BT 2014 Annual Report Download - page 193
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190 Additional information
Financial ratios
Year ended 31 March 2014
2013
Restated
2012
a Restated
2011
a Restated
2010
a Restated
a
Return on capital employedb
Adjustedc – % 22.9 22.1 20.4 18.5 16.1
Reported – % 21.1 20.6 19.3 16.7 13.3
Interest coverd
Adjustedc – times 5.8 5.1 4.5 3.4 2.9
Reported – times 3.8 3.8 3.7 2.0 1.9
Net debt to adjusted EBITDAc – times 1.1 1.3 1.5 1.5 1.7
Capital expendituree as a percentage of revenuec – % 12.8 13.3 13.4 12.8 12.1
a Restated, see note 1 to the consolidated Ƭnancial statements.
b The ratio is based on proƬt before taxation and net Ƭnance expense to capital employed. Capital employed is represented by total assets less current liabilities (excluding corporation tax, current borrowings,
derivative Ƭnancial liabilities and Ƭnance lease creditors) less deferred and current tax assets, retirement beneƬt asset, cash and cash eTuivalents, derivative Ƭnancial assets and investments.
c Before speciƬc items.
d The number of times net Ƭnance expense is covered by operating proƬt.
e Before purchases of telecommunications licences.