Carphone Warehouse 2008 Annual Report Download - page 69

Download and view the complete annual report

Please find page 69 of the 2008 Carphone Warehouse annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 94

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94

www.cpwplc.com 57
12 Goodwill and other intangible fixed assets
Restated
2008 2007
£m £m
Opening net book value 626.5 568.6
Acquisition of subsidiaries (see note 14) 11.2 78.5
Adjustments to contingent consideration 4.0 (8.9)
Adjustments to fair value –(2.4)
Disposals (see note 14) (14.1) –
Goodwill expense (1.0) (0.5)
Foreign exchange 50.9 (8.8)
Closing net book value 677.5 626.5
Closing
Cost (gross carrying amount) 681.8 629.8
Accumulated goodwill expense (4.3) (3.3)
Net carrying amount 677.5 626.5
As explained in note 14, adjustments have been made during the period to the goodwill arising on the acquisition of AOL’s UK internet access business
in December 2006. In accordance with IFRS3 ‘Business Combinations’, prior period balances have been restated to reflect this.
A goodwill expense of £1.0m (2007 – £0.5m) has been recognised in the period in relation to historical acquisitions.
Goodwill has been allocated to cash-generating units (“CGUs”) which are generally based on geographical location. The carrying amount of goodwill by
geographical location is as follows:
2008 2007
£m £m
UK Fixed Line 299.1 294.6
UK Distribution 39.3 34.0
France 95.5 88.6
Germany 82.9 71.1
Spain 68.8 45.6
Other 91.9 92.6
Total goodwill 677.5 626.5
Financial Statements