Virgin Media 2009 Annual Report Download - page 181

VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 5—Fixed Assets (Including Leases) (Continued)
Future minimum annual payments under capital and operating leases at December 31, 2009 are as
follows (in millions). The table reflects our contractual obligations.
Capital Operating
Leases Leases
Year ending December 31:
2010 ............................................. £ 51.2 £ 60.1
2011 ............................................. 65.2 61.3
2012 ............................................. 36.6 51.7
2013 ............................................. 12.3 41.1
2014 ............................................. 4.1 29.1
Thereafter ........................................ 80.1 81.0
Total minimum lease payments .......................... 249.5 £324.3
Less: amount representing interest ....................... (82.9)
Present value of net minimum obligations .................. 166.6
Less: current portion ................................. (40.6)
£126.0
Total rental expense for the years ended December 31, 2009, 2008 and 2007 under operating leases
was £59.5 million, £42.8 million and £49.9 million, respectively.
During 2009 and 2008, the changes in the asset retirement obligations related to customer
premises equipment were as follows (in millions):
2009 2008
Asset retirement obligation at the beginning of the year .......... £56.6 £57.8
Assets acquired ...................................... 12.4 14.8
Liabilities settled ..................................... (3.7) (7.7)
Accretion expense .................................... 4.4 4.5
Revisions in cash flow estimates .......................... (24.2) (12.8)
Asset retirement obligation at the end of the year ............... £45.5 £56.6
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