Annual Report 1999 in PDF - Aer Lingus

AER LINGUS GROUP PLCNotes to the Consolidated Accounts (continued)19. Consolidated Cash Flow Statement (continued)C. Analysis of Changes in Net Funds (Debt)Net Funds Cash Exchange Other Net Funds(Debt) Flow Movement Non-Cash (Debt)01 Jan 99 Changes 31 Dec 99e000 e000 e000 e000 e000CashCash in hand, at bank 11,925 5,743 296 - 17,964Overdrafts (22,487) 2,951 (866) - (20,402)(10,562) 8,694 (570) - (2,438)FinanceDebt due within one year (495) (1,954) - - (2,449)Debt due after one year (65,121) 1,823 (3,741) 779 (66,260)Finance leases (256,326) (225,227) (28,256) - (509,809)Restricted deposits 173,659 237,064 21,128 - 431,851(148,283) 11,706 (10,869) 779 (146,667)Liquid ResourcesOther cash deposits and liquid resources 247,500 59,477 4,363 - 311,340Total 88,655 79,877 (7,076) 779 162,23520. Employee Share Participation SchemeAn Employee Share Participation Scheme (the "Scheme") was established by a Trust Deed executed on 13 March, 1996.The Scheme provides that employees satisfying certain service criteria are entitled to share equally in a maximum of 10%of the Group’s profit before tax and exceptional items, subject to the following:• half the profit share must be taken in the form of shares in Aer Lingus Group plc, while the remainder may betaken in either cash or further shares• when 5% of the issued share capital of Aer Lingus Group plc as at 31 December, 1995 has been issued under theScheme (12,180,503 shares), no more shares may be issued to employees and the profit share thereafter cannotexceed 5% of the Group’s profit before tax and exceptional items• when e15.5 million (IR£12.2 million) has been paid out in respect of the cash element of the profit share,entitlement to participate in any further cash payment of the profit share will cease.The maximum permitted number of shares in Aer Lingus Group plc (12,180,503 shares) has been issued to the Trusteesof the Scheme for appropriation to employees and accordingly no further shares may be issued.The employees’ share of the Group’s profits for 1999 amounts to e3.67 million, which represents 5% of the Group’sprofit before tax and exceptional items of e73.4 million. This is arrived at by adjusting the Group’s profit on ordinaryactivities before taxation of e59.5 million for net exceptional costs of e11.3 million (Note 3) and the net charge of e2.56million for the employees’ share of profits. The net charge of e2.56 million comprises the 1999 profit share of e3.67million, less an over provision of e1.11 million made in 1998.42