Pearson plc homepageinvestor relations
  Pearson Annual Report 2001    

Notes to the Accounts

   
 

23. Other provisions for liabilities and charges



all figures in millions post-
retirement
deferred
consideration
integration reorganisations leases other total


At 31 December 2000 109 56 39 16 20 17 257
Exchange differences 1 1 1 3
Subsidiary undertakings acquired/disposed 5 3 8
Deferred consideration arising on acquisitions 10 10
Transfer from creditors (1) (1)
Released (2) (3) (2) (7)
Provided 39 16 22 2 3 82
Utilised (31) (42) (25) (6) (3) (6) (113)


At 31 December 2001 123 25 29 29 19 14 239


note
a. Post-retirement provisions are in respect of pensions, 61m (2000: 46m) and post-retirement medical benefits, 62m (2000: 63m).
b. Deferred consideration. During the year, 30m of the balance was utilised in respect of the purchase of Forum in 2000. The balance is expected to be utilised during 2002.
c. Integration. 14m has been provided relating to the acquisitions of Dorling Kindersley and NCS in 2000. During the year, 25m has been utilised mainly in respect of the integration of Simon & Schuster, Dorling Kindersley and NCS. The balance is expected to be utilised in the year ended 31 December 2002.
d. Reorganisations. 22m has been provided during 2001, mostly relating to the restructuring of the Learning Network. The balance is expected to be utilised during 2002.
e. Lease commitments. These relate primarily to onerous lease contracts, acquired as part of the purchase of subsidiary undertakings, which have expiry dates up to 2010. The provision is based on current occupancy estimates and it has been assumed that the properties will not be sublet.

 
 

*