Cablevision 2012 Annual Report Download - page 144

CSC HOLDINGS, LLC AND SUBSIDIARIES
(a wholly-owned subsidiary of Cablevision Systems Corporation)
CONSOLIDATED STATEMENTS OF INCOME
Years ended December 31, 2012, 2011 and 2010
(Dollars in thousands)
I-16
2012 2011 2010
Revenues, net (including revenues, net from affiliates of
$5,805, $5,222 and $4,381, respectively) (see Note 16) ......... $6,705,461 $6,700,848 $6,177,575
Operating expenses:
Technical and operating (excluding depreciation,
amortization and impairments shown below and
including charges from affiliates of $183,292, $178,831
and $171,642, respectively) (see Note 16) .......................... 3,323,655 2,968,540 2,663,748
Selling, general and administrative (net of charges
from (to) affiliates of $3,614, $(16,994) and $(23,083),
respectively) (see Note 16) .................................................. 1,544,109 1,482,344 1,440,731
Restructuring expense (credits) .............................................. (770) 6,311 (58)
Depreciation and amortization (including impairments) ........ 1,078,957 1,014,974 887,092
5,945,951 5,472,169 4,991,513
Operating income ....................................................................... 759,510 1,228,679 1,186,062
Other income (expense):
Interest expense ...................................................................... (526,416) (563,069) (531,210)
Interest income ....................................................................... 60,036 59,945 60,872
Gain on sale of affiliate interests ............................................ 716 683 2,051
Gain on investments, net ........................................................ 294,235 37,384 109,813
Gain (loss) on equity derivative contracts, net ....................... (211,335) 1,454 (72,044)
Loss on interest rate swap contracts, net ................................ (1,828) (7,973) (85,013)
Loss on extinguishment of debt and write-off of deferred
financing costs ................................................................... (66,213) (92,692) -
Miscellaneous, net .................................................................. 1,770 1,265 1,433
(449,035) (563,003) (514,098)
Income from continuing operations before income taxes .......... 310,475 665,676 671,964
Income tax expense ................................................................ (124,374) (292,598) (250,886)
Income from continuing operations ........................................... 186,101 373,078 421,078
Income from discontinued operations, net of income taxes ....... 200,250 53,623 153,848
Net income ................................................................................. 386,351 426,701 574,926
Net income attributable to noncontrolling interests ................... (90) (424) (649)
Net income attributable to CSC Holdings, LLC's sole
member ................................................................................... $ 386,261 $ 426,277 $ 574,277
Amounts attributable to CSC Holdings, LLC's sole member:
Income from continuing operations, net of income taxes ....... $ 186,011 $ 372,654 $ 420,429
Income from discontinued operations, net of income taxes .... 200,250 53,623 153,848
Net income .............................................................................. $ 386,261 $ 426,277 $ 574,277
See accompanying notes to consolidated financial statements.