Virgin Media 2013 Annual Report Download - page 94

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VIRGIN MEDIA INC.
(See note 1)
Notes to Consolidated Financial Statements — (Continued)
December 31, 2013, 2012 and 2011
II - 69
Predecessor (a)
Year ended December 31, 2012
Statements of operations Predecessor
Company
Virgin
Media
Finance Other
guarantors VMIH VMIL All other
subsidiaries Eliminations Total
in millions
Revenue............................... £ — £ — £ — £ — £ — £ 4,100.5 £ — £ 4,100.5
Operating costs and
expenses:
Operating (other than
depreciation and
amortization)................. — — — — — 1,872.9 — 1,872.9
SG&A (including share-
based compensation)..... 15.3 — — — — 558.9 — 574.2
Depreciation and
amortization.................. — — — — — 966.4 — 966.4
Impairment, restructuring
and other operating
items, net....................... — — — — — (11.8) — (11.8)
15.3 — — — — 3,386.4 — 3,401.7
Operating income
(loss)........................... (15.3) — — — — 714.1 — 698.8
Non-operating income
(expense):
Interest expense – third-
party.............................. (112.4) (155.2) (10.9) (344.4) — (938.9) 1,163.6 (398.2)
Interest income –
intercompany ................ — 167.2 15.5 185.8 — 795.1 (1,163.6) —
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 losses, net ... (0.1) (7.8) (2.8) (24.5) — (4.5) 33.4 (6.3)
Other income, net ............. — — — 0.4 — 6.4 — 6.8
61.7 (183.6) 1.8 (208.8) — (141.9) 33.4 (437.4)
Earnings (loss) before
income taxes............... 46.4 (183.6) 1.8 (208.8) — 572.2 33.4 261.4
Income tax benefit
(expense) ......................... — — 0.1 (0.6) — 2,652.5 — 2,652.0
Earnings (loss) after
income taxes............... 46.4 (183.6) 1.9 (209.4) — 3,224.7 33.4 2,913.4
Equity in net earnings of
subsidiaries...................... 2,867.0 2,963.2 2,865.0 3,139.2 3,137.2 — (14,971.6) —
Net earnings ................... £ 2,913.4 £ 2,779.6 £ 2,866.9 £ 2,929.8 £ 3,137.2 £ 3,224.7 £ (14,938.2) £ 2,913.4
Total comprehensive
earnings...................... £ 2,877.6 £ 2,732.5 £ 2,822.0 £ 2,882.6 £ 3,137.8 £ 3,225.3 £ (14,800.2) £ 2,877.6
_________________
(a) As retrospectively revised - see note 2.