Inter-segment transactions are entered into under normal commercial terms and conditions that would also be available to unrelated third parties. The Board does not distinguish between revenue from internal or external customers when measuring the performance of segments. All revenue is reported to the Board on a basis consistent with that used in the income statement. The Board assesses the performance of segments based on a measure of adjusted EBITDAF. This measure excludes the effects of non-operational expenditure or gains such as loss/gain on disposal or impairments of property, plant and equipment, fair value changes in foreign currency financial assets/liabilities and costs of major business acquisitions. Interest income and expenditure and taxation costs are not allocated to segments as these activities are managed at a Group level by a central treasury function. The Board does not segregate assets and liabilities in assessing Group performance. Capital expenditure comprises additions to property, plant and equipment and intangible assets. A reconciliation of adjusted EBITDAF to profit before income tax is as follows:
|
|
|
|
GROUP |
| |
|
|
|
2013
$000 |
2012
$000 |
|
|
|
|
|
|
| Adjusted EBITDAF |
|
|
|
293,500 |
302,742 |
| Depreciation |
|
|
|
(58,057) |
(52,880) |
| Amortisation |
|
|
|
(7,930) |
(5,357) |
| Fair value gains/(losses) on financial instruments |
|
|
|
(5,593) |
(7,544) |
| Foreign exchange gains/(losses) |
|
|
|
1,152 |
(2,610) |
| Loss on sale of property, plant and equipment |
|
|
|
104 |
5 |
| Impairment of assets |
|
|
|
- |
(428) |
| Interest received |
|
|
|
1,472 |
904 |
| Interest paid |
|
|
|
(64,219) |
(63,889) |
|
|
|
|
|
|
| Profit before income tax |
|
|
|
160,429 |
170,943 |
|
|
|
|
|
|
|