,079 Goodwill 272 4 Segment information a Business segments British Airways, Iberia, Vueling and Aer Lingus are managed as individual operating companies. Each airline operates its network operations as a single business unit. The chief operating decision maker is responsible for allocating resources and assessing performance of the operating segments, and has been identified as the IAG Management Committee. The IAG Management Committee makes resource allocation decisions based on network profitability, primarily by reference to the passenger markets in which the companies operate. The objective in making resource allocation decisions is to optimise consolidated financial results. Therefore, based on the way the Group treats its businesses, and the manner in which resource allocation decisions are made, the Group has four reportable operating segments for financial reporting purposes, reported as British Airways, Iberia, Vueling and Aer Lingus. Other Group companies include the head office companies. In 2016, the Avios business has been treated as a separate operating unit and is included in Other Group companies in the Business segment information. In 2015, Avios was allocated to the British Airways and Iberia operating segments according to the ownership percentage. The 2015 comparatives have been restated and Avios has been included in Other Group companies. For the year to December 31, 2016 2016 € million British Airways Iberia Vueling Aer Lingus Other Group companies Total Revenue External revenue 13,889 4,233 2,065 1,766 614 22,567 Inter-segment revenue 469 353 – – 452 1,274 Segment revenue 14,358 4,586 2,065 1,766 1,066 23,841 Depreciation, amortisation and impairment (950) (215) (19) (75) (28) (1,287) Operating profit before exceptional items 1,786 271 60 233 185 2,535 Exceptional items (note 5) (93) – – – 42 (51) Operating profit after exceptional items 1,693 271 60 233 227 2,484 Net non-operating costs (122) Profit before tax 2,362 INTERNATIONAL AIRLINES GROUP Annual Report and Accounts 2016

115 For the year to December 31, 2015 € million 2015 British Airways Iberia Vueling Aer Lingus Other Group companies Revenue External revenue 15,413 4,339 1,962 622 522 22,858 Inter-segment revenue 420 359 – – 469 1,248 Segment revenue 15,833 4,698 1,962 622 991 24,106 Depreciation, amortisation and impairment (1,045) (205) (13) (27) (17) (1,307) Operating profit before exceptional items 1,759 222 160 35 159 2,335 Exceptional items (note 5) (35) – – (3) 21 (17) Operating profit after exceptional items 1,724 222 160 32 180 2,318 Net non-operating costs (517) Profit before tax 1,801 b Geographical analysis Revenue by area of original sale € million 2016 2015 UK 7,877 8,256 Spain 3,632 3,462 USA 3,534 3,447 Rest of world 7,524 7,693 22,567 22,858 Assets by area December 31, 2016 Property, € million plant and equipment Intangible assets UK 9,608 1,196 Spain 1,877 1,236 USA 20 18 Rest of world 722 587 12,227 3,037 Total Strategic Report Corporate Governance Financial Statements Additional Information December 31, 2015 Property, € million plant and equipment Intangible assets UK 11,112 1,346 Spain 1,798 1,221 USA 26 14 Rest of world 794 614 13,730 3,195 www.iairgroup.com

Annual Report 2016
2011 Annual Report and Accounts - The Group
Annual Report and Accounts 2016
Annual Report and Accounts 2012 - Speedy Hire plc
2004 Full Report and Accounts - DRS
ANNUAL REPORT AND ACCOUNTS 2012 - RSA, Annual Report ...
Annual Report 2016
Annual Report and Accounts - Hemscott IR
ANNUAL REPORT & ACCOUNTS - Somero Enterprises
Annual Report and Accounts - BrainJuicer
Ophir Energy plc Annual Report and Accounts 2011
QinetiQ Annual Report 2017
2003 Full Report and Accounts - DRS
IMI plc annual report 2012
MITIE Group PLC Annual Report and Accounts 2008
BAE-annual-report-2014
Annual Report 2011/2012 - Colombo Stock Exchange
2008/09 Annual Report and Accounts (1.8Mb pdf) - BA.com
St. JameS'S Place Plc annual RePoRt and accountS 2012
Annual Report Accounts 2012 - Tribal
Annual report and accounts - Cattles Limited
CRC Annual Report 2017
united-utilities-annual-report-2015
Annual Report for the year ended 31 December 2006
Annual Report & Accounts 2004 - Harvey Nash
Annual review and accounts 2007 - Serco
Victoria Airport Authority Annual Report 2012
Jersey Post Annual Report and Accounts | 2012 - States Assembly
Annual report and financial statement 2009 - United Utilities
2006 Annual Report and Accounts - Nominet