Virgin Media 2006 Annual Report Download - page 162

VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
8. Goodwill and Intangible Assets (Continued)
December 31,
2006 2005
Accumulated amortization
Contractual relationships 1.1 2.8
Trade names and licenses 10.4 0.8
Customer lists 512.1 289.6
Software and other intangible assets 5.6 —
529.2 293.2
£ 1,110.3 £ 232.2
Estimated aggregate amortization expense for each of the five succeeding fiscal years from December 31, 2006 is as follows:
£300.4 million in 2007, £222.7 million in 2008, £191.7 million in 2009, £148.7 million in 2010 and £80.4 million in 2011.
During the year, reorganization value in excess of amounts allocable to identifiable assets was reduced by £44.7 million due to
the use of deferred tax assets that existed at January 10, 2003, that were previously offset by a valuation allowance.
9. Investments
Virgin Media, through its wholly owned subsidiary Flextech Broadband Limited, owns a 50% equity investment in the UKTV
joint venture companies. This investment is accounted for under the equity method at December 31, 2006. The UKTV joint venture
companies operate a portfolio of channels under the UKTV brand. This equity investment was acquired as part of the acquisition of
Telewest on March 3, 2006. In accordance with the joint venture agreements between Flextech Broadband Limited and BBC
Worldwide, we recognize 100% of losses for those companies which represent UKTV.
At December 31,
2006
Investments are comprised as follows (in millions):
Loans and redeemable preference shares £ 159.3
Share of net assets 212.2
F−83
Source: VIRGIN MEDIA INVESTM, 10−K, March 01, 2007