2009 Annual Report - CRH

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22. Liquid Investments and Cash and Cash Equivalents Liquid investments and cash and cash equivalents balances are spread across a wide number of highly-rated financial institutions with no material concentrations in credit or liquidity risk. Liquid investments Liquid investments comprise short-term deposits and current asset investments which are held as readily disposable stores of value and include investments in government gilts and commercial paper and deposits of less than one year in duration. The maturity of these investments falls outside the three months timeframe for classification as cash and cash equivalents under IAS 7 Cash Flow Statements, and accordingly, the related balances have been separately reported in the Consolidated Balance Sheet and have been categorised as either “held-for-trading” or “loans and receivables” in accordance with IAS 39 Financial Instruments: Recognition and Measurement in the table below. The credit risk attaching to these items is documented in note 21. 94 CRH 2009 2008 €m €m Held-for-trading (fair value through profit or loss) 62 127 Loans and receivables 4 1 Total 66 128 Cash and cash equivalents In accordance with IAS 7, cash and cash equivalents comprise cash balances held for the purposes of meeting short-term cash commitments and investments which are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Where investments are categorised as cash equivalents, the related balances have a maturity of three months or less from the date of investment. Bank overdrafts are included within current interest-bearing loans and borrowings in the Consolidated Balance Sheet. Cash and cash equivalents are reported at fair value and are analysed as follows: 2009 2008 €m €m Cash at bank and in hand 406 483 Investments (short-term deposits) 966 316 Included in Consolidated Balance Sheet and Consolidated Statement of Cash Flows 1,372 799 Cash at bank earns interest at floating rates based on daily deposit bank rates. Short-term deposits are made for varying periods of between one day and three months depending on the immediate cash requirements of the Group, and earn interest at the respective short-term deposit rates.
23. Interest-bearing Loans and Borrowings 2009 2008 €m €m Bank loans and overdrafts: - unsecured 169 2,250 - secured * Other term loans: 35 28 - unsecured 4,881 4,754 - secured * Group share of joint ventures' interest-bearing loans and borrowings (non-current and current): 16 22 - unsecured 198 215 - secured * 25 29 Interest-bearing loans and borrowings (non-current and current) 5,324 7,298 Included in current liabilities in the Consolidated Balance Sheet: - loans repayable within one year (268) (872) - bank overdrafts (113) (149) Current interest-bearing loans and borrowings (381) (1,021) Non-current interest-bearing loans and borrowings 4,943 6,277 * Secured on specific items of property, plant and equipment; these figures include finance leases Repayment schedule Within one year 381 1,021 Between one and two years 570 1,309 Between two and three years 857 811 Between three and four years 547 1,148 Between four and five years 924 631 After five years 2,045 2,378 5,324 7,298 Categorisation by manner of repayment Loans fully repayable within five years: - not by instalments 3,135 4,747 - by instalments 124 145 Subtotal Loans fully repayable in more than five years: 3,259 4,892 - not by instalments 2,037 2,364 - by instalments ** 28 42 Subtotal 2,065 2,406 Interest-bearing loans and borrowings (non-current and current) 5,324 7,298 ** €8 million (2008: €14 million) falls due for repayment after five years CRH 95
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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
Page 47 and 48: issues confronting the Group; that
Page 49 and 50: # assists management, at their requ
Page 51 and 52: accounting period and up to the dat
Page 53 and 54: # CRH’s business may be affected
Page 55 and 56: Report on Directors’ Remuneration
Page 57 and 58: Directors’ Remuneration Notes Exe
Page 59 and 60: Pension entitlements - defined bene
Page 61 and 62: Directors’ interests The Company
Page 63 and 64: Directors’ Interests in Share Cap
Page 65 and 66: Independent Auditors’ Report to t
Page 67 and 68: Consolidated Balance Sheet as at 31
Page 69 and 70: 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: 21. Capital and Financial Risk Mana
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 and 122: Notes to the Company Balance Sheet
Page 123 and 124: 7. Movement in Shareholders’ Fund
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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