Virgin Media 2010 Annual Report Download - page 165

VIRGIN MEDIA INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
Note 21—Subsequent Events
Senior Credit Facility Amendment
On February 15, 2011, we amended our senior credit facility to increase operational flexibility including,
among other things, changing the required level of total net leverage ratio, increasing financial indebtedness
baskets, and eliminating certain restrictions on the use of proceeds of secured indebtedness. This amendment did
not have an impact on the amount of debt included on our consolidated balance sheet as of December 31, 2010
but did serve to modify the amortization schedule by extending £192.5 million of our June 30, 2014 scheduled
amortization payment to June 30, 2015.
Condensed Consolidating Financial Information—Senior Secured Notes
On February 15, 2011 and February 18, 2011, pursuant to the provisions of our senior credit facility and our
senior secured notes, we released certain guarantors from their obligations under those debt instruments. This
release resulted in a change of the guarantor structure underlying our senior secured notes and, subsequently, in
the reclassification of these companies, that had been included as guarantors, as non-guarantors. The following
condensed consolidating financial information has been adjusted to reflect the revised guarantor structure.
December 31, 2010
Balance sheets Company
Virgin Media
Secured
Finance
PLC Guarantors
Non-
Guarantors Adjustments Total
(in millions)
Cash and cash equivalents .......... £ 101.3 £ — £ 356.9 £ 21.3 £ — £ 479.5
Restricted cash ................... — — 1.3 0.9 — 2.2
Other current assets ............... 0.4 — 524.7 22.3 — 547.4
Total current assets ........... 101.7 — 882.9 44.5 — 1,029.1
Fixed assets, net .................. — — 4,070.8 692.3 — 4,763.1
Goodwill and intangible assets, net . . . — — 1,978.9 157.0 — 2,135.9
Investments in, and loans to, parent
and subsidiary companies. ........ 1,506.5 1,501.1 (646.9) 1,228.4 (3,229.9) 359.2
Other assets, net .................. 201.1 — 343.3 1.5 — 545.9
Total assets ................. £1,809.3 £1,501.1 £6,629.0 £2,123.7 £(3,229.9) £8,833.2
Current liabilities ................. £ 9.3 £ 4.6 £1,667.0 £ 628.0 £ (811.7) £1,497.2
Long term debt, net of current
portion ....................... 535.4 1,495.4 3,767.5 — — 5,798.3
Other long term liabilities .......... — — 188.9 84.2 — 273.1
Shareholders' equity ............... 1,264.6 1.1 1,005.6 1,411.5 (2,418.2) 1,264.6
Total liabilities and shareholders'
equity .................... £1,809.3 £1,501.1 £6,629.0 £2,123.7 £(3,229.9) £8,833.2
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