Vodafone 2010 Annual Report Download - page 113
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Financials
Vodafone Group Plc Annual Report 2010 111
History of experience adjustments
2010 2009 2008 2007 2006
£m £m £m £m £m
Experience adjustments on pension liabilities:
Amount 8 6 (5) (2) (4)
Percentage of pension liabilities −−−−−
Experience adjustments on pension assets:
Amount 286 (381) (176) 26 121
Percentage of pension assets 19% (35%) (14%) 2% 11%
24. Provisions
Asset
retirement Other
obligations provisions Total
£m £m £m
1 April 2008 208 454 662
Exchange movements 34 75 109
Amounts capitalised in the year 111 –111
Amounts charged to the income statement – 194 194
Utilised in the year − payments (4) (106) (110)
Amounts released to the income statement – (72) (72)
Other 12 –12
31 March 2009 361 545 906
Exchange movements (7) (6) (13)
Arising on acquisition –20 20
Amounts capitalised in the year 40 –40
Amounts charged to the income statement – 259 259
Utilised in the year − payments (3) (157) (160)
Amounts released to the income statement – (37) (37)
Other (21) –(21)
31 March 2010 370 624 994
Provisions have been analysed between current and non-current as follows:
2010 2009
£m £m
Current liabilities 497 373
Non-current liabilities 497 533
994 906
Asset retirement obligations
In the course of the Group’s activities, a number of sites and other assets are utilised which are expected to have costs associated with exiting and ceasing their use. The
associated cash outflows are generally expected to occur at the dates of exit of the assets to which they relate, which are long-term in nature.
Other provisions
Included within other provisions are provisions for legal and regulatory disputes and amounts provided for property and restructuring costs. The Group is involved in a
number of legal and other disputes, including notification of possible claims. The directors of the Company, after taking legal advice, have established provisions after taking
into account the facts of each case. The timing of cash outflows associated with legal claims cannot be reasonably determined. For a discussion of certain legal issues
potentially affecting the Group, refer to note 29. The associated cash outflows for restructuring costs are substantially short-term in nature. The timing of the cash flows
associated with property is dependent upon the remaining term of the associated lease.
25. Trade and other payables
2010 2009
£m £m
Included within non-current liabilities:
Other payables 76 91
Accruals and deferred income 379 322
Derivative financial instruments 361 398
816 811
Included within current liabilities:
Trade payables 3,254 3,160
Amounts owed to associates 17 18
Other taxes and social security payable 998 762
Other payables 650 1,163
Accruals and deferred income 9,064 8,258
Derivative financial instruments 99 37
14,082 13,398