Virgin Media 2014 Annual Report Download - page 52

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VIRGIN MEDIA INC.
(See note 1)
Notes to Condensed Consolidated Financial Statements — (Continued)
June 30, 2014
(unaudited)
50
Successor
Period from June 8 to June 30, 2013
Statements of operations Virgin
Media
Virgin Media
Secured
Finance Guarantors Non-
Guarantors Eliminations Total
in millions
Revenue................................................... £ — £ — £ 238.4 £ 20.6 £ — £ 259.0
Operating costs and expenses:
Operating (other than depreciation and
amortization)...................................... — — 107.4 5.2 — 112.6
SG&A (including share-based
compensation).................................... 2.3 — 50.4 3.7 — 56.4
Depreciation and amortization.............. — — 78.1 14.6 — 92.7
Impairment, restructuring and other
operating items, net ........................... — — 5.1 0.3 — 5.4
2.3 — 241.0 23.8 — 267.1
Operating loss................................... (2.3) — (2.6)(3.2) — (8.1)
Non-operating income (expense):
Interest expense:
Third-party .......................................... (3.3) (17.1)(11.7) — — (32.1)
Related-party and intercompany ......... (12.3) — (39.7)(46.2) 94.6 (3.6)
Interest income – related-party and
intercompany..................................... — 20.1 44.9 40.3 (94.6) 10.7
Realized and unrealized gains on
derivative instruments, net................. 42.9 — 77.3 — — 120.2
Foreign currency transaction gains
(losses), net........................................ 7.6 (0.4)(18.0)(6.2)(6.2)(23.2)
Other income, net.................................. — 1.0 — — — 1.0
34.9 3.6 52.8 (12.1)(6.2) 73.0
Earnings (loss) before income
taxes.............................................. 32.6 3.6 50.2 (15.3)(6.2) 64.9
Income tax expense ................................. — — (6.5) — — (6.5)
Earnings (loss) after income taxes ... 32.6 3.6 43.7 (15.3)(6.2) 58.4
Equity in net earnings (loss) of
subsidiaries........................................... 25.8 — (12.1) 41.0 (54.7) —
Net earnings...................................... £ 58.4 £ 3.6 £ 31.6 £ 25.7 £ (60.9) £ 58.4
Total comprehensive earnings
(loss) ............................................. £ (10.0) £ 3.6 £ 35.7 £ 30.0 £ (69.3) £ (10.0)