Virgin Media 2014 Annual Report Download - page 39

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VIRGIN MEDIA INC.
(See note 1)
Notes to Condensed Consolidated Financial Statements — (Continued)
June 30, 2014
(unaudited)
37
Successor
Six 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................................... £ — £ — £ — £ — £ — £ 2,098.2 £ — £ 2,098.2
Operating costs and expenses:
Operating (other than
depreciation and
amortization)..................... — — — — — 917.8 — 917.8
SG&A (including share-
based compensation)......... 2.0 — — — — 293.5 — 295.5
Depreciation and
amortization...................... — — — — — 814.1 — 814.1
Impairment, restructuring
and other operating items,
net ..................................... — — — — — 12.7 — 12.7
2.0 — — — — 2,038.1 — 2,040.1
Operating income (loss)........ (2.0) — — — — 60.1 — 58.1
Non-operating income
(expense):
Interest expense:
Third-party.......................... (5.9) (42.9) — (5.0) — (176.1) — (229.9)
Intercompany...................... (90.9) (2.5) (5.5) (172.3) — (531.8) 803.0 —
Interest income – related-
party and intercompany .... 11.2 30.9 7.0 141.8 — 720.9 (803.0) 108.8
Gain (loss) on debt
modification and
extinguishment, net –
intercompany .................... — — — (57.1) — 57.1 — —
Realized and unrealized
losses on derivative
instruments, net................. (2.0) — — (144.6) — — — (146.6)
Realized and unrealized
gains (losses) on
derivative instruments, net
– intercompany ................. — (7.4) — 29.9 — (22.5) — —
Foreign currency transaction
gains (losses), net.............. 1.5 9.3 (5.6) 35.3 — 5.1 24.0 69.6
Other income, net ................. — — 0.5 — — 0.2 — 0.7
(86.1) (12.6) (3.6) (172.0) — 52.9 24.0 (197.4)
Earnings (loss) before
income taxes................... (88.1) (12.6) (3.6) (172.0) — 113.0 24.0 (139.3)
Income tax benefit
(expense) ............................. — — (0.1) — — 14.7 — 14.6
Earnings (loss) after
income taxes................... (88.1) (12.6) (3.7) (172.0) — 127.7 24.0 (124.7)
Equity in net earnings (loss)
of subsidiaries...................... (36.5) (26.8) (32.8) 121.1 25.3 — (50.3) —
Net earnings (loss) ............. £ (124.6) £ (39.4) £ (36.5) £ (50.9) £ 25.3 £ 127.7 £ (26.3) £ (124.7)
Total comprehensive
earnings (loss)................ £ (87.6) £ (45.1) £ (40.2) £ (56.6) £ 19.6 £ 122.1 £ 0.2 £ (87.6)