Cablevision 2014 Annual Report Download - page 136

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except share and per share amounts)
F-47
CSC Holdings
CSC Holdings and its 80% or more owned subsidiaries are included in the consolidated federal income tax returns of Cablevision.
The income tax provision for CSC Holdings is determined on a stand-alone basis for all periods presented as if CSC Holdings
filed separate consolidated income tax returns.
Income tax expense (benefit) attributable to continuing operations consists of the following components:
Years Ended December 31,
2014 2013 2012
Current expense:
Federal...................................................................................................................... $ 189,609 $ 66,800 $ 47,250
State.......................................................................................................................... 46,573 21,579 39,561
236,182 88,379 86,811
Deferred expense (benefit):
Federal...................................................................................................................... 35,445 89,832 79,731
State.......................................................................................................................... 17,744 10,035 (7,352)
53,189 99,867 72,379
Tax benefit relating to uncertain tax positions, including accrued interest................ (52,921)(167)(6,643)
Income tax expense..................................................................................................... $ 236,450 $ 188,079 $ 152,547
Income tax expense attributable to discontinued operations for the year ended December 31, 2014 of $2,206 is comprised of current
income tax expense and deferred income tax benefit of $2,479 and $(273), respectively. Income tax expense attributable to
discontinued operations for the year ended December 31, 2013 of $240,412 is comprised of current income tax expense and deferred
income tax benefit of $299,353 and $(58,941), respectively. Income tax expense attributable to discontinued operations for the
year ended December 31, 2012 of $110,581 is comprised of current and deferred income tax expense of $28,242 and $82,339,
respectively.
In connection with the tax allocation policy between CSC Holdings and Cablevision, CSC Holdings decreased the affiliate receivable
due from Cablevision and increased the affiliate payable due to Cablevision by $230,786 in the aggregate, representing the estimated
current income tax liability of CSC Holdings for the year ended December 31, 2014 as determined on a stand-alone basis, partially
offset by an excess tax benefit realized of $4,978 and current income tax liabilities that are payable by CSC Holdings of $2,897.
The income tax expense attributable to CSC Holdings' continuing operations differs from the amount derived by applying the
statutory federal rate to pretax income principally due to the effect of the following items: