Supplemental Guarantor Information | 36. Supplemental Guarantor Information The following consolidating information presents Condensed Consolidated Balance Sheets as at 31 December 2018 and 2017 and Condensed Consolidated Income Statements and Condensed Consolidated Statements of Comprehensive Income and Condensed Consolidated Statements of Cash Flow for the years ended 31 December 2018, 2017 and 2016 of the Company and CRH America, Inc. as required by Article 3-10(c) S-X. CRH America, Inc. (the ‘Issuer’) has the following notes which are fully and unconditionally guaranteed by CRH plc (the ‘Guarantor’): US$400 million 5.750% Notes due 2021 – listed on the NYSE US$1,250 million 3.875% Notes due 2025 – listed on Euronext Dublin US$300 million 6.40% Notes due 2033 – listed on Euronext Dublin (i) US$500 million 5.125% Notes due 2045 – listed on Euronext Dublin (i) Originally issued as a US$300 million bond in September 2003. Subsequently in August 2009 and December 2010, US$87.445 million of the issued notes were acquired by CRH plc as part of liability management exercises undertaken. Supplemental Condensed Consolidated Balance Sheet as at 31 December 2018 Guarantor € Issuer € Non-Guarantor € Eliminate and € CRH and € ASSETS Non-current Property, plant and equipment - - 15,761 - 15,761 Intangible assets - - 8,433 - 8,433 Subsidiaries 14,892 572 1,682 (17,146) - Investments accounted for using the equity method - - 1,163 - 1,163 Advances to subsidiaries and parent undertakings - 3,550 - (3,550) - Other financial assets - - 23 - 23 Other receivables - - 181 - 181 Derivative financial instruments - - 30 - 30 Deferred income tax assets - - 71 - 71 Total non-current 14,892 4,122 27,344 (20,696) 25,662 Current assets Inventories - - 3,061 - 3,061 Trade and other receivables - - 4,074 - 4,074 Advances to subsidiaries and parent undertakings 1,233 - 507 (1,740) - Current income tax recoverable - - 15 - 15 Derivative financial instruments - - 15 - 15 Cash and cash equivalents 411 - 1,935 - 2,346 Total current assets 1,644 - 9,607 (1,740) 9,511 Total assets 16,536 4,122 36,951 (22,436) 35,173 EQUITY Capital and reserves attributable to the Company’s equity holders 16,029 1,950 15,196 (17,146) 16,029 Non-controlling - - 525 - 525 Total equity 16,029 1,950 15,721 (17,146) 16,554 LIABILITIES Non-current Interest-bearing loans and borrowings - 2,098 6,600 - 8,698 Derivative financial instruments - 16 2 - 18 Deferred income tax liabilities - - 2,209 - 2,209 Other payables - - 472 - 472 Advances from subsidiary and parent undertakings - - 3,550 (3,550) - Retirement benefit obligations - - 424 - 424 Provisions for liabilities - - 719 - 719 Total non-current - 2,114 13,976 (3,550) 12,540 Current liabilities Trade and other payables - 21 4,588 - 4,609 Advances from subsidiary and parent undertakings 507 - 1,233 (1,740) - Current income tax liabilities - - 443 - 443 Interest-bearing loans and borrowings - 37 581 - 618 Derivative financial instruments - - 41 - 41 Provisions for liabilities - - 368 - 368 Total current liabilities 507 58 7,254 (1,740) 6,079 Total liabilities 507 2,172 21,230 (5,290) 18,619 Total equity and liabilities 16,536 4,122 36,951 (22,436) 35,173 Supplemental Condensed Consolidated Balance Sheet as at 31 December 2017 Guarantor € Issuer € Non-Guarantor € Eliminate and € CRH and € ASSETS Non-current Property, plant and equipment - - 13,094 - 13,094 Intangible assets - - 7,214 - 7,214 Subsidiaries 8,658 458 1,682 (10,798) - Investments accounted for using the equity method - - 1,248 - 1,248 Advances to subsidiaries and parent undertakings - 3,627 - (3,627) - Other financial assets - - 25 - 25 Other receivables - - 156 - 156 Derivative financial instruments - - 30 - 30 Deferred income tax assets - - 95 - 95 Total non-current 8,658 4,085 23,544 (14,425) 21,862 Current assets Inventories - - 2,715 - 2,715 Trade and other receivables - 4 3,626 - 3,630 Advances to subsidiaries and parent undertakings 6,141 - 704 (6,845) - Current income tax recoverable - - 165 - 165 Derivative financial instruments - 4 30 - 34 Cash and cash equivalents 401 - 1,714 - 2,115 Assets held for sale - - 1,112 - 1,112 Total current assets 6,542 8 10,066 (6,845) 9,771 Total assets 15,200 4,093 33,610 (21,270) 31,633 EQUITY Capital and reserves attributable to the Company’s equity holders 14,491 1,797 9,001 (10,798) 14,491 Non-controlling - - 486 - 486 Total equity 14,491 1,797 9,487 (10,798) 14,977 LIABILITIES Non-current Interest-bearing loans and borrowings - 2,020 5,640 - 7,660 Derivative financial instruments - 3 - - 3 Deferred income tax liabilities - - 1,666 - 1,666 Other payables - - 226 - 226 Advances from subsidiary and parent undertakings - - 3,627 (3,627) - Retirement benefit obligations - - 377 - 377 Provisions for liabilities - - 693 - 693 Total non-current - 2,023 12,229 (3,627) 10,625 Current liabilities Trade and other payables 3 29 4,502 - 4,534 Advances from subsidiary and parent undertakings 704 - 6,141 (6,845) - Current income tax liabilities - - 458 - 458 Interest-bearing loans and borrowings 2 244 70 - 316 Derivative financial instruments - - 11 - 11 Provisions for liabilities - - 371 - 371 Liabilities associated with assets classified as held for sale - - 341 - 341 Total current liabilities 709 273 11,894 (6,845) 6,031 Total liabilities 709 2,296 24,123 (10,472) 16,656 Total equity and liabilities 15,200 4,093 33,610 (21,270) 31,633 Supplemental Condensed Consolidated Income Statement Year ended 31 December 2018 Guarantor € Issuer € Non-Guarantor € Eliminate and reclassify € CRH and € Revenue - - 26,790 - 26,790 Cost of sales - - (18,152) - (18,152) Gross profit - - 8,638 - 8,638 Operating income/(costs) 1,741 - (8,202) - (6,461) Group operating profit 1,741 - 436 - 2,177 Loss on disposals (15) - (9) - (24) Profit before finance costs 1,726 - 427 - 2,153 Finance costs - (224) (346) 231 (339) Finance income 1 231 33 (231) 34 Other financial expense - - (46) - (46) Share of subsidiaries’ profit before tax 71 115 - (186) - Share of equity accounted investments’ profit 60 - 60 (60) 60 Profit before tax from continuing operations 1,858 122 128 (246) 1,862 Income tax expense (426) (32) (394) 426 (426) Group profit for the financial year from continuing operations 1,432 90 (266) 180 1,436 Profit after tax for the financial year from discontinued operations 1,085 - 1,085 (1,085) 1,085 Group profit for the financial year 2,517 90 819 (905) 2,521 Profit attributable to: Equity holders of the Company From continuing operations 1,432 90 (270) 180 1,432 From discontinued operations 1,085 - 1,085 (1,085) 1,085 Non-controlling From continuing operations - - 4 - 4 Group profit for the financial year 2,517 90 819 (905) 2,521 Supplemental Condensed Consolidated Statement of Comprehensive Income Group profit for the financial year 2,517 90 819 (905) 2,521 Other comprehensive income Items that may be reclassified to profit or loss in subsequent years: Currency translation effects 277 63 213 (277) 276 Losses relating to cash flow hedges (40) - (40) 40 (40) Tax relating to cash flow hedges 5 - 5 (5) 5 242 63 178 (242) 241 Items that will not be reclassified to profit or loss in subsequent years: Remeasurement of retirement benefit obligations 10 - 10 (10) 10 Tax relating to retirement benefit obligations (1) - (1) 1 (1) 9 - 9 (9) 9 Total other comprehensive income for the financial year 251 63 187 (251) 250 Total comprehensive income for the financial year 2,768 153 1,006 (1,156) 2,771 Attributable to: Equity holders of the Company 2,768 153 1,003 (1,156) 2,768 Non-controlling - - 3 - 3 Total comprehensive income for the financial year 2,768 153 1,006 (1,156) 2,771 Supplemental Condensed Consolidated Income Statement Year ended 31 December 2017 Guarantor € Issuer € Non-Guarantor € Eliminate and € CRH and € Revenue - - 25,220 - 25,220 Cost of sales - - (16,903) - (16,903) Gross profit - - 8,317 - 8,317 Operating income/(costs) 22 - (6,244) - (6,222) Group operating profit 22 - 2,073 - 2,095 Profit on disposals - - 56 - 56 Profit before finance costs 22 - 2,129 - 2,151 Finance costs - (235) (308) 242 (301) Finance income 2 242 10 (242) 12 Other financial expense - - (60) - (60) Share of subsidiaries’ profit before tax 1,754 83 - (1,837) - Share of equity accounted investments’ profit 65 - 65 (65) 65 Profit before tax from continuing operations 1,843 90 1,836 (1,902) 1,867 Income tax expense (55) (29) (26) 55 (55) Group profit for the financial year from continuing operations 1,788 61 1,810 (1,847) 1,812 Profit after tax for the financial year from discontinued operations 107 - 107 (107) 107 Group profit for the financial year 1,895 61 1,917 (1,954) 1,919 Profit attributable to: Equity holders of the Company From continuing operations 1,788 61 1,786 (1,847) 1,788 From discontinued operations 107 - 107 (107) 107 Non-controlling interests From continuing operations - - 24 - 24 Group profit for the financial year 1,895 61 1,917 (1,954) 1,919 Supplemental Condensed Consolidated Statement of Comprehensive Income Group profit for the financial year 1,895 61 1,917 (1,954) 1,919 Other comprehensive income Items that may be reclassified to profit or loss in subsequent years: Currency translation effects (1,015) (186) (890) 1,015 (1,076) Gains relating to cash flow hedges 8 - 8 (8) 8 (1,007) (186) (882) 1,007 (1,068) Items that will not be reclassified to profit or loss in subsequent years: Remeasurement of retirement benefit obligations 114 - 114 (114) 114 Tax on items recognised directly within other comprehensive income (33) - (33) 33 (33) 81 - 81 (81) 81 Total other comprehensive income for the financial year (926) (186) (801) 926 (987) Total comprehensive income for the financial year 969 (125) 1,116 (1,028) 932 Attributable to: Equity holders of the Company 969 (125) 1,153 (1,028) 969 Non-controlling interests - - (37) - (37) Total comprehensive income for the financial year 969 (125) 1,116 (1,028) 932 Supplemental Condensed Consolidated Income Statement Year ended 31 December 2016 Guarantor € Issuer € Non-Guarantor € Eliminate and € CRH and € Revenue - - 24,789 - 24,789 Cost of sales - - (16,566) - (16,566) Gross profit - - 8,223 - 8,223 Operating income/(costs) 20 - (6,335) - (6,315) Group operating profit 20 - 1,888 - 1,908 Profit on disposals - - 53 - 53 Profit before finance costs 20 - 1,941 - 1,961 Finance costs - (266) (334) 275 (325) Finance income 2 275 6 (275) 8 Other financial expense - - (66) - (66) Share of subsidiaries’ profit before tax 1,529 95 - (1,624) - Share of equity accounted investments’ profit 42 - 42 (42) 42 Profit before tax from continuing operations 1,593 104 1,589 (1,666) 1,620 Income tax expense (431) (41) (390) 431 (431) Group profit for the financial year from continuing operations 1,162 63 1,199 (1,235) 1,189 Profit after tax for the financial year from discontinued operations 81 - 81 (81) 81 Group profit for the financial year 1,243 63 1,280 (1,316) 1,270 Profit attributable to: Equity holders of the Company From continuing operations 1,162 63 1,172 (1,235) 1,162 From discontinued operations 81 - 81 (81) 81 Non-controlling interests From continuing operations - - 27 - 27 Group profit for the financial year 1,243 63 1,280 (1,316) 1,270 Supplemental Condensed Consolidated Statement of Comprehensive Income Group profit for the financial year 1,243 63 1,280 (1,316) 1,270 Other comprehensive income Items that may be reclassified to profit or loss in subsequent years: Currency translation effects (71) 49 (131) 71 (82) Gains relating to cash flow hedges 14 - 14 (14) 14 (57) 49 (117) 57 (68) Items that will not be reclassified to profit or loss in subsequent years: Remeasurement of retirement benefit obligations (61) - (61) 61 (61) Tax on items recognised directly within other comprehensive income 3 - 3 (3) 3 (58) - (58) 58 (58) Total other comprehensive income for the financial year (115) 49 (175) 115 (126) Total comprehensive income for the financial year 1,128 112 1,105 (1,201) 1,144 Attributable to: Equity holders of the Company 1,128 112 1,089 (1,201) 1,128 Non-controlling interests - - 16 - 16 Total comprehensive income for the financial year 1,128 112 1,105 (1,201) 1,144 Supplemental Condensed Consolidated Statement of Cash Flow Year ended 31 December 2018 Guarantor € Issuer € Non-Guarantor € Eliminate and € CRH and € Cash flows from operating activities Profit before tax from continuing operations 1,858 122 128 (246) 1,862 Profit before tax from discontinued operations 1,558 - 1,558 (1,558) 1,558 Profit before tax 3,416 122 1,686 (1,804) 3,420 Finance costs (net) (1) (7) 359 - 351 Share of subsidiaries’ profit before tax (1,629) (115) - 1,744 - Share of equity accounted investments’ profit (60) - (60) 60 (60) Loss/(profit) on disposals 15 - (1,554) - (1,539) Group operating profit 1,741 - 431 - 2,172 Depreciation charge - - 1,071 - 1,071 Amortisation of intangible assets - - 61 - 61 Impairment charge - - 56 - 56 Share-based payment (income)/expense (13) - 80 - 67 Other (primarily pension payments) - - (67) - (67) Net movement on working capital and provisions - (4) (459) - (463) Cash generated from operations 1,728 (4) 1,173 - 2,897 Interest paid (including finance leases) - (224) (342) 231 (335) Corporation tax paid - (32) (631) - (663) Net cash inflow/(outflow) from operating activities 1,728 (260) 200 231 1,899 Cash flows from investing activities Proceeds from disposals (net of cash disposed and deferred proceeds) - - 3,009 - 3,009 Interest received 1 231 33 (231) 34 Dividends received from equity accounted investments - - 48 - 48 Purchase of property, plant and equipment - - (1,121) - (1,121) Advances from subsidiary and parent undertakings (184) 241 238 (295) - Acquisition of subsidiaries (net of cash acquired) - - (3,505) - (3,505) Other investments and advances - - (2) - (2) Deferred and contingent acquisition consideration paid - - (55) - (55) Net cash (outflow)/inflow from investing activities (183) 472 (1,355) (526) (1,592) Cash flows from financing activities Proceeds from issue of shares (net) 11 - - - 11 Proceeds from exercise of share options 7 - - - 7 Advances to subsidiary and parent undertakings (238) - (57) 295 - Increase in interest-bearing loans, borrowings and finance leases - 31 1,403 - 1,434 Net cash flow arising from derivative financial instruments - - 6 - 6 Treasury/own shares purchased (792) - - - (792) Repayment of interest-bearing loans, borrowings and finance leases (2) (243) (1) - (246) Dividends paid to equity holders of the Company (521) - - - (521) Dividends paid to non-controlling - - (12) - (12) Net cash (outflow)/inflow from financing activities (1,535) (212) 1,339 295 (113) Increase in cash and cash equivalents 10 - 184 - 194 Reconciliation of opening to closing cash and cash equivalents Cash and cash equivalents at 1 January 401 - 1,734 - 2,135 Translation adjustment - - 17 - 17 Increase in cash and cash equivalents 10 - 184 - 194 Cash and cash equivalents at 31 December 411 - 1,935 - 2,346 Supplemental Condensed Consolidated Statement of Cash Flow Year ended 31 December 2017 Guarantor € Issuer € Non-Guarantor € Eliminate and € CRH and € Cash flows from operating activities Profit before tax from continuing operations 1,843 90 1,836 (1,902) 1,867 Profit before tax from discontinued operations 146 - 146 (146) 146 Profit before tax 1,989 90 1,982 (2,048) 2,013 Finance costs (net) (2) (7) 358 - 349 Share of subsidiaries’ profit before tax (1,900) (83) - 1,983 - Share of equity accounted investments’ profit (65) - (65) 65 (65) Profit on disposals - - (59) - (59) Group operating profit 22 - 2,216 - 2,238 Depreciation charge - - 1,006 - 1,006 Amortisation of intangible assets - - 66 - 66 Share-based payment (income)/expense (1) - 66 - 65 Other (primarily pension payments) - - (186) - (186) Net movement on working capital and provisions - (11) (198) - (209) Cash generated from operations 21 (11) 2,970 - 2,980 Interest paid (including finance leases) - (236) (323) 242 (317) Corporation tax paid - (29) (445) - (474) Net cash inflow/(outflow) from operating activities 21 (276) 2,202 242 2,189 Cash flows from investing activities Proceeds from disposals (net of cash disposed and deferred proceeds) - - 222 - 222 Interest received 2 242 9 (242) 11 Dividends received from equity accounted investments - - 31 - 31 Purchase of property, plant and equipment - - (1,044) - (1,044) Advances from subsidiary and parent undertakings 407 356 - (763) - Acquisition of subsidiaries (net of cash acquired) - - (1,841) - (1,841) Other investments and advances - - (11) - (11) Deferred and contingent acquisition consideration paid - - (53) - (53) Net cash inflow/(outflow) from investing activities 409 598 (2,687) (1,005) (2,685) Cash flows from financing activities Proceeds from issue of shares (net) 42 - - - 42 Transactions involving non-controlling - - (37) - (37) Advances to subsidiary and parent undertakings - - (763) 763 - Increase in interest-bearing loans, borrowings and finance leases - 6 1,004 - 1,010 Net cash flow arising from derivative financial instruments - 11 158 - 169 Premium paid on early debt redemption - (18) - - (18) Treasury/own shares purchased (3) - - - (3) Repayment of interest-bearing loans, borrowings and finance leases - (321) (22) - (343) Dividends paid to equity holders of the Company (469) - - - (469) Dividends paid to non-controlling interests - - (8) - (8) Net cash (outflow)/inflow from financing activities (430) (322) 332 763 343 Decrease in cash and cash equivalents - - (153) - (153) Reconciliation of opening to closing cash and cash equivalents Cash and cash equivalents at 1 January 401 - 2,048 - 2,449 Translation adjustment - - (161) - (161) Decrease in cash and cash equivalents - - (153) - (153) Cash and cash equivalents at 31 December 401 - 1,734 - 2,135 Supplemental Condensed Consolidated Statement of Cash Flow Year ended 31 December 2016 Guarantor € Issuer € Non-Guarantor € Eliminate and € CRH and € Cash flows from operating activities Profit before tax from continuing operations 1,593 104 1,589 (1,666 ) 1,620 Profit before tax from discontinued operations 121 - 121 (121 ) 121 Profit before tax 1,714 104 1,710 (1,787) 1,741 Finance costs (net) (2) (9) 394 - 383 Share of subsidiaries’ profit before tax (1,650) (95) - 1,745 - Share of equity accounted investments’ profit (42) - (42) 42 (42) Profit on disposals - - (55) - (55) Group operating profit 20 - 2,007 - 2,027 Depreciation charge - - 1,009 - 1,009 Amortisation of intangible assets - - 71 - 71 Impairment charge - - 23 - 23 Share-based payment (income)/expense (3) - 49 - 46 Other (primarily pension payments) - - (65) - (65) Net movement on working capital and provisions - (1) 57 - 56 Cash generated from operations 17 (1) 3,151 - 3,167 Interest paid (including finance leases) - (266) (355) 275 (346) Corporation tax paid - (41) (440) - (481) Net cash inflow/(outflow) from operating activities 17 (308) 2,356 275 2,340 Cash flows from investing activities Proceeds from disposals (net of cash disposed and deferred proceeds) - - 283 - 283 Interest received 2 275 6 (275) 8 Dividends received from equity accounted investments - - 40 - 40 Purchase of property, plant and equipment - - (853) - (853) Advances from subsidiary and parent undertakings 287 644 - (931) - Acquisition of subsidiaries (net of cash acquired) - - (149) - (149) Other investments and advances - - (7) - (7) Deferred and contingent acquisition consideration paid - - (57) - (57) Net cash inflow/(outflow) from investing activities 289 919 (737) (1,206) (735) Cash flows from financing activities Proceeds from issue of shares (net) 52 - - - 52 Advances to subsidiary and parent undertakings - - (931) 931 - Increase in interest-bearing loans, borrowings and finance leases - - 600 - 600 Net cash flow arising from derivative financial instruments - 25 (30) - (5) Treasury/own shares purchased (4) - - - (4) Repayment of interest-bearing loans, borrowings and finance leases (9) (636) (1,370) - (2,015) Dividends paid to equity holders of the Company (352) - - - (352) Dividends paid to non-controlling - - (8) - (8) Net cash (outflow)/inflow from financing activities (313) (611) (1,739) 931 (1,732) Decrease in cash and cash equivalents (7) - (120) - (127) Reconciliation of opening to closing cash and cash equivalents Cash and cash equivalents at 1 January 408 - 2,110 - 2,518 Translation adjustment - - 58 - 58 Decrease in cash and cash equivalents (7) - (120) - (127) Cash and cash equivalents at 31 December 401 - 2,048 - 2,449 |