Acquisition of businesses (Tables)

12 Months Ended

Dec. 31, 2019

Text block [abstract]

Summary of Fair Value of Identifiable Assets Acquired and Liabilities Assumed

The fair values of the identifiable assets acquired and liabilities assumed, and the purchase consideration, have been finalised and reflect facts and circumstances that existed at the date of acquisition:

	$m
Identifiable intangible assets:
Brands		189
Management agreements		45
Right-of-use assets		19
Other non-current assets		8
Trade and other receivables		12
Cash and cash equivalents		7
Other current assets		1
Trade and other payables		(14	)
Lease liabilities		(19	)
Other liabilities		(2	)
Net identifiable assets acquired		246
Goodwill		58
Total purchase consideration		304
Comprising:
Cash paid on acquisition, including working capital settlement		299
Contingent purchase considerationa		5
		304

a Payable upon certain conditions being met relating to a pipeline property. The range of possible outcomes is $nil to $5m.

Summary of Cash Flows Relating to Acquisitions

Cash flows relating to acquisitions

	2019 $m			2018 $m
Cash paid on acquisition, including working capital settlement		299			22
Settlement of stamp duty liability		3			14
Less: cash and cash equivalents acquired		(7	)		(2	)
Less: working capital settlement received in year following acquisition		(3	)		—
Net cash outflow arising on acquisitions		292			34