BT 2010 Annual Report Download - page 124
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FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
122 BT GROUP PLC ANNUAL REPORT & FORM 20-F
21. Provisions
BT Global Property Other
Services provisionsaprovisionsbprovisionscTotal
£m £m £m £m
At 1 April 2009 303 172 245 720
Charged to the income statementd10 131 204 345
Unwind of discount –4–4
Utilised in the year (139) (35) (98) (272)
Transfers 16 –3147
Exchange differences (3) – – (3)
At 31 March 2010 187 272 382 841
2010 2009
At 31 March £m £m
Analysed as:
Current 134 254
Non current 707 466
841 720
aAmounts provided in relation to the BT Global Services restructuring programme and the contract and the financial reviews in 2009. These will be utilised as the obligations are settled.
b Property provisions mainly comprise onerous lease provisions arising from the rationalisation of the group’s property portfolio. The provisions will be utilised over the remaining lease periods, which range
from one to 22 years. Financial liabilities comprise £255m (2009: £166m) of this balance.
cOther provisions includes:
– Amounts provided for incremental and directly attributable costs arising from the group’s obligation to deliver the Undertakings, which will be utilised within one year.
– Amounts provided for legal or constructive obligations arising from insurance claims, litigation and regulatory risk, which will be utilised as the obligations are settled.
dIncludes specific items of £121m for property rationalisation costs and £10m relating to the BT Global Services restructuring programme.
22. Deferred taxation
Retirement
Excess capital benefit Share-based
allowances obligationsapayments Other Total
£m £m £m £m £m
At 1 April 2008 1,969 778 (51) (183) 2,513
(Credit) expense recognised in the income statement (158) 78 32 7 (41)
(Credit) expense recognised in equity – (1,959) 12 100 (1,847)
At 31 March 2009 1,811 (1,103) (7) (76) 625
Deferred tax asset – (1,103) – – (1,103)
Deferred tax liability 1,811 – (7) (76) 1,728
At 1 April 2009 1,811 (1,103) (7) (76) 625
(Credit) expense recognised in the income statement (115) 118 (15) 2 (10)
(Credit) expense recognised in equity – (1,211) (19) (143) (1,373)
Transfer from current tax – – – 18 18
At 31 March 2010 1,696 (2,196) (41) (199) (740)
Deferred tax asset – (2,196) – – (2,196)
Deferred tax liability 1,696 – (41) (199) 1,456
At 31 March 2010 1,696 (2,196) (41) (199) (740)
aIncludes a deferred tax asset of £3m (2009: £nil) arising on contributions payable to defined contribution schemes.
At 31 March 2010, all of the deferred tax asset of £2,196m (2009: £1,103m) is expected to be recovered after more than one year. At
31 March 2010, all of the deferred tax liability of £1,456m (2009: £1,728m) is expected to be settled after more than one year.