Pearson plc homepageinvestor relations
     

: notes to the accounts :

   
 

26. Disposals

all figures in £ millions 1999 1998
 
total
total
Disposal analysis of subsidiaries and businesses    
Intangible assets
(1)
––
Tangible fixed assets
(14)
(203)
Investments
––
(5)
Associates
––
(6)
Stocks
(4)
(16)
Debtors
(20)
(66)
Creditors and taxation
22
84
Provisions
5
(8)
Deferred taxation
1
13
Equity minority interest
––
(30)
Net cash
(3)
(11)



Net assets disposed of
(14)
(248)



Proceeds received
57
762
Deferred consideration
––
2
Costs
(19)
(42)
Net prior year adjustments
(5)
––



Profit on sale
19
474



Goodwill written back
(63)
(245)



Net (loss)/profit on sale
(44)
229



Note : During the year the Group sold its Extel research products business for £19m giving rise to a loss of £19m.

     
all figures in £ millions 1999 1998
     
Total goodwill written back on disposal    
On disposal of subsidiaries
63
245
On disposal of associates
––
16
On disposal by associates
––
1



 
63
262



     
all figures in £ millions
1999
1998
     
Cash flow from disposals    
Cash – current year disposals (see page 88)
57
762
Costs paid
(9)
(38)
Deferred receipts and payments from prior year disposals and other amounts
(4)
(6)



Net cash inflow
44
718



Note : Contributions to the cash flow from disposals in 1999 are as follows: net cash inflow from operating activities £4m.

 

1999 Annual Report
* Introduction
* Chairman's letter
* Chief executive's review
* The Pearson Goals
* Internet Goals
* The Results
* Financial Review
* Financial Policy
* Directors' Report
* Personnel Committee Report
* Pearson Education
* Penguin Group
* Financial Times Group
* Pearson Televison
* Recolétos
* Lazard
* Consolidated profit and loss account
* Consolidated balance sheet
* Consolidated statement of cash flows
* Statement of total recognised gains and losses
* Note of historical cost profits and losses
* Reconciliation of movements in equity shareholders' funds
* Report to the Auditors to the Members of Pearson plc
* Principal subsidiaries and associates
* Five year summary
* Shareholder information
* Notes to the accounts
 

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