Virgin Media 2008 Annual Report Download - page 165
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VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions)
Year ended December 31,
2008 2007 2006
Revenue .............................................. £3,905.1 £3,959.4 £2,997.1
Costs and expenses
Operating costs (exclusive of depreciation shown separately below) . . 1,780.6 1,784.9 1,328.9
Selling, general and administrative expenses ................... 837.5 900.5 721.5
Restructuring and other charges ........................... 22.0 27.2 62.2
Depreciation ......................................... 884.6 902.9 665.4
Amortization ......................................... 294.6 305.6 203.9
Goodwill and intangible asset impairments .................... 417.0 — —
4,236.3 3,921.1 2,981.9
Operating (loss) income ................................... (331.2) 38.3 15.2
Other income (expense)
Interest income and other, net ............................ 27.6 17.6 22.8
Interest income from group companies ...................... 8.4 5.3 7.4
Interest expense ....................................... (366.6) (420.3) (265.5)
Interest expense to group companies ........................ (152.4) (111.6) (106.8)
Loss on extinguishment of debt ............................ (9.6) (3.2) (32.8)
Share of income from equity investments ..................... 14.4 17.7 8.1
Gains (losses) on derivative instruments ...................... 283.7 (2.5) 1.3
Foreign currency (losses) gains ............................ (456.2) (8.0) 6.9
Loss before income taxes, minority interest and cumulative effect of
changes in accounting principle ........................... (981.9) (466.7) (343.4)
Income tax benefit (expense) ............................... 9.9 (0.6) 1.8
Minority interest ........................................ (0.7) — 1.0
Loss before cumulative effect of changes in accounting principle .... (972.7) (467.3) (340.6)
Cumulative effect of changes in accounting principle .............. — — (31.7)
Net loss .............................................. £(972.7) £(467.3) £(372.3)
See accompanying notes.
F-71