CONSOLIDATED
2015
2014
$m
$m
INCREASE/(DECREASE) IN OPERATING LIABILITIES
Trade and other payables
1,057
42
Provisions
(17)
(33)
Current tax liabilities
(94)
(32)
Outstanding claims liability
672
207
Unearned premium liability
(107)
124
Net cash flows from operating activities
698
1,077
D. SIGNIFICANT NON-CASH TRANSACTIONS RELATING TO FINANCING AND INVESTING TRANSACTIONS
There were no financing or investing transactions during the year which have had a material effect on the assets and liabilities that did
not involve cash flows.
NOTE 23. ACQUISITIONS AND DISPOSALS OF BUSINESSES
A. ACQUISITION OF SUBSIDIARIES
I. For the financial year ended 30 June 2015
During the current financial year, the Group acquired the Dynamiq Group, PT Asuransi Parolamas and the Ambiata Group for a total
consideration of $28 million.
II. For the financial year ended 30 June 2014
a. WESFARMERS ACQUISITION
During the financial year ended June 2015, the acquisition accounting was finalised in respect of the acquisition of the former
Wesfarmers business. The provisional fair values on consolidation disclosed at 30 June 2014 have been revised to reflect new
information about conditions that existed at the date of acquisition. The consolidated balance sheet and associated notes as at 30
June 2014 have been restated to reflect these adjustments, with no overall impact to the Group's net assets.
The provisional and final fair values are disclosed below:
WESFARMERS ACQUISITION
FINAL
PROVISONAL
$m
$m
Purchase price
Total purchase consideration
1,986
1,980
Fair value of identifiable assets and liabilities acquired and goodwill recognised by acquiree
Cash and cash equivalents
1,558
1,558
Investments
218
218
Trade and other receivables
536
536
Reinsurance and other recoveries on outstanding claims
308
291
Deferred tax assets
60
40
Trade and other payables
(144)
(134)
Deferred tax liabilities
(108)
(108)
Unearned premium liability
(976)
(976)
Outstanding claims liability
(1,320)
(1,251)
Other assets and liabilities
283
294
Net identifiable assets acquired during the financial year
415
468
Intangible assets recognised upon acquisition
Brands
77
77
Customer relationships
104
104
Distribution channels
140
140
Software development expenditure
57
57
Goodwill
1,193
1,134
1,571
1,512
B. OTHER ACQUISITIONS
I. For the financial year ended 30 June 2015
There were no other material acquisitions by the Consolidated entity.
C. DISPOSAL OF SUBSIDIARIES
I. For the financial year ended 30 June 2015
There were no material disposals of subsidiaries by the Consolidated entity.
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