Cablevision 2013 Annual Report Download - page 61

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(55)
record income tax benefit of approximately $53,000 associated with the reversal of a noncurrent liability
relating to an uncertain tax position.
Income from discontinued operations
Income from discontinued operations, net of income taxes, for the years ended December 31, 2013 and
2012 reflects the following items:
Years Ended December 31,
2013 2012
Litigation settlement, net of legal fees, net of income taxes .................................. $103,636 $200,250
Income (loss) of Bresnan Cable, including gain on sale in 2013, net of income
taxes ................................................................................................................. 259,692 (29,295)
Loss of Clearview Cinemas, including loss on sale in 2013, net of income taxes ... (25,012) (11,667)
Income from discontinued operations, net of income taxes - Cablevision .............. 338,316 159,288
Income tax benefit recognized at Cablevision, not applicable to CSC Holdings..... (7,605) -
Income from discontinued operations, net of income taxes - CSC Holdings .......... $330,711 $159,288
See Note 5 to our consolidated financial statements for additional information regarding discontinued
operations.
Business Segments Results
Cable
The table below sets forth, for the periods presented, certain historical financial information and the
percentage that those items bear to revenues, net for our Cable segment:
Years Ended December 31,
2013 2012
Amount
% of Net
Revenues
Amount
% of Net
Revenues
Favorable
(Unfavorable)
Revenues, net .................
.
$5,576,011 100% $5,479,108
100%
$ 96,903
Technical and operating
expenses (excluding
depreciation and
amortization shown
below) ........................
.
2,742,709 49 2,645,835
48
(96,874)
Selling, general and
administrative
expenses .....................
.
1,126,126 20 1,073,589
20
(52,537)
Restructuring expense ....... 11,283 - -
-
(11,283)
Depreciation and
amortization ................
.
743,431 13 742,681
14
(750)
Operating income........
.
$ 952,462 17% $1,017,003
19%
$(64,541)
The following is a reconciliation of operating income to AOCF:
Years Ended December 31,
2013
2012
Favorable
Amount
Amount
(Unfavorable)
Operating income .................................................................. $ 952,462
$1,017,003
$(64,541)
Share-based compensation ..................................................... 32,353
38,357
(6,004)
Restructuring expense............................................................ 11,283
-
11,283
Depreciation and amortization ............................................... 743,431
742,681
750
AOCF ............................................................................. $1,739,529
$1,798,041
$(58,512)