Virgin Media 2007 Annual Report Download - page 57
Download and view the complete annual report
Please find page 57 of the 2007 Virgin Media 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.-
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
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
 |
 |
The following table summarizes our historical restructuring accruals (in millions):
Involuntary
Employee
Termination Lease
and Related Exit
Historical Restructuring Accruals Costs Costs Total
Balance, January 1, 2007 .................................... £ — £43.4 £ 43.4
Revisions ............................................... — (0.1) (0.1)
Charged to expense ........................................ — 3.6 3.6
Utilized ................................................ — (11.0) (11.0)
Balance, December 31, 2007 ................................. £ — £35.9 £ 35.9
The following table summarizes our restructuring accruals resulting primarily from the reverse
acquisition of Telewest (in millions):
Involuntary
Employee
Termination Lease
and Related Exit
Acquisition Restructuring Accruals Costs Costs Total
Balance, January 1, 2007 .................................... £18.7 £ 64.7 £ 83.4
Amendments offset against goodwill ............................ — (11.3) (11.3)
Revisions ............................................... — (8.2) (8.2)
Charged to expense ........................................ 27.9 5.5 33.4
Utilized ................................................ (34.0) (9.6) (43.6)
Balance, December 31, 2007 ................................. £12.6 £ 41.1 £ 53.7
Depreciation expense
For the year ended December 31, 2007, depreciation expense increased to £924.9 million from
£799.1 million for the same period in 2006. This increase was primarily attributable to the reverse
acquisition of Telewest and the acquisition of Virgin Mobile, together with purchases of new fixed
assets during the year and the effect of a full year of depreciation expense in 2007 for assets placed in
service in 2006.
Amortization expense
For the year ended December 31, 2007, amortization expense increased to £313.3 million from
£246.6 million for the same period in 2006. The increase in amortization expense related to additional
intangible assets arising from the reverse acquisition of Telewest and from the acquisition of Virgin
Mobile.
Interest income and other, net
For the year ended December 31, 2007, interest income and other decreased to £19.5 million from
£34.7 million for the year ended December 31, 2006 primarily as a result of increased losses on
disposals of fixed assets and a decline in interest income due to lower average cash balances, partially
offset by a gain on disposal of investments. In 2007, interest income and other included gains on
disposal of investments totaling £8.1 million, offset by losses on disposal of fixed assets totaling
£18.8 million.
55