Annual report (20-F) - Ono

More documents

Recommendations

Info

(c) Comprehensive income US GAAP requires entities to separately disclose all components of comprehensive income in the financial statements in the period in which they are recognized. Comprehensive income under US GAAP is as follows: Euro thousand 2004 2003 2002 Net profit / (loss) under US GAAP (80,084) 114,463 (125,400) Other comprehensive income: Transition adjustment for derivative financial instruments — 1,684 1,684 Net comprehensive profit / (loss) under US GAAP (80,084) 116,147 (123,716) (d) Classification differences Net extraordinary expenses. Under Spanish GAAP, the Group has classified certain income and expenses as extraordinary items. Under US GAAP, these items would be classified as a component of other operating and non-operating income (expense), as appropriate. Cash and cash equivalents. Under Spanish GAAP, cash and cash equivalents equals cash and banks accounts. Under US GAAP, the Group considers all highly liquid investments with a maturity of three months or less at acquisition, to be cash and cash equivalents. Cash and cash equivalents under US GAAP amounted to euro 4.1 and 1.3 million, at December 31, 2004 and 2003, respectively. Prepayments for tangible assets. Under Spanish GAAP, prepayments on account for the purchase or construction of tangible assets are classified as non-current assets. Under US GAAP, prepaid expenses are classified as current assets until the underlying funds are utilized. Goodwill. Under Spanish GAAP, goodwill resulting from the vertical merger is presented under intangible assets. Under US GAAP it should be presented under the caption Goodwill on consolidation of the balance sheet. Finance leases. Under Spanish GAAP, finance leases are classified as intangible assets. Under US GAAP, finance leases are classified based upon the underlying asset type. (e) Intangible assets Additional information required according to SFAS 142 which has been prepared on Spanish GAAP basis is disclosed below. Intangible assets’ carrying amounts and accumulated amortization of definite lived intangible assets, in total and by major class as of December 31, 2004: Gross carrying amount Euro thousand Accumulated amortization Impairment of assets Definite lived intangible assets Franchise acquisition costs 12,128 (6,848) — Computer software 42,752 (31,039) (1,737) Finance leases 1,911 (141) — Other intangible assets 880 (811) — Total definite lived intangible assets 57,671 (38,839) (1,737) Indefinite lived intangible assets Goodwill (Note 7) 193,334 (39,710) — Total indefinite lived intangible assets 193,334 (39,710) — Total intangible assets 251,005 (78,549) (1,737) F-43
Amortization expense related to intangible assets and goodwill for the years 2004 and 2003 Euro thousand 2004 2003 Amortization of Goodwill (intangible assets) 9,563 6,445 Amortization of intangible assets (excluded goodwill) 4,980 8,305 Amortization of Goodwill on consolidation 10,229 13,390 Total amortization of intangible assets and goodwill 24,772 28,140 Estimated aggregate intangible asset and goodwill amortization expense for each of the five succeeding fiscal years Estimated amortization expense Euro thousand Intangible assets Goodwill(1) For the year ended December 31, 2005 4,097 20,191 For the year ended December 31, 2006 3,447 20,191 For the year ended December 31, 2007 2,996 20,191 For the year ended December 31, 2008 2,271 20,191 For the year ended December 31, 2009 1,675 20,191 (1) Includes both goodwill on consolidation and on intangible asset. The changes in the carrying amount of goodwill during the years 2004 and 2003 are as follows: Goodwill on consolidation Euro thousand Goodwill in intangible asset Balance as of January 1, 2003 239,933 114,795 Amortization 2003 (13,390) (6,445) Balance as of January 1, 2004 226,543 108,350 Transfers 2004 (54,837) 54,837 Goodwill acquired during 2004 9,581 — Amortization 2004 (10,229) (9,563) Balance as of December 31, 2004 171,058 153,624 (f) New accounting pronouncements The Group does not anticipate that the adoption of any of the new accounting pronouncements will have a material impact on the consolidated financial statements. (g) Statements of Cash Flows The statements of cash flows for the years 2004, 2003 and 2002, presented on a Spanish GAAP measurement basis, are as follows: F-44
Page 1 and 2:
SECURITIES AND EXCHANGE COMMISSION
Page 3 and 4:
“RGUs” are revenue generating u
Page 5 and 6:
CONTENTS Clause Item 1. Identity of
Page 7 and 8:
PART I Item 1. Identity of Director
Page 9 and 10:
Reconciliation between EBITDA and n
Page 11 and 12:
The table below shows the high and
Page 13 and 14:
significant qualifications and exce
Page 15 and 16:
• consolidate our brand in the ma
Page 17 and 18:
operating and financial performance
Page 19 and 20:
the products and services we offer
Page 21 and 22:
• our ability to access the finan
Page 23 and 24:
In March 2005, Cableuropa performed
Page 25 and 26:
Our Strategy experience with cable
Page 27 and 28:
We offer the following bundled serv
Page 29 and 30:
Digital Television The introduction
Page 31 and 32:
annual revenue of around €1 milli
Page 33 and 34:
them are trained in our specific in
Page 35 and 36:
• Andalucía Cluster. The Andaluc
Page 37 and 38:
• Television line-up. Sogecable h
Page 39 and 40:
In accordance with the General Law
Page 41 and 42:
Telecommunications further requires
Page 43 and 44:
Obligations According to the releva
Page 45 and 46:
second telephony lines. The network
Page 47 and 48:
Address Current Use Size (square me
Page 49 and 50:
Address Current Use Size (square me
Page 51 and 52:
The following are the key factors a
Page 53 and 54:
The following table sets forth reve
Page 55 and 56:
The following table sets forth cert
Page 57 and 58:
total revenues to 28.6% for the yea
Page 59 and 60:
Net Extraordinary Income/(Expense)
Page 61 and 62:
needed before commercial launch of
Page 63 and 64:
Net cash provided by financing acti
Page 65 and 66:
A number of these contracts are sub
Page 67 and 68:
All decisions regarding our busines
Page 69 and 70:
Leopoldo Calvo-Sotelo became an ind
Page 71 and 72:
Audit and Compliance Committee GCO
Page 73 and 74:
E. Share Ownership Currently none o
Page 75 and 76:
The shareholders’ agreement provi
Page 77 and 78:
Dividend and Liquidation Rights Pay
Page 79 and 80:
• the aggregate increases approve
Page 81 and 82:
As security for the senior bank fac
Page 83 and 84:
The Indentures also provide for eve
Page 85 and 86:
par value shares and subject to adj
Page 87 and 88:
Where interest has been paid under
Page 89 and 90:
the avoidance of double taxation. H
Page 91 and 92:
possible application of the passive
Page 93 and 94:
a sale, exchange, retirement or dis
Page 95 and 96: The table below shows the variable
Page 97 and 98: Item 16C. Principal Accountant Fees
Page 99 and 100: No. 333-10976)). (Now superseded.)
Page 101 and 102: Form F-4 (File No. 333-109976)). 4.
Page 103 and 104: INDEX TO THE CONSOLIDATED FINANCIAL
Page 105 and 106: CABLEUROPA, S.A.U. AND SUBSIDIARIES
Page 107 and 108: CABLEUROPA, S.A.U. AND SUBSIDIARIES
Page 109 and 110: Other subsidiaries: Company Name He
Page 111 and 112: d) Foreign exchange rate options Fo
Page 113 and 114: Had the life of this debt not been
Page 115 and 116: 6. Start-up costs Euro thousand Bal
Page 117 and 118: ) Finance leases Computer hardware
Page 119 and 120: 9. Financial assets Euro thousand B
Page 121 and 122: The detail of short and long term d
Page 123 and 124: Cancellation in 2003 of MBCF relate
Page 125 and 126: (e) State Subsidies Starting in 200
Page 127 and 128: Options granted under the Phantom P
Page 129 and 130: (c) Reserves (accumulated losses) i
Page 131 and 132: (c) The movement in deferred tax as
Page 133 and 134: In 2004, 2003 and 2002, the Group
Page 135 and 136: Transactions Services received Serv
Page 137 and 138: Euro thousand 2004 2003 Audit servi
Page 139 and 140: Euro thousand 2004 2003 2002 Change
Page 141 and 142: Reconciliation of net profit / (los
Page 143 and 144: Management of the Group considered
Page 145: (n) Start-up costs. Under Spanish G
Page 149: (h) Leases The group leases certain
show all

Annual report (20-F) - Ono

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?