Virgin Media 2013 Annual Report Download - page 105

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VIRGIN MEDIA INC.
(See note 1)
Notes to Consolidated Financial Statements — (Continued)
December 31, 2013, 2012 and 2011
II - 80
Predecessor (a)
Year ended December 31, 2012
Statements of operations Predecessor
Company
Virgin Media
Secured
Finance Guarantors Non-
Guarantors Eliminations Total
in millions
Revenue................................................. £ — £ — £ 3,854.8 £ 245.7 £ — £ 4,100.5
Operating costs and expenses:
Operating (other than depreciation
and amortization).......................... — — 1,774.0 98.9 — 1,872.9
SG&A (including share-based
compensation)............................... 15.3 — 529.1 29.8 — 574.2
Depreciation and amortization ......... — — 876.7 89.7 — 966.4
Impairment, restructuring and other
operating items, net....................... — — (14.3) 2.5 — (11.8)
15.3 — 3,165.5 220.9 — 3,401.7
Operating income (loss)................. (15.3) — 689.3 24.8 — 698.8
Non-operating income (expense):
Interest expense – third-party........... (112.4) (162.0)(928.0)(393.6) 1,197.8 (398.2)
Interest income – intercompany....... — 163.5 606.3 428.0 (1,197.8) —
Loss on debt modification and
extinguishment, net....................... — — (187.8) — — (187.8)
Realized and unrealized gains
(losses) on derivative
instruments, net............................. 174.2 — (26.1) — — 148.1
Foreign currency transaction gains
(losses), net ................................... (0.1) — (46.6) 7.0 33.4 (6.3)
Other income, net............................. — — 6.8 — — 6.8
61.7 1.5 (575.4) 41.4 33.4 (437.4)
Earnings before income taxes........ 46.4 1.5 113.9 66.2 33.4 261.4
Income tax benefit................................. — — 2,651.9 0.1 — 2,652.0
Earnings after income taxes........... 46.4 1.5 2,765.8 66.3 33.4 2,913.4
Equity in net earnings of subsidiaries ... 2,867.0 — 70.4 2,800.8 (5,738.2) —
Net earnings ................................... £ 2,913.4 £ 1.5 £ 2,836.2 £ 2,867.1 £ (5,704.8) £ 2,913.4
Total comprehensive earnings........ £ 2,877.6 £ 1.5 £ 2,789.0 £ 2,821.9 £ (5,612.4) £ 2,877.6
_________________
(a) As retrospectively revised - see note 2.