RBS 2013 Annual Report Download - page 486
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Notes on the consolidated accounts
484
34 Analysis of the net investment in business interests and intangible assets
2013 2012 2011
Acquisitions and disposals £m £m £m
Fair value given for businesses acquired — (68) (44)
Net assets sold 1,435 1,317 (299)
Non-cash consideration 3 (90) —
Profit/(loss) on disposal 240 95 (28)
Net cash and cash equivalents disposed 210 — —
Net inflow/(outflow) of cash in respect of disposals 1,888 1,322 (327)
Dividends received from associates 134 22 11
Cash expenditure on intangible assets (872) (924) (1,068)
Net inflow/(outflow) 1,150 352 (1,428)
Note:
(1) Includes cash proceeds of £578 million in 2013 relating to the disposal of the controlling interest in Direct Line Group.
35 Interest received and paid
2013 2012 2011
£m £m £m
Interest received 17,948 19,238 21,777
Interest paid (6,450) (7,044) (8,629)
11,498 12,194 13,148
36 Analysis of changes in financing during the year
Share capital, share premium,
paid-in equity and merger reserve Subordinated liabilities
2013 2012* 2011* 2013 2012 2011
£m £m £m £m £m £m
A
t 1 January 45,144 53,520 53,298 26,773 26,319 27,053
Issue of ordinary shares 264 120 2 — — —
Net proceeds from issue of subordinated liabilities — — — 1,796 2,093 —
Repayment of subordinated liabilities — — — (3,500) (258) (627)
Net cash inflow/(outflow) from financing 264 120 2 (1,704) 1,835 (627)
Transfer to retained earnings — — (50) — — —
Share capital sub-division and consolidation — (8,933) — — — —
Ordinary shares issued in respect of employee share schemes 174 437 270 — — —
Other adjustments including foreign exchange — — — (1,057) (1,381) (107)
A
t 31 Decembe
r
45,582 45,144 53,520 24,012 26,773 26,319
*Restated