Virgin Media 2013 Annual Report Download - page 103

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VIRGIN MEDIA INC.
(See note 1)
Notes to Consolidated Financial Statements — (Continued)
December 31, 2013, 2012 and 2011
II - 78
Successor
Period from June 8 to December 31, 2013
Statements of operations Successor
Company
Virgin Media
Secured
Finance Guarantors Non-
Guarantors Eliminations Total
in millions
Revenue................................................... £ — £ — £ 2,167.3 £ 142.9 £ — £ 2,310.2
Operating costs and expenses:
Operating (other than depreciation
and amortization) ............................ — — 981.7 70.0 — 1,051.7
SG&A (including share-based
compensation)................................. 1.6 — 360.2 18.3 — 380.1
Depreciation and amortization............ — — 813.1 97.1 — 910.2
Impairment, restructuring and other
operating items, net......................... 0.6 — 33.9 2.0 — 36.5
2.2 — 2,188.9 187.4 — 2,378.5
Operating loss................................... (2.2) — (21.6)(44.5) — (68.3)
Non-operating income (expense):
Interest expense: .................................
Third-party....................................... (9.1) (133.7)(120.8) — — (263.6)
Related-party.................................... (99.3) — (410.7)(394.3) 898.5 (5.8)
Interest income – related-party and
intercompany................................... 0.2 170.9 435.4 399.0 (898.5) 107.0
Gain (loss) on debt modification and
extinguishment, net......................... — 1.0 (0.4) — — 0.6
Realized and unrealized gains
(losses) on derivative instruments,
net.................................................... 27.0 — (230.4) — — (203.4)
Realized and unrealized gains
(losses) on intercompany
derivative instruments, net.............. —(29.6) 29.6 — — —
Foreign currency transaction gains,
net.................................................... 27.0 34.4 48.6 10.0 22.6 142.6
Other income, net................................ 0.2 — 0.2 — — 0.4
(54.0) 43.0 (248.5) 14.7 22.6 (222.2)
Earnings (loss) before income
taxes.............................................. (56.2) 43.0 (270.1)(29.8) 22.6 (290.5)
Income tax expense ................................. — — (197.5) — — (197.5)
Earnings (loss) after income taxes ... (56.2) 43.0 (467.6)(29.8) 22.6 (488.0)
Equity in net earnings (loss) of
subsidiaries........................................... (431.8) — 106.8 (401.9) 726.9 —
Net earnings (loss)............................ £ (488.0) £ 43.0 £ (360.8) £ (431.7) £ 749.5 £ (488.0)
Total comprehensive earnings
(loss) ............................................. £ (342.4) £ 43.0 £ (374.5) £ (439.9) £ 771.4 £ (342.4)