Cablevision 2014 Annual Report Download - page 34

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28
CSC Holdings, LLC
Years Ended December 31,
2014 2013 2012 (a) 2011 2010
(Dollars in thousands)
Revenues, net....................................................................... $6,460,946 $6,232,152 $6,131,675 $6,162,608 $6,087,864
Operating expenses:
Technical and operating (excluding depreciation,
amortization and impairments shown below)................ 3,136,808 3,079,226 3,001,577 2,653,978 2,563,575
Selling, general and administrative................................... 1,533,898 1,521,005 1,454,045 1,398,061 1,421,737
Restructuring expense (credits)......................................... 2,480 23,550 (770) 6,311 (58)
Depreciation and amortization (including impairments) .. 866,502 909,147 907,775 846,533 874,334
Operating income ................................................................ 921,258 699,224 769,048 1,257,725 1,228,276
Other income (expense):......................................................
Interest expense, net.......................................................... (304,831)(315,572)(406,783)(443,385)(463,749)
Gain on sale of affiliate interests....................................... — — 716 683 2,051
Gain on investments, net................................................... 129,659 313,167 294,235 37,384 109,813
Gain (loss) on equity derivative contracts, net.................. (45,055)(198,688)(211,335) 1,454 (72,044)
Loss on interest rate swap contracts, net........................... — — (1,828)(7,973)(85,013)
Loss on extinguishment of debt and write-off of deferred
financing costs............................................................... (9,618)(23,144)(66,213)(92,692) —
Miscellaneous, net............................................................. 4,988 2,436 1,770 1,265 1,434
Income from continuing operations before income taxes ... 696,401 477,423 379,610 754,461 720,768
Income tax expense........................................................... (236,450)(188,079)(152,547)(328,714)(270,497)
Income from continuing operations, net of income taxes ... 459,951 289,344 227,063 425,747 450,271
Income from discontinued operations, net of income
taxes (b)............................................................................ 2,822 330,711 159,288 954 124,655
Net income........................................................................... 462,773 620,055 386,351 426,701 574,926
Net loss (income) attributable to noncontrolling interests .. (765) 20 (90)(424)(649)
Net income attributable to CSC Holdings, LLC's sole
member ............................................................................ $ 462,008 $ 620,075 $ 386,261 $ 426,277 $ 574,277
Amounts attributable to CSC Holdings, LLC's sole
member:
Income from continuing operations, net of income taxes.$ 459,186 $ 289,364 $ 226,973 $ 425,323 $ 449,622
Income from discontinued operations, net of income
taxes............................................................................... 2,822 330,711 159,288 954 124,655
Net income........................................................................ $ 462,008 $ 620,075 $ 386,261 $ 426,277 $ 574,277
(a) See Note 19 to our consolidated financial statements for information regarding the impact of Superstorm Sandy.
(b) See Note 5 to our consolidated financial statements for additional information regarding discontinued operations.