Vodafone 2003 Annual Report Download - page 137

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Vodafone Group Plc Annual Report & Accounts and Form 20-F 2003 135
Had compensation cost been determined based upon the fair value of the share options and ADS options at grant date, the Group’s net loss and loss per
ordinary share would have been restated to the pro forma amounts indicated below (in millions, except per share amounts):
2003 2002 2001
£m £m £m
Net loss as reported under US GAAP (9,055) (16,688) (7,071)
Stock based compensation, net of related tax effects, included in
the determination of net income as reported 48 ––
Stock based employee compensation expense, under fair value based method
for all awards, net of related tax effects (65) (81) (148)
Pro forma net loss (9,072) (16,769) (7,219)
Earnings per share
Basic – as reported under US GAAP (13.29)p (24.56)p (11.51)p
Basic – pro forma (13.31)p (24.67)p (11.75)p
Pensions and other post retirement benefits
As at 31 March 2003, the Group operated a number of pension plans for the benefit of its employees throughout the world, which vary with conditions and
practices in the countries concerned. All the Group’s pension plans are provided either through defined benefit or defined contribution arrangements. Defined
benefit schemes provide pensions based on the employees’ length of pensionable service and their final pensionable salary or other criteria. Defined
contribution schemes offer employees individual funds that are converted into pension benefits at the time of retirement.
A description of the major defined benefit schemes provided in the UK, Germany and Japan is given in note 34.
Analyses of the net pension cost, plan assets, obligations and funded status for the major defined benefit plans in the UK, Germany and Japan, prepared
under US GAAP, are provided below.