Virgin Media 2008 Annual Report Download - page 98

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VIRGIN MEDIA INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share data)
Year ended December 31,
2008 2007 2006
Revenue .............................................. £4,015.9 £4,073.7 £3,602.2
Costs and expenses
Operating costs (exclusive of depreciation shown separately below) . . 1,829.2 1,830.0 1,572.8
Selling, general and administrative expenses ................... 884.3 960.2 906.9
Restructuring and other charges ........................... 22.7 28.7 67.0
Depreciation ......................................... 905.1 924.9 799.1
Amortization ......................................... 296.9 313.3 246.6
Goodwill and intangible asset impairments .................... 417.0 — —
4,355.2 4,057.1 3,592.4
Operating (loss) income ................................... (339.3) 16.6 9.8
Other income (expense)
Interest income and other, net ............................ 27.8 19.5 34.7
Interest expense ....................................... (493.3) (514.2) (457.4)
Loss on extinguishment of debt ............................ (9.6) (3.2) (32.8)
Share of income from equity investments ..................... 14.4 17.7 12.5
Gains (losses) on derivative instruments ...................... 283.7 (2.5) 1.3
Foreign currency (losses) gains ............................ (403.6) 5.1 (90.1)
Loss from continuing operations before income taxes, minority interest
and cumulative effect of changes in accounting principle ......... (919.9) (461.0) (522.0)
Income tax benefit (expense) ............................... 6.8 (2.5) 11.8
Minority interest ........................................ (0.7) — 1.0
Loss from continuing operations ............................ (913.8) (463.5) (509.2)
Discontinued operations
Gain on disposal ...................................... — — 7.9
Income from discontinued operations ....................... — — 7.9
Cumulative effect of changes in accounting principle .............. — — (32.6)
Net loss .............................................. £(913.8) £ (463.5) £ (533.9)
Basic and diluted loss from continuing operations per common share . £ (2.79) £ (1.42) £ (1.74)
Basic and diluted profit from discontinued operations per common
share ............................................... £ — £ — £ 0.03
Basic and diluted loss from cumulative effect of changes in accounting
principle per share ..................................... £ — £ — £ (0.11)
Basic and diluted net loss per common share ................... £ (2.79) £ (1.42) £ (1.82)
Dividends per share (in U.S. dollars) ......................... $ 0.16 $ 0.13 $ 0.05
Average number of shares outstanding ........................ 328.0 325.9 292.9
See accompanying notes.
F-4