Supplemental Guarantor Information | 37. Supplemental Guarantor Information The following consolidating information presents Condensed Consolidated Balance Sheets as at 31 December 2019 and 2018 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 2019, 2018 and 2017 of the Company and CRH America, Inc. as required by Article 3-10(c) S-X. CRH plc also fully and unconditionally guarantees securities issued by CRH America Finance, Inc., which is a 100% owned finance subsidiary of CRH plc. 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 2019 Guarantor € Issuer € Non-Guarantor subsidiaries € Eliminate and reclassify € CRH and subsidiaries € ASSETS Non-current Property, plant and equipment - - 17,424 - 17,424 Intangible assets - - 8,434 - 8,434 Subsidiaries 15,621 709 1,682 (18,012) - Investments accounted for using the equity method - - 690 - 690 Advances to subsidiaries and parent undertakings - 3,549 - (3,549) - Other financial assets - - 12 - 12 Other receivables - - 317 - 317 Derivative financial instruments - 20 56 - 76 Deferred income tax assets - - 67 - 67 Total non-current 15,621 4,278 28,682 (21,561) 27,020 Current assets Inventories - - 2,742 - 2,742 Trade and other receivables - - 3,767 - 3,767 Advances to subsidiaries and parent undertakings 967 - 106 (1,073) - Current income tax recoverable - - 20 - 20 Derivative financial instruments - - 6 - 6 Cash and cash equivalents 458 - 3,297 - 3,755 Total current assets 1,425 - 9,938 (1,073) 10,290 Total assets 17,046 4,278 38,620 (22,634) 37,310 EQUITY Capital and reserves attributable to the Company’s equity holders 16,940 2,087 15,925 (18,012) 16,940 Non-controlling - - 540 - 540 Total equity 16,940 2,087 16,465 (18,012) 17,480 LIABILITIES Non-current Lease liabilities - - 1,240 - 1,240 Interest-bearing loans and borrowings - 2,171 6,028 - 8,199 Derivative financial instruments - - 1 - 1 Deferred income tax liabilities - - 2,338 - 2,338 Other payables - - 485 - 485 Advances from subsidiary and parent undertakings - - 3,549 (3,549) - Retirement benefit obligations - - 427 - 427 Provisions for liabilities - - 760 - 760 Total non-current - 2,171 14,828 (3,549) 13,450 Current liabilities Lease liabilities - - 271 - 271 Trade and other payables - 20 4,356 - 4,376 Advances from subsidiary and parent undertakings 106 - 967 (1,073) - Current income tax liabilities - - 503 - 503 Interest-bearing loans and borrowings - - 815 - 815 Derivative financial instruments - - 16 - 16 Provisions for liabilities - - 399 - 399 Total current liabilities 106 20 7,327 (1,073) 6,380 Total liabilities 106 2,191 22,155 (4,622) 19,830 Total equity and liabilities 17,046 4,278 38,620 (22,634) 37,310 Supplemental Condensed Consolidated Balance Sheet as at 31 December 2018 Guarantor € Issuer € Non-Guarantor subsidiaries € 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 Income Statement Year ended 31 December 2019 Guarantor € Issuer € Non-Guarantor € Eliminate and reclassify € CRH and subsidiaries € Revenue - - 25,129 - 25,129 Cost of sales - - (16,846) - (16,846) Gross profit - - 8,283 - 8,283 Operating income/(costs) 1,531 - (7,320) - (5,789) Group operating profit 1,531 - 963 - 2,494 (Loss)/profit on disposals (13) - 12 - (1) Profit before finance costs 1,518 - 975 - 2,493 Finance costs (3) (280) (353) 290 (346) Finance income - 290 20 (290) 20 Other financial expense - - (112) - (112) Share of subsidiaries’ profit before tax 522 136 - (658) - Share of equity accounted investments’ profit 60 - 60 (60) 60 Profit before tax from continuing operations 2,097 146 590 (718) 2,115 Income tax expense (477) (36) (441) 477 (477) Group profit for the financial year from continuing operations 1,620 110 149 (241) 1,638 Profit after tax for the financial year from discontinued operations 309 - 310 (309) 310 Group profit for the financial year 1,929 110 459 (550) 1,948 Profit attributable to: Equity holders of the Company From continuing operations 1,620 110 131 (241) 1,620 From discontinued operations 309 - 309 (309) 309 Non-controlling From continuing operations - - 18 - 18 From discontinued operations - - 1 - 1 Group profit for the financial year 1,929 110 459 (550) 1,948 Supplemental Condensed Consolidated Statement of Comprehensive Income Group profit for the financial year 1,929 110 459 (550) 1,948 Other comprehensive income Items that may be reclassified to profit or loss in subsequent years: Currency translation effects 319 27 316 (319) 343 Gains relating to cash flow hedges 24 - 24 (24) 24 Tax relating to cash flow hedges (3) - (3) 3 (3) 340 27 337 (340) 364 Items that will not be reclassified to profit or loss in subsequent years: Remeasurement of retirement benefit obligations (17) - (17) 17 (17) Tax relating to retirement benefit obligations (3) - (3) 3 (3) (20) - (20) 20 (20) Total other comprehensive income for the financial year 320 27 317 (320) 344 Total comprehensive income for the financial year 2,249 137 776 (870) 2,292 Attributable to: Equity holders of the Company 2,249 137 733 (870) 2,249 Non-controlling - - 43 - 43 Total comprehensive income for the financial year 2,249 137 776 (870) 2,292 Supplemental Condensed Consolidated Income Statement Year ended 31 December 2018 Restated (i) Guarantor € Issuer € Non-Guarantor subsidiaries € Eliminate and € CRH and subsidiaries € Revenue - - 23,241 - 23,241 Cost of sales - - (15,572) - (15,572) Gross profit - - 7,669 - 7,669 Operating income/(costs) 1,741 - (7,339) - (5,598) Group operating profit 1,741 - 330 - 2,071 Loss on disposals (15) - (12) - (27) Profit before finance costs 1,726 - 318 - 2,044 Finance costs - (224) (346) 231 (339) Finance income 1 231 33 (231) 34 Other financial expense - - (46) - (46) Share of subsidiaries’ (loss)/profit before tax (37) 115 - (78) - Share of equity accounted investments’ profit 48 - 48 (48) 48 Profit before tax from continuing operations 1,738 122 7 (126) 1,741 Income tax expense (396) (32) (364) 396 (396) Group profit for the financial year from continuing operations 1,342 90 (357) 270 1,345 Profit after tax for the financial year from discontinued operations 1,175 - 1,176 (1,175) 1,176 Group profit for the financial year 2,517 90 819 (905) 2,521 Profit attributable to: Equity holders of the Company From continuing operations 1,342 90 (360) 270 1,342 From discontinued operations 1,175 - 1,175 (1,175) 1,175 Non-controlling From continuing operations - - 3 - 3 From discontinued operations - - 1 - 1 Group profit for the financial year 2,517 90 819 (905) 2,521 (i) Restated to show the results of our former Europe Distribution segment in discontinued operations. 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 Restated (i) Guarantor € Issuer € Non-Guarantor subsidiaries € Eliminate and reclassify € CRH and subsidiaries € Revenue - - 21,653 - 21,653 Cost of sales - - (14,275) - (14,275) Gross profit - - 7,378 - 7,378 Operating income/(costs) 22 - (5,473) - (5,451) Group operating profit 22 - 1,905 - 1,927 Profit on disposals - - 54 - 54 Profit before finance costs 22 - 1,959 - 1,981 Finance costs - (235) (308) 242 (301) Finance income 2 242 10 (242) 12 Other financial expense - - (59) - (59) Share of subsidiaries’ profit before tax 1,586 83 - (1,669) - Share of equity accounted investments’ profit 52 - 52 (52) 52 Profit before tax from continuing operations 1,662 90 1,654 (1,721) 1,685 Income tax expense (12) (29) 17 12 (12) Group profit for the financial year from continuing operations 1,650 61 1,671 (1,709) 1,673 Profit after tax for the financial year from discontinued operations 245 - 246 (245) 246 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 1,650 61 1,648 (1,709) 1,650 From discontinued operations 245 - 245 (245) 245 Non-controlling From continuing operations - - 23 - 23 From discontinued operations - - 1 - 1 Group profit for the financial year 1,895 61 1,917 (1,954) 1,919 (i) Restated to show the results of our former Europe Distribution segment in discontinued operations. 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 - - (37) - (37) Total comprehensive income for the financial year 969 (125) 1,116 (1,028) 932 Supplemental Condensed Consolidated Statement of Cash Flow Year ended 31 December 2019 Guarantor € Issuer € Non-Guarantor subsidiaries € Eliminate and € CRH and € Cash flows from operating activities Profit before tax from continuing operations 2,097 146 590 (718) 2,115 Profit before tax from discontinued operations 332 - 333 (332) 333 Profit before tax 2,429 146 923 (1,050) 2,448 Finance costs (net) 3 (10) 452 - 445 Share of subsidiaries’ profit before tax (842) (136) - 978 - Share of equity accounted investments’ profit (72) - (72) 72 (72) Loss/(profit) on disposals 13 - (239) - (226) Group operating profit 1,531 - 1,064 - 2,595 Depreciation charge - - 1,538 - 1,538 Amortisation of intangible assets - - 59 - 59 Impairment charge - - 8 - 8 Share-based payment (income)/expense (26) - 103 - 77 Other (primarily pension payments) - - (3) - (3) Net movement on working capital and provisions - (1) (63) - (64) Cash generated from operations 1,505 (1) 2,706 - 4,210 Interest paid (including leases) (3) (280) (426) 290 (419) Corporation tax paid - (36) (289) - (325) Net cash inflow/(outflow) from operating activities 1,502 (317) 1,991 290 3,466 Cash flows from investing activities Proceeds from disposals (net of cash disposed and deferred proceeds) - - 2,096 - 2,096 Interest received - 290 20 (290) 20 Dividends received from equity accounted investments - - 35 - 35 Purchase of property, plant and equipment - - (1,229) - (1,229) Advances from subsidiary and parent undertakings (375) 70 (336) 641 - Acquisition of subsidiaries (net of cash acquired) - - (650) - (650) Other investments and advances - - (29) - (29) Deferred and contingent acquisition consideration paid - - (48) - (48) Net cash (outflow)/inflow from investing activities (375) 360 (141) 351 195 Cash flows from financing activities Proceeds from exercise of share options 20 - - - 20 Transactions involving non-controlling - - (19 ) - (19 ) Advances to subsidiary and parent undertakings 336 - 305 (641) - Increase in interest-bearing loans and borrowings - - 91 - 91 Net cash flow arising from derivative financial instruments - - (36) - (36) Repayment of interest-bearing loans, borrowings and finance leases - (43) (529) - (572) Repayment of lease liabilities - - (317) - (317) Treasury Shares/own shares purchased (852) - - - (852) Dividends paid to equity holders of the Company (584) - - - (584) Dividends paid to non-controlling - - (10) - (10) Net cash (outflow)/inflow from financing activities (1,080) (43) (515) (641) (2,279) Increase in cash and cash equivalents 47 - 1,335 - 1,382 Reconciliation of opening to closing cash and cash equivalents Cash and cash equivalents at 1 January 411 - 1,935 - 2,346 Translation adjustment - - 27 - 27 Increase in cash and cash equivalents 47 - 1,335 - 1,382 Cash and cash equivalents at 31 December 458 - 3,297 - 3,755 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 1,738 122 7 (126) 1,741 Profit before tax from discontinued operations 1,678 - 1,679 (1,678) 1,679 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 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 and borrowings - 31 1,403 - 1,434 Net cash flow arising from derivative financial instruments - - 6 - 6 Repayment of interest-bearing loans, borrowings and finance leases (2) (243) (1) - (246) Treasury Shares/own shares purchased (792) - - - (792) 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 1,662 90 1,654 (1,721) 1,685 Profit before tax from discontinued operations 327 - 328 (327) 328 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 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 and borrowings - 6 1,004 - 1,010 Net cash flow arising from derivative financial instruments - 11 158 - 169 Premium paid on early debt redemption - (18) - - (18) Repayment of interest-bearing loans, borrowings and finance leases - (321) (22) - (343) Treasury Shares/own shares purchased (3) - - - (3) Dividends paid to equity holders of the Company (469) - - - (469) Dividends paid to non-controlling - - (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 |