Cablevision 2011 Annual Report Download - page 140

CSC HOLDINGS, LLC AND SUBSIDIARIES
(a wholly-owned subsidiary of Cablevision Systems Corporation)
CONSOLIDATED STATEMENTS OF INCOME
Years ended December 31, 2011, 2010 and 2009
(Dollars in thousands)
I-16
2011 2010 2009
Revenues, net (including revenues, net from affiliates of
$5,222, $4,381 and $4,183, respectively) (see Note 17) ......... $6,700,848 $6,177,575 $5,900,074
Operating expenses:
Technical and operating (excluding depreciation,
amortization and impairments shown below and
including charges from affiliates of $178,831, $171,642
and $144,542, respectively) (see Note 17) .......................... 2,968,540 2,663,748 2,532,844
Selling, general and administrative (net of charges to
affiliates of $16,994, $23,083 and $36,552, respectively)
(see Note 17) ....................................................................... 1,482,344 1,440,731 1,389,525
Restructuring expense (credits) .............................................. 6,311 (58) 5,583
Depreciation and amortization (including impairments) ........ 1,014,974 887,092 916,408
5,472,169 4,991,513 4,844,360
Operating income ....................................................................... 1,228,679 1,186,062 1,055,714
Other income (expense):
Interest expense ...................................................................... (563,069) (531,210) (559,072)
Interest income ....................................................................... 59,945 60,872 65,400
Gain on sale of affiliate interests ............................................ 683 2,051 -
Gain (loss) on investments, net ............................................... 37,384 109,813 (977)
Gain (loss) on equity derivative contracts, net ....................... 1,454 (72,044) 631
Loss on interest rate swap contracts, net ................................ (7,973) (85,013) (75,631)
Loss on extinguishment of debt and write-off of deferred
financing costs ................................................................... (92,692) - (72,870)
Miscellaneous, net .................................................................. 1,265 1,433 543
(563,003) (514,098) (641,976)
Income from continuing operations before income taxes .......... 665,676 671,964 413,738
Income tax expense ................................................................ (292,598) (250,886) (184,255)
Income from continuing operations ........................................... 373,078 421,078 229,483
Income from discontinued operations, net of income taxes ....... 53,623 153,848 161,467
Net income ................................................................................. 426,701 574,926 390,950
Net loss (income) attributable to noncontrolling interests ......... (424) (649) 273
Net income attributable to CSC Holdings, LLC's sole
member ................................................................................... $ 426,277 $ 574,277 $ 391,223
Amounts attributable to CSC Holdings, LLC's sole member:
Income from continuing operations, net of income taxes ....... $ 372,654 $ 420,429 $ 229,756
Income from discontinued operations, net of income taxes .... 53,623 153,848 161,467
Net income .............................................................................. $ 426,277 $ 574,277 $ 391,223
See accompanying notes to consolidated financial statements.