Virgin Media 2006 Annual Report Download - page 161

VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
7. Leases (Continued)
Future minimum annual payments at December 31, 2006 are as follows (in millions). The table reflects our contractual
obligations.
Capital
Leases Operating Leases
Year ended December 31:
2007 £ 29.9 £ 53.1
2008 25.9 48.1
2009 12.0 38.2
2010 6.1 36.8
2011 23.2 32.8
Thereafter 91.6 185.8
Total minimum lease payments 188.7 £ 394.8
Less: amount representing interest (84.3)
Present value of net minimum obligations 104.4
Less: current portion (22.1)
£ 82.3
Leases for buildings, offices space and equipment extend through 2034. Total rental expense for the years ended December 31,
2006, 2005, and 2004 under operating leases was £102.3 million, £56.4 million and £66.1 million, respectively.
8. Goodwill and Intangible Assets
Goodwill and intangible assets consist of (in millions):
Estimated December 31,
Useful Life 2006 2005
Goodwill and intangible assets not subject to amortization:
Goodwill £ 2,351.7 £ —
Reorganization value in excess of amounts allocable to identifiable assets 153.2 197.9
Trade names 16.5 —
2,521.4 197.9
Intangible assets subject to amortization:
Cost
Contractual relationships 2−3 years £ 6.0 £ 2.8
Trade names and licenses 1−9 years 50.7 3.2
Customer lists 4−8 years 1,560.7 519.4
Software and other intangible assets 1−5 years 22.1 —
1,639.5 525.4
F−82
Source: VIRGIN MEDIA INVESTM, 10−K, March 01, 2007