Virgin Media 2014 Annual Report Download - page 8

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The accompanying notes are an integral part of these condensed consolidated financial statements.
6
VIRGIN MEDIA INC.
(See note 1)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
(in millions)
Successor Predecessor
Six months
ended
June 30,
2014
Period from
June 8 to
June 30,
2013
Period from
January 1
to June 7,
2013
Cash flows from operating activities:
Net earnings (loss)....................................................................................................... £(124.7) £ 58.4 £ 99.9
Adjustments to reconcile net earnings (loss) to net cash provided (used) by
operating activities:
Share-based compensation expense........................................................................ 18.9 23.2 22.1
Depreciation and amortization................................................................................ 814.1 92.7 432.8
Impairment, restructuring and other operating items, net....................................... 12.7 5.4 51.2
Amortization of deferred financing costs and non-cash interest accretion............. 8.7 1.8 14.7
Realized and unrealized losses (gains) on derivative instruments, net................... 146.6 (120.2)(51.8)
Foreign currency transaction losses (gains), net..................................................... (69.6) 23.2 2.1
Deferred income tax expense (benefit)................................................................... (15.1) 6.4 17.2
Changes in operating assets and liabilities ............................................................. 6.4 (140.9)(0.1)
Net cash provided (used) by operating activities ................................................. 798.0 (50.0) 588.1
Cash flows from investing activities:
Loans to related party.................................................................................................. (484.3)(2,290.6) —
Capital expenditures.................................................................................................... (313.9)(38.3)(313.4)
Other investing activities, net...................................................................................... (6.7) — 4.1
Net cash used by investing activities .................................................................... £(804.9) £ (2,328.9) £ (309.3)