Virgin Media 2010 Annual Report Download - page 179

VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in millions, except share data)
December 31,
2010
December 31,
2009
(Adjusted)
Assets
Current assets
Cash and cash equivalents ................................................... £ 376.0 £ 415.9
Restricted cash ........................................................... 2.2 5.3
Accounts receivable—trade, less allowances for doubtful accounts of £6.4 (2010) and
£9.0 (2009) ............................................................ 431.2 403.1
Inventory for resale ........................................................ 26.4 12.9
Derivative financial instruments .............................................. 0.8 2.2
Prepaid expenses and other current assets ...................................... 88.6 90.6
Current assets held for sale .................................................. — 152.8
Total current assets .................................................... 925.2 1,082.8
Fixed assets, net .............................................................. 4,651.0 4,921.8
Goodwill and other indefinite-lived assets .......................................... 2,026.6 2,027.0
Intangible assets, net ........................................................... 118.4 265.9
Equity investments ............................................................ 359.2 359.9
Derivative financial instruments .................................................. 202.7 235.1
Deferred financing, net of accumulated amortization of £19.6 (2010) and £133.6 (2009) ..... 89.4 101.8
Other assets .................................................................. 52.7 50.8
Due from group companies ...................................................... 751.1 781.6
Total assets ................................................................. £9,176.3 £ 9,826.7
Liabilities and shareholders’ equity
Current liabilities
Accounts payable ......................................................... £ 296.1 £ 312.4
Accrued expenses and other current liabilities ................................... 376.3 391.9
Derivative financial instruments .............................................. 13.3 17.8
Restructuring liabilities ..................................................... 56.4 55.9
VAT and employee taxes payable ............................................. 83.6 61.1
Interest payable ........................................................... 59.1 42.7
Interest payable to group companies ........................................... 147.2 165.9
Deferred revenue .......................................................... 300.1 274.8
Current portion of long term debt ............................................. 222.1 41.2
Current liabilities held for sale ............................................... — 83.8
Total current liabilities ................................................. 1,554.2 1,447.5
Long term debt, net of current portion ............................................. 3,195.0 3,239.4
Long term debt due to group companies ............................................ 2,746.4 3,321.1
Derivative financial instruments .................................................. 62.0 106.8
Deferred revenue and other long term liabilities ...................................... 207.2 180.7
Deferred income taxes .......................................................... 3.2 83.0
Total liabilities ............................................................... 7,768.0 8,378.5
Commitments and contingent liabilities
Shareholders’ equity
Common stock—£0.001 par value; authorized 1,000,000 ordinary shares (2010 and
2009); issued and outstanding 224,552 ordinary shares (2010 and 2009) ............ — —
Additional paid-in capital ................................................... 4,371.3 4,371.3
Accumulated other comprehensive loss ........................................ (76.2) (137.8)
Accumulated deficit ....................................................... (2,886.8) (2,785.3)
Total shareholders’ equity ............................................... 1,408.3 1,448.2
Total liabilities and shareholders’ equity. ......................................... £9,176.3 £ 9,826.7
See accompanying notes.
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