Vodafone 1999 Annual Report Download - page 68

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P58-59 USA Accounting Principals
United States Accounting Principles
The following is a summary of the effects of the differences between US Generally Accepted Accounting Principles (“US
GAAP”) and UK Generally Accepted Accounting Principles (“UK GAAP”) that are significant to Vodafone Group Plc. The
principles are set out below.
Net income and earnings per ordinary share
1999
£m
1998
£m
Net income as reported in accordance with UK GAAP 636.7 418.8
Items (decreasing)/increasing net income:
Goodwill amortisation (99.1) (62.0)
Profit on disposal of fixed asset investments 4.4 14.5
Deferred income taxes (28.0) 3.0
Other (3.6) (0.1)
–––––––– ––––––––
Net income in accordance with US GAAP 510.4 374.2
–––––––– ––––––––
Basic earnings per ordinary share in accordance with US GAAP 16.52p 12.18p
–––––––– ––––––––
Diluted earnings per ordinary share in accordance with US GAAP 16.45p 12.14p
–––––––– ––––––––
Shareholders’ equity
1999
£m
1998
£m
Shareholders’ equity as reported in accordance with UK GAAP 814.6 282.5
Items increasing/(decreasing) shareholders’ equity:
Goodwill – net of amortisation 1,031.1 1,136.7
Licence fee amortisation (12.5) (10.7)
Cumulative deferred income taxes (71.3) (43.3)
Dividends not declared during the year 100.3 86.9
Minority interests (3.0) (7.9)
Other (0.9) (4.7)
–––––––– ––––––––
Shareholders’ equity in accordance with US GAAP 1,858.3 1,439.5
–––––––– ––––––––
Total assets
http://www.vodafone.com/download/investor/reports/annual99/USA_Accounting_Principals.htm (1 of 3)30/03/2007 00:12:25