Appendices. IFRS and 2016 full year adjustments
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1 Appendices IFRS and 2016 full year adjustments 1
2 IFRS 15: Civil underlying revenue adjustments Civil: IFRS 15 OE revenue adjustments Diff No profit on linked sales (370) (147) 223 No capitalisation of linked engine cash loss (151) (285) (134) No CARs on unlinked contracts (161) (208) (47) Treatment of guarantees (106) 1 (71) 35 Manufacturing sales (100) 1 (105) (5) Total OE (888) 1 (816) 72 Civil: IFRS 15 AM revenue adjustments Diff No amortisation of prior year concession deferral Reduced valuation policy adjustment (136) Other contract accounting adjustments difference (145) (187) (42) Large engine cost incurred vs engine flying hour impact (75) (363) (288) Corporate-care/regional cost vs engine flying hour impact (120) (200) (80) Total AM (208) (474) (266) 1: Restated from those included in the 2016 November Capital Market presentation to reflect subsequent policy refinements of the application of the new standard choices, including in its subsidiaries and joint ventures. As a result of this ongoing work, it is possible that some changes may result. 2
3 IFRS 15: Civil underlying profit adjustments Civil: OE Profit Diff No profit on linked sales (370) (147) 223 No capitalisation of linked engine cash loss (151) (285) (134) No CARs on unlinked contracts (161) (208) (47) Treatment of guarantees (77) 1 (44) 33 No amortisation of CARs (16) No reversal of Trent 1000 contract impairment (65) - 65 Costs to obtain contracts Total OE (760) 1 (635) 125 Civil: AM Profit Diff No amortisation of prior year concession deferral Reduced valuation policy adjustment (136) Other contract accounting adjustments difference (110) (130) (20) Large engine cost incurred vs engine flying hour impact (75) (234) (159) Corporate-care/regional cost vs engine flying hour impact (120) (100) 20 Total AM (173) (188) (15) 1: Restated from those included in the 2016 November Capital Market presentation to reflect subsequent policy refinements of the application of the new standard choices, including in its subsidiaries and joint ventures. As a result of this ongoing work, it is possible that some changes may result. 3
4 IFRS 15: Civil balance sheet adjustments Civil: IFRS 15 adjustments Diff Reversal of CARs (0.4) (0.6) (0.2) Reversal of cumulative linked contract profit reported ahead of cash (2.3) (2.8) (0.5) Transition from flying hours to cost basis (1.2) 1 (1.2) - Guarantees and other (0.1) 1 (0.2) (0.1) Total pre tax reserves adjustment (4.0) 1 (4.8) (0.8) Tax Total reserves adjustment (3.2) 1 (3.9) (0.7) 1: Restated from those included in the 2016 November Capital Market presentation to reflect subsequent policy refinements of the application of the new standard choices, including in its subsidiaries and joint ventures. As a result of this ongoing work, it is possible that some changes may result. 4
5 Estimated IFRS 15 changes 2016 Civil OE Underlying Revenue Underlying Profit No profit on linked OE sale (147)m No profit on linked OE sales (147)m No capitalisation of linked engine cash loss (285)m No CARs on unlinked contracts (208)m Treatment of guarantees (71)m (816)m No capitalisation of linked engine cash loss (285)m No CARs on unlinked contracts (208)m Treatment of guarantees (44)m (635)m Manufacturing sales (105)m No amortisation of CARs 39m Costs to obtain contracts 10m No change to cash flows from any of the revenue and profit changes Note: All adjustments shown pre-tax effects choices, including in its subsidiaries and joint ventures. As a result of this ongoing work, it is possible that some changes to the impact above may result. 5
6 Estimated IFRS 15 changes 2016 Civil AM Underlying Revenue Underlying Profit No amortisation of prior years concession deferral 276m No amortisation of prior years concession deferral 276m Contract accounting adjustments difference (187)m Large engine cost incurred vs engine flying hour impact (363)m (474)m Contract accounting adjustments difference (130)m Large engine cost incurred vs engine flying hour impact (234)m (188)m CorporateCare and regional cost incurred vs engine flying hour impact (200)m CorporateCare and regional cost incurred vs engine flying hour impact (100)m No change to cash flows from any of the revenue and profit changes Note: All adjustments shown pre-tax effects choices, including in its subsidiaries and joint ventures. As a result of this ongoing work, it is possible that some changes to the impact above may result. 6
7 Estimated IFRS 15 changes Civil 2016 balance sheet adjustments Intangible Assets TotalCare Reversal of the CARs balance net assets Reversal of cumulative linked contract profit reported ahead of cash Tax Total Impact (0.6)bn (2.8)bn 0.9bn (3.9)bn Transition from flying our to cost basis (1.2)bn Guarantees and other (0.2)bn choices, including in its subsidiaries and joint ventures. As a result of this ongoing work, it is possible that some changes to the impact above may result. 7
Profit/(loss) before tax m Underlying 7,040 6, (84) (68) (59) 73 (143)
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