Virgin Media 2013 Annual Report Download - page 63

Download and view the complete annual report

Please find page 63 of the 2013 Virgin Media annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 139

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139

VIRGIN MEDIA INC.
(See note 1)
Notes to Consolidated Financial Statements — (Continued)
December 31, 2013, 2012 and 2011
II - 38
(8) Income Taxes
Virgin Media files tax returns in the U.S. and the U.K. The income taxes of Virgin Media and its subsidiaries are presented
in our financial statements based on a separate return basis for each tax-paying entity or group.
The components of our earnings (loss) from continuing operations before income taxes are as follows (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
Year ended
December 31,
2011
U.S. .............................................................................................. £(56.6) £ (68.8) £ 45.4 £ (122.4)
U.K............................................................................................... (233.9) 186.8 216.0 215.5
Total........................................................................................... £(290.5) £ 118.0 £ 261.4 £ 93.1
Income tax benefit (expense) consists of:
Current Deferred Total
in millions
Period from June 8 to December 31, 2013:
U.S. (a) ................................................................................................................... £(0.3) £ (1.9) £ (2.2)
U.K......................................................................................................................... —(195.3)(195.3)
Total................................................................................................................... £(0.3) £ (197.2) £ (197.5)
Period from January 1 to June 7, 2013:
U.S. (a) ................................................................................................................... £(0.9) £ 12.8 £ 11.9
U.K......................................................................................................................... —(30.0)(30.0)
Total................................................................................................................... £(0.9) £ (17.2) £ (18.1)
Year ended December 31, 2012 (b):
U.S. (a) ................................................................................................................... £(0.6) £ 103.4 £ 102.8
U.K......................................................................................................................... 0.1 2,549.1 2,549.2
Total................................................................................................................... £(0.5) £ 2,652.5 £ 2,652.0
Year ended December 31, 2011:
U.S. (a) ................................................................................................................... £(1.0) £ 3.2 £ 2.2
U.K......................................................................................................................... 5.1 (23.3)(18.2)
Total................................................................................................................... £ 4.1 £ (20.1) £ (16.0)
_______________
(a) Includes federal and state income taxes. Our U.S. state income taxes were not material during any of the years presented.
(b) As retrospectively revised - see note 2.