Cablevision 2012 Annual Report Download - page 159

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except per share amounts)
I-31
Additionally on June 30, 2011, CSC Holdings distributed to Cablevision all of the outstanding common
stock of AMC Networks and on February 9, 2010, CSC Holdings distributed to Cablevision all of the
outstanding common stock of Madison Square Garden.
Income (Loss) Per Common Share
Cablevision
Basic net income per common share attributable to Cablevision stockholders is computed by dividing net
income attributable to Cablevision stockholders by the weighted average number of common shares
outstanding during the period. Diluted net income per common share attributable to Cablevision
stockholders reflects the dilutive effects of stock options and restricted stock (including shares held by
AMC Networks and Madison Square Garden employees).
A reconciliation of the denominator of the basic and diluted net income per share attributable to
Cablevision stockholders calculation for the years ended December 31, 2012, 2011 and 2010 is as
follows:
Anti-dilutive shares (options whose exercise price exceeds the average market price of Cablevision's
common stock during the period and certain restricted shares) totaling approximately 1,257,000, 303,000
and 237,000 shares (which include Company options held by AMC Networks and Madison Square
Garden employees), have been excluded from diluted weighted average shares outstanding for the years
ended December 31, 2012, December 31, 2011 and December 31, 2010, respectively. In addition,
approximately 756,000 restricted shares issued pursuant to the Company's employee stock plan have also
been excluded from the diluted weighted average shares outstanding for the year ended December 31,
2012, as the performance criteria on these awards have not yet been satisfied.
CSC Holdings
Net income (loss) per membership unit for CSC Holdings is not presented since CSC Holdings is a limited
liability company and a wholly-owned subsidiary of Cablevision.
Concentrations of Credit Risk
Financial instruments that may potentially subject the Company to a concentration of credit risk consist
primarily of cash and cash equivalents and trade account receivables. The Company monitors the
financial institutions and money market funds where it invests its cash and cash equivalents with
diversification among counterparties to mitigate exposure to any single financial institution. The
Company's emphasis is primarily on safety of principal and liquidity and secondarily on maximizing the
yield on its investments. Management believes that no significant concentration of credit risk exists with
respect to its cash and cash equivalents balances because of its assessment of the creditworthiness and
financial viability of the respective financial institutions.
2012 2011 2010
(in thousands)
Basic weighted average shares outstanding ...............................
.
262,258 276,369 293,165
Effect of dilution:
Stock options ..........................................................................
.
2,588 3,320 3,181
Restricted stock awards ..........................................................
.
2,484 5,215 5,534
Diluted weighted average shares outstanding ............................
.
267,330 284,904 301,880