Virgin Media 2007 Annual Report Download - page 89

VIRGIN MEDIA INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in millions, except par value)
December 31,
2007 2006
Assets
Current assets
Cash and cash equivalents ...................................... £ 321.4 £ 418.5
Restricted cash .............................................. 6.1 6.0
Accounts receivable—trade, less allowance for doubtful accounts of £19.5
(2007) and £51.8 (2006) ...................................... 455.6 461.2
Inventory .................................................. 75.4 65.3
Prepaid expenses and other current assets .......................... 94.8 87.4
Total current assets ......................................... 953.3 1,038.4
Fixed assets, net ............................................... 5,655.6 6,026.3
Goodwill and other indefinite-lived intangible assets ..................... 2,488.2 2,516.5
Intangible assets, net ........................................... 816.7 1,120.5
Equity investments ............................................. 368.7 371.5
Other assets, net of accumulated amortization of £45.0 (2007) and £21.8 (2006) . 183.6 170.3
Total assets .................................................. £10,466.1 £11,243.5
Liabilities and shareholders’ equity
Current liabilities
Accounts payable ............................................ £ 372.9 £ 379.6
Accrued expenses and other current liabilities ....................... 406.2 485.5
VAT and employee taxes payable ................................. 86.1 82.8
Restructuring liabilities ........................................ 89.6 126.8
Interest payable ............................................. 172.5 158.2
Deferred revenue ............................................ 250.3 268.0
Current portion of long term debt ................................ 29.1 141.9
Total current liabilities ....................................... 1,406.7 1,642.8
Long term debt, net of current portion .............................. 5,929.4 6,017.2
Deferred revenue and other long term liabilities ....................... 238.5 276.2
Deferred income taxes .......................................... 81.0 77.2
Total liabilities ................................................ 7,655.6 8,013.4
Commitments and contingent liabilities
Shareholders’ equity
Common stock—$.01 par value; authorized 1,000.0 shares (2007 and 2006);
issued 328.9 (2007) and 326.4 (2006) and outstanding 327.5 (2007) and
323.9 (2006) shares ......................................... 1.8 1.8
Additional paid-in capital ...................................... 4,335.9 4,303.4
Accumulated other comprehensive income .......................... 148.6 116.0
Accumulated deficit .......................................... (1,675.8) (1,191.1)
Total shareholders’ equity .................................... 2,810.5 3,230.1
Total liabilities and shareholders’ equity ............................. £10,466.1 £11,243.5
See accompanying notes.
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