Cablevision 2012 Annual Report Download - page 100

(94)
For the year ended December 31, 2012, we recorded a net loss on interest rate swap contracts of $1,828,
as detailed in the table below:
Fair Value of Interest Rate Swap Contracts
Fair value as of December 31, 2011, a net liability position ................................................................. $(55,383)
Cash payments, net ................................................................................................................................ 57,211
Change in fair value, net ........................................................................................................................ (1,828)
Fair value as of December 31, 2012 ...................................................................................................... $ -
Item 8. Financial Statements and Supplementary Data.
For information required by Item 8, refer to the Index to Financial Statements on page 121.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial
Disclosure.
None.
Item 9A. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
An evaluation was carried out under the supervision and with the participation of Cablevision's
management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of
the design and operation of our disclosure controls and procedures (as defined under SEC rules). Based
upon that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the design
and operation of these disclosure controls and procedures were effective as of December 31, 2012.
Management's Annual Report on Internal Control Over Financial Reporting
The Company's management is responsible for establishing and maintaining effective internal control
over financial reporting as defined in Rules 13a-15(f) under the Securities Exchange Act of 1934, as
amended. The Company's internal control over financial reporting is a process designed under the
supervision of the Company's Chief Executive Officer and Chief Financial Officer to provide reasonable
assurance to the Company's management and Board of Directors regarding the reliability of financial
reporting and the preparation of the Company's external financial statements, including estimates and
judgments, in accordance with accounting principles generally accepted in the United States of America.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect
misstatements. Therefore, even those internal controls determined to be effective can provide only
reasonable assurance with respect to financial statement preparation and presentation.
The Company's management conducted an assessment of the effectiveness of the Company's internal
control over financial reporting based on the framework established in Internal Control-Integrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
Based on this assessment, management concluded that the Company's internal control over financial
reporting was effective as of December 31, 2012.