Virgin Media 2014 Annual Report Download - page 40

Download and view the complete annual report

Please find page 40 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)
38
Successor
Period from June 8 to June 30, 2013
Statements of operations Virgin
Media
Virgin
Media
Finance Other
guarantors VMIH VMIL All other
subsidiaries Eliminations Total
in millions
Revenue ............................................ £ — £ — £ — £ — £ — £ 259.0 £ — £ 259.0
Operating costs and expenses:
Operating (other than depreciation
and amortization) ....................... — — — — — 112.6 — 112.6
SG&A (including share-based
compensation)............................ 2.3 — 0.7 — — 53.4 — 56.4
Depreciation and amortization....... — — — — — 92.7 — 92.7
Impairment, restructuring and
other operating items, net........... — — — — — 5.4 — 5.4
2.3 — 0.7 — — 264.1 — 267.1
Operating loss ................................ (2.3) — (0.7) — — (5.1) — (8.1)
Non-operating income (expense):
Interest expense:
Third-party................................... (3.3) (7.1) — 2.5 — (24.2) — (32.1)
Related-party and
intercompany............................ (12.3) (0.3) (0.7) (39.7) — (55.7) 105.1 (3.6)
Interest income – related-party and
intercompany.............................. — 14.9 0.9 35.2 — 64.8 (105.1) 10.7
Realized and unrealized gains on
derivative instruments, net......... 42.9 — — 77.3 — — — 120.2
Foreign currency transaction gains
(losses), net ................................ 7.6 (8.0) 0.9 (29.7) — 12.2 (6.2) (23.2)
Other income (expense), net .......... — (0.3) — — — 1.3 — 1.0
34.9 (0.8) 1.1 45.6 — (1.6) (6.2) 73.0
Earnings (loss) before income
taxes......................................... 32.6 (0.8) 0.4 45.6 — (6.7) (6.2) 64.9
Income tax expense .......................... — — — — — (6.5) — (6.5)
Earnings (loss) after income
taxes......................................... 32.6 (0.8) 0.4 45.6 — (13.2) (6.2) 58.4
Equity in net earnings (loss) of
subsidiaries ................................... 25.8 31.2 25.4 (8.1) (30.5) — (43.8) —
Net earnings (loss)....................... £ 58.4 £ 30.4 £ 25.8 £ 37.5 £ (30.5) £ (13.2) £ (50.0) £ 58.4
Total comprehensive earnings
(loss)........................................ £ (10.0) £ 34.6 £ 29.9 £ 41.4 £ (26.3) £ (9.1) £ (70.5) £ (10.0)