Vesuvius plc Prospectus

Balance sheet
Notes HY 2011 HY 2012
(unaudited)
(£m)
Assets
Property, plant and equipment ............................................. 340.9 304.5
Intangible assets ........................................................ 831.0 789.4
Employee benefits – net surpluses .......................................... 14 20.6 46.2
Interests in joint ventures ................................................. 13.1 13.7
Investments ........................................................... 5.5 4.8
Income tax recoverable .................................................. — 3.4
Deferred tax assets ...................................................... 11.7 12.3
Other receivables ....................................................... 10.1 12.1
Total non-current assets ................................................ 1,232.9 1,186.4
Cash and short-term deposits .............................................. 104.2 72.1
Inventories ............................................................ 289.0 252.0
Trade and other receivables ............................................... 445.0 411.9
Income tax recoverable .................................................. 4.0 1.9
Derivative financial instruments ........................................... 0.9 0.3
Assets classified as held for sale ........................................... — 2.1
Total current assets .................................................... 843.1 740.3
Total assets ........................................................... 2,076.0 1,926.7
Liabilities
Interest-bearing borrowings ............................................... 415.5 575.0
Employee benefits – net liabilities ......................................... 14 86.1 100.9
Other payables ......................................................... 21.4 17.4
Provisions ............................................................ 27.0 29.5
Derivative financial instruments ........................................... 11.5 —
Deferred tax liabilities ................................................... 72.6 68.5
Total non-current liabilities ............................................. 634.1 791.3
Interest-bearing borrowings ............................................... 161.5 18.0
Trade and other payables ................................................. 337.3 280.5
Income tax payable ..................................................... 43.0 44.2
Provisions ............................................................ 22.7 15.7
Derivative financial instruments ........................................... 3.3 12.5
Total current liabilities ................................................. 567.8 370.9
Total liabilities ........................................................ 1,201.9 1,162.2
Net assets/Invested capital .............................................. 874.1 764.5
85