Virgin Media 2014 Annual Report Download - page 36

Download and view the complete annual report

Please find page 36 of the 2014 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 75

  • 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

VIRGIN MEDIA INC.
(See note 1)
Notes to Condensed Consolidated Financial Statements — (Continued)
June 30, 2014
(unaudited)
34
Successor
Three months ended June 30, 2014
Statements of operations Virgin
Media
Virgin
Media
Finance Other
guarantors VMIH VMIL All other
subsidiaries Eliminations Total
in millions
Revenue ............................................ £ — £ — £ — £ — £ — £ 1,054.4 £ — £ 1,054.4
Operating costs and expenses:
Operating (other than depreciation
and amortization) ....................... — — — — — 453.4 — 453.4
SG&A (including share-based
compensation)............................ 1.0 — — — — 148.2 — 149.2
Depreciation and amortization....... — — — — — 405.2 — 405.2
Impairment, restructuring and
other operating items, net........... — — — — — 7.2 — 7.2
1.0 — — — — 1,014.0 — 1,015.0
Operating income (loss) .............. (1.0) — — — — 40.4 — 39.4
Non-operating income (expense):
Interest expense:
Third-party................................... (2.7) (21.4) — (2.7) — (88.9) — (115.7)
Intercompany ............................... (46.2) (1.4) (2.8) (85.8) —(268.8) 405.0 —
Interest income – related-party and
intercompany.............................. 7.9 15.4 3.5 71.8 — 363.1 (405.0) 56.7
Gain (loss) on debt modification
and extinguishment, net –
intercompany.............................. — — — (57.1) — 57.1 — —
Realized and unrealized losses on
derivative instruments, net......... (3.3) — — (67.2) — — — (70.5)
Realized and unrealized gains
(losses) on derivative
instruments, net –
intercompany.............................. — (3.7) — 10.6 — (6.9) — —
Foreign currency transaction gains
(losses), net ................................ (1.9) 7.3 (4.4) 27.4 — 1.7 19.5 49.6
Other income, net........................... — — — — — 0.1 — 0.1
(46.2) (3.8) (3.7) (103.0) — 57.4 19.5 (79.8)
Earnings (loss) before income
taxes......................................... (47.2) (3.8) (3.7) (103.0) — 97.8 19.5 (40.4)
Income tax expense .......................... — — (0.1) — — (0.4) — (0.5)
Earnings (loss) after income
taxes......................................... (47.2) (3.8) (3.8) (103.0) — 97.4 19.5 (40.9)
Equity in net earnings of
subsidiaries ................................... 6.4 9.3 10.1 92.8 7.9 — (126.5) —
Net earnings (loss)....................... £ (40.8) £ 5.5 £ 6.3 £ (10.2) £ 7.9 £ 97.4 £ (107.0) £ (40.9)
Total comprehensive earnings
(loss)........................................ £ (13.2) £ 0.9 £ 3.3 £ (14.8) £ 3.3 £ 92.9 £ (85.6) £ (13.2)