Cablevision 2012 Annual Report Download - page 93

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under the New Credit Agreement are similar to the covenants applicable to CSC Holdings under its
outstanding senior notes.
Prior to the New Credit Agreement, Newsday LLC had a $650,000 senior secured loan facility comprised
of two components: a $525,000 10.50% fixed rate term loan facility and a $125,000 floating rate term
loan facility. The senior secured loan facility was to mature on August 1, 2013 and, subject to certain
exceptions, required mandatory prepayments out of the proceeds of certain sales of property or assets,
insurance proceeds and debt and equity issuances. No mandatory prepayments were required prior to
July 29, 2011, and the amount of prepayments thereafter were limited to $105,000 in the aggregate prior
to July 29, 2012 and $140,000 in the aggregate prior to the maturity date. Optional prepayments were
also permitted, subject to specified prepayment premiums.
Newsday LLC was in compliance with its financial covenant under its credit agreement as of
December 31, 2012.
Capital Expenditures
The following table provides details of the Company's capital expenditures for the years ended
December 31, 2012 and 2011:
Years Ended
December 31,
2012 2011
Capital Expenditures
Customer premise equipment .................................................................................
.
$ 330,533 $203,107
Scalable infrastructure ............................................................................................
.
324,952 217,066
Line extensions .......................................................................................................
.
33,097 40,240
Upgrade/rebuild ......................................................................................................
.
34,825 37,013
Support ...................................................................................................................
.
208,458 156,698
Total Cable Television ........................................................................................
.
931,865 654,124
Lightpath ................................................................................................................
.
93,460 106,163
Total Telecommunications ..................................................................................
.
1,025,325 760,287
Other .......................................................................................................................
.
49,930 54,520
Total Cablevision ................................................................................................
.
$1,075,255 $814,807
Capital expenditures for 2012 increased $260,448 (32%) as compared to 2011. The increase is primarily
due to an increase in customer premise equipment of $127,426 due to higher expenditures for set top
boxes, an increase in scalable infrastructure of $107,886 primarily due to enhancements to our network
and data transmitting facilities for our high-speed data and voice services in the New York metropolitan
service area and an increase in support of $51,760. Partially offsetting these increases were other net
decreases in line extensions and upgrades in cable television and a decrease in capital expenditures for
Lightpath and businesses in our Other segment.
Monetization Contract Maturities
The following monetization contracts relating to our Comcast common stock matured in 2012:
Month of
Maturity
Shares covered under
monetization contract
April 2012 ...............
.
2,732,184
June 2012 .................
.
2,668,875
August 2012 ............
.
2,668,875