Virgin Media 2011 Annual Report Download - page 174

VIRGIN MEDIA INVESTMENTS LIMITED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in millions, except share data)
December 31,
2011
December 31,
2010
Assets
Current assets
Cash and cash equivalents ................................................... £ 282.0 £ 376.0
Restricted cash ........................................................... 1.9 2.2
Accounts receivable—trade, less allowances for doubtful accounts of £10.9 (2011) and
£6.4 (2010) ............................................................ 435.4 431.2
Inventory for resale ........................................................ 13.1 26.4
Derivative financial instruments .............................................. 9.5 0.8
Prepaid expenses and other current assets ...................................... 82.5 88.6
Total current assets .................................................... 824.4 925.2
Fixed assets, net .............................................................. 4,501.6 4,651.0
Goodwill and other indefinite-lived assets .......................................... 2,026.6 2,026.6
Intangible assets, net ........................................................... 0.0 118.4
Equity investments ............................................................ 0.0 359.2
Derivative financial instruments .................................................. 209.6 202.7
Deferred financing costs, net of accumulated amortization of £28.0 (2011) and £19.6 (2010) . . 44.5 89.4
Other assets .................................................................. 50.8 52.7
Due from group companies ...................................................... 1,223.2 751.1
Total assets .................................................................. £8,880.7 £ 9,176.3
Liabilities and shareholder's equity
Current liabilities
Accounts payable ......................................................... £ 304.3 £ 296.1
Accrued expenses and other current liabilities ................................... 337.1 376.3
Derivative financial instruments .............................................. 16.7 13.3
Restructuring liabilities ..................................................... 34.9 56.4
VAT and employee taxes payable ............................................. 88.4 83.6
Interest payable ........................................................... 9.9 18.0
Interest payable to group companies ........................................... 178.6 188.3
Deferred revenue .......................................................... 311.8 300.1
Current portion of long term debt ............................................. 140.9 222.1
Total current liabilities ................................................. 1,422.6 1,554.2
Long term debt, net of current portion ............................................. 263.3 353.7
Long term debt due to group companies, net of current portion .......................... 5,399.1 5,587.7
Derivative financial instruments .................................................. 53.4 62.0
Deferred revenue and other long term liabilities ...................................... 190.0 207.2
Deferred income taxes .......................................................... 0.0 3.2
Total liabilities ............................................................... 7,328.4 7,768.0
Commitments and contingent liabilities
Shareholder's equity
Common stock—£1.0 par value; issued and outstanding 2.5 (2011 and 2010) ordinary
shares ................................................................. 2.5 2.5
Additional paid-in capital ................................................... 4,368.8 4,368.8
Accumulated other comprehensive loss ........................................ (119.9) (76.2)
Accumulated deficit ....................................................... (2,699.1) (2,886.8)
Total shareholder's equity ............................................... 1,552.3 1,408.3
Total liabilities and shareholder's equity ......................................... £8,880.7 £ 9,176.3
See accompanying notes.
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