Virgin Media 2011 Annual Report Download - page 190
Download and view the complete annual report
Please find page 190 of the 2011 Virgin Media annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180 -
181 -
182 -
183 -
184 -
185 -
186 -
187 -
188 -
189 -
190 -
191 -
192 -
193 -
194 -
195 -
196 -
197 -
198 -
199 -
200 -
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
 |
 |
VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED AND SUBSIDIARIES
VIRGIN MEDIA INVESTMENTS LIMITED AND SUBSIDIARIES
COMBINED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)
Note 4—Fixed Assets (Including Leases) (continued)
Included in assets acquired under capital leases for the year ended December 31, 2011 is £55.5 million in
respect to customer premise equipment converted from operating leases to capital leases. Included in assets
acquired under capital leases for the year ended December 31, 2010 is £35.8 million in respect to 42 properties
included in a sale and leaseback transaction.
Future minimum annual payments under capital and operating leases at December 31, 2011 are as follows
(in millions). The table reflects our contractual obligations.
Capital Operating
Year ending December 31,
2012 .................................................... £ 91.8 £ 52.7
2013 .................................................... 67.5 41.4
2014 .................................................... 49.3 34.1
2015 .................................................... 23.4 21.9
2016 .................................................... 7.3 12.6
Thereafter ............................................... 240.8 48.4
Total minimum lease payments .............................. 480.1 £211.1
Less: amounts representing interest ........................... (222.1)
Present value of net minimum obligations ...................... 258.0
Less: current portion ....................................... (76.3)
£ 181.7
Total rental expense for the years ended December 31, 2011, 2010 and 2009 under operating leases was
£47.0 million, £52.6 million and £48.2 million, respectively.
The weighted average interest rate for capital lease obligations as of December 31, 2011 and 2010 was 6.8%
and 7.4%, respectively.
During 2011 and 2010, the changes in the asset retirement obligations were as follows (in millions):
2011 2010
Asset retirement obligation at the beginning of the year ............... £66.4 £45.5
Assets acquired .......................................... 14.0 16.8
Liabilities settled ......................................... (8.4) (6.5)
Accretion expense ........................................ 5.2 6.1
Revisions in cashflow estimates ............................. (11.9) 4.5
Asset retirement obligation at the end of the year .................... £65.3 £66.4
F-101