Reed Elsevier Annual Review 2002

Reed Elsevier combined businesses
Adjusted figures
Adjusted profits and cash flow figures are used by the Reed Elsevier businesses as additional performance measures. The adjusted figures are stated before the amortisation of goodwill and intangible assets, exceptional items and related tax effects, and are derived as follows:


	2002 £m	2001 £m	2002 m	2001 m

Operating profit including joint ventures Amortisation of goodwill and intangible assets Exceptional items	507 527 99	391 501 98	806 838 157	630 806 158

Adjusted operating profit	1,133	990	1,801	1,594

Profit before tax Amortisation of goodwill and intangible assets Exceptional items	289 527 111	275 501 72	460 838 176	442 806 117

Adjusted profit before tax	927	848	1,474	1,365

Profit attributable to parent companies’ shareholders Amortisation of goodwill and intangible assets Exceptional items	181 512 (11)	126 507 (9)	288 814 (18)	202 816 (13)

Adjusted profit attributable to parent companies’ shareholders	682	624	1,084	1,005

Net cash inflow from operating activities Dividends from joint ventures Purchase of tangible fixed assets, less disposals Payments in relation to exceptional items charged to operating profit	1,035 13 (157) 119	1,066 12 (169) 97	1,645 21 (250) 190	1,717 19 (272) 156

Adjusted operating cash flow	1,010	1,006	1,606	1,620


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