30. Business combinations
There were no significant acquisitions in 2017 or 2016.
Fair values for the assets and liabilities arising from acquisitions completed in the year are as follows:
2017 | 2016 | |||||||||||
All figures in £ millions |
Notes | Total fair value |
Total fair value |
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Intangible assets |
11 | — | 10 | |||||||||
Net assets acquired at fair value |
— | 10 | ||||||||||
Goodwill |
11 | — | 3 | |||||||||
Total |
— | 13 | ||||||||||
Satisfied by: |
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Cash |
— | (7 | ) | |||||||||
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Other liabilities |
— | (6 | ) | |||||||||
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Total consideration |
— | (13 | ) | |||||||||
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Goodwill of £3m arising on 2016 acquisitions is expected to be deductible for tax purposes.
Intangible assets acquired in 2016 have the following useful economic lives: trademarks and brands 15 years, and other acquired intangibles six years.
All figures in £ millions |
2017 | 2016 | 2015 | |||||||||
Cash flow on acquisitions |
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Cash – current year acquisitions |
— | (7 | ) | (1 | ) | |||||||
Deferred payments for prior year acquisitions and other items |
(11 | ) | (7 | ) | (6 | ) | ||||||
Acquisition costs and other acquisition liabilities paid |
— | (1 | ) | (2 | ) | |||||||
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Net cash outflow |
(11 | ) | (15 | ) | (9 | ) | ||||||
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