2. Proportionate Consolidation of Joint Ventures The Group’s share of its joint ventures for the years ended 31 December 2012 and 2011 which are proportionately  consolidated in the Consolidated Financial Statements, are as follows: *  As defined in note 21. A listing of the principal joint ventures is contained on page 134. In May 2012, CRH disposed of its Portuguese joint venture Secil (see note 5 (i)). CRH 85 Contracted for but not provided in the financial statements 7 9 Authorised by the Directors but not contracted for 1 110 Future purchase commitments for property, plant and equipment Impact on Consolidated Balance Sheet Group share of: Non-current assets  658   1,302  Current assets  191   306  Total assets  849   1,608  Total equity  587   1,051  Non-current liabilities  165   371  Current liabilities  97   186  Total liabilities  262   557  Total equity and liabilities 849  1,608  Net debt* included above (55) (148) Analysis of net debt Liquid investments and cash and cash equivalents  52   77  Derivative financial instruments  - (1) Interest-bearing loans and borrowings (amounts due to CRH) (63) (71) Interest-bearing loans and borrowings (amounts due to others) (44) (153) Analysis of net debt included above (55) (148) Impact on Consolidated Income Statement 2012 2011 €m €m Group share of: Revenue  575   707  Cost of sales (401) (482) Gross profit  174   225  Operating costs (134) (165) Operating profit  40   60  Profit on disposals  -  2  Profit before finance costs  40   62  Finance costs (net) (2) (6) Profit before tax  38   56  Income tax expense (10) (11) Group profit for the financial year  28   45  Depreciation  37   53 