Cablevision 2013 Annual Report Download - page 57

Download and view the complete annual report

Please find page 57 of the 2013 Cablevision annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 196

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196

(51)
STATEMENT OF INCOME DATA (continued)
Years Ended December 31,
2012 2011
% of Net
% of Net Favorable
Amount Revenues
Amount
Revenues (Unfavorable)
Revenues, net ...................................... $6,131,675 100%
$6,162,608
100% $ (30,933)
Operating expenses:
Technical and operating
(excluding depreciation,
amortization and impairments
shown below) .............................. 3,001,577 49
2,653,978
43 (347,599)
Selling, general and
administrative .............................. 1,454,045 24
1,398,061
23 (55,984)
Restructuring expense (credits) ....... (770) -
6,311
- 7,081
Depreciation and amortization
(including impairments) .............. 907,775 15
846,533
14 (61,242)
Operating income ................................ 769,048 13
1,257,725
20 (488,677)
Other income (expense):
Interest expense, net ........................ (660,074) (11)
(685,967)
(11) 25,893
Gain on sale of affiliate interests ..... 716 -
683
- 33
Gain on investments, net ................. 294,235 5
37,384
1 256,851
Gain (loss) on equity derivative
contracts, net................................ (211,335) (3)
1,454
- (212,789)
Loss on interest rate swap
contracts, net................................ (1,828) -
(7,973)
- 6,145
Loss on extinguishment of debt
and write-off of deferred
financing costs ............................. (66,213) (1)
(92,692)
(2) 26,479
Miscellaneous, net ........................... 1,770 -
1,265
- 505
Income from continuing operations
before income taxes ........................ 126,319 2
511,879
8 (385,560)
Income tax expense ............................ (51,994) (1)
(220,552)
(4) 168,558
Income from continuing operations .... 74,325 1
291,327
5 (217,002)
Income from discontinued
operations, net of income taxes ...... 159,288 3
954
- 158,334
Net income ......................................... 233,613 4
292,281
5 (58,668)
Net income attributable to
noncontrolling interests .................. (90) -
(424)
- 334
Net income attributable to
Cablevision Systems Corporation
stockholders .................................... $ 233,523 4%
$ 291,857
5% $ (58,334)
The following is a reconciliation of operating income to AOCF:
Years Ended December 31,
2012 2011 Favorable
Amount Amount (Unfavorable)
Operating income ............................................................................
.
$ 769,048 $1,257,725 $(488,677)
Share-based compensation ..............................................................
.
60,705 44,228 16,477
Depreciation and amortization (including impairments) .................
.
907,775 846,533 61,242
Restructuring expense (credits) .......................................................
.
(770) 6,311 (7,081)
AOCF ..........................................................................................
.
$1,736,758 $2,154,797 $(418,039)