Vodafone 2009 Annual Report Download - page 91

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Financials
Vodafone Group Plc Annual Report 2009 89
9. Intangible assets
Licences and Computer
Goodwill spectrum software Other Total
£m £m £m £m £m
Cost:
1 April 2007 75,068 17,256 4,305 865 97,494
Exchange movements 12,406 1,707 573 59 14,745
Arising on acquisition 4,316 3,045 8 256 7,625
Additions – 33 993 8 1,034
Disposals – (1) (79) – (80)
Other(1) (28) – – – (28)
31 March 2008 91,762 22,040 5,800 1,188 120,790
Exchange movements 14,298 2,778 749 153 17,978
Arising on acquisition 613 199 69 130 1,011
Additions – 1,138 1,144 – 2,282
Disposals – (1) (403) – (404)
Transfer to investments in associated undertakings (9) (16) – – (25)
31 March 2009 106,664 26,138 7,359 1,471 141,632
Accumulated impairment losses and amortisation:
1 April 2007 34,501 3,356 2,989 376 41,222
Exchange movements 5,925 433 436 28 6,822
Amortisation charge for the year – 1,343 802 337 2,482
Disposals – – (67) – (67)
31 March 2008 40,426 5,132 4,160 741 50,459
Exchange movements 6,630 659 569 126 7,984
Amortisation charge for the year – 1,522 885 346 2,753
Impairment losses 5,650 250 – – 5,900
Disposals – – (391) – (391)
Transfers to investments in associated undertakings – (11) – – (11)
31 March 2009 52,706 7,552 5,223 1,213 66,694
Net book value:
31 March 2008 51,336 16,908 1,640 447 70,331
31 March 2009 53,958 18,586 2,136 258 74,938
Note:
(1) Represents a pre-tax charge against goodwill offsetting the tax benefit arising on recognition of a pre-acquisition deferred tax asset.
For licences and spectrum and other intangible assets, amortisation is included within the cost of sales line within the consolidated income statement. Licences and
spectrum with a net book value of £2,765m (2008: £nil) have been pledged as security against borrowings.
The net book value at 31 March 2009 and expiry dates of the most significant licences are as follows:
2009 2008
Expiry date £m £m
Germany December 2020 5,452 5,089
UK December 2021 4,246 4,579
Qatar June 2028 1,482 –
Italy December 2021 1,240 1,150