Virgin Media 2014 Annual Report Download - page 51

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VIRGIN MEDIA INC.
(See note 1)
Notes to Condensed Consolidated Financial Statements — (Continued)
June 30, 2014
(unaudited)
49
Successor
Six months ended June 30, 2014
Statements of operations Virgin
Media
Virgin Media
Secured
Finance Guarantors Non-
Guarantors Eliminations Total
in millions
Revenue................................................. £ — £ — £ 1,969.0 £ 129.2 £ — £ 2,098.2
Operating costs and expenses:
Operating (other than depreciation
and amortization)............................. — — 868.9 48.9 — 917.8
SG&A (including share-based
compensation).................................. 2.0 — 278.0 15.5 — 295.5
Depreciation and amortization............ — — 725.9 88.2 — 814.1
Impairment, restructuring and other
operating items, net ......................... — — 11.9 0.8 — 12.7
2.0 — 1,884.7 153.4 — 2,040.1
Operating income (loss) ................. (2.0) — 84.3 (24.2) — 58.1
Non-operating income (expense):
Interest expense:
Third-party ........................................ (5.9) (117.7)(106.3) — — (229.9)
Intercompany..................................... (90.9) — (374.6)(369.1) 834.6 —
Interest income – related-party and
intercompany................................... 11.2 146.4 415.2 370.6 (834.6) 108.8
Gain (loss) on debt modification and
extinguishment, net -
intercompany................................... — 55.4 (55.4) — — —
Realized and unrealized losses on
derivative instruments, net............... (2.0) — (144.6) — — (146.6)
Realized and unrealized gains (losses)
on intercompany derivative
instruments, net................................ —(22.4) 22.4 — — —
Foreign currency transaction gains
(losses), net...................................... 1.5 26.3 22.0 (4.2) 24.0 69.6
Other income (expense), net ............... — 4.3 (4.3) 0.7 — 0.7
(86.1) 92.3 (225.6)(2.0) 24.0 (197.4)
Earnings (loss) before income
taxes............................................ (88.1) 92.3 (141.3)(26.2) 24.0 (139.3)
Income tax benefit................................. — — 14.6 — — 14.6
Earnings (loss) after income
taxes............................................ (88.1) 92.3 (126.7)(26.2) 24.0 (124.7)
Equity in net earnings (loss) of
subsidiaries......................................... (36.5) — 93.4 (10.3)(46.6) —
Net earnings (loss).......................... £ (124.6) £ 92.3 £ (33.3) £ (36.5) £ (22.6) £ (124.7)
Total comprehensive earnings
(loss) ........................................... £ (87.6) £ 92.3 £ (39.0) £ (40.1) £ (13.2) £ (87.6)