Virgin Media 2013 Annual Report Download - page 104

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VIRGIN MEDIA INC.
(See note 1)
Notes to Consolidated Financial Statements — (Continued)
December 31, 2013, 2012 and 2011
II - 79
Predecessor
Period from January 1 to June 7, 2013
Statements of operations Predecessor
Company
Virgin Media
Secured
Finance Guarantors Non-
Guarantors Eliminations Total
in millions
Revenue.................................................... £ — £ — £ 1,703.5 £ 106.7 £ — £ 1,810.2
Operating costs and expenses:
Operating (other than depreciation
and amortization)............................. — — 807.4 38.0 — 845.4
SG&A (including share-based
compensation).................................. 8.4 — 229.8 17.9 — 256.1
Depreciation and amortization............ — — 396.1 36.7 — 432.8
Impairment, restructuring and other
operating items, net ......................... 53.8 — (2.7) 0.1 — 51.2
62.2 — 1,430.6 92.7 — 1,585.5
Operating income (loss).................... (62.2) — 272.9 14.0 — 224.7
Non-operating income (expense):
Interest expense – third-party.............. (55.9) (71.6)(341.9)(155.6) 468.3 (156.7)
Interest income – intercompany.......... — 70.7 230.7 166.9 (468.3) —
Loss on debt modification and
extinguishment, net.......................... (0.1) — — — — (0.1)
Realized and unrealized gains on
derivative instruments, net............... 50.0 — 1.8 — — 51.8
Foreign currency transaction gains
(losses), net...................................... (0.1) — 27.5 0.5 (30.0)(2.1)
Other income, net................................ — — 0.4 — — 0.4
(6.1) (0.9)(81.5) 11.8 (30.0)(106.7)
Earnings (loss) before income
taxes .............................................. (68.3) (0.9) 191.4 25.8 (30.0) 118.0
Income tax expense.................................. — — (18.1) — — (18.1)
Earnings (loss) after income taxes.... (68.3) (0.9) 173.3 25.8 (30.0) 99.9
Equity in net earnings of subsidiaries...... 168.2 — 0.3 142.4 (310.9) —
Net earnings (loss)............................ £ 99.9 £ (0.9) £ 173.6 £ 168.2 £ (340.9) £ 99.9
Total comprehensive earnings
(loss).............................................. £ 83.1 £ (0.9) £ 166.6 £ 161.2 £ (326.9) £ 83.1