112
IMI plc
SECTION 4 – CAPITAL STRUCTURE AND FINANCING COSTS
c) Analysis of net debt
Borrowings and
finance leases due
Cash and cash
within after more
Total
equivalents
one year than one year
net debt
£m
£m
£m
£m
At 1 January 2014
90.3
(80.8)
(208.9)
(199.4)
Net cash and cash equivalents disposed of
(29.0)
(29.0)
Cash flow excluding settlement of currency derivatives hedging balance sheet and net cash disposed of
(76.6)
78.7
2.0
4.1
Settlement of currency derivatives hedging balance sheet
36.7
36.7
Currency translation differences
(0.6)
0.1
(11.9)
(12.4)
At 31 December 2014
20.8
(2.0)
(218.8)
(200.0)
4.2 Interest-bearing loans and borrowings
The Group borrows money from financial institutions in the form of bonds and other financial instruments. These generally have fixed interest rates and are for
a fixed term or are drawn from committed borrowing facilities that generally have floating interest rates.
This section provides information about the terms of the Group’s interest-bearing loans and borrowings. For more information about the Group’s exposure to
interest rate and foreign currency risk, see section 4.4.3.
2014
2013
£m
£m
Current liabilities
Unsecured loan notes and other loans
1.3
80.0
Current portion of finance lease liabilities
0.7
0.8
2.0
80.8
Non-current liabilities
Unsecured loan notes and other loans
218.2
208.1
Finance lease liabilities
0.6
0.8
218.8
208.9
The reduction in unsecured notes and other loans is primarily due to the settlement of £79.0m of loans in the year.
Continued
