Virgin Media 2014 Annual Report Download - page 48

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VIRGIN MEDIA INC.
(See note 1)
Notes to Condensed Consolidated Financial Statements — (Continued)
June 30, 2014
(unaudited)
46
Successor
Three months ended June 30, 2014
Statements of operations Virgin
Media
Virgin Media
Secured
Finance Guarantors Non-
guarantors Eliminations Total
in millions
Revenue................................................... £ — £ — £ 989.3 £ 65.1 £ — £ 1,054.4
Operating costs and expenses:
Operating (other than depreciation
and amortization) ............................ — — 429.2 24.2 — 453.4
SG&A (including share-based
compensation)................................. 1.0 — 140.2 8.0 — 149.2
Depreciation and amortization............ — — 362.0 43.2 — 405.2
Impairment, restructuring and other
operating items, net......................... — — 6.8 0.4 — 7.2
1.0 — 938.2 75.8 — 1,015.0
Operating income (loss) ................... (1.0) — 51.1 (10.7) — 39.4
Non-operating income (expense):
Interest expense:
Third-party....................................... (2.7) (59.1)(53.9) — — (115.7)
Intercompany................................... (46.2) — (191.4)(192.1) 429.7 —
Interest income – related-party and
intercompany................................... 7.9 71.2 220.6 186.7 (429.7) 56.7
Gain (loss) on debt modification and
extinguishment, net –
intercompany................................... — 55.4 (55.4) — — —
Realized and unrealized losses on
derivative instruments, net.............. (3.3) — (67.2) — — (70.5)
Realized and unrealized gains
(losses) on intercompany
derivative instruments, net.............. —(6.8) 6.8 — — —
Foreign currency transaction gains
(losses), net...................................... (1.9) 19.0 16.4 (3.4) 19.5 49.6
Other income (expense), net............... — 4.3 (4.3) 0.1 — 0.1
(46.2) 84.0 (128.4)(8.7) 19.5 (79.8)
Earnings (loss) before income
taxes.............................................. (47.2) 84.0 (77.3)(19.4) 19.5 (40.4)
Income tax expense ................................. — — (0.5) — — (0.5)
Earnings (loss) after income taxes ... (47.2) 84.0 (77.8)(19.4) 19.5 (40.9)
Equity in net earnings of subsidiaries...... 6.4 — 87.5 25.8 (119.7) —
Net earnings (loss)............................ £ (40.8) £ 84.0 £ 9.7 £ 6.4 £ (100.2) £ (40.9)
Total comprehensive earnings
(loss) ............................................. £ (13.2) £ 84.0 £ 5.1 £ 3.5 £ (92.6) £ (13.2)