Cablevision 2012 Annual Report Download - page 70

(64)
Newsday's other publications, which include amNew York and Star Community Publishing, are
distributed for free. amNew York averaged weekday circulation of approximately 323,000 for the six
months ended September 23, 2012, an increase of approximately 2% over the comparable prior year
period. Star Community Publishing distributed approximately 1,844,000 copies each week (for the six
months ended September 23, 2012), a decrease of less than 1% over the comparable prior year period.
Technical and operating expenses (excluding depreciation and amortization shown below) for the year
ended December 31, 2012 increased $8,953 (3%) as compared to the prior year. The net increase is
attributable to the following:
Increase in expenses (including increases in operating costs of Newsday from $183,508 to
$188,999 primarily due to an increase in editorial and production expenses, partially offset by a
decrease in distribution, newsprint and ink expenses) ......................................................................
.
$11,328
Decrease in operating costs primarily at the MSG Varsity network and Clearview Cinemas ..............
.
(2,375)
$ 8,953
Selling, general, and administrative expenses for the year ended December 31, 2012 decreased $13,260
(4%) as compared to the prior year. The net decrease is attributable to the following:
Decrease in employee related costs (resulting from $10,698 of certain executive separation costs
recorded in the fourth quarter of 2011, offset by an increase of $3,867 in expenses relating to
long-term incentive plan awards resulting from accrual reversals and reductions recorded in the
fourth quarter of 2011) .....................................................................................................................
.
$(13,945)
Decrease in unallocated corporate costs due to decreases in certain overhead costs and increases
in allocations to business units .........................................................................................................
.
(13,314)
Net increases primarily at News 12 Networks and Cablevision Media Sales .....................................
.
10,153
Increase in legal and other professional fees .......................................................................................
.
2,169
Increase at Newsday (from $105,040 to $106,637) including an increase of $1,331 in expenses
relating to long-term incentive plan awards to employees primarily resulting from accrual
reversals and reductions recorded in the fourth quarter of 2011 of $2,629 ......................................
.
1,597
Intra-segment eliminations ..................................................................................................................
.
80
$(13,260)
Certain corporate overhead, including share-based compensation expense and expenses related to
Cablevision's long-term incentive plans, aggregating $18,834 was allocated to AMC Networks from
January 1, 2011 through June 30, 2011, the AMC Networks Distribution date. Such expenses were not
eliminated as a result of the AMC Networks Distribution and have been reclassified to the Other segment
for the 2011 period.
Depreciation and amortization (including impairments) for the year ended December 31, 2012 increased
$10,005 (14%) as compared to the prior year. The net increase resulted primarily from the depreciation
of new asset purchases and an increase in impairment charges recorded at Newsday ($13,421 in 2012 and
$12,724 in 2011).
Adjusted operating cash flow deficit increased $2,434 (1%) for the year ended December 31, 2012 as
compared to 2011 (including Newsday's AOCF deficit of $(7,207) in 2012 compared to AOCF of $7,237
in 2011). The increase was due primarily to decreases in operating expenses excluding depreciation and
amortization and share-based compensation, partially offset by a decrease in revenues, net, as discussed
above.