2009 Annual Report - CRH

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2. Financial Assets The Company’s investment in its subsidiaries is as follows: 118 CRH 2009 Shares (i) Other Total €m €m €m At 1st January 2009 at cost/valuation 377 83 460 Capital contribution in respect of share-based payments - 34 34 Impairment (3) - (3) At 31st December 2009 at cost/valuation 374 117 491 The equivalent disclosure for the prior year is as follows: 2008 Shares (i) Other Total €m €m €m At 1st January 2008 at cost/valuation 251 60 311 Additions 126 - 126 Capital contribution in respect of share-based payments - 23 23 At 31st December 2008 at cost/valuation 377 83 460 (i) The Company’s investment in shares in its subsidiaries was revalued at 31st December 1980 to reflect the surplus on revaluation of certain property, plant and equipment (land and buildings) of subsidiaries. The original historical cost of the shares equated to approximately €9 million. The analysis of the closing balance between amounts carried at valuation and at cost is as follows: 2009 2008 €m €m At valuation 31st December 1980 47 47 At cost post 31st December 1980 327 330 Total 374 377 3. Debtors 2009 2008 €m €m Amounts owed by subsidiary undertakings 7,922 5,683 4. Trade and Other Creditors 2009 2008 €m €m Amounts falling due within one year Amounts owed to subsidiary undertakings 2,814 1,636 5. Dividends Proposed (Memorandum Disclosure) Details in respect of dividends proposed of €307 million (2008: €258 million) are presented in the dividends note (note 11) on page 83 of the notes to the Consolidated Financial Statements. 6. Called-up Share Capital Details in respect of called-up share capital, Treasury Shares and own shares are presented in the share capital and reserves note (note 30) on pages 109 to 111 of the notes to the Consolidated Financial Statements.
7. Movement in Shareholders’ Funds Issued share capital Share premium account Treasury Shares/ own shares 2009 Revaluation reserve Other reserves Profit and loss account €m €m €m €m €m €m At 1st January 2009 187 2,452 (378) 42 827 1,523 Currency translation effects - - - - - 1 Issue of share capital (net of expenses) 55 1,330 - - - - Transfer to profit and loss account - - - - (750) 750 Profit after tax before dividends - - - - - 10 Treasury/own shares re-issued - - 114 - - (114) Shares acquired by Employee Benefit Trust (own shares) - - (2) - - - Share option exercises - - - - - 60 Share-based payment expense - - - - 28 - Reclassification of Performance Share Plan expense - - (13) - 13 - Dividends (including shares issued in lieu of dividends) - - - - - (386) At 31st December 2009 242 3,782 (279) 42 118 1,844 Issued share capital Share premium account Treasury Shares/ own shares 2008 Revaluation reserve Other reserves Profit and loss account €m €m €m €m €m €m At 1st January 2008 187 2,424 (19) 42 60 812 Currency translation effects - - - - - 4 Issue of share capital (net of expenses) - 28 - - - - Profit after tax before dividends - - - - 750 1,093 Shares acquired by CRH plc (Treasury Shares) - - (411) - - - Treasury/own shares re-issued - - 48 - - (48) Shares acquired by Employee Benefit Trust (own shares) - - (3) - - - Share option exercises - - - - - 31 Share-based payment expense - - 7 - 17 - Dividends (including shares issued in lieu of dividends) - - - - - (369) At 31st December 2008 187 2,452 (378) 42 827 1,523 In accordance with section 148(8) of the Companies Act, 1963 and section 7(1A) of the Companies (Amendment) Act, 1986, the Company is availing of the exemption from presenting its individual profit and loss account to the Annual General Meeting and from filing it with the Registrar of Companies. The loss retained for the financial year dealt with in the Company Financial Statements amounted to €376 million (2008: profit retained of €1,474 million). 8. Share-based Payments The total expense of €28 million (2008: €24 million) reflected in note 7 to the Consolidated Financial Statements attributable to employee share options and the Performance Share Plan has been included as a capital contribution in financial assets (note 2) in addition to any payments to/from subsidiaries. 9. Section 17 Guarantees Pursuant to the provisions of Section 17, Companies (Amendment) Act, 1986, the Company has guaranteed the liabilities of its wholly-owned subsidiary undertakings and the Oldcastle Finance Company and Oldcastle North America Funding Company general partnerships in the Republic of Ireland for the financial year ended 31st December 2009 and, as a result, such subsidiary undertakings and the general partnerships have been exempted from the filing provisions of Section 7, Companies (Amendment) Act, 1986 and Regulation 20 of the European Communities (Accounts Regulations), 1993 respectively. The Company has not guaranteed any debt or other obligations of joint ventures or associates. Details in relation to other guarantees provided by the Company are provided in the interest-bearing loans and borrowings note (note 23) on pages 95 and 96 of the notes to the Consolidated Financial Statements. 10. Related Party Transactions The Company has taken advantage of the exemption in FRS 8 not to disclose transactions with wholly-owned subsidiaries. 11. Approval by Board The Board of Directors approved and authorised for issue the Company Financial Statements on pages 116 to 119 in respect of the year ended 31st December 2009 on 1st March 2010. CRH 119
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Annual Report 2009 PERFORMANCE AND
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Contents inside cover CRH at a Glan
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Key Financial Figures 2009 €m 2,8
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Americas Materials - 37% of Group T
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CRH is an international group with
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. . Emerging Regions - Strategy in
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. . . . . . Diverse Portfolio - Str
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CRH is committed to ethically and r
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as well as adding to our presence i
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Chief Executive’s Review Overview
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Responding to the evolving market e
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Group Operations The global economi
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Europe Materials Europe Materials e
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operating adjustments were implemen
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Europe Products & Distribution Thro
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Building Envelope Products These op
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Mark Towe Chief Executive Officer T
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asphalt plants and paving operation
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Mark Towe Chief Executive Officer T
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Glass The Glass group is the market
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offset by the decline in the averag
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which mature after more than one ye
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W.I. O’Mahony* BE, BL, MBA, FIEI
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issues confronting the Group; that
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# assists management, at their requ
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accounting period and up to the dat
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# CRH’s business may be affected
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Report on Directors’ Remuneration
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Directors’ Remuneration Notes Exe
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Pension entitlements - defined bene
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Directors’ interests The Company
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Directors’ Interests in Share Cap
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Independent Auditors’ Report to t
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Consolidated Balance Sheet as at 31
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Consolidated Statement of Cash Flow
Page 71 and 72: the Group and one or more other ven
Page 73 and 74: indicate that the carrying values m
Page 75 and 76: floating rates (using interest rate
Page 77 and 78: 1. Segment Information continued A.
Page 79 and 80: 2. Proportionate Consolidation of J
Page 81 and 82: 5. Directors’ Emoluments and Inte
Page 83 and 84: 7. Share-based Payment Expense cont
Page 85 and 86: 8. Finance Costs and Finance Revenu
Page 87 and 88: 10. Income Tax Expense continued Fa
Page 89 and 90: 13. Property, Plant and Equipment L
Page 91 and 92: 14. Intangible Assets continued Goo
Page 93 and 94: 17. Inventories 2009 2008 €m €m
Page 95 and 96: 21. Capital and Financial Risk Mana
Page 97 and 98: 21. Capital and Financial Risk Mana
Page 99 and 100: 23. Interest-bearing Loans and Borr
Page 101 and 102: 24. Derivative Financial Instrument
Page 103 and 104: 25. Analysis of Net Debt Components
Page 105 and 106: 25. Analysis of Net Debt continued
Page 107 and 108: 27. Deferred Income Tax The deducti
Page 109 and 110: 28. Retirement Benefit Obligations
Page 111 and 112: 28. Retirement Benefit Obligations
Page 113 and 114: 29. Capital Grants 2009 2008 €m
Page 115 and 116: 30. Share Capital and Reserves cont
Page 117 and 118: 32. Acquisition of Subsidiaries and
Page 119 and 120: 33. Related Party Transactions The
Page 121: Notes to the Company Balance Sheet
Page 125 and 126: CREST Transfer of the Company’s s
Page 127 and 128: John Parson President & Chief Opera
Page 129 and 130: Incorporated and operating in % hel
Page 131 and 132: Incorporated and operating in % hel
Page 133 and 134: Principal Joint Venture Undertaking
Page 135 and 136: Group Financial Summary (Figures pr
Page 137 and 138: G Geographic leadership positions 2
Page 139 and 140: Notes
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2009 Annual Report - CRH

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