Vodafone Group Plc Annual Report for the year ended 31 March 2012

Vodafone Group Plc
Annual Report 2012
135
History of experience adjustments
2012 2011 2010 2009 2008
£m £m £m £m £m
Experience adjustments on pension liabilities:
Amount (21) 23 8 6 (5)
Percentage of pension liabilities (1%) 1% – – –
Experience adjustments on pension assets:
Amount (30) (6) 286 (381) (176)
Percentage of pension assets (2%) – 19% (35%) (14%)
24. Provisions
Asset
retirement
Legal and
obligations regulatory Other Total
£m £m £m £m
1 April 2010 370 184 440 994
Exchange movements (4) (1) (11) (16)
Amounts capitalised in the year 4 – – 4
Amounts charged to the income statement – 88 212 300
Utilised in the year − payments (8) (12) (181) (201)
Amounts released to the income statement – (30) (29) (59)
Other (47) 41 25 19
31 March 2011 315 270 456 1,041
Exchange movements (19) (12) (26) (57)
Amounts capitalised in the year 37 – – 37
Amounts charged to the income statement – 50 209 259
Utilised in the year − payments (4) (25) (164) (193)
Amounts released to the income statement – (6) (47) (53)
Other (10) 33 55 78
31 March 2012 319 310 483 1,112
Provisions have been analysed between current and non-current as follows:
31 March 2012
Asset
retirement
Legal and
obligations regulatory Other Total
£m £m £m £m
Current liabilities 15 225 393 633
Non-current liabilities 304 85 90 479
319 310 483 1,112
31 March 2011
Asset
retirement
Legal and
obligations regulatory Other Total
£m £m £m £m
Current liabilities 7 215 337 559
Non-current liabilities 308 55 119 482
315 270 456 1,041
Asset retirement obligations
In the course of the Group’s activities a number of sites and other assets are utilised which are expected to have costs associated with exiting and
ceasing their use. The associated cash outflows are substantially expected to occur at the dates of exit of the assets to which they relate, which are
long-term in nature, primarily in periods up to twenty five years from when the asset is brought into use.
Legal and regulatory
The Group is involved in a number of legal and other disputes, including notifications of possible claims. The directors of the Company, after taking
legal advice, have established provisions after taking into account the facts of each case. The timing of cash outflows associated with the majority of
legal claims are typically less than one year, however, for some legal claims the timing of cash flows may be long term in nature. For a discussion of
certain legal issues potentially affecting the Group refer to note 29.
Other provisions
Other provisions comprises various provisions including restructuring costs and property, none of which are individually material. The associated
cash outflows for restructuring costs are primarily less than one year. The timing of the cash flows associated with property is dependent upon the
remaining term of the associated lease.
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