Virgin Media 2007 Annual Report Download - page 153
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VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions)
Year ended December 31,
2007 2006 2005
Revenue .............................................. £3,959.4 £2,997.1 £1,825.9
Costs and expenses
Operating costs (exclusive of depreciation shown separately below) . . 1,784.9 1,328.9 761.0
Selling, general and administrative expenses ................... 900.5 721.5 430.1
Other charges ........................................ 27.2 62.2 23.7
Depreciation ......................................... 902.9 665.4 517.3
Amortization ......................................... 305.6 203.9 101.8
3,921.1 2,981.9 1,833.9
Operating income (loss) ................................... 38.3 15.2 (8.0)
Other income (expense)
Interest income and other, net ............................ 17.6 22.8 10.1
Interest income from group companies ...................... 5.3 7.4 2.1
Interest expense ....................................... (420.3) (265.5) (158.9)
Interest expense to group companies ........................ (111.6) (106.8) (94.1)
Loss on extinguishment of debt ............................ (3.2) (32.8) —
Share of income from equity investments ..................... 17.7 8.1 —
(Loss) gain on derivative instruments ........................ (2.5) 1.3 0.9
Foreign currency transaction (losses) gains .................... (8.0) 6.9 17.9
Loss from continuing operations before income taxes, minority interest
and cumulative effect of changes in accounting principle ......... (466.7) (343.4) (230.0)
Income tax (expense) benefit ............................... (0.6) 1.8 —
Minority interest ........................................ — 1.0 (1.0)
Loss from continuing operations ............................ (467.3) (340.6) (231.0)
Discontinued operations
Income from discontinued operations before income taxes ........ — — 5.7
Income tax expense .................................... — — (0.2)
Gain on disposal of assets ................................ — — 659.1
Income from discontinued operations ....................... — — 664.6
Cumulative effect of changes in accounting principle ............ — (31.7) —
Net (loss) income ....................................... £(467.3) £ (372.3) £ 433.6
See accompanying notes.
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