Virgin Media 2008 Annual Report Download - page 164

VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in millions, except share data)
December 31,
2008 2007
Assets
Current assets
Cash and cash equivalents ........................................... £ 170.7 £ 310.0
Restricted cash ................................................... 5.3 5.4
Accounts receivable—trade, less allowances for doubtful accounts of £16.5 (2008) and
£17.1 (2007) ................................................... 456.8 451.0
Inventory for resale ............................................... 19.9 20.0
Programming inventory ............................................. 68.4 55.4
Derivative financial instruments ....................................... 168.4 4.1
Prepaid expenses and other current assets ................................ 109.3 90.3
Total current assets .............................................. 998.8 936.2
Fixed assets, net ................................................... 5,215.0 5,510.3
Goodwill and other indefinite-lived assets .................................. 2,091.4 2,495.3
Intangible assets, net ................................................ 510.3 814.3
Equity investments .................................................. 353.5 368.7
Derivative financial instruments ......................................... 435.7 60.1
Other assets, net of accumulated amortization of £78.0 (2008) and £45.0 (2007) ........ 140.7 123.5
Due from group companies ............................................ 795.0 637.4
Total assets ...................................................... £10,540.4 £10,945.8
Liabilities and shareholders’ equity
Current liabilities
Accounts payable ................................................. £ 396.6 £ 372.9
Accrued expenses and other current liabilities .............................. 417.4 407.4
Derivative financial instruments ....................................... 84.4 —
VAT and employee taxes payable ...................................... 57.4 81.2
Restructuring liabilities ............................................. 69.5 84.8
Interest payable .................................................. 95.9 148.2
Interest payable to group companies .................................... 113.7 77.6
Deferred revenue ................................................. 259.5 240.3
Current portion of long term debt ..................................... 40.5 29.1
Total current liabilities ............................................ 1,534.9 1,441.5
Long term debt, net of current portion .................................... 4,327.6 4,897.4
Long term debt due to group companies ................................... 2,468.1 1,367.1
Derivative financial instruments ......................................... 42.6 122.3
Deferred revenue and other long term liabilities ............................. 146.5 114.8
Deferred income taxes ............................................... 79.2 81.0
Total liabilities .................................................... 8,598.9 8,024.1
Commitments and contingent liabilities
Minority interest ................................................... 0.7 —
Shareholders’ equity
Common stock—£0.001 par value; authorized 1,000,000 ordinary shares (2008 and 2007);
issued and outstanding 224,552 ordinary shares (2008 and 2007) ................ — —
Additional paid-in capital ........................................... 4,371.3 4,371.3
Accumulated other comprehensive income ................................ 9.0 17.2
Accumulated deficit ............................................... (2,439.5) (1,466.8)
Total shareholders’ equity .......................................... 1,940.8 2,921.7
Total liabilities and shareholders’ equity ................................... £10,540.4 £10,945.8
See accompanying notes.
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