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All figures in £ millions | Notes | 2007 | 2006 |
---|---|---|---|
Assets | |||
Non-current assets | |||
Property, plant and equipment | 10 | 355 | 348 |
Intangible assets | 11 | 3,814 | 3,581 |
Investments in joint ventures and associates | 12 | 20 | 20 |
Deferred income tax assets | 13 | 328 | 417 |
Financial assets – Derivative financial instruments | 16 | 23 | 36 |
Retirement benefit assets | 24 | 62 | – |
Other financial assets | 15 | 52 | 17 |
Other receivables | 19 | 129 | 124 |
4,783 | 4,543 | ||
Current assets | |||
Intangible assets – Pre-publication | 17 | 450 | 402 |
Inventories | 18 | 368 | 354 |
Trade and other receivables | 19 | 946 | 953 |
Financial assets – Derivative financial instruments | 16 | 28 | 50 |
Financial assets – Marketable securities | 40 | 25 | |
Cash and cash equivalents (excluding overdrafts) | 20 | 560 | 592 |
2,392 | 2,376 | ||
Non-current assets classified as held for sale | 30 | 117 | 294 |
2,509 | 2,670 | ||
Total assets | 7,292 | 7,213 | |
Liabilities | |||
Non-current liabilities | |||
Financial liabilities – Borrowings | 21 | (1,049) | (1,148) |
Financial liabilities – Derivative financial instruments | 16 | (16) | (19) |
Deferred income tax liabilities | 13 | (287) | (245) |
Retirement benefit obligations | 24 | (95) | (250) |
Provisions for other liabilities and charges | 22 | (44) | (29) |
Other liabilities | 23 | (190) | (162) |
(1,681) | (1,853) | ||
Current liabilities | |||
Trade and other liabilities | 23 | (1,050) | (998) |
Financial liabilities – Borrowings | 21 | (559) | (595) |
Current income tax liabilities | (96) | (74) | |
Provisions for other liabilities and charges | 22 | (23) | (23) |
(1,728) | (1,690) | ||
Liabilities directly associated with non-current assets classified as held for sale | 30 | (9) | (26) |
Total liabilities | (3,418) | (3,569) | |
Net assets | 3,874 | 3,644 | |
Equity | |||
Share capital | 26 | 202 | 202 |
Share premium | 26 | 2,499 | 2,487 |
Treasury shares | 27 | (216) | (189) |
Other reserves | 28 | (514) | (592) |
Retained earnings | 28 | 1,724 | 1,568 |
Total equity attributable to equity holders of the Company | 3,695 | 3,476 | |
Minority interest | 179 | 168 | |
Total equity | 3,874 | 3,644 |
These financial statements have been approved for issue by the board of directors on 13 March 2008 and signed on its behalf by
Robin Freestone, Chief financial officer