BT 2003 Annual Report Download - page 161

Index
160 BT Annual Report and Form 20-F 2003
Accounting and presentation changes 85
Accounting policies 47–48, 76–78
Additional information for shareholders 141–155
Auditors’ remuneration 121
Auditors’ report to shareholders 74
Background 142–143
Balance sheet 27, 45, 84, 126
Broadband 1, 2, 5, 6, 7, 8, 9, 11, 12, 14–15, 32–33, 34, 51,
140, 142
BT Deferred Bonus Plan 59, 71, 107, 119–120
BT Exact 16–17
BT Executive Share Plan 60–61, 107, 119–120
BT Global Services 6, 15–16, 34–35, 86
BT Ignite 15
BT Incentive Share Plan 60, 107, 119–120
BT Openworld 9, 12, 13, 86
BT Retention Share Plan 60, 107, 119–120
BT Retail 11–13, 31–33, 86
BT Wholesale 6, 13–15, 33–34, 86
Business practice, statement of 56
Business review 8–23
Call volume growth 32, 139
Capital expenditure 3, 7, 27, 31, 33, 34, 35, 44, 83, 87,
105, 138
Capital gains tax 143
Cash flow statement 27, 42, 83
Cautionary statement 142
Chairman’s message 4–5
Chief Executive’s statement 6–7
Commitment to society 24–25
Community 24, 25
Competition and the UK economy 46
Concert global venture 9, 10, 16, 28, 30, 37, 38, 91–92,
99–100, 142, 151–152
Contact details 155
Contingent liabilities 111
Corporate governance 53–57
Corporate identity 7, 8
Creditors 52, 84, 109
Cross reference to Form 20-F 157–159
Customer satisfaction 2, 6, 9, 14
Debtors 77, 84, 107
Demerger 9, 28, 33, 37, 44, 60, 80, 85, 86–87, 91–93, 97,
103, 104, 110, 111, 117, 122, 142–143, 151
Depreciation 31, 36, 77, 86–87, 91–93, 105
Disposals 4, 5, 9–10, 28, 38–39, 94–95
Directors 50–51
Emoluments 116
Interests in shares 63–64, 68–71
Proposed for election or re-election at AGM 52
Remuneration, report on 58–72
Report 52
Responsibility statement 73
Disclosure committee 56–57
Dividend investment plan 145
Dividends 3, 4, 10, 26, 41, 79–81, 97, 109, 110, 126,
144–145, 148
Earnings (loss) per share 3, 4, 26, 29, 30, 41, 79–81, 97–98,
138
Economic and Monetary Union 48
Electronic communication 155
Employee share schemes 117–120
Employees 17–18, 33, 35, 117, 139
Environment 24, 25, 46, 154
Exchange controls 154
Exchange lines 1, 11, 32, 46, 139, 140
Financial calendar 154
Financial commitments 111
Financial headlines 3
Financial instruments 78, 121–125
Financial ratios 138
Financial review 28–49
Financial statistics 138
Financing 41–42
Five-year financial summary 26–27
Foreign currencies 43, 76, 91–93, 122, 125
Going concern 43, 73
Goodwill 26, 29, 30, 76, 91–93, 104, 106, 128
Glossary of terms and US equivalents 156
Group strategy 8–9
Intangible assets 76, 77, 84, 91–93, 104, 128
Interest 26, 29, 40, 76, 79–81, 83, 95, 108, 122
Internal control and risk management 55
Internet 1, 6, 8, 11, 12, 13, 32, 35, 140
Investments 27, 39, 77, 84, 94–95, 106–107, 108
Joint ventures and associates 26, 37–38, 86, 87, 89, 90, 94,
101–102, 106–107, 111, 135
Legal proceedings 23, 111
Licence 18–23
Listings 143
Loans and other borrowings 27, 84, 108–109
Management Council 53, 54, 55
Management of liquid resources 83, 99
Material contracts 150–152
Memorandum and Articles of Association 147–150
Minority interests 26, 27, 29, 79–81, 84, 97, 131
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9, 28, 33, 37, 44, 60, 80, 85, 86, 87, 91–93, 97, 103,
104, 110, 111, 117, 122, 142, 144, 151
Mobile communications 9, 12
Net debt 3, 4, 9, 10, 27, 40, 83, 104, 121, 122
New wave 4, 11–13, 32
Other operating income 26, 29, 35, 79–81, 90
Operating Committee 50, 51, 53–54, 59, 72
Operating costs 3, 26, 29, 35–37, 79–81, 91–93
Operating profit (loss) 3, 26, 29, 30, 37, 38, 79–81
Operational statistics 139
Optical fibre 13
Pensions 4, 10, 17, 45–46, 56, 77–78, 91–93, 112–116, 128,
132–133, 140
Price control 18, 21–23, 46
Profit (loss) after tax 3, 26, 29, 79–81
Profit (loss) before tax 3, 26, 29, 40–41, 79–81
Profit and loss account 26, 29, 79–81
Provisions for liabilities and charges 27, 84, 109
Publications 154
Quarterly analysis of turnover and profit 136–137
Reconciliation of movement in shareholders’ funds 110
Reconciliation of operating profit (loss) to operating cash flows 99
Redundancy costs 77, 91–93
Regulation, competition and prices 18, 46
Research and development 16–17, 76, 91–93, 138
Restructuring 9, 10, 28, 38–39, 85, 142–143
Return on capital employed 45, 138
Rights issue 9, 28, 110, 119
Risk factors 140
Risk management 121–125
Sarbanes-Oxley Act 54, 55, 56–57
Segmental analysis 86–89
Share and ADS prices 143
Share capital 27, 84, 110, 126
Share option schemes 110, 117–120
Shareholder communication 155
Shareholdings analysis 144
Staff costs 34, 36, 91–93
Statement of total recognised gains and losses 82
Stocks 77, 84
Strategy statement 2
Subsidiary undertakings 76, 77, 94–95, 99–103, 111, 135
Substantial shareholdings 52
Suppliers payment policy 52
Tangible fixed assets 77, 84, 105
Taxation 26, 29, 41, 78, 96, 109, 129
Taxation (US Holders) 152–154
Total shareholder return 60, 64, 68, 69, 70, 120, 146
Treasury policy 43
Turnover 3, 10, 26, 29, 30, 76, 79–81, 86–90
US GAAP 27, 48–49, 127–134
Viag Interkom 10, 28, 44, 91, 93, 101
Yell 10, 28, 85, 94, 103, 150