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Annual Report & Accounts 2014 - NOTES
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for arrangements with multiple performance obligations, variable pricing, customer refund rights, supplier repurchase options, and other common complexities. iFRs 15 is effective for reporting periods beginning on or after 1 January 2017. the group's management have not yet assessed the impact of iFRs 15 on these consolidated financial statements. 1.22.3 Amendments to iFRs 11 Joint Arrangements these amendments provide guidance on the accounting for acquisitions of interests in joint operations constituting a business. the amendments require all such transactions to be accounted for using the principles on business combinations accounting in iFRs 3 'Business combinations' and other iFRss except where those principles conflict with iFRs 11. Acquisitions of interests in joint ventures are not impacted by this new guidance. the amendments are effective for reporting periods beginning on or after 1 January 2016. the group's management have yet to assess the impact of iFRs 11 on these consolidated financial statements. 1.23 Restatements the group has restated the consolidated statement of cashflows for the year ended 31 December 2013. the non-interest bearing loan from William hill is now reflected in financing activities rather than investing activities. this has revised net cash from investing activities in 2013 to €58,369,000 from the previously stated €66,389,000 and net cash from financing activities to €(38,049,000) from the previously stated €(46,069,000). the group has restated the consolidated income statement to reflect income from customers previously netted-off with cost of sales, the impact of which is shown in the table below: original Restatements Restated year ended 31 December 2013 €000's €000's €000's Revenue 168,407 1,552 169,969 cost of sales (65,776) (1,552) (67,328) contribution 102,631 - 102,631 2. seGmental RepoRtinG management follows one business line with two operating segments, being sports and gaming segmenting the revenues. these operating segments are monitored and strategic decisions are made on the basis of overall operating results. management also monitors revenue by geographic location of its customers, monitoring performance in europe and Latin America. 2.1 Geographical analysis the group's revenues and other income from external customers are divided into the following geographic areas: 2014 2013 €000's €000's europe 197,442 148,010 Latin America and emerging markets 27,359 21,949 total 224,801 169,959 the total non-current assets (other than financial instruments, investments accounted for using the equity method, deferred tax assets and post-employment benefit assets) located in europe is €148,454,000 (2013: €146,381,000) and the total located in other regions is €10,754,000 (2013: €8,387,000). GVC HOLDINGS PLC ANNUAL REPORT 2014 37 notes to the consolidated financial statements