Virgin Media 2010 Annual Report Download - page 70

In 2009, we received refunds of £0.1 million in respect of U.S. state and local taxes. In 2008, we received
refunds of £1.3 million in respect of pre-acquisition periods of Virgin Mobile, and we paid £0.1 million in
respect of U.S. state and local taxes in 2008.
Loss From Continuing Operations
For the year ended December 31, 2009, loss from continuing operations decreased to £350.3 million from a
loss of £827.4 million for the same period in 2008 due to the factors discussed above.
Loss From Discontinued Operations
For the year ended December 31, 2009, net loss from discontinued operations was £7.5 million compared
with a loss of £92.6 million for the year ended December 31, 2008. Included in the loss for the year ended
December 31, 2008 is an impairment loss of goodwill and intangible assets related to our sit-up business.
In September 2008, our sit-up reporting unit received notification that one of its two licenses to broadcast
over Freeview digital terrestrial television would not be renewed in January 2009. Along with this, the downturn
in the economy had a negative impact on sit-up’s business. Management performed a review of the implications
of these changes on sit-up’s business model and, as a result, an interim goodwill impairment review was
performed. This review resulted in an impairment charge being recognized of £14.9 million in relation to
intangible assets and £39.9 million in relation to goodwill in the year ended December 31, 2008. These
impairment charges are included within the loss from discontinued operations.
Loss From Continuing Operations Per Share
Basic and diluted loss from continuing operations per common share for the year ended December 31, 2009
was £1.07 compared to £2.52 for the year ended December 31, 2008. Basic and diluted loss per share is
computed using a weighted average of 328.8 million shares issued and outstanding in the year ended
December 31, 2009 and a weighted average of 328.0 million shares issued and outstanding for the same period in
2008. Options, warrants, shares issuable under the convertible senior notes and shares of restricted stock held in
escrow outstanding at December 31, 2009 and 2008 are excluded from the calculation of diluted loss per share,
since these securities are anti-dilutive.
Segmental Results of Operations for the Years Ended December 31, 2009 and 2008
Consumer Segment
The summary combined results of operations of our Consumer segment for the years ended December 31,
2009 and 2008 were as follows (in millions):
Year ended
December 31,
2009 2008
Increase/
(Decrease)
Revenue .............................................. £3,083.1 £3,029.0 1.8%
Segment contribution ................................... 1,841.9 1,803.6 2.1
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