Vodafone 2002 Annual Report Download - page 137

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Notes to the Consolidated Financial Statements Vodafone Group Plc 135Annual Report & Accounts and Form 20-F
Had compensation cost been determined based upon the fair value of the share options and ADS options at grant date consistent with SFAS No. 123 the
Group’s net (loss)/income and (loss)/earnings per ordinary share would have been restated to the pro forma amounts indicated below (in millions, except per
share amounts):
2002 2001 2000
£m £m £m
Net (loss)/income
As reported under US GAAP (16,688) (7,071) 553
Pro forma (16,901) (7,219) 401
Basic (loss)/earnings per share
As reported under US GAAP (24.56)p (11.51)p 2.04p
Pro forma (24.87)p (11.75)p 1.48p
Diluted (loss)/earnings per share
As reported under US GAAP (24.64)p (11.52)p 2.02p
Pro forma (24.96)p (11.76)p 1.47p
Unaudited pro forma summary financial information
The following unaudited pro forma summary financial information presents the Group’s consolidated results of operations for the year ended 31 March 2002
and the year ended 31 March 2001 as if the formation of Verizon Wireless, the acquisition of Mannesmann, Airtel, Japan Telecom, the J-Phone Group and
Grupo lusacell all took place on 1 April 2000, the first day of the financial accounting periods presented.
Pro forma financial information for the year ended 31 March 2001 has been derived from the Group’s consolidated financial results for the year then ended,
the unaudited financial results of Mannesmann, excluding the results of businesses held for resale on acquisition, for the period from 1 April 2000 to 12 April
2000, the audited results of Airtel for the year ended 31 December 2000, the audited consolidated results of Japan Telecom, including its consolidated
subsidiary, J-Phone and the audited results of Grupo lusacell for the year ended 31 December 2000.
Pro forma financial information for the year ended 31 March 2002 has been derived from the Group’s consolidated financial results for the year then ended,
the unaudited financial results of Japan Telecom and the J-Phone Group for the period from 1 April to 11 October 2001 and the unaudited financial results
of Grupo lusacell. The results for Eircell are included in the consolidated results for the year. Consequently comparative results are not available for the prior
period. The Group’s consolidated financial results for the year ended 31 March 2002 included turnover of £477m and operating profit of £117m relating
to Eircell.
The financial statements of the acquired entities have been adjusted to conform materially to the Group’s accounting policies under UK GAAP. The pro forma
merger adjustments include assumptions that the Group’s management believe to be reasonable. The pro forma results are not necessarily indicative of
those that would have actually occurred had these transactions taken place at the beginning of the periods presented.
2002 2001
£m £m
Turnover 28,610 24,987
Net loss (15,986) (10,293)
Basic loss per ordinary share (23.52)p (16.76)p
Pensions and other post retirement benefits
The Group operates a number of pension plans for its employees throughout the world. For non-UK employees the Group provides, in most cases, defined
contribution schemes. For employees in the UK, certain businesses acquired as part of the Mannesmann acquisition and in Japan, the Group generally
provides defined benefit schemes. A description of the major defined benefit schemes provided in the UK, Germany and Japan is given in note 34.
Analyses of the net pension cost, plan assets, obligations and funded status for the major defined benefit plans in the UK, Germany and Japan, prepared
under US GAAP, are provided below.