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64175 Synchroy . indd 7 3/13/20 4:25 PM ^Ykl%ljY[c]\ 'go o] ogjc& O]Ìn] ]phYf\]\ gmj cross-functional, team-based Agile approach Z]qgf\ gmj kgøoYj] \]n]dghe]fl l]Yek& Using these methods, we are driving new levels of speed-adopting a continuous, iterative approach to our work across Synchrony. We continue to deliver on...
SYF
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FINANCIAL HIGHLIGHTS Synchrony is utilizing our strong capital position to support growth, launch new programs, invest in products and capabilities, and return capital to shareholders through dividends and share repurchases. We continue to operate with a n]jq kljgf_ ZYdYf[] k']]l Yf\ ÕfYf[aYd hjgÕd] ZYk]\ gf \ak[ahdaf]...
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A MESSAGE FROM THE BOARD OF DIRECTORS Dear Stakeholders, As Synchrony's board of directors, we are committed to overseeing the creation of longterm value for our stakeholders. We believe that our stockholders are best served when Synchrony achieves results responsibly, based on a culture of doing what's right, and in a...
SYF
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64175 Synchroy . indd 5 3/13/20 4:25 PM SPOTLIGHTING OUR TECHNOLOGY HERE ARE FOUR DIGITAL PRODUCTS AND CAPABILITIES THAT ARE DELIVERING RADICALLY SIMPLE CUSTOMER EXPERIENCES: FASTER dApplyak Kqf['jgfqÌk \a_alYd [j]\al approval process for mobile, tablet or desktop that makes applying for credit a quick, easy process. B...
SYF
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64175 Synchroy . indd 3 3/13/20 4:25 PM CHANGING WHAT'S POSSIBLE It's been five fast-paced, growthfilled years since our IPO. Today, we are delivering on our shortterm priorities while investing for long-term success-driven by our strategy: - 1. Expand our existing partnerships while adding new programs. - 2. Diversify...
SYF
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64175 Synchroy Cover . indd 2 3/13/20 7:32 PM SYNCHRONY (NYSE: SYF) 777 LONG RIDGE ROAD STAMFORD, CT 06902 INVESTOR INQUIRIES 855-818-3056
SYF
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BART SCHALLER =NH Yf\ Chief EYjc]laf_ G÷a[]j HENRY GREIG =NH$ ;'a]^ ;j]\al G÷a[]j Yf\ ;YhalYd EYfY_]e]fl D]Y\]j ROY GUTHRIE >gje]j ;=G g^ J]fgnYl] 9e]ja[Y$ Af[& Yf\ ^gje]j =p][mlan] Na[] Hj]ka\]fl Yf\ ;>G g^ <ak[gn]j >afYf[aYd K]jna[]k$ Af[& KURT GROSSHEIM =NH Yf\ Chief - Gh]jYlaf_ G÷a[]j DJ CASTO =NH Yf\ ;'a]^ @meYf J...
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BOARD RISK OVERSIGHT The board and the Risk Committee oversee the Company's enterprise-wide risk management program to ensure that all relevant risks, including credit risk, market risk, liquidity risk, operational risk (including compliance risk), strategic risk and reputational risk are YhhjghjaYl]dq a\]flaÕ]\ Yf\ [g...
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PUTTING THE FUTURE WITHIN REACH 64175 Synchroy . indd 1 3/13/20 4:25 PM Dear Stakeholders, This annual report marks an important milestone. On July 31, 2019, we celebrated five years since our IPO. I am pleased to report that Synchrony continued our history of strong performance while executing our strategy to grow and...
SYF
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8 64175 Synchroy . indd GROWTH HIGHLIGHTS RETAIL CARD Consumer payments provider for major digital partners and retailers. - · Loan receivables of more than $56 billion in 2019. - · Continued growth and diversification through digitally driven partners. - · Extended and expanded relationship with PayPal, including beco...
SYF
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Synchrony partners with businesses of all sizes- from small shops on Main Street, to digitally driven companies and major franchises-to enhance the customer experience and drive sales through every touchpoint-online, mobile and in-store. Synchrony partners with businesses of all sizes- from small shops on Main Street, ...
SYF
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In addition to helping people stay healthier, CareCredit is doing the same for their pets. Today, approximately 85% of eligible veterinary practices have enrolled with CareCredit. In 2019, we acquired Pets Best, a pioneer in the fast-growing pet health insurance market. Pets Best is a natural complement to our popular ...
SYF
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64175 Synchroy . indd 3 3/13/20 4:25 PM DIVERSIFYING WITH NEW PRODUCTS AND MARKETS In 2019, we expanded our Payment Solutions and CareCredit platforms. Both command leadership positions in their respective markets and represent continuing growth opportunities for Synchrony. Payment Solutions Payment Solutions surpassed...
SYF
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CHANGING WHAT'S POSSIBLE OUR VISION: To build a future where every ambition is within reach. OUR MISSION: We create financial and technology solutions to move our customers and partners forward. OUR VALUES: Honest. Passionate. Caring. Responsible. Bold. Driven. 6 64175 Synchroy . indd 6 3/13/20 4:25 PM LIVING OUR VALUE...
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64175 Synchroy Cover . indd 1 3/20/20 8:02 AM synchrony.com
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STRATEGIC PRIORITIES FOCUS ON LONG-TERM VALUE CREATION WHILE DIVERSIFYING FOR THE FUTURE: Grow core partnerships and continue to add new programs at attractive returns. - · Drive growth for our partners and continue to strengthen our relationships by delivering new products and capabilities. - · Launch new programs wit...
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WAYNE BRUNETTI, CHAIRMAN, PRESIDENT AND CEO, IS SHOWN AT XCEL ENERGY'S HENNEPIN ISL AND PL ANT, ONE OF 35 HYDRO PLANTS OWNED AND OPERATED BY THE COMPANY. COMPARATIVE YIELDS at December 31, 2001 (in percent) 2 DEAR SHAREHOLDERS In one of the most challenging years ever for the energy industry, Xcel Energy proved it has ...
XEL
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BUILT TO LAST XCEL ENERGY HAS STAYING POWER For the energy industry, 2001 proved to be a year like no other. Wholesale energy markets fluctuated wildly, the economy softened, electric deregulation efforts stalled and Enron fell. Xcel Energy, however, weathered the storms because your company has staying power. Staying ...
XEL
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X CEL ENERGY INC. Xcel Energy Inc. is the fourth-largest combination natural gas and electric utility in the nation, with annual revenues of $15 billion. Based in Minneapolis, Minn., Xcel Energy operates in 12 Western and Midwestern states. The company provides a comprehensive portfolio of energy-related products and s...
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successful in North Dakota with the system and plans to pursue it in other jurisdictions. In Colorado, we are seeking adjustments to the existing PBR model as part of a required rate case that will be filed in 2002. Finally, Xcel Energy is going to deliver on its promises to stakeholders - its customers, employees and ...
XEL
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DON PERRY, LEAD GAS FITTER, (LEFT) AND VINCE MAZZUCCA, GAS APPRENTICE, WORKED TOGETHER ON A GAS CONSTRUCTION CREW OUT OF EVERGREEN, COLO., UNTIL FEBRUARY 2002, WHEN PERRY RETIRED AFTER 28 YEARS OF SERVICE. 8
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- - expanded its already impressive portfolio of wind generation, with a goal of having 500 megawatts on line by the end of 2002, making Xcel Energy one of the top wind utilities in the nation; - - received national recognition for its WindSource program; - - initiated a major effort to standardize operating procedures...
XEL
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Xcel Energy's marketing and trading effort also is built on rigorous risk management capabilities. The company uses astute trading strategies to capitalize on the volatility of the market, but doesn't take undue risk. Traders work hard to achieve the maximum return at the minimum risk. Those fundamentals will guide the...
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In addition to financial strength, staying power is measured by long-term com mitments. Xcel Energy is strongly committed to the communities it serves. The company's contributions include corporate grants through the Xcel Energy Foundation, economic development efforts and employee and retiree volunteerism. In 2001, Xc...
XEL
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Xcel Energy also benefits from a balanced portfolio of energy sources, including coal, nuclear, natural gas and renewable fuels such as hydro, wind and biomass. A good balance minimizes the impact of changes in fuel supply or price. The company generates about 73 percent of the electricity it delivers and purchases the...
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TRANSLINK, OUR PROPOSED INDEPENDENT TRANSMISSION COMPANY, WILL INCLUDE 29,000 MILES OF TRANSMISSION LINE AND SERVE 6.9 MILLION CUS- TOMERS IN 14 STATES, MAKING IT ONE OF THE LARGEST TRANS- MISSION COMPANIES IN THE NATION. IT WILL LINK TO 35,000 MEGAWATTS OF GENERATING POWER. As Xcel Energy strives to maximize the value...
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X CEL ENERGY NRG EARNINGS PER SHARE dollars per NRG share (diluted) TABLE OF CONTENTS: PAGE 2 - LETTER TO SHAREHOLDERS, PAGE 7 - BUILT TO LAST, PAGE 18 ON THE COVER: LINEMAN APPRENTICE JOBY SALLEE IS ONE OF MANY XCEL ENERGY EMPLOYEES WHO CONTRIBUTE TO THE COMPANY’S STAYING POWER.
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In February 2002, Xcel Energy's board of directors approved plans to initiate an exchange offer by which Xcel Energy would acquire all of the outstanding publicly held shares of NRG. At the same time, Xcel Energy announced its plans to refocus NRG's current business model. The plans include reducing NRG's rate of growt...
XEL
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To contribute to earnings growth, Xcel Energy introduced a number of new rev enue-generating products in 2001 that help customers conserve energy and manage their energy use. For example, InfoWiWise products and services allow customers to use the Internet to obtain real-time information to track and analyze their ener...
XEL
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THE XCEL ENERGY TEAM OF (FROM LEFT) TOMMY BULLOCK, SERVICEMAN, ART SAMARRON, JOURNEYMAN LINEMAN, AND JOBY SALLEE, LINEMAN APPRENTICE, COMPETED WITH DISTINCTION IN THE 2001 INTERNATIONAL LINEMAN'S RODEO. BULLOCK IS STATIONED IN DENVER CITY, TEXAS, AND SAMARRON AND SALLEE WORK OUT OF ROSWELL, N.M. 16
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Governance | Remuneration Report Remuneration Summary for 2018 Total remuneration received in 2018 (£000)(1) Iain Conn £2,416 2017: £1,678 Jeff Bell £1,241 2017: £994 Mark Hanafin £1,501 2017: £1,726 Mark Hodges (2) £822 2017: £1,119 Richard Hookway £206 Chris O'Shea £394 Fixed remuneration Short-term incentive Long-te...
CNA
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Ofgem Consolidated Segmental Statement Independent Auditor's Report to the Directors of Centrica plc and its Licensees In our opinion the accompanying statement (the 'Consolidated Segmental Statement' or 'CSS') of Centrica plc and its Licensees fofor the year ended 31 December 2018 is prepared, in all material respects...
CNA
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Strategic Report | Group Financial Review Statutory taxation on profit increased to a charge of £333 million (2017: credit of £161 million), with a statutory effective tax rate of 58%. Business performance taxation on profit increased to £461 million (2017: £191 million) and after taking account of tax on joint venture...
CNA
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Financial Statements Independent Auditor's Report Report on the audit of the financial statements Opinion In our opinion: - · the Financial Statements of Centrica plc (the 'Company') and its subsidiaries (the 'Group') give a true and fair view of the state of the Group's and of the Company's affairs as at 31 December 2...
CNA
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Financial Statements Group Cash Flow Statement Year ended 31 December Group operating profit including share of results of joint ventures and associates Add back/(deduct) share of losses/(profits) of joint ventures and associates, net of interest and taxation Group operating profit before share of results of joint vent...
CNA
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Governance I Committee Reports Areas of focus Modern Slavery Act (MSA) Statement Outcome: 2017 MSA Statement reviewed and recommended to Centrica's Board for approval Procurement and Supplier Management Outcome: Reviewed and challenged Centrica's procurement and supplier management work practices in support of Centrica...
CNA
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4. Segmental analysis (b) Revenue Gross segment revenue represents revenue generated from the sale of products and services to both third parties and to other reportable segments of the Group. Group revenue reflects only the sale of products and services to third parties. Sales between reportable segments are conducted...
CNA
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Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 Viability Statement Requirement The UK Corporate Governance Code 2016 requires the Directors to assess the prospects for the Group, taking into account the current position and significant risks, over a longer period than the 12 m...
CNA
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Financial Statements | Notes to the Financial Statements Supplementary information (continued) S5. Hedge accounting The Group applies hedge accounting to address interest rate and foreign currency risk on borrowings. For the purposes of hedge accounting, hedges are classified either as fair value hedges, cash flow hed...
CNA
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Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 79 Key investor relations activities during the year included Annual General Meeting (AGM) Our AGM is attended by our Board and Executive Committee members and is open to all our shareholders to attend. A summary presentation of f...
CNA
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Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 65 Collaborate across sectors to improve local communities We are tackling issues that our communities and business care passionately about. Through the Movement to Work scheme, we gave over 350 young, unemployed people the opport...
CNA
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Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 Index to Directors' Report and other disclosures Employee participation in share schemes The Company's all-employee share schemes are a longestablished and successful part of our total reward package, encouraging and supporting em...
CNA
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Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 71 Board Composition Skills and experience *data as at 31 December 2018 Board attendance Joint Audit/ - (1) During the year there were 11 Board meetings, of which nine were scheduled meetings and two were called at short notice. -...
CNA
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Governance I Directors’ and Corporate Governance Report Board of Directors Full biographies can be found at centrica.com/board Charles Berry Charles Berry 68 Centrica plc Annual Report and Accounts 2018 Chairman of the Board Audit Committee Margherita Della Valle Margherita Della Valle Disclosure Committee Nominations ...
CNA
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Governance | Directors and Corporate Governance Report – Other Statutory Information Significant agreements - change of control There are a number of agreements to which the Company is party that take effect, alter or terminate upon a change of control of the Company following a takeover bid. The significant agreements...
CNA
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S5. Hedge accounting The portion of the gain or loss on the hedging instrument which is effective is recognised directly in equity while any ineffectiveness is recognised in the Group Income Statement. The gains or losses that are initially recognised in the cash flow hedging reserve in the Group Statement of Comprehen...
CNA
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Strategic Report | Our Principal Risks and Uncertainties Evaluating risks through our Enterprise Risk Framework Assess & Analyse - · Assess inherent impact and likelihood using the Centrica risk assessment matrix - · Identify risk type (RRS, RRJ or External Risk) and determine target risk rating - · Identify mitigating...
CNA
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Description Potential impacts Mitigation People Risk that we are unable to attract and retain employees to ensure that the business has the appropriate capabilities to meet our strategic objectives. There is also a potential risk of industrial action as a large proportion of our field and office-based employees are rep...
CNA
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13. Property, plant and equipment (c) Assets held under finance leases and to which title was restricted included in above carrying amounts 2018 2017 Power generation £m Plant, equipment and vehicles £m Gas production and storage £m Total £m Plant, equipment and vehicles £m Power generation £m Gas production and storag...
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Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 19 Total recordable injury frequency rate (TRIFR) Safety is a top priority. Our TRIFR increased 4% per 200,000 hours worked, so we remain committed to securing an environment where an incident-free workplace is possible. Link to R...
CNA
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Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 Conclusions relating to going concern, principal risks and viability statement Going concern We have reviewed the directors' statement on page 112 to the Financial Statements about whether they considered it appropriate to adopt t...
CNA
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I. General information and principal accounting policies of the Company Leases The determination of whether an arrangement is, or contains, a lease is based on the substance of the arrangement and requires an assessment of whether the fulfilment of the arrangement is dependent on the use of a specific asset or assets a...
CNA
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Centrica plc Annual Report and Accounts 2018 Our 2030 Responsible Business Ambitions Helping you run your world in ever more sustainable ways Our ambition for Customers Delivering for our customers Through the latest innovations and a commitment to service, we're making our customers' lives easier Deliver solutions to ...
CNA
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Financial Statements I Independent Auditor’s Report Key audit matter description Presentation of the Group Income Statement The Group Income Statement set out on page 124 of the Annual Report & Accounts segregates Business performance from Exceptional items and certain re-measurements (the 'Middle column') in arriving ...
CNA
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Centrica plc Annual Report and Accounts 2018 UK Business North America Business Distributed Energy & Power Energy Marketing & Trading Central Power Generation UK Business North America Business Distributed Energy & Power Energy Marketing & Trading Central Power Generation (1) Restated for adoption of IFRS15: Revenue fr...
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Financial Statements | Notes to the Financial Statements 10. Earnings per ordinary share Basic to adjusted basic earnings per share reconciliation Year ended 31 December £m Earnings -- basic Net exceptional items after taxation (notes 2 and 7) (ii) 183 3.3 328 5.9 266 4.7 435 7.9 Dividends represent the return of profi...
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Independent Auditor's Report to the Directors of Centrica plc and its Licensees Use of this report This report is made solely to the Company's Directors, as a body, in accordance with our engagement letter dated 7 December 2018 and solely for the purpose of assisting the Directors in reporting on the CSS to the Regulat...
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Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 39 Operating cash flow (1) Net margin and cash collateral inflow includes the reversal of collateral amounts posted when the related derivative contract settles. assets, capacity/off-take contracts or downstream demand, which are ...
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Financial Statements | Notes to the Financial Statements Supplementary information (continued) S2. Summary of significant accounting policies Freehold land is not depreciated. Other PP&E, with the exception of upstream production assets (see above), are depreciated on a straight-line basis at rates sufficient to write...
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Strategic Report I Chairman’s statement Further information on all of these Board changes is set out in my Governance Statement and in the report of the Nomination Committee, both of which can be found in the Governance section of this Annual Report. We also announced in December that, after 22 years with the Company, ...
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S2. Summary of significant accounting policies Exchange adjustments arising from the retranslation of the opening net assets and results of non-sterling functional currency operations are transferred to the Group's foreign currency translation reserve, a separate component of equity, and are reported in the Statement ...
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Other Information Responsible Business - Performance Measures Non-financial key performance indicators (KPIs) We engaged PricewaterhouseCoopers LLP ('PwC') to undertake a limited assurance engagement using the International Standard on Assurance Engagements ('ISAE') 3000 (Revised): 'Assurance Engagements Other Than Aud...
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Strategic Report Centrica Consumer Here for you when you need us most Through the commitment of our people and digital transformation we are in a better position to meet our customers' needs. Protecting our customers during the 'Beast from the East' Thousands of our customers were hit by ferocious winter weather condit...
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Strategic Report Our Strategy In 2015 our Strategic Review was founded on an analysis of market trends and sources of growth, and the capabilities and efficiency necessary to pursue them profitably. To deliver for the changing needs of our customers To deliver long-term shareholder value through returns and growth To b...
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Satisfying the changing needs of our customers Annual Report and Accounts 2018
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Financial Statements | Notes to the Financial Statements 21. Provisions for other liabilities and charges Provisions are recognised when an obligation exists that can be reliably measured, but where there is uncertainty over the timing and/or amount of the payment. The main provisions relate to decommissioning costs fo...
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Financial Statements | Notes to the Financial Statements Supplementary information (continued) S10. Related undertakings (d) List of registered addresses Registered address key AdAddress A Millstream, Maidenhead Road, Windsor, SL4 5GD, United Kingdom (i) B 2323 32nd Avenue N.E., Suite 260, Calgary, AB T2E 6Z3, Canada ...
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S10. Related undertakings 31 December 2018 Principal activity Drips Limited Dormant United Kingdom / A Ordinary shares Dyno Developments Limited Dormant United Kingdom / A Ordinary shares Dyno-Plumbing Limited Dormant United Kingdom / A Ordinary shares 203 Country of incorporation/ registered address key (i) Class o...
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Governance I Directors’ and Corporate Governance Report Senior Executives Jill Shedden 72 Centrica plc Annual Report and Accounts 2018 Charles Cameron Director of Technology & Engineering and Centrica Innovations Charles was appointed Director of Technology & Engineering on 1 January 2016 and Chairman of Centrica Innov...
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S3. Financial risk management Maturity profiles Maturities of derivative financial instruments, provisions, borrowings and finance leases are provided in the following tables (all amounts are remaining contractual undiscounted cash flows): Due for payment 2018 Energy and interest derivatives in a loss position that wil...
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Governance I Directors’ and Corporate Governance Report Mark Hodges Chief Executive, Centrica Consumer Mark joined the Board on 1 June 2015 and will step down on 28 February 2019. Skills and experience Mark brings a strong understanding of the UK consumer market and a track record in improving business performance. He ...
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Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 69 Chris O'Shea Group Chief Financial Officer Chris was appointed Group Chief Financial Officer on 1 November 2018. Skills and experience Chris is an experienced listed company chief financial officer with considerable experience ...
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Financial Statements | Notes to the Financial Statements Supplementary information (continued) S2. Summary of significant accounting policies Nuclear activity The Group's investment in Lake Acquisitions Limited ('Nuclear') is accounted for as an associate. The following accounting policies are specific to this nuclea...
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20. Trade and other payables, and contract liabilities Trade and other payables include accruals and are principally amounts we owe to our suppliers. Financial deferred income represents monies received from customers in advance of the delivery of goods or services that may be returned to the customer if future deliver...
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Running Header I Running Header Financial Statements Contents 114 Independent Auditor's Report 124 Group Income Statement 125 Group Statement of Comprehensive Income 126 Group Statement of Changes in Equity 127 Group Balance Sheet 128 Group Cash Flow Statement 129 Notes to the Financial Statements 209 Company Financial...
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Financial Statements | Company Financial Statements Company Statement of f Changes in Equity Capital £m Share capital £m Share premium £m redemption reserve 1 January 2017 342 1,929 26 2,313 (140) 4,470 Profit for the year -- -- -- - -- 1,089 -- - -- - 1,089 6 28 16 (4) 35 198 (661) (42) 634 (2) 22 (10) 133 (26) 30 125...
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Financial Statements | Notes to the Financial Statements 5. Costs of operations This section details the types of costs the Group incurs and the number of employees in each of our operations. (a) Analysis of costs by nature 2018 2017 Cost of sales Operating costs Total costs (restated) (i) Year ended 31 December Transp...
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Governance Directors' Annual Remuneration Report Directors' remuneration in 2018 This report sets out information on the remuneration of the Directors for the financial year ended 31 December 2018. Single figure for total remuneration (audited) (1) Taxable benefits include car allowance, health and medical benefits and...
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S10. Related undertakings (b) Subsidiary undertakings -- partnerships held indirectly by Centrica plc with 100% voting rights 31 December 2018 Principal activity CF 2016 LLP CFCEPS LLP Country of incorporation/ registered address key (i) Class of shares held Group financing United Kingdom / A Membership interest Group...
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Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 239 Climate change - † Included in PwC's limited assurance scope referred to on page 238. - (i) Comprises Scope 1 and Scope 2 emissions as defined by the Greenhouse Gas Protocol. - (ii) Assured by PwC for the 2017 Annual Report. S...
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Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 97 Long-term incentive awards due to vest in 2019 Performance conditions The performance conditions relating to the three-year period ending in 2018 are set out below, together with an explanation of the achievement against these ...
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Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 All components except for North America Home, North America Business and Ireland are audited from the United Kingdom and hence we oversee these component audits through regular meetings and direct supervision. For the overseas com...
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Financial Statements | Notes to the Financial Statements Supplementary information (continued) S7. Fixed-fee service and insurance contracts This section includes fixed-fee service (FFS) and insurance contract disclosures for services related to UK Home and North America Home. FFS contracts in North America are entere...
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Financial Statements | Company Financial Statements Notes to the Company Financial Statements (continued) II. Other equity Cash flow hedging reserve £m AcActuarial gains and losses reserve £m (95) 28 (180) 107 (140) 1 January 2017 Year ended 31 December Wages and salaries (20) (58) Social security costs Pension and ot...
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Financial Statements | Notes to the Financial Statements 7. Exceptional items and certain re-measurements Exceptional items are those items that, in the judgement of the Directors, need to be disclosed separately by virtue of their nature, size or incidence. Items which may be considered exceptional in nature include d...
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Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 Executive Director recruitment and terminations announced in 2018 Chris O'Shea Chris O'Shea joined Centrica on 10 September and was appointed to the Board on 1 November 2018. His remuneration package consists of base salary, benef...
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Financial Statements | Notes to the Financial Statements 1. Summary of significant new accounting policies and reporting changes IFRS 17: 'Insurance contracts' was issued in May 2017. Assuming it is endorsed by the EU, this new standard will not be effective before 1 January 2021 (a proposal has been made to postpone t...
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Governance Audit Committee Margherita Della Valle Committee Chairman Dear Shareholder On behalf of the Board, I am pleased to present the Audit Committee's report for the year ended 31 December 2018. I hope that you find the report which follows an interesting explanation of our work during the year. This report aims t...
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Financial Statements | Notes to the Financial Statements Supplementary information (continued) S3. Financial risk management The Group sets volumetric and VaR limits to manage the commodity price risk exposure associated with the Group's proprietary energy trading activities. VaR measures the estimated potential loss ...
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Strategic Report | Business Review Energy Marketing & Trading The performance of our core Energy Marketing & Trading (EM&T) activities was strong in 2018, as we utilised our enhanced capabilities and asset positions to deliver a strong trading performance across North West Europe, particularly during periods of high ma...
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Financial Statements I Independent Auditor’s Report Extent to which the audit was considered capable of detecting irregularities, including fraud We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive ...
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Governance I Directors’ and Corporate Governance Report Directors' and Corporate Governance Report Board meetings The Board held 11 meetings in 2018, seven of which were in person and four by scheduled telephone conferences. Each year the Board seeks to combine one or two meetings with visits to the Group's operations ...
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Strategic Report Group Financial Review 36 Centrica plc Annual Report and Accounts 2018 " I In addition to the interim dividend of 3.6p per share, the proposed final dividend is 8.4p, giving a total full year dividend of 12.0p (2017: 12.0p)." Chris O'Shea Group Chief Financial Officer Group Revenue £29.7bn 2017: £28.0b...
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Strategic Report Our Stakeholder Engagement Engaging with stakeholders is fundamental to our business success. By listening to and collaborating with stakeholders, we can grow our business and deliver for our customers and society over the long term. Customers Listening to customers enables us to provide products and s...
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Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 The price cap on default energy tariffs in the UK came into effect on 1 January 2019. We regret that we were unable to persuade the Government and regulator not to implement the cap which we do not believe is a sustainable solutio...
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Financial Statements | Company Financial Statements Notes to the Company Financial Statements (continued) VIII. Trade and other receivables 31 December Amounts owed by Group undertakings 13,414 39 11,476 1,067 Prepayments 8 5 58 IX. Derivative financial instruments 2018 2017 undertakings are interest-free. All amounts...
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Group Balance Sheet Non-current assets Property, plant and equipment Notes 13 31 December 2018 £m 31 December 2017 (restated) (i) £m 4,124 4,132 1,699 1,676 2,650 568 97 463 231 11,516 4,669 409 927 289 5 2,864 9,163 20,679 (733) (5,418) (336) (264) (707) (7,458) (174) (287) (167) (2,684) (886) (5,591) (9,789) (17,247)...
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Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 Centrica plc Annual Report and Accounts 2018 59 Satisfy our customers with excellent service We are investing in digital capabilities th...
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23. Commitments and contingencies (b) Guarantees and indemnities This section discloses any guarantees and indemnities that the Group has given, where we may have to provide security in the future against existing and future obligations that will remain for a specific period. In connection with the Group's energy tradi...
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