Vtech 2012 Annual Report Download - page 50

Download and view the complete annual report

Please find page 50 of the 2012 Vtech annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 72

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72

48 VTech Holdings Ltd Annual Report 2012
Notes to the Financial Statements
1 Segment Information (Continued)
Year ended 31 March 2012 North America Europe Asia Pacific Others Total
US$ million US$ million US$ million US$ million US$ million
Reportable segment revenue 903.5 719.3 94.1 67.6 1,784.5
Reportable segment profit 94.6 93.1 13.6 8.2 209.5
Depreciation and amortisation 0.8 1.9 24.8 – 27.5
Reportable segment assets 140.2 104.3 660.9 0.6 906.0
Reportable segment liabilities (41.7) (28.4) (275.9) (0.4) (346.4)
Year ended 31 March 2011 North America Europe Asia Pacific Others Total
US$ million US$ million US$ million US$ million 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)
(c) Reconciliations of reportable segment assets and liabilities
2012 2011
Note US$ million US$ million
Assets
Reportable segment assets 906.0 871.3
Investments 9 0.2 0.2
Taxation recoverable 10(a) 0.8 0.3
Deferred tax assets 10(b) 5.9 5.4
Consolidated total assets 912.9 877.2
Liabilities
Reportable segment liabilities (346.4) (324.3)
Taxation payable 10(a) (4.5) (5.1)
Deferred tax liabilities 10(b) (5.8) (3.9)
Consolidated total liabilities (356.7) (333.3)
For the year ended 31 March 2012, approximately 13% (2011: 14%) 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:
2012 2011
Note US$ million US$ million
Staff related costs
– salaries and wages 228.2 202.0
– pension costs: defined
contribution schemes 16 8.3 6.6
– pension costs: defined
benefit scheme 16 0.9 1.0
– severance payments 0.8 0.5
– share-based payment
expenses 3.8 2.3
242.0 212.4
Cost of inventories 11(b) 1,213.7 1,145.9
Depreciation of tangible assets 7 27.4 33.1
Amortisation of leasehold land
payments 8 0.1 0.1
Gain on disposal of tangible
assets (0.1) –
Auditors’ remuneration
– audit services 0.8 0.8
– audit related services 0.1 0.1
– tax and other services 0.5 0.5
2012 2011
Note US$ million US$ million
Operating leases charges:
minimum lease payments
– land and buildings 14.8 12.4
– others 2.2 2.2
Impairment loss of trade
debtors 12(b) 1.5 0.2
Impairment loss of trade
debtors written back 12(b) (1.7) (0.9)
Royalties 23.0 23.1
Provision for defective goods
returns 15 18.0 26.7
Net foreign exchange gain (1.3) (1.7)
Net gain on forward foreign
exchange contracts
– Net gain on cash flow
hedging instruments
reclassified from equity (0.3) –
– Net gain on the forward
foreign exchange
contracts –(0.1)