Virgin Media 2007 Annual Report Download - page 123
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VIRGIN MEDIA INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
13. Employee Benefit Plans (Continued)
summarizes the incremental effects of the FAS 158 adoption on the individual line items in our balance
sheet at December 31, 2006 (in millions):
Pre Post
FAS 158 FAS 158 FAS 158
Adoption Adjustment Adoption
Deferred revenue and other long term liabilities ................. £32.3 £9.4 £41.7
Accumulated other comprehensive income ...................... 10.6 9.4 20.0
Obligations and Funded Status
The change in projected benefit obligation was as follows (in millions):
Year ended
December 31,
2007 2006
Benefit obligation at beginning of year .................................. £339.8 £334.0
Service cost ...................................................... 2.4 2.5
Interest cost ...................................................... 16.7 15.8
Members’ contributions ............................................. 0.4 0.6
Actuarial gains .................................................... (24.5) (5.4)
Benefits paid ..................................................... (11.1) (8.7)
Plan settlements ................................................... 0.2 1.0
Benefit obligation at end of year ....................................... £323.9 £339.8
The change in plan assets was as follows (in millions):
Year ended
December 31,
2007 2006
Fair value of plan assets at beginning of year .............................. £298.1 £286.5
Actual return on plan assets .......................................... 14.3 17.7
Employer contributions .............................................. 16.9 2.0
Employee contributions ............................................. 0.4 0.6
Benefits paid ..................................................... (11.1) (8.7)
Fair value of plan assets at end of year .................................. £318.6 £298.1
F-37