Virgin Media 2008 Annual Report Download - page 97

VIRGIN MEDIA INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in millions, except par value)
December 31,
2008 2007
Assets
Current assets
Cash and cash equivalents ........................................... £ 181.6 £ 321.4
Restricted cash ................................................... 6.1 6.1
Accounts receivable—trade, less allowances for doubtful accounts of £16.5 (2008) and
£19.5 (2007) ................................................... 456.8 455.6
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 ................................ 113.1 90.7
Total current assets .............................................. 1,014.3 953.3
Fixed assets, net ................................................... 5,347.8 5,655.6
Goodwill and other indefinite-lived assets .................................. 2,082.3 2,488.2
Intangible assets, net ................................................ 510.3 816.7
Equity investments .................................................. 353.5 368.7
Derivative financial instruments ......................................... 435.7 60.1
Other assets, net of accumulated amortization of £79.1 (2008) and £45.0 (2007) ........ 153.9 123.5
Total assets ....................................................... £9,897.8 £10,466.1
Liabilities and shareholders’ equity
Current liabilities
Accounts payable ................................................. £ 397.0 £ 372.9
Accrued expenses and other current liabilities .............................. 424.0 406.2
Derivative financial instruments ....................................... 84.4 —
VAT and employee taxes payable ...................................... 63.5 86.1
Restructuring liabilities ............................................. 71.0 89.6
Interest payable .................................................. 131.6 172.5
Deferred revenue ................................................. 268.1 250.3
Current portion of long term debt ...................................... 40.5 29.1
Total current liabilities ............................................ 1,480.1 1,406.7
Long term debt, net of current portion .................................... 6,267.7 5,929.4
Derivative financial instruments ......................................... 42.6 122.3
Deferred revenue and other long term liabilities .............................. 149.4 116.2
Deferred income taxes ............................................... 79.2 81.0
Total liabilities ..................................................... 8,019.0 7,655.6
Commitments and contingent liabilities
Minority interest ................................................... 0.7 —
Shareholders’ equity
Common stock—$0.01 par value; authorized 1,000.0 (2008 and 2007) shares; issued
329.0 (2008) and 328.9 (2007) and outstanding 328.1 (2008) and 327.5 (2007) shares . . 1.8 1.8
Additional paid-in capital ............................................ 4,353.1 4,335.9
Accumulated other comprehensive income ................................ 142.1 148.6
Accumulated deficit ............................................... (2,618.9) (1,675.8)
Total shareholders’ equity .......................................... 1,878.1 2,810.5
Total liabilities and shareholders’ equity ................................... £9,897.8 £10,466.1
See accompanying notes.
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