Virgin Media 2013 Annual Report Download - page 30

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II - 5
VIRGIN MEDIA INC.
(See note 1)
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions)
Successor Predecessor
Period from
June 8 to
December 31,
2013
Period from
January 1
to June 7,
2013
Year ended
December 31,
2012 (a)
Year ended
December 31,
2011
Revenue.......................................................................................... £ 2,310.2 £ 1,810.2 £ 4,100.5 £ 3,991.8
Operating costs and expenses:
Operating (other than depreciation and amortization) .............. 1,051.7 845.4 1,872.9 1,866.6
Selling, general and administrative (SG&A) (including share-
based compensation) (note 10).............................................. 380.1 256.1 574.2 535.3
Depreciation and amortization.................................................. 910.2 432.8 966.4 1,046.4
Impairment, restructuring and other operating items, net......... 36.5 51.2 (11.8) 6.8
2,378.5 1,585.5 3,401.7 3,455.1
Operating income (loss).......................................................... (68.3) 224.7 698.8 536.7
Non-operating income (expense):
Interest expense:
Third-party.............................................................................. (263.6)(156.7)(398.2)(440.4)
Related-party (note 11)........................................................... (5.8) — — —
Interest income – related-party (note 11).................................. 107.0 — — —
Gain (loss) on debt modification and extinguishment, net ....... 0.6 (0.1)(187.8)(47.2)
Realized and unrealized gains (losses) on derivative
instruments, net (note 4)........................................................ (203.4) 51.8 148.1 (50.7)
Foreign currency transaction gains (losses), net ....................... 142.6 (2.1)(6.3)(2.4)
Other income, net...................................................................... 0.4 0.4 6.8 97.1
(222.2)(106.7)(437.4)(443.6)
Earnings (loss) from continuing operations before income
taxes .................................................................................... (290.5) 118.0 261.4 93.1
Income tax benefit (expense) (note 8) ........................................... (197.5)(18.1) 2,652.0 (16.0)
Earnings (loss) from continuing operations............................ (488.0) 99.9 2,913.4 77.1
Loss from discontinued operation, net of tax (note 1)................... — — — (1.2)
Net earnings (loss).................................................................. £(488.0) £ 99.9 £ 2,913.4 £ 75.9
_______________
(a) As retrospectively revised - see note 2.
The accompanying notes are an integral part of these consolidated financial statements.