Cablevision 2013 Annual Report Download - page 138

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except per share amounts)
F-29
Commitments and Contingencies
Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other
sources are recorded when the Company believes it is probable that a liability has been incurred and the
amount of the contingency can be reasonably estimated.
Recently Adopted Accounting Pronouncements
In February 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards
Update ("ASU") No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified
Out of Accumulated Other Comprehensive Income. ASU No. 2013-02 requires a company to report the
effect of significant reclassifications out of accumulated other comprehensive income on the respective
line items in net income if the amount being reclassified is required under U.S. generally accepted
accounting principles ("GAAP") to be reclassified in its entirety to net income. For other amounts that
are not required under U.S. GAAP to be reclassified in their entirety to net income in the same reporting
period, a company is required to cross-reference other disclosures required under U.S. GAAP that provide
additional detail about those amounts. ASU No. 2013-02 was adopted by the Company in 2013. The
adoption of this standard impacted the Company's disclosures only and did not have any impact on the
Company's financial position, results of operations, or cash flows.
Common Stock of Cablevision
Each holder of CNYG Class A common stock has one vote per share while holders of CNYG Class B
common stock have ten votes per share. CNYG Class B shares can be converted to CNYG Class A
common stock at anytime with a conversion ratio of one CNYG Class A common share for one CNYG
Class B common share. CNYG Class A stockholders are entitled to elect 25% of Cablevision's Board of
Directors. CNYG Class B stockholders have the right to elect the remaining 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
Common Stock
Class B
Common Stock
Balance at December 31, 2010 ............................................................................
241,055,283
54,148,223
Conversion of CNYG Class B common stock to CNYG Class A common
stock ...........................................................................................................
10,550
(10,550)
Employee and non-employee director stock transactions(a) ..............................
(35,172)
-
Share repurchases (see Note 20) ......................................................................
(20,860,400)
-
Balance at December 31, 2011 ............................................................................
220,170,261
54,137,673
Employee and non-employee director stock transactions(a) ..............................
3,987,544
-
Share repurchases (see Note 20) ......................................................................
(13,596,687)
-
Balance at December 31, 2012 ............................................................................
210,561,118
54,137,673
Employee and non-employee director stock transactions(a) ..............................
3,037,472
-
Balance at December 31, 2013 ............................................................................
213,598,590
54,137,673
___________________________
(a) Primarily includes issuances of common stock in connection with employee and non-employee director exercises
of stock options and restricted shares granted to employees, offset by shares acquired by the Company in
connection with the fulfillment of employees' statutory tax withholding obligation for applicable income and other
employment taxes and forfeited employee restricted shares.