Virgin Media 2013 Annual Report Download - page 106

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VIRGIN MEDIA INC.
(See note 1)
Notes to Consolidated Financial Statements — (Continued)
December 31, 2013, 2012 and 2011
II - 81
Predecessor
Year ended December 31, 2011
Statements of operations Predecessor
Company
Virgin Media
Secured
Finance Guarantors Non-
Guarantors Eliminations Total
in millions
Revenue................................................. £ — £ — £ 3,534.5 £ 457.3 £ — £ 3,991.8
Operating costs and expenses:
Operating (other than depreciation
and amortization) .......................... — — 1,538.2 328.4 — 1,866.6
SG&A (including share-based
compensation)............................... 13.2 — 490.8 31.3 — 535.3
Depreciation and amortization.......... — — 922.1 124.3 — 1,046.4
Impairment, restructuring and other
operating items, net....................... — — 4.9 1.9 — 6.8
13.2 — 2,956.0 485.9 — 3,455.1
Operating income (loss) ................. (13.2) — 578.5 (28.6) — 536.7
Non-operating income (expense):
Interest expense – third-party ........... (66.2) (152.3)(1,050.1)(443.5) 1,271.7 (440.4)
Interest income – intercompany........ 3.6 153.8 687.1 427.2 (1,271.7) —
Loss on debt modification and
extinguishment, net....................... — — (47.2) — — (47.2)
Realized and unrealized losses on
derivative instruments, net............ (43.4) — (7.3) — — (50.7)
Foreign currency transaction gains
(losses), net.................................... (0.4) — 22.7 (24.7) — (2.4)
Other income, net.............................. 0.1 — 78.0 19.0 — 97.1
(106.3) 1.5 (316.8)(22.0) — (443.6)
Earnings (loss) before income
taxes............................................ (119.5) 1.5 261.7 (50.6) — 93.1
Income tax benefit (expense)................. — — (18.9) 2.9 — (16.0)
Earnings (loss) after income
taxes............................................ (119.5) 1.5 242.8 (47.7) — 77.1
Loss of discontinued operation, net of
tax....................................................... — — — (1.2) — (1.2)
Equity in net earnings (loss) of
subsidiaries......................................... 195.4 — (34.9) 244.3 (404.8) —
Net earnings.................................... £ 75.9 £ 1.5 £ 207.9 £ 195.4 £ (404.8) £ 75.9
Total comprehensive earnings........ £ 19.4 £ 1.5 £ 164.2 £ 151.1 £ (316.8) £ 19.4