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VTech Holdings Ltd Annual Report 2011 43
1 Segment Information (Continued)
Year ended 31 March 2011 North America
US$ million
Europe
US$ million
Asia Pacific
US$ million
Others
US$ million
Total
US$ million
Reportable segment revenue 874.9 667.6 98.2 72.1 1,712.8
Reportable segment profit 97.2 97.9 13.8 9.8 218.7
Depreciation and amortisation 1.0 1.8 30.4 – 33.2
Reportable segment assets 140.3 93.4 636.9 0.7 871.3
Reportable segment liabilities (43.5) (26.0) (253.5) (1.3) (324.3)
Year ended 31 March 2010 North America
US$ million
Europe
US$ million
Asia Pacific
US$ million
Others
US$ million
Total
US$ million
Reportable segment revenue 872.6 528.9 81.5 49.3 1,532.3
Reportable segment profit 116.0 89.7 9.0 9.4 224.1
Depreciation and amortisation 1.0 1.8 33.9 – 36.7
Impairment loss on construction in progress – – 6.9 – 6.9
Reportable segment assets 121.1 75.5 642.3 0.7 839.6
Reportable segment liabilities (47.5) (19.9) (247.7) (0.2) (315.3)
(c) Reconciliations of reportable segment assets and liabilities
Note
2011
US$ million
2010
US$ million
Assets
Reportable segment assets 871.3 839.6
Investments 9 0.2 0.2
Taxation recoverable 10(a) 0.3 0.7
Deferred tax assets 10(b) 5.4 5.6
Consolidated total assets 877.2 846.1
Liabilities
Reportable segment liabilities (324.3) (315.3)
Taxation payable 10(a) (5.1) (9.6)
Deferred tax liabilities 10(b) (3.9) (3.7)
Consolidated total liabilities (333.3) (328.6)
For the year ended 31 March 2011, approximately 14% (2010: 17%) of the Group’s revenue is derived from a single external customer.
This revenue is attributable to the North America segment.
Details of concentrations of credit risk of the Group are set out in note 19(a).
2 Operating Profit
Operating profit is arrived at after charging/(crediting) the following:
Note
2011
US$ million
2010
US$ million
Staff related costs
– salaries and wages 202.0 164.5
– pension costs: defined
contribution schemes 16 6.6 5.4
– pension costs: defined
benefit scheme 16 1.0 2.1
– severance payments 0.5 0.9
– equity-settled share-based
payment expenses 2.3 0.8
212.4 173.7
Cost of inventories 1,145.9 972.9
Depreciation of tangible assets 7 33.1 36.6
Amortisation of leasehold
land payments 8 0.1 0.1
Impairment loss on
construction in progress 7 –6.9
Auditors' remuneration
– audit services 0.8 0.8
– audit related services 0.1 0.1
– tax and other services 0.5 0.4
Note
2011
US$ million
2010
US$ million
Operating leases charges:
minimum lease payments
– land and buildings 12.4 11.2
– others 2.2 2.0
Impairment loss of
trade debtors 12(b) 0.2 4.1
Reversal of impairment loss of
trade debtors 12(b) (0.9) (0.5)
Royalties 23.1 18.3
Provision for defective
goods returns 15 26.7 34.1
Net foreign exchange gain (1.7) –
Net (gain)/loss on forward
foreign exchange contracts
– Net loss on cash flow
hedging instruments
reclassified from equity –0.3
– Net gain on the forward
foreign exchange
contracts (0.1) (0.3)