Virgin Media 2008 Annual Report Download - page 195
Download and view the complete annual report
Please find page 195 of the 2008 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
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
 |
 |
VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 11—Employee Benefit Plans (Continued)
Obligations and Funded Status
The change in projected benefit obligation was as follows (in millions):
Year ended
December 31,
2008 2007
Benefit obligation at beginning of year ..................... £323.9 £336.9
Service cost ......................................... 1.4 2.4
Interest cost ........................................ 18.3 16.7
Members’ contributions ................................ 0.4 0.4
Plan amendments .................................... 0.1 —
Transfer of liability .................................... — 2.9
Actuarial gains ...................................... (24.9) (24.5)
Benefits paid ........................................ (11.4) (11.1)
Plan settlements ..................................... — 0.2
Benefit obligation at end of year ......................... £307.8 £323.9
The change in plan assets was as follows (in millions):
Year ended
December 31,
2008 2007
Fair value of plan assets at beginning of year ................. £318.6 £296.0
Actual return on plan assets ............................. (47.2) 14.3
Employer contributions ................................ 13.5 16.9
Employee contributions ................................ 0.4 0.4
Transfer of assets ..................................... — 2.1
Benefits paid ........................................ (11.4) (11.1)
Fair value of plan assets at end of year ..................... £273.9 £318.6
The funded status as of December 31, 2008 and 2007 was as follows (in millions):
Year ended
December 31,
2008 2007
Projected benefit obligation ............................. £307.8 £323.9
Plan assets ......................................... 273.9 318.6
Funded status ....................................... (33.9) (5.3)
Current liability ...................................... — —
Non-current liability ................................... £(33.9) £ (5.3)
The accumulated benefit obligation for all defined benefit plans was £301.4 million and
£314.1 million at December 31, 2008 and 2007, respectively.
F-101