Virgin Media 2014 Annual Report Download - page 41

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VIRGIN MEDIA INC.
(See note 1)
Notes to Condensed Consolidated Financial Statements — (Continued)
June 30, 2014
(unaudited)
39
Predecessor
Period from January 1 to June 7, 2013
Statements of operations
Old
Virgin
Media
Virgin
Media
Finance Other
guarantors VMIH VMIL All other
subsidiaries Eliminations Total
in millions
Revenue .............................. £ — £ — £ — £ — £ — £ 1,810.2 £ — £ 1,810.2
Operating costs and
expenses:
Operating (other than
depreciation and
amortization)................. — — — — — 845.4 — 845.4
SG&A (including share-
based compensation)..... 8.4 — — — — 247.7 — 256.1
Depreciation and
amortization.................. — — — — — 432.8 — 432.8
Impairment, restructuring
and other operating
items, net....................... 53.8 — — — — (2.6) — 51.2
62.2 — — — — 1,523.3 — 1,585.5
Operating income (loss) ... (62.2) — — — — 286.9 — 224.7
Non-operating income
(expense):
Interest expense – third-
party.............................. (55.9) (54.1) (4.8) (127.2) — (371.3) 456.6 (156.7)
Interest income –
intercompany ................ — 53.6 6.0 62.7 — 334.3 (456.6) —
Realized and unrealized
gains on derivative
instruments, net............. 50.0 — — 1.8 — — — 51.8
Foreign currency
transaction gains
(losses), net ................... (0.1) 2.6 5.6 23.7 — (3.9)(30.0)(2.1)
Other income (expense),
net ................................. (0.1) — — 0.2 — 0.2 — 0.3
(6.1) 2.1 6.8 (38.8) — (40.7)(30.0)(106.7)
Earnings (loss) before
income taxes............... (68.3) 2.1 6.8 (38.8) — 246.2 (30.0) 118.0
Income tax expense............. — — — (0.7) — (17.4) — (18.1)
Earnings (loss) after
income taxes............... (68.3) 2.1 6.8 (39.5) — 228.8 (30.0) 99.9
Equity in net earnings of
subsidiaries...................... 168.2 140.2 161.2 209.7 222.9 — (902.2) —
Net earnings ................... £ 99.9 £ 142.3 £ 168.0 £ 170.2 £ 222.9 £ 228.8 £ (932.2) £ 99.9
Total comprehensive
earnings ...................... £ 83.1 £ 135.3 £ 161.0 £ 163.2 £ 223.5 £ 229.4 £ (912.4) £ 83.1