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During the year the Group acquired a number of small businesses as summarised below.

	Total £m
Intangible assets – software and other	11
Property, plant and equipment	18
Inventory	16
Trade and other receivables	16
Short-term deposits	2
Cash at bank and in hand	1
Trade and other payables	(43)
Borrowings – current liabilities	(6)
Deferred tax liabilities	(5)
Provisions	(1)
Net assets acquired	9
Goodwill arising	41
	50
Additions to investments in joint ventures1	31
	81
Represented by:
Net cash out flowper cash flow statement	82
Net non-cash consideration	(1)
	81

¹ As part of the transaction to conclude the joint venture with Goodrich Corporation to develop and manufacture engine controls, the Group also paid US$100m in cash and assumed a liability of £24m in respect of foreign exchange contracts. These amounts, totalling £93m, have been included in intangible asset additions in the year (note 8).

There were no significant fair value adjustments in respect of the net assets acquired.

During the year the Group disposed of its interests in a number of small businesses, as summarised below.

	Total £m
Intangible assets – goodwill	2
Property, plant and equipment	2
Inventory	5
Trade and other receivables	11
Trade and other payables	(9)
Provisions	(2)
	9
Disposals of investments in joint ventures	30
Net assets	39
Profit on sale or termination of businesses	7
	46
Analysed as:
Receipts outstanding at December 31, 2008	10
Net cash inflow per cash flow statement	36
	46