Cablevision 2013 Annual Report Download - page 67

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Selling, general, and administrative expenses for the year ended December 31, 2013 increased $11,463
(4%) as compared to the prior year. The net increase is attributable to the following:
Increase in corporate costs, primarily employee related costs, net of allocations to business units ..... $16,405
Decrease in expenses at Newsday (from $106,637 to $105,395) ...................................................... (1,242)
Decrease in expenses at MSG Varsity due to reduced activities ....................................................... (9,532)
Increase in expenses, primarily employee related costs, at other businesses ..................................... 3,786
Intra-segment eliminations.............................................................................................................. 2,046
$11,463
Prior to the Clearview Sale and the Bresnan Sale, we allocated certain corporate overhead, 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
(previously included in the Telecommunications Services segment). Such expenses were eliminated as a
result of the Clearview Sale and the Bresnan Sale and have remained or have been reclassified to the
Other segment.
Restructuring expense for the year ended December 31, 2013 amounted to $10,709 compared to
restructuring credits of $770 for the year ended December 31, 2012. The 2013 amount included $10,038
associated primarily with the elimination of 191 positions as a result of a strategic evaluation of the
Company's operations and $1,205 recorded in connection with an early lease termination. Offsetting
these expenses are restructuring credits of $534 related to adjustments to severance and facility
realignment provisions recorded in prior restructuring plans.
Depreciation and amortization (including impairments) for the year ended December 31, 2013 increased
$6,182 (8%) as compared to the prior year. The net increase consists of an increase in impairment
charges of $34,626 (including the impairment of intangible assets recorded at Newsday of $37,458 in
2013 and $13,000 in 2012, and impairments related to other equipment of $10,997 in 2013 and $829 in
2012), and an increase due to depreciation of new asset purchases, partially offset by decreases due to
certain assets becoming fully depreciated and an adjustment recorded in 2013 related to prior years of
$10,690.
Adjusted operating cash flow deficit increased $4,409 (2%) for the year ended December 31, 2013 as
compared to 2012 (including Newsday's AOCF deficit of $15,399 in 2013 compared to $7,207 in 2012).
The increase was due primarily to decreases in revenues, net, partially offset by a decrease in operating
expenses excluding depreciation and amortization and share-based compensation, as discussed above.