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CABLEVISION
SYSTEMS
CORPORATION
2013 Form 10-K
NYSE: CVC

Table of contents

  • Page 1
    CABLEVISION SYSTEMS CORPORATION 2013 Form 10-K NYSE: CVC

  • Page 2

  • Page 3
    ... of each class: Cablevision Systems Corporation Cablevision NY Group Class A Common Stock CSC Holdings, LLC Securities registered pursuant to Section 12(g) of the Act: Cablevision Systems Corporation CSC Holdings, LLC Name of each Exchange on which Registered: New York Stock Exchange None None...

  • Page 4
    ... to the price at which the common equity was last sold on the New York Stock Exchange as of June 30, 2013: $3,417,054,054 Number of shares of common stock outstanding as of February 21, 2014: Cablevision NY Group Class A Common Stock Cablevision NY Group Class B Common Stock CSC Holdings, LLC...

  • Page 5
    ... Market Risk Financial Statements and Supplementary Data Changes in and Disagreements with Accountants on Accounting and Financial Disclosure Controls and Procedures Other Information 30 34 39 87 88 88 88 89 Directors and Executive Officers and Corporate Governance Executive Compensation Security...

  • Page 6
    This page intentionally left blank.

  • Page 7
    ... we provide Ethernet-based data, Internet, voice and video transport and managed services, to the business market in the New York metropolitan area. In addition, we own approximately 97.2% of Newsday LLC which operates a newspaper publishing business. We also own a cable television advertising sales...

  • Page 8
    ... packages of video service. Our video service is marketed under the Optimum brand name. Our video services may include, among other programming, local broadcast network affiliates and independent television stations, certain other news, information, sports and entertainment channels such as CNN, AMC...

  • Page 9
    ... Television". We also provide high-speed data services using our cable television broadband network. High-speed data services are provided to residential and small business customers through a cable modem device. The high-speed data service is marketed as "Optimum Online". We offer VoIP services...

  • Page 10
    ..., ESPN, The NFL Network and The Disney Channel, Multi-Room DVR, a remote-storage digital video recorder ("DVR") providing subscribers the ability to record and play television programming from any digital set top box in the home. We continue to offer a set top box DVR service giving subscribers the...

  • Page 11
    ... and promotional pricing are available when Optimum Online is combined with our other service offerings. We have deployed a broadband wireless network ("WiFi") in commercial and high traffic locations across our service area as a free value-added benefit to Optimum Online customers. The WiFi feature...

  • Page 12
    ... products that are added to existing services. For example, we offer an "Optimum Triple Play" package that is a special promotion for new customers or eligible current customers where our three products, video, high-speed data and voice, are each available at a reduced rate for a specified period...

  • Page 13
    ... Ethernet, data transport, internet protocol ("IP") based virtual private networks, Internet access, voice services, including session initiation protocol ("SIP") trunking, VoIP and traditional Switched voice services. Lightpath also provides managed information technology services to businesses...

  • Page 14
    ... high school sports and activities and other local programming. We have a licensing arrangement with The Madison Square Garden Company ("Madison Square Garden") permitting us to use "MSG Varsity" as the name of this programming service. MSG Varsity is available to all subscribers throughout...

  • Page 15
    ... in the New York metropolitan service area from two incumbent telephone companies. Verizon Communications, Inc. ("Verizon") and AT&T Inc. ("AT&T"), which offer video programming in addition to their voice and high-speed Internet access services to residential customers in this service area, compete...

  • Page 16
    ...that the DBS companies cannot efficiently provide at this time, such as high-speed Internet access service, voice service and interactive services carried over the cable distribution plant. Other Competitors and Video Programming Sources. Another source of competition for cable television systems is...

  • Page 17
    ... at that time. Lightpath also faces competition from one or more competitive access providers and other new entrants in the local telecommunications and data marketplace. In addition to the ILECs and other CLECs, other potential competitors capable of offering voice or broadband services include...

  • Page 18
    ... new pricing or packaging regulations, including proposals requiring cable operators to offer programming services on an unbundled basis rather than as part of a tier or to provide a greater array of tiers to give subscribers the option of purchasing a more limited number of programming services...

  • Page 19
    ... of set top boxes. PEG and Leased Access. Localities may require free access to, and support of, public, educational, or governmental ("PEG") channels on our cable systems. In addition to providing PEG channels, we must make a limited number of commercial leased access channels available to...

  • Page 20
    ...access to the building. CALM Act. FCC rules require us to ensure that all commercials carried on our cable service comply with specified volume standards. Privacy and Data Security. In the course of providing service, we collect certain information about our subscribers and their use of our services...

  • Page 21
    ... new requirements are necessary to improve the resiliency of communications networks, potentially including cable networks. High-Speed Data Regulatory Classification. High-speed Internet access services (often called "broadband" Internet services) are classified by the FCC as "information services...

  • Page 22
    ... of cable subscribers' personally identifiable information also apply with respect to broadband Internet access service provided by cable operators. In addition, our provision of Internet services also subjects us to the limitations on use and disclosure of user communications and records contained...

  • Page 23
    ... providers are required to provide enhanced 911 emergency services to their customers; protect customer proprietary network information from unauthorized disclosure to third parties; report to the FCC on service outages; comply with telemarketing regulations and other privacy and data security...

  • Page 24
    ...York, Connecticut and New Jersey. Regulatory obligations vary from state to state and include some or all of the following requirements: filing tariffs (rates, terms and conditions); filing operational, financial, and customer service reports; seeking approval to transfer the assets or capital stock...

  • Page 25
    ... incumbent telephone companies, Verizon and AT&T, which offer video programming in addition to their voice and high-speed Internet access services, and compete across all of our telecommunications products. Verizon has constructed fiber to the home network plant that passes a significant number of...

  • Page 26
    ... from other providers of high-speed Internet access including services offered by local telephone providers such as Verizon and AT&T. Verizon offers high speed data services to customers in our footprint in areas where it is currently able to sell fiber-based video service as well as areas where it...

  • Page 27
    ... and retain subscribers and the demand for our services and it can also decrease advertising demand on our delivery systems. Our high-speed data business faces technological challenges from rapidly evolving wireless Internet solutions. Our voice service offerings face technological developments...

  • Page 28
    ... cable television systems, sources of programming and other businesses. We have also incurred substantial indebtedness in order to offer new or upgraded services to our current and potential customers and to pursue activities outside our core businesses, such as our acquisitions of Clearview Cinemas...

  • Page 29
    ... by limitations on our subsidiaries' ability to send us funds. Cablevision's sole subsidiary is CSC Holdings. CSC Holdings' principal subsidiaries include various entities that own cable television systems and other businesses. Cablevision's ability to pay interest and principal on its outstanding...

  • Page 30
    ... our customers for certain of our video services in accordance with FCC rules. The FCC and state and local governments also regulate us in other ways that affect the daily conduct of our video delivery and video programming businesses, our voice business and our high-speed Internet access businesses...

  • Page 31
    ... under a senior secured loan facility, and $630.0 million of the proceeds of these borrowings were paid to Newsday's former owner, Tribune Company. Borrowings under Newsday's credit facility (under which $480.0 million was outstanding at December 31, 2013) are guaranteed by CSC Holdings. In addition...

  • Page 32
    ... outstanding under its senior secured credit facility until it matures. Demand for advertising, increased competition and declines in circulation affect Newsday. A majority of the revenues of our Newsday business are from advertising. Expenditures by advertisers generally reflect economic conditions...

  • Page 33
    ... not qualify for tax-free treatment for U.S. federal income tax purposes, then, in general, we would be subject to tax as if we had sold the Madison Square Garden common stock or AMC Networks common stock, as the case may be, in a taxable sale for its fair value. Cablevision stockholders would be...

  • Page 34
    ... with such entities. The Company renounced its rights to certain business opportunities and the new policy provides that no director or officer of the Company who is also serving as a director, officer, employee or agent of Madison Square Garden or AMC Networks and their respective subsidiaries will...

  • Page 35
    .... Cablevision's Board of Directors and the directors elected by holders of Class A common stock each approved this request on March 8, 2004. Item 1B. None. Item 2. Properties Unresolved Staff Comments We own our headquarters building located in Bethpage, New York with approximately 558,000 square...

  • Page 36
    ... of Equity Securities CNYG Class A common stock is traded on the New York Stock Exchange ("NYSE") under the symbol "CVC". Price Range of Cablevision NY Group Class A Common Stock The following tables set forth for the periods indicated the intra-day high and low sales prices per share of the...

  • Page 37
    ... public trading market for the CNYG Class B common stock, par value $.01 per share. As of February 21, 2014, there were 23 holders of record of CNYG Class B common stock. All membership interests in CSC Holdings are held by Cablevision. Stockholder Dividends and Distributions Cablevision The Board...

  • Page 38
    ... and CSC Holdings credit agreement restrict the amount of dividends and distributions in respect of any equity interest that can be made. Recent Sales and Use of Proceeds In June 2010, Cablevision's Board of Directors authorized the repurchase of up to $500 million of CNYG Class A common stock. In...

  • Page 39
    ... Group Index by measuring the changes in CNYG Class A common stock prices from December 31, 2008 through December 31, 2013. As required by the SEC, the values shown assume the reinvestment of all dividends and also reflect the effect of the AMC Networks Distribution and MSG Distribution. Because no...

  • Page 40
    ... with the audited consolidated financial statements of Cablevision and CSC Holdings and the notes thereto included in Item 8 of this Report. Cablevision Systems Corporation Years Ended December 31, 2013 (Dollars in thousands) Operating Data: (a) 2012 2011 2010 2009 $6,232,152 3,079,226...

  • Page 41
    2013 (Dollars in thousands, except per share data) Cablevision Systems Corporation Years Ended December 31, 2012 2011 2010(a) 2009 INCOME PER SHARE: Basic income per share attributable to Cablevision Systems Corporation stockholders: $0.49 $1.30 $1.79 260,763 262,258 276,369 293,165 $0.89 $1.06 ...

  • Page 42
    2013 (Dollars in thousands) 2012 CSC Holdings, LLC Years Ended December 31, 2011 2010 2009 $6,232,...Revenues, net...Operating expenses: Technical and operating (excluding depreciation, amortization and impairments shown below) ...Selling, general and administrative ...Restructuring expense (credits...

  • Page 43
    ...Data: 2013 (Dollars in thousands) Cablevision Systems Corporation December 31, 2012 2011 2010 2009 Total assets ...Credit...955) 521 (5,155,434) 2013 2012 CSC Holdings, LLC December 31, 2011 (Dollars in thousands) 2010 2009 Total assets ...Credit facility debt ...Collateralized indebtedness ......

  • Page 44
    ......High-speed data customers to serviceable passings ...Voice customers to serviceable passings ...Average Monthly Revenue per Customer Relationship ("RPC") (d) ...Average Monthly Revenue per Video Customer ("RPS") (d) ... _____ (a) (b) (c) (d) (e) Represents number of households/businesses...

  • Page 45
    ... for subscribers from existing competitors (such as telephone companies, direct broadcast satellite ("DBS") distributors, and Internet-based providers) and new competitors (such as high-speed wireless providers) entering our franchise areas; demand for our video, high-speed data and voice services...

  • Page 46
    ... service outage credits, incremental costs and capital expenditures related to Superstorm Sandy for the Cable segment. On June 30, 2011, we distributed to our stockholders all of the outstanding common stock of AMC Networks Inc., a company which consists principally of national programming networks...

  • Page 47
    ...our commercial data and voice customers). As penetration rates increase, the number of available homes to which we can market our services generally decreases. We also derive revenues from the sale of advertising time available on the programming carried on our cable television systems. Our revenues...

  • Page 48
    ... high-speed data services business, which accounted for 22% of our consolidated revenues, net of inter-segment eliminations, for the year ended December 31, 2013, faces intense competition from other providers of high-speed Internet access, including Verizon and AT&T. Verizon offers high speed data...

  • Page 49
    ... Corporation ("Cablevision Media Sales"), a cable television advertising company, (iv) MSG Varsity, a program service dedicated to showcasing high school sports and activities and other local programming, and (v) certain other businesses and unallocated corporate costs. Newsday Newsday's revenue is...

  • Page 50
    ... affect the fair value of these reporting units, we assess individual factors such as: x x x x x macroeconomic conditions; industry and market conditions; overall financial performance of the reporting unit; changes in management, strategy or customers; and relevant reporting unit specific events...

  • Page 51
    ...be required to record impairment charges related to its long-lived assets. Based on the Company's annual impairment test during the first quarter of 2013, the Company's reporting units had significant safety margins, representing the excess of the estimated fair value of each reporting unit less its...

  • Page 52
    ... the Newsday related trademarks. The Company recorded an impairment charge of $25,100, $13,000 and $11,000, in the fourth quarter of 2013, 2012 and 2011, respectively, related to these trademarks, reflecting the excess of the carrying value over the estimated fair value. The estimated fair values of...

  • Page 53
    ... time studies used to estimate the average time spent on each activity. New connections are amortized over the estimated useful lives of 5 years or 12 years for residence wiring and feeder cable to the home, respectively. The portion of departmental costs related to reconnection, programming service...

  • Page 54
    ... committees of the Boards of Directors of the Company and AMC Networks. On April 9, 2013, we received $175,000 from AMC Networks (in addition to the $350,000 initially distributed to us from the joint escrow account in December 2012). The proceeds of $175,000 and $350,000 were recorded as a gain in...

  • Page 55
    ... used by investors, analysts and peers to compare performance in our industry. Internally, we use net revenues and AOCF measures as the most important indicators of our business performance, and evaluate management's effectiveness with specific reference to these indicators. AOCF should be viewed...

  • Page 56
    ... of Operations - Cablevision Systems Corporation The following table sets forth on a historical basis certain items related to operations as a percentage of net revenues for the periods indicated: STATEMENT OF INCOME DATA Years Ended December 31, 2013 Amount % of Net Revenues Amount 2012 % of Net...

  • Page 57
    ... DATA (continued) Years Ended December 31, 2012 Amount % of Net Revenues Amount 2011 % of Net Revenues Favorable (Unfavorable) Revenues, net ...$6,131,675 Operating expenses: Technical and operating (excluding depreciation, amortization and impairments shown below) ...3,001,577 Selling, general...

  • Page 58
    ...speed data, and VoIP services; Lightpath, which provides Ethernet-based data, Internet, voice and video transport and managed services, to the business market in the New York metropolitan area; and Other, consisting principally of (i) Newsday, (ii) the News 12 Networks, (iii) Cablevision Media Sales...

  • Page 59
    ... primarily sales, marketing and advertising expenses, administrative costs, and costs of customer call centers. Selling, general and administrative expenses increased $66,960 (5%) for 2013 as compared to 2012. The net increase is attributable to the following: Increase in expenses of the Cable...

  • Page 60
    ...Newsday credit facility. Income tax expense of $65,635 for the year ended December 31, 2013, reflected an effective tax rate of 34%. An increase in the valuation allowance relating to certain state net operating loss carry forwards resulted in tax expense of $5,631. The Company recorded tax benefits...

  • Page 61
    ... Cable, including gain on sale in 2013, net of income taxes ...Loss of Clearview Cinemas, including loss on sale in 2013, net of income taxes ...Income from discontinued operations, net of income taxes - Cablevision ...Income tax benefit recognized at Cablevision, not applicable to CSC Holdings...

  • Page 62
    ...following: Years Ended December 31, 2013 Video (including equipment rental, DVR, video-on-demand, and pay-per-view) ...$3,149,702 High-speed data...1,342,627 Voice ...841,048 Advertising ...147,875 Other (including installation, advertising sales commissions, home shopping, and other products) ...94...

  • Page 63
    ... costs (including costs of video-ondemand and pay-per-view) and direct costs associated with providing and maintaining services to our customers. These costs typically rise due to increases in contractual programming rates, new channel launches, the effect of increasing the number of subscribers...

  • Page 64
    ... and collection activities. These costs generally fluctuate as the number of customers increases or decreases and rise as a result of general inflationary cost increases for employees and various other expenses. Sales and marketing costs primarily consist of employee costs and advertising production...

  • Page 65
    ... (3%) for 2013 as compared to 2012. The net increase is attributable primarily to sales commissions and consulting fees. Selling, general and administrative expenses include sales and marketing costs which consist primarily of employee costs and advertising production and placement costs associated...

  • Page 66
    ... at MSG Varsity of $13,693 due to reduced activities and at Newsday (from $188,999 to $180,035, due primarily to lower employee related costs and a decrease in newsprint and ink expenses) ...Increase in expenses at News 12 Networks and other businesses, primarily employee costs and professional fees...

  • Page 67
    ..., including share-based compensation expense and expenses related to Cablevision's long-term incentive plans aggregating $9,117 and $16,864 for the years ended December 31, 2013 and December 31, 2012, respectively, to Clearview Cinemas (previously included in the Other segment) and Bresnan Cable...

  • Page 68
    ... primarily sales, marketing and advertising expenses, administrative costs, and costs of customer call centers. Selling, general and administrative expenses increased $55,984 (4%) for 2012 as compared to 2011. The net increase is attributable to the following: Increase in expenses of the Cable...

  • Page 69
    ... 2015 and related fees associated with the tender offer and the write-off of unamortized deferred financing costs and discounts related to such repurchases. Additionally, the 2012 amount includes the write-off of deferred financing costs associated with the refinancing of the Newsday credit facility...

  • Page 70
    ... December 31, 2012 2011 Litigation settlement, net of related costs, net of income taxes ...Net operating results of Clearview Cinemas, net of income taxes ...Net operating results of Bresnan Cable, net of income taxes ...Net operating results of AMC Networks, including transaction costs, net of...

  • Page 71
    ...disruptions for almost 60% of our customers, as well as damage to certain portions of our cable network. The following table summarizes service outage credits which reduced revenues, net, incremental costs, depreciation and capital expenditures related to Superstorm Sandy for the year ended December...

  • Page 72
    ...following: Years Ended December 31, 2012 Video (including equipment rental, DVR, video-on-demand, and pay-per-view) ...$3,166,486 High-speed data...1,222,266 841,701 Voice ...151,847 Advertising ...Other (including installation, home shopping, advertising sales commissions, 96,808 and other products...

  • Page 73
    ... by increases in the number of customers to our high-speed data and voice services, as set forth in the customer table below, and increases in advertising and other revenue. In addition, for the year ended December 31, 2012, net revenue includes the resolution of a voice access dispute related to...

  • Page 74
    ...quarter of 2011 related to estimated programming costs recorded in years prior to 2011 resulting from the renewals of contracts that expired in previous years...Increase in network, field operations and customer premise equipment repairs and maintenance costs ...Increase in high-speed data and voice...

  • Page 75
    ... traditional voice and data services. Technical and operating expenses (excluding depreciation and amortization shown below) for 2012 increased $12,596 (12%) as compared to 2011. The net increase is attributable primarily to increases in employee related and temporary help costs, and call completion...

  • Page 76
    ...the following: Decrease in revenues at Newsday (from $293,148 to $283,917) due primarily to decreases in advertising revenues...Increase in other revenues...Increase in advertising revenues at News 12 Networks and commission revenues at Cablevision Media Sales ...Intra-segment eliminations...$(9,231...

  • Page 77
    ... to business units ...Net increases primarily at News 12 Networks and Cablevision Media Sales ...Increase in legal and other professional fees ...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...

  • Page 78
    ... advances to affiliates. The increase in cash provided by operating activities of $73,769 in 2013 as compared to 2012 resulted from an increase of $79,957 resulting from changes in working capital, including the timing of payments and collections of accounts receivable, among other items, partially...

  • Page 79
    ... for the year ended December 31, 2012. In 2013, the Company's financing activities consisted primarily of payments to redeem and repurchase senior notes, including premiums and fees, of $371,498, dividend payments to common stockholders of $159,709, net repayments of credit facility debt of $148,991...

  • Page 80
    ...and amounts due to affiliates. The increase in cash provided by operating activities of $183,688 in 2013 as compared to 2012 resulted from an increase of $164,471 resulting from changes in working capital, including the timing of payments and collections of accounts receivable, among other items and...

  • Page 81
    ..., 2012. In 2013, the Company's financing activities consisted primarily of distributions to Cablevision of $501,224, payments to redeem and repurchase senior notes, including premiums and fees, of $308,673, net repayments of credit facility debt of $148,991, additions to deferred financings costs of...

  • Page 82
    ... AMC Networks and Bresnan Cable's credit facility debt of $659,714. LIQUIDITY AND CAPITAL RESOURCES Cablevision Cablevision has no operations independent of its subsidiaries. Cablevision's outstanding securities consist of Cablevision NY Group ("CNYG") Class A common stock, CNYG Class B common stock...

  • Page 83
    ... our credit facilities, senior notes and notes payable as of December 31, 2013. However, market disruptions or a deterioration in economic conditions could lead to lower demand for our products, such as cable television services, as well as lower levels of television and newspaper advertising, and...

  • Page 84
    ... the year ended December 31, 2013: Restricted Group Other Entities Cablevision Newsday LLC(a) Total CSC Holdings Eliminations(b) Total Cablevision Credit facility debt ...Senior notes and debentures ...Collateralized indebtedness relating to stock monetizations ...Capital lease obligations ...Notes...

  • Page 85
    ... available, subject to covenant limitations, to be drawn to meet the net funding and investment requirements of the Restricted Group. In April 2013, CSC Holdings entered into a new credit facility, the proceeds of which were used to repay its then outstanding extended revolving loan, Term A-3, Term...

  • Page 86
    ... the upgrade of its digital video, high-speed data and voice services (including enhancements to its service offerings such as a broadband wireless network (WiFi)); debt service, including distributions made to Cablevision to service interest expense and principal repayments on its debt securities...

  • Page 87
    ... held by Newsday Holdings LLC, capital contributions and intercompany advances. On October 12, 2012, Newsday LLC entered into a new senior secured credit agreement (the "Newsday Credit Agreement"), the proceeds of which were used to repay all amounts outstanding under its existing credit agreement...

  • Page 88
    ... to the covenants applicable to CSC Holdings under its outstanding senior notes. Newsday LLC was in compliance with its financial covenant under the Newsday Credit Agreement as of December 31, 2013. Capital Expenditures The following table provides details of the Company's capital expenditures for...

  • Page 89
    ... include contractual commitments with various programming vendors to provide video services to our subscribers and minimum purchase obligations to purchase goods or services. Future fees payable under contracts with programming vendors are based on numerous factors, including the number of (83)

  • Page 90
    ... costs. Bresnan Cable includes cable television systems in Montana, Wyoming, Colorado and Utah, previously included in the Company's Telecommunications Services segment. The Company recorded a pre-tax gain of approximately $408,000 for the year ended December 31, 2013 relating to the Bresnan Sale...

  • Page 91
    ...the Company had $455,322 of availability remaining under its stock repurchase authorizations. Dividends During the year ended December 31, 2013, the Board of Directors of Cablevision declared the following cash dividends to stockholders of record on both its Cablevision NY Group Class A common stock...

  • Page 92
    ...Board of Directors of Cablevision declared a cash dividend of $0.15 per share payable on April 3, 2014 to stockholders of record on both its CNYG Class A common stock and CNYG Class B common stock as of March 14, 2014. Managing our Interest Rate and Equity Price Risk Interest Rate Risk Interest rate...

  • Page 93
    ... Item 7A are presented in thousands. Equity Price Risk We are exposed to market risks from changes in certain equity security prices. Our exposure to changes in equity security prices stems primarily from the shares of Comcast Corporation common stock we hold. We have entered into equity derivative...

  • Page 94
    ..., the Chief Executive Officer and Chief Financial Officer concluded that the design and operation of these disclosure controls and procedures were effective as of December 31, 2013. Management's Annual Report on Internal Control Over Financial Reporting The Company's management is responsible...

  • Page 95
    ... a review of reports filed under Section 16(a) of the Securities Exchange Act of 1934, each person who, at any time during its fiscal year ended December 31, 2013, was a director, officer or beneficial owner of more than 10% of the Company's Class A common stock that failed to file on a timely basis...

  • Page 96
    ... set forth on page 103 Financial statement schedule: Page No. Schedule supporting consolidated financial statements: Schedule II - Valuation and Qualifying Accounts ...91 Schedules other than that listed above have been omitted, since they are either not applicable, not required or the information...

  • Page 97
    ... data) SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS Cablevision Systems Corporation Balance at Beginning of Period Provision for Bad Debt Deductions/ Write-Offs and Other Charges Balance at End of Period Year Ended December 31, 2013 Allowance for doubtful accounts...Year Ended December 31, 2012...

  • Page 98
    ...caused this report to be signed on their behalf by the undersigned, thereunto duly authorized on the 26th day of February, 2014. Cablevision Systems Corporation CSC Holdings, LLC By: Name: Title: /s/ Gregg G. Seibert Gregg G. Seibert Vice Chairman and Chief Financial Officer of Cablevision Systems...

  • Page 99
    ... of the Board of Directors Director Director Director Director Director Director Date February 26, 2014 February 26, 2014 February 26, 2014 February 26, 2014 February 26, 2014 February 26, 2014 February 26, 2014 Director Director Director Director Director Director Director Director February 26...

  • Page 100
    ...on November 10, 2009). Certificate of Formation of CSC Holdings, LLC (incorporated herein by reference to Exhibit 3.2 to Cablevision's Current Report on Form 8-K, filed on November 10, 2009). Limited Liability Company Agreement of CSC Holdings, LLC (incorporated herein by reference to Exhibit 3.3 to...

  • Page 101
    ... CSC Holdings ' Form S-1). Amendment to Time Sharing Agreements, dated November 5, 2008, between CSC Transport, Inc. and Sterling Aviation LLC (incorporated herein by reference to Exhibit 10.1 to Cablevision's Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2008). Employment...

  • Page 102
    ... 10.1 to Cablevision's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2013). Supplemental Benefit Plan of CSC Holdings, Inc. (incorporated herein by reference to Exhibit 10.7 to CSC Holdings ' Form S-1). Cablevision Systems Corporation Employee Stock Plan (incorporated herein...

  • Page 103
    ... America, N.A., as Secured Party (incorporated herein by reference to Exhibit 10.2 to Cablevision's Current Report on Form 8-K, filed April 23, 2013). Credit Agreement, dated as of October 12, 2012, among Newsday LLC, CSC Holdings, LLC, the lenders party thereto from time to time, Barclays Bank PLC...

  • Page 104
    ... 2006). Form of Stock Option and Restricted Stock Unit Agreement for Non-Employee Directors (June 5, 2006) (incorporated herein by reference to Exhibit 10.3 to Cablevision's Current Report on Form 8-K, filed June 7, 2006). Summary of the Cablevision CHOICE Excess Savings Plan (incorporated herein by...

  • Page 105
    ... by reference to Exhibit 10.2 to Cablevision's Current Report on Form 8-K, filed June 22, 2007). Time Sharing Agreement, dated February 1, 2012, between CSC Transport IV, Inc. and David G. Ellen (incorporated herein by reference to Exhibit 10.59 to Cablevision's Annual Report on Form 10-K for the...

  • Page 106
    ... Support Services Agreement, dated January 1, 2013, by and between CSC Transport, Inc., Dolan Family Office, LLC and Charles F. Dolan. (incorporated herein by reference to Exhibit 10.62 to Cablevision's Annual Report on Form 10-K for the fiscal year ended December 31, 2012). Aircraft Management...

  • Page 107
    ... Exhibit 99.1 to Cablevision's Current Report on Form 8-K, filed July 1, 2011). Cablevision Systems Corporation Policy Concerning Certain Matters Relating to The Madison Square Garden Company and AMC Networks Inc., Including Responsibilities of Overlapping Directors and Officers (incorporated herein...

  • Page 108
    ...2013, between CSC Holdings, LLC and Charter Communications Operating, LLC. (incorporated herein by reference to Exhibit 10.84 to Cablevision's Annual Report on Form 10-K for the fiscal year ended December 31, 2012). Subsidiaries of the Registrants. Consent of Independent Registered Public Accounting...

  • Page 109
    ... STATEMENTS Page Reports of Independent Registered Public Accounting Firm ...CABLEVISION SYSTEMS CORPORATION AND SUBSIDIARIES Consolidated Financial Statements Consolidated Balance Sheets - December 31, 2013 and 2012 ...Consolidated Statements of Income - years ended December 31, 2013, 2012 and 2011...

  • Page 110
    ... the Treadway Commission (COSO). We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of Cablevision Systems Corporation and subsidiaries as of December 31, 2013 and 2012, and the related consolidated...

  • Page 111
    ...material respects, the information set forth therein. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), Cablevision Systems Corporation and subsidiaries' internal control over financial reporting as of December 31, 2013, based on...

  • Page 112
    ... of Independent Registered Public Accounting Firm The Board of Directors and Sole Member CSC Holdings, LLC: We have audited CSC Holdings, LLC and subsidiaries' internal control over financial reporting as of December 31, 2013, based on criteria established in Internal Control - Integrated Framework...

  • Page 113
    ... all material respects, the information set forth therein. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), CSC Holdings, LLC and subsidiaries' internal control over financial reporting as of December 31, 2013, based on criteria...

  • Page 114
    CABLEVISION SYSTEMS CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS December 31, 2013 and 2012 (Dollars in thousands) 2013 2012 ASSETS Current Assets: Cash and cash equivalents ...$ 702,224 250 Restricted cash ...Accounts receivable, trade (less allowance for doubtful accounts of $14,614 ...

  • Page 115
    ... share amounts) 2013 2012 LIABILITIES AND STOCKHOLDERS' DEFICIENCY Current Liabilities: Accounts payable...Accrued liabilities: Interest ...Employee related costs ...Other accrued expenses ...Amounts due to affiliates ...Deferred revenue ...Liabilities under derivative contracts ...Credit facility...

  • Page 116
    CABLEVISION SYSTEMS CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME Years ended December 31, 2013, 2012 and 2011 (Dollars in thousands, except per share amounts) 2013 2012 2011 Revenues, net (including revenues, net from affiliates of $5,586, $5,784 and $5,196, respectively) (see ...

  • Page 117
    ... per share amounts) 2013 2012 2011 Net income ...Other comprehensive income (loss), net of tax: Defined benefit pension and postretirement plans (see Note 13): Unrecognized gain (loss) arising during period ...Amortization of actuarial losses, net included in net periodic benefit cost ...Other...

  • Page 118
    ... stock acquired from forfeiture and acquisition of restricted shares...Treasury stock acquired through share repurchase program ...Deferred tax adjustments relating to distribution of Madison Square Garden ...Dividends on CNYG Class A and CNYG Class B common stock ...Distribution of AMC Networks...

  • Page 119
    ... acquisition of restricted shares...Treasury stock acquired through share repurchase program ...Deferred tax adjustments relating to distribution of AMC Networks ...Dividends on CNYG Class A and CNYG Class B common stock ...Adjustments to noncontrolling interests ...- Balance at December 31, 2012...

  • Page 120
    ... and acquisition of restricted shares...Tax withholding associated with shares issued for equity-based compensation ...Excess tax benefit on sharebased awards ...Dividends on CNYG Class A and CNYG Class B common stock ...Adjustments to noncontrolling interests ...- Balance at December 31, 2013...

  • Page 121
    ...715) Accounts payable ...35,557 Accrued liabilities...(9,507) Deferred revenue ...Liabilities related to interest rate swap contracts ...Net cash provided by operating activities ...Cash flows from investing activities: Capital expenditures...Proceeds related to sale of equipment, including costs of...

  • Page 122
    ... common stock, pursuant to a share repurchase program, held as treasury shares ...Excess tax benefit related to share-based awards...1,280 (27,080) Additions to deferred financing costs ...Distributions to noncontrolling interests, net ...(1,424) Net cash used in financing activities ...Net increase...

  • Page 123
    CSC HOLDINGS, LLC AND SUBSIDIARIES (a wholly-owned subsidiary of Cablevision Systems Corporation) CONSOLIDATED BALANCE SHEETS December 31, 2013 and 2012 (Dollars in thousands) 2013 2012 ASSETS Current Assets: Cash and cash equivalents ...Restricted cash ...Accounts receivable, trade (less allowance...

  • Page 124
    ...) 2013 2012 LIABILITIES AND MEMBER DEFICIENCY Current Liabilities: Accounts payable ...Accrued liabilities: Interest ...Employee related costs ...Other accrued expenses ...Amounts due to affiliates ...Deferred tax liability ...Deferred revenue ...Liabilities under derivative contracts ...Credit...

  • Page 125
    CSC HOLDINGS, LLC AND SUBSIDIARIES (a wholly-owned subsidiary of Cablevision Systems Corporation) CONSOLIDATED STATEMENTS OF INCOME Years ended December 31, 2013, 2012 and 2011 (Dollars in thousands) 2013 Revenues, net (including revenues, net from affiliates of $5,586, $5,784 and $5,196, ...

  • Page 126
    CSC HOLDINGS, LLC AND SUBSIDIARIES (a wholly-owned subsidiary of Cablevision Systems Corporation) CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Years ended December 31, 2013, 2012 and 2011 (Dollars in thousands, except per share amounts) 2013 2012 2011 Net income ...Other comprehensive income (...

  • Page 127
    ... ...Recognition of equity-based stock compensation arrangements...(543,180) Distributions to Cablevision ...Excess tax benefit on share-based awards ...Deferred tax adjustments relating to distribution of Madison Square Garden ...Distribution of AMC Networks...Adjustments to noncontrolling interests...

  • Page 128
    ... stock compensation arrangements...Distributions to Cablevision ...Contributions from Cablevision ...Excess tax benefit on share-based awards ...Deferred tax adjustments relating to distribution of AMC Networks ...Adjustments to noncontrolling interests ... Balance at December 31, 2012 ...$(3,106...

  • Page 129
    ... to CSC 620,075 Holdings, LLC's sole member...Net income attributable to noncontrolling interests ...Pension and postretirement plan liability adjustments, net of income taxes ...Recognition of equity-based stock compensation arrangements...Distributions to Cablevision ...Excess tax benefit on share...

  • Page 130
    ... income taxes ...55,231 Provision for doubtful accounts ...(46,164) Excess tax benefit related to share-based awards ...Change in assets and liabilities, net of effects of acquisitions and dispositions: (25,673) Accounts receivable, trade ...(13,905) Other receivables ...(2,176) Prepaid expenses...

  • Page 131
    CSC HOLDINGS, LLC AND SUBSIDIARIES (a wholly-owned subsidiary of Cablevision Systems Corporation) CONSOLIDATED STATEMENTS OF CASH FLOWS (continued) Years ended December 31, 2013, 2012 and 2011 (Dollars in thousands) 2013 Cash flows from financing activities: Proceeds from credit facility debt, net ...

  • Page 132
    ... own and operate cable television systems and own companies that provide regional news, local programming and advertising sales services for the cable television industry, provide Ethernet-based data, Internet, voice and video transport and managed services to the business market, and operate...

  • Page 133
    ...-owned subsidiaries and the accompanying consolidated financial statements of CSC Holdings include the accounts of CSC Holdings and its majority-owned subsidiaries. Cablevision has no business operations independent of its CSC Holdings subsidiary, whose operating results and financial position are...

  • Page 134
    ... Company's video, consumer high-speed data and VoIP services is recognized as installations are completed, as direct selling costs have exceeded this revenue in all periods reported. Advertising revenues are recognized when commercials are aired. The Company's Newsday business recognizes publication...

  • Page 135
    ... stock units granted to non-employee directors which vest 100% and are expensed at the date of grant. For stock appreciation rights, Cablevision recognizes compensation expense based on the estimated fair value at each reporting period using the Black-Scholes valuation model. For CSC Holdings, share...

  • Page 136
    ..., and include all direct costs and certain indirect costs associated with the construction of cable television transmission and distribution systems, and the costs of new product and subscriber installations. Equipment under capital leases is recorded at the present value of the total minimum lease...

  • Page 137
    ... or liabilities measured at fair value. The Company uses derivative instruments to manage its exposure to market risks from changes in certain equity prices and interest rates and does not hold or issue derivative instruments for speculative or trading purposes. These derivative instruments are...

  • Page 138
    ... members of Cablevision's Board of Directors. In addition, CNYG Class B stockholders are parties to an agreement which has the effect of causing the voting power of these CNYG Class B stockholders to be cast as a block. Shares Outstanding Class A Class B Common Stock Common Stock Balance at...

  • Page 139
    ...and CSC Holdings credit agreement restrict the amount of dividends and distributions in respect of any equity interest that can be made. The Board of Directors of Cablevision declared the following cash dividends to stockholders of record on both its CNYG Class A common stock and CNYG Class B common...

  • Page 140
    ... and restricted stock (including shares held by AMC Networks and Madison Square Garden employees). The following table presents a reconciliation of weighted average shares used in the calculations of the basic and diluted net income per share attributable to Cablevision stockholders: 2013 2012 (in...

  • Page 141
    ... of AMC Networks (Cablevision)...Distribution of AMC Networks (CSC Holdings) ...Distribution of Cablevision senior notes by CSC Holdings to Cablevision (CSC Holdings) ...Non-Cash Investing Activity of Cablevision: Dividends payable on unvested restricted share awards ...Supplemental Data: Continuing...

  • Page 142
    .... The 2013 and 2012 restructuring credits primarily related to changes to the Company's previous estimates recorded in connection with the Company's prior restructuring plans. The $6,311 restructuring expense recognized in 2011 related to the elimination of 97 positions, primarily within the Newsday...

  • Page 143
    ... connection with the Clearview Sale of approximately $19,300. As a result of the Company's annual impairment test in the first quarter of 2013, the Company recorded an impairment charge of $10,347, relating to goodwill of the Company's Clearview business which reduced the carrying value to zero. The...

  • Page 144
    ... below for additional information. Includes tax benefit of $7,605 resulting from a decrease in the valuation allowance for certain state net operating loss carry forwards. Year Ended December 31, 2012 Litigation Clearview Cinemas Settlement(a) (d) (e) Bresnan Cable Total Revenues, net...Income...

  • Page 145
    ... of the credit facility debt and the senior notes outstanding on the closing date of the Bresnan Sale reduced the sale proceeds. Litigation Settlement In June 2011, in connection with the AMC Networks Distribution, CSC Holdings and AMC Networks and its subsidiary, Rainbow Programming Holdings, LLC...

  • Page 146
    ... time studies used to estimate the average time spent on each activity. New connections are amortized over the estimated useful lives of 5 years or 12 years for residence wiring and feeder cable to the home, respectively. The portion of departmental costs related to reconnection, programming service...

  • Page 147
    ...to 12 years 5 to 18 years 10 to 40 years Term of lease During the years ended December 31, 2013 and 2012, the Company capitalized certain costs aggregating $127,390 and $135,136, respectively, related to the acquisition and development of internal use software, which are included in the table above...

  • Page 148
    ...The following table summarizes information relating to the Company's acquired intangible assets at December 31, 2013 and 2012: December 31, 2013 2012 Estimated Useful Lives Gross carrying amount of amortizable intangible assets Customer relationships ...Advertiser relationships...Other amortizable...

  • Page 149
    ... available, subject to covenant limitations, to be drawn to meet the net funding and investment requirements of the Restricted Group. In April 2013, CSC Holdings entered into a new credit facility, the proceeds of which were used to repay its then outstanding extended revolving loan, Term A-3, Term...

  • Page 150
    ... and the Term B loans were used to repay all amounts outstanding under CSC Holdings' previous Restricted Group credit facility and to pay fees and expenses in connection therewith. As of December 31, 2013, no amounts were drawn under the revolving credit facility. The Credit Agreement provides for...

  • Page 151
    ..., Newsday LLC entered into a new senior secured credit agreement (the "Newsday Credit Agreement"), the proceeds of which were used to repay all amounts outstanding under its existing credit agreement dated as of July 29, 2008. The Newsday Credit Agreement consists of a $480,000 floating rate term...

  • Page 152
    ... CSC Holdings under the Newsday Credit Agreement are similar to the covenants applicable to CSC Holdings under its outstanding senior notes. Prior to the Newsday Credit Agreement, Newsday LLC's had a $650,000 senior secured loan facility comprised of two components: a $525,000 10.50% fixed rate term...

  • Page 153
    ...due November 15, 2021 (the "2021 Notes"). CSC Holdings used the net proceeds of this offering, along with proceeds from the then existing Term A-4 extended loan facility, to repurchase portions of its 81/2% senior notes due 2015, 6-3/4% senior notes due 2012 and 8-1/2% senior notes due 2014, and for...

  • Page 154
    ... TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Dollars in thousands, except per share amounts) In September 2012, CSC Holdings commenced a cash tender offer for: (1) its outstanding $120,543 aggregate principal amount of June 2015 Notes for total consideration of $1,046.25 per $1,000 principal...

  • Page 155
    ... or trading purposes. The Company has entered into various transactions to limit the exposure against equity price risk on its shares of Comcast Corporation ("Comcast") common stock. The Company has monetized all of its stock holdings in Comcast Corporation through the execution of prepaid forward...

  • Page 156
    ...Balance Sheet Location Asset Derivatives Fair Value at Fair Value at December 31, December 31, 2013 2012 Liability Derivatives Fair Value at Fair Value at December 31, December 31, 2012 2013 Prepaid forward contracts ...Prepaid forward contracts ... Current derivative contracts Long-term derivative...

  • Page 157
    ... loan value, net of the value of the related equity derivative contracts for the years ended December 31, 2013 and 2012. The cash was obtained from the proceeds of new monetization contracts covering an equivalent number of Comcast shares. The terms of the new contracts allow the Company to...

  • Page 158
    ...'s cash equivalents and restricted cash, investment securities and investment securities pledged as collateral are classified within Level I of the fair value hierarchy because they are valued using quoted market prices. The Company's prepaid forward contracts reflected as derivative contracts and...

  • Page 159
    ... These notes are eliminated at the consolidated Cablevision level. The principal amount of the Company's credit facility debt, which bears interest at variable rates, approximates its fair value. Fair value estimates related to the Company's debt instruments and senior notes receivable presented...

  • Page 160
    ... per share amounts) NOTE 12. Cablevision Cablevision files a consolidated federal income tax return with its 80% or more owned subsidiaries. Income tax expense (benefit) attributable to Cablevision's continuing operations consists of the following components: 2013 Current expense (benefit): Federal...

  • Page 161
    ... valuation allowance at December 31, 2013 and 2012 are as follows: December 31, 2013 2012 Deferred Tax Asset (Liability) Current NOLs and tax credit carry forwards ...Compensation and benefit plans ...Allowance for doubtful accounts ...Other liabilities ...Deferred tax asset ...Valuation...

  • Page 162
    ... 31, 2013, Cablevision has $35,138 of federal alternative minimum tax credit carry forwards which do not expire. Subsequent to the utilization of Cablevision's NOLs and tax credit carry forwards, payments for income taxes are expected to increase significantly. CSC Holdings CSC Holdings and its...

  • Page 163
    ... CSC Holdings and Cablevision, CSC Holdings decreased the affiliate receivable due from Cablevision by $340,344, representing the estimated current income tax liability of CSC Holdings for the year ended December 31, 2013 as determined on a standalone basis, partially offset by an excess tax benefit...

  • Page 164
    ...' deductions is recorded as an increase to member's equity. On a stand-alone basis CSC Holdings realized federal and state excess tax benefit of $46,164 during the year ended December 31, 2013. Such excess tax benefit resulted in an increase to member's equity. The Company Deferred tax assets...

  • Page 165
    ...benefit of approximately $53,000 associated with the reversal of a noncurrent liability relating to an uncertain tax position. The most significant jurisdictions in which the Company is required to file income tax returns include the states of New York, New Jersey and Connecticut and the City of New...

  • Page 166
    ..., after December 31, 2013, no employee of the Company who was not already a participant may become a participant in the plans and no further annual Pay Credits will be made for any future year. Existing account balances under the plans will continue to be credited with monthly interest in accordance...

  • Page 167
    ... the amounts recorded on the Company's consolidated balance sheets for all of the Company's Defined Benefit Plans at December 31, 2013 and 2012: Defined Benefit Plans 2013 2012 Change in benefit obligation: Benefit obligation at beginning of year ...Service cost ...Interest cost ...Actuarial loss...

  • Page 168
    ... a long-term horizon. Expectations of returns for each asset class are the most important of the assumptions used in the review and modeling and are based on comprehensive reviews of historical data, forward looking economic outlook, and economic/financial market theory. The expected long-term rate...

  • Page 169
    ... takes into account expected long-term risk, return, correlation, and other prudent investment assumptions when recommending asset classes and investment managers to the Company's Investment and Benefit Committee. The investment consultant also takes into account the Pension Plan's liabilities when...

  • Page 170
    ... in securities of high quality and low risk. Excludes net payables relating to the purchase of securities that were not settled as of December 31, 2013. The fair values of the assets of the Pension Plan at December 31, 2012 by asset class are as follows: Asset Class Level I Level II Level III...

  • Page 171
    ...annual meeting of Cablevision's stockholders, each non-employee director will receive a number of restricted stock units for the number of shares of common stock equal to $110 divided by the fair value of a share of CNYG Class A stock based on the closing price on the date of grant. In 2013 and 2012...

  • Page 172
    ...related to AMC Networks and Madison Square Garden share-based awards held by Company employees, recognized by the Company as selling, general and administrative expense for the years ended December 31, 2013, 2012 and 2011: 2013 Years Ended December 31, 2012 2011 Stock options (including performance...

  • Page 173
    ... with the AMC Networks Distribution and the MSG Distribution, whereby Cablevision distributed to its stockholders all of the outstanding common stock of The Madison Square Garden Company ("Madison Square Garden"), a company which owns the sports, entertainment and media businesses previously owned...

  • Page 174
    ... price of the stock options. In addition, as of December 31, 2013, AMC Networks and Madison Square Garden employees held a total of 635,549 Cablevision stock options. These stock options are not expensed by the Company, however such stock options may have a dilutive effect on net income per share...

  • Page 175
    ... income and other employment taxes, 865,307 of these shares, with an aggregate value of $12,262, were surrendered to the Company. During the year ended December 31, 2012, 4,128,407 Cablevision restricted shares issued to employees of the Company, AMC Networks and Madison Square Garden vested. To...

  • Page 176
    ... Company and Madison Square Garden agree to provide each other with indemnities with respect to liabilities arising out of the businesses the Company transferred to AMC Networks and Madison Square Garden. The following table summarizes the revenue and charges (credits) related to services provided...

  • Page 177
    ...will charge Madison Square Garden or AMC Networks for the incremental amount. Technical Expenses Technical expenses include costs incurred by the Company for the carriage of the MSG networks and Fuse program services, as well as for AMC, WE tv, IFC and Sundance Channel on Cablevision's cable systems...

  • Page 178
    ... Dolan family. All costs incurred on behalf of these related parties are reimbursed to the Company. Aggregate amounts due from and due to AMC Networks, Madison Square Garden and other affiliates at December 31, 2013 and 2012 are summarized below: Cablevision 2013 December 31, 2012 Amounts due from...

  • Page 179
    ... Corporation and CSC Holdings, LLC: The Company is a defendant in a lawsuit filed in the U.S. District Court for the District of New Jersey by several present and former Cablevision subscribers, purportedly on behalf of a class of iO video subscribers in New Jersey, Connecticut and New York. After...

  • Page 180
    ... 26, 2012, a securities lawsuit was filed in the U.S. District Court for the Eastern District of New York against Cablevision and certain current and former officers, by a Cablevision shareholder, purportedly on behalf of a class of individuals who purchased Cablevision common stock between February...

  • Page 181
    ... 17. SEGMENT INFORMATION The Company classifies its operations into three reportable segments: (1) Cable, (2) Lightpath, and (3) Other, consisting principally of (i) Newsday, (ii) the News 12 Networks, (iii) Cablevision Media Sales, (iv) MSG Varsity, and (v) certain other businesses and unallocated...

  • Page 182
    ... Inter-segment eliminations relate primarily to revenues recognized from the sale of local programming services and voice services to the Company's Cable segment. The Cable and Lightpath segments share portions of each other's network infrastructure. Depreciation charges are recorded by the segment...

  • Page 183
    ... December 31, 2013, 2012 and 2011, Cable segment revenue was derived from the following sources: 2013 Years Ended December 31, 2012 2011 Video (including equipment rental, DVR, video-on-demand, and pay-per-view) ...$3,149,702 High-speed data...1,342,627 841,048 Voice ...147,875 Advertising ...Other...

  • Page 184
    ... area. NOTE 18. INTERIM FINANCIAL INFORMATION (Unaudited) The following is a summary of the Company's selected quarterly financial data for the years ended December 31, 2013 and 2012: 2013: March 31, 2013 June 30, 2013 Cablevision September 30, 2013 December 31, 2013 Total 2013 Revenues...

  • Page 185
    ...233,523 _____ (a) Since Cablevision generated a loss from continuing operations for the three months ended March 31, 2013 and for the three months ended December 31, 2012, the outstanding common stock equivalents were excluded from the computation of net loss per share for the respective periods as...

  • Page 186
    ...share amounts) CSC Holdings September 30, 2013 2013: March 31, 2013 June 30, 2013 December 31, 2013 Total 2013 Revenues...645 $ 330,711 620,075 Total 2012 March 31, 2012 June 30, 2012 CSC Holdings September 30, 2012 December 31, 2012 Revenues, net ...Operating expenses...Operating income ...

  • Page 187
    ..., the Company offered a credit to all customers who were without service (including cases where the loss of service was due to a loss of electric power) and who contacted the Company to request a credit. The Company recorded a reduction to revenue of approximately $33,156, which primarily relates to...

  • Page 188
    ...lower revenue related to customers for whom we decided to temporarily suspend billing during the restoration of their homes, displaced homes and advertising cancelations. Common Stock Repurchases In June 2010, Cablevision's Board of Directors authorized the repurchase of up to $500,000 of CNYG Class...

  • Page 189
    Exhibit 31.1 I, James L. Dolan, President and Chief Executive Officer of Cablevision Systems Corporation and CSC Holdings, LLC (the "Registrants") certify that: 1. I have reviewed this annual report on Form 10-K of the Registrants; 2. Based on my knowledge, this annual report does not contain any ...

  • Page 190
    ... 31.2 I, Gregg G. Seibert, Vice Chairman and Chief Financial Officer of Cablevision Systems Corporation and CSC Holdings, LLC (the "Registrants") certify that: 1. I have reviewed this annual report on Form 10-K of the Registrants; 2. Based on my knowledge, this annual report does not contain any...

  • Page 191
    ..., and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Cablevision and CSC Holdings. Date: February 26, 2014 By: /s/ James L. Dolan James L. Dolan President and Chief Executive Officer Date: February 26...

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