Vodafone 2004 Annual Report Download - page 88
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Vodafone Group Plc Annual Report 2004
86
Notes to the Consolidated Financial Statements continued
13. Fixed asset investments
Associated undertakings
Group
£m
Share of net assets:
1 April 2003 3,209
Exchange movements (331)
Acquisitions (110)
Disposals 5
Share of retained results excluding goodwill amortisation 349
Share of goodwill amortisation (47)
31 March 2004 3,075
Capitalised goodwill:
1 April 2003 22,616
Exchange movements (2,499)
Acquisitions (note 25) 110
Disposals (11)
Goodwill amortisation (2,065)
31 March 2004 18,151
Net book value
31 March 2004 21,226
31 March 2003 25,825
For acquisitions of associated undertakings prior to 1 April 1998, the cumulative goodwill written off to reserves, net of the goodwill attributed to business
disposals, was £467 million at 31 March 2004 (2003: £467 million).
The Group’s share of its associated undertakings comprises:
2004 2003
£m £m
Share of turnover of associated undertakings 10,179 8,769
Share of assets:
Fixed assets 8,139 8,390
Current assets 2,263 2,640
10,402 11,030
Share of liabilities:
Liabilities due within one year 4,695 5,261
Liabilities due after more than one year 2,197 2,127
Minority interests 435 433
7,327 7,821
Share of net assets 3,075 3,209
Attributed goodwill net of accumulated amortisation and impairment 18,151 22,616
21,226 25,825
The Group’s principal associated undertakings and fixed asset investments are detailed in note 34. A summary of Verizon Wireless’ results is shown within
note 36.