Index
Accounting and presentation changes 26, 27, 66, 93
Glossary of terms and US equivalents 117
Accounting policies 59-61
Intangible assets 73
Additional information for shareholders 109-115
Interest 31, 32, 34, 59, 69, 106
Auditors’ remuneration 90
Internal financial control 45, 46
Auditors’ report to shareholders 58
Internet 14, 15
Balance sheets 65
Investments 3, 34, 60, 75-78
BT Deferred Bonus Plan 48, 89
Joint ventures and associates 3, 6, 10, 11, 31, 35, 66, 69, 103
BT Executive Share Plan 47, 48, 89
Legal proceedings 23, 85
BT Performance Share Plan 47, 48, 51, 89
Licence 20-23, 34
Business practice, statement of 46
Listings 109
Business review 8-23
Loans and other borrowings 79, 80
Call volume growth 12, 13, 107
MCI share sale 3, 31, 76
Capital expenditure 3, 16, 17, 34, 106
Management of liquid resources 72
Cash flow statement 64
Marketing, promotion and pricing offers 15, 16
Cautionary statement 1
Minority interests 71
Chairman’s message 5
Mobile communications 3, 6, 7, 13, 14, 23, 28, 29, 107
Chief Executive’s statement 6-7
Net debt 32, 34, 64, 72
Classified directory business 14, 107
Network modernisation 6, 16, 17
Community 18, 19, 112
Other operating income 30, 67
Competition and the UK economy 27, 28
Operating profit 3, 31
Concert 6, 9, 10, 30, 31
Operating costs 30, 31, 68
Contact details 115
Operational statistics and regulatory information 107
Contingent liabilities 85
Optical fibre 107
Corporate governance 44-46
Organisation 17, 18, 94
Creditors 42, 80
Payphones 14, 107
Cross reference to Form 20-F 118-119
Pensions 36, 46, 48, 60, 68, 81, 86
Customer satisfaction and quality of service 15
Price control 21, 22, 27
Debtors 78
Profit after tax 3, 32
Depreciation 59, 60, 68, 73, 74
Profit before tax 3, 32
Directors 40, 41
Profit and loss account 62
Emoluments 50, 87
Provisions for liabilities and charges 66, 81
Interests in shares 52-54
Publications 114
Proposed for election or re-election at AGM 42
Quarterly analysis of turnover and profit 104, 105
Remuneration, report on 47-55
Reconciliation of movement in shareholders’ funds 83, 84
Report 42, 43
Reconciliation of operating profit to operating cash flows 72
Responsibility statement 57
Redundancy costs 24, 31, 60, 68
Dividend investment plan 112
Regulation, competition and prices 19-23, 27
Dividends 3, 5, 32, 71, 106, 111, 112
Research and development 17, 59, 68, 106
Earnings per share 3, 5, 32, 66, 71, 106
Return on capital employed 36, 106
Economic and Monetary Union 38
Risk management 90-93
Education 19
Segmented information 36, 37, 94-96
Employee share schemes 87-89
Shareholdings analysis 110
Employees 17, 18, 87
Share and ADS prices 109
Environment 19, 36
Share capital 82
Exchange controls 113
Share dividend plan 111
Exchange lines 11, 12, 28, 29, 107
Share option schemes 87-89
Financial calendar 112
Staff costs 30, 68
Financial commitments 85
Statement of total recognised gains and losses 63
Financial highlights 3
Stocks 60
Financial instruments 60, 61, 66, 90-93
Subsidiary undertakings 35, 59, 60, 69, 75-77, 102
Financial ratios 106
Substantial shareholdings 42
Financial review 26-39
Suppliers payment policy 42
Financial statistics 106
Tangible fixed assets 37, 59, 60, 73, 74
Financing 32, 33
Taxation 32, 60, 70, 81
Five year financial summary 24-25
Taxation (US Holders) 112, 113
Foreign currencies 34, 59, 68, 112
Total shareholder return 47, 48, 110
Gearing 106
Treasury policy 33, 34
Global venture with AT&T 3, 8, 9, 35
Turnover 3, 5, 9, 28-30, 42, 59, 67
Going concern 34
US GAAP 38, 39, 97-101
Goodwill 59, 66, 73, 83, 84
Year 2000 19, 37, 38, 68
119