Virgin Media 2013 Annual Report Download - page 95

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VIRGIN MEDIA INC.
(See note 1)
Notes to Consolidated Financial Statements — (Continued)
December 31, 2013, 2012 and 2011
II - 70
Predecessor
Year ended December 31, 2011
Statements of operations Predecessor
Company
Virgin
Media
Finance Other
guarantors VMIH VMIL All other
subsidiaries Eliminations Total
in millions
Revenue .......................................... £ — £ — £ — £ — £ — £ 3,991.8 £ — £ 3,991.8
Operating costs and expenses:
Operating (other than
depreciation and
amortization) ............................ — — — — — 1,866.6 — 1,866.6
SG&A (including share-based
compensation) .......................... 13.2 — — — — 522.1 — 535.3
Depreciation and amortization..... — — — — — 1,046.4 — 1,046.4
Impairment, restructuring and
other operating items, net......... — — — — — 6.8 — 6.8
13.2 — — — — 3,441.9 — 3,455.1
Operating income (loss) ............ (13.2) — — — — 549.9 — 536.7
Non-operating income (expense):
Interest expense – third-party....... (66.2) (188.8) (35.7) (382.0) — (1,034.8) 1,267.1 (440.4)
Interest income – intercompany... 3.6 190.4 39.4 178.2 — 855.5 (1,267.1) —
Loss on debt modification and
extinguishment, net .................. — (18.3) — — — (28.9) — (47.2)
Realized and unrealized losses on
derivative instruments, net ....... (43.4) — — (7.3) — — — (50.7)
Foreign currency transaction
gains (losses), net ..................... (0.4) 0.2 (4.2) (0.4) — 2.4 — (2.4)
Other income, net......................... 0.1 — — 0.7 — 96.3 — 97.1
(106.3) (16.5) (0.5) (210.8) — (109.5) — (443.6)
Earnings (loss) from continuing
operations before income
taxes....................................... (119.5) (16.5) (0.5) (210.8) — 440.4 — 93.1
Income tax benefit (expense).......... — — (0.3) (23.3) — 7.6 — (16.0)
Earnings (loss) from continuing
operations after income
taxes....................................... (119.5) (16.5) (0.8) (234.1) — 448.0 — 77.1
Loss on discontinued operation,
net of tax ..................................... — — — — — (1.2) — (1.2)
Equity in net earnings of
subsidiaries.................................. 195.4 187.7 196.3 422.0 496.7 — (1,498.1) —
Net earnings............................... £ 75.9 £ 171.2 £ 195.5 £ 187.9 £ 496.7 £ 446.8 £ (1,498.1) £ 75.9
Total comprehensive earnings... £ 19.4 £ 127.5 £ 151.2 £ 144.2 £ 499.5 £ 449.6 £ (1,372.0) £ 19.4