Cablevision 2012 Annual Report Download - page 77

(71)
The management agreement was terminated in connection with the AMC Networks Distribution and the
fees received have been reclassified to discontinued operations for all periods presented.
Depreciation and amortization increased $118,618 (14%) for 2011 as compared to 2010. The net increase
resulted primarily from depreciation and amortization related to the newly acquired Bresnan Cable system
of $156,510 and depreciation of new asset purchases, offset by certain assets becoming fully depreciated.
Adjusted operating cash flow increased $164,275 (7%) for the year ended December 31, 2011 as
compared to 2010. The increase was primarily due to adjusted operating cash flow related to the
operations of the newly acquired Bresnan Cable system of $145,632, and an increase in revenue, partially
offset by an increase in both technical and operating and selling, general and administrative expenses,
excluding depreciation and amortization and share-based compensation, as discussed above.
Other
The table below sets forth, for the periods presented, certain financial information and the percentage that
those items bear to revenues, net for the Other segment.
Years Ended December 31,
2011 2010
Amount
% of Net
Revenues Amount
% of Net
Revenues
Favorable
(Unfavorable)
Revenues, net ................................. $ 443,898 100% $ 465,975 100% $(22,077)
Technical and operating expenses
(excluding depreciation and
amortization shown below) ........ 336,760 76 346,318 74 9,558
Selling, general and
administrative expenses ............. 320,452 72 344,314 74 23,862
Restructuring expense (credits) ..... 6,311 1 (58) - (6,369)
Depreciation and amortization
(including impairments) ............ 72,327 16 63,063 14 (9,264)
Operating loss ............................ $(291,952) (66)% $(287,662) (62)% $(4,290)
The following is a reconciliation of operating loss to AOCF deficit:
Years Ended December 31,
2011 2010 Favorable
Amount Amount (Unfavorable)
Operating loss ...........................................................................
.
$(291,952) $(287,662) $(4,290)
Share-based compensation ........................................................
.
11,901 16,404 (4,503)
Restructuring expense (credits) .................................................
.
6,311 (58) 6,369
Depreciation and amortization (including impairments) ...........
.
72,327 63,063 9,264
AOCF deficit .........................................................................
.
$(201,413) $(208,253) $6,840
Revenues, net for the year ended December 31, 2011 decreased $22,077 (5%) as compared to revenues,
net for the prior year. The net decrease is attributable to the following:
Decrease in revenues at Newsday (from $314,148 to $293,148) due primarily to decreases in
advertising revenues as a result of the continued challenging economic environment and
competition from other media ...........................................................................................................
.
$(21,000)
Increase in advertising revenues at News 12 Networks and commission revenues at Cablevision
Media Sales .......................................................................................................................................
.
3,442
Decrease in other revenues primarily at PVI and Clearview Cinemas .................................................
.
(3,045)
Intra-segment eliminations ...................................................................................................................
.
(1,474)
$(22,077)