Virgin Media 2014 Annual Report Download - page 50

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VIRGIN MEDIA INC.
(See note 1)
Notes to Condensed Consolidated Financial Statements — (Continued)
June 30, 2014
(unaudited)
48
Predecessor
Period from April 1, 2013 to June 7, 2013
Statements of operations Old Virgin
Media
Virgin Media
Secured
Finance Guarantors Non-
guarantors Eliminations Total
in millions
Revenue................................................. £ — £ — £ 723.3 £ 44.4 £ — £ 767.7
Operating costs and expenses:
Operating (other than depreciation
and amortization).......................... — — 339.4 16.2 — 355.6
SG&A (including share-based
compensation)............................... 5.6 — 96.5 7.7 — 109.8
Depreciation and amortization ......... — — 169.5 14.0 — 183.5
Impairment, restructuring and other
operating items, net....................... 51.3 — (7.4) 0.1 — 44.0
56.9 — 598.0 38.0 — 692.9
Operating income (loss)................. (56.9) — 125.3 6.4 — 74.8
Non-operating income (expense):
Interest expense – third-party........... (24.2) (30.7)(149.3)(62.8) 199.9 (67.1)
Realized and unrealized losses on
derivative instruments, net............ (47.3) — (4.5) — — (51.8)
Foreign currency transaction gains
(losses), net ................................... — — (41.1) 11.4 29.9 0.2
Other income, net............................. — 29.5 99.0 71.6 (199.9) 0.2
(71.5) (1.2)(95.9) 20.2 29.9 (118.5)
Earnings (loss) before income
taxes............................................ (128.4) (1.2) 29.4 26.6 29.9 (43.7)
Income tax benefit................................. — — 4.6 — — 4.6
Earnings (loss) after income
taxes............................................ (128.4) (1.2) 34.0 26.6 29.9 (39.1)
Equity in net earnings of subsidiaries ... 89.3 — 9.1 62.7 (161.1) —
Net earnings (loss) ......................... £ (39.1) £ (1.2) £ 43.1 £ 89.3 £ (131.2) £ (39.1)
Total comprehensive earnings
(loss)........................................... £ (40.8) £ (1.2) £ 38.2 £ 84.4 £ (121.4) £ (40.8)