Cablevision 2014 Annual Report Download - page 45

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39
STATEMENT OF INCOME DATA (continued)
Years Ended December 31,
2013 2012
Amount % of Net
Revenues Amount % of Net
Revenues Favorable
(Unfavorable)
Revenues, net..................................................... $ 6,232,152 100% $ 6,131,675 100% $ 100,477
Operating expenses:
Technical and operating (excluding
depreciation, amortization and
impairments shown below).......................... 3,079,226 49 3,001,577 49 (77,649)
Selling, general and administrative................. 1,521,005 24 1,454,045 24 (66,960)
Restructuring expense (credits)....................... 23,550 — (770) — (24,320)
Depreciation and amortization (including
impairments)................................................ 909,147 15 907,775 15 (1,372)
Operating income .............................................. 699,224 11 769,048 13 (69,824)
Other income (expense):
Interest expense, net........................................ (600,637) (10)(660,074)(11) 59,437
Gain on sale of affiliate interests..................... — — 716 — (716)
Gain on investments, net................................. 313,167 5 294,235 5 18,932
Loss on equity derivative contracts, net.......... (198,688) (3)(211,335)(3) 12,647
Loss on interest rate swap contracts, net......... — — (1,828) — 1,828
Loss on extinguishment of debt and write-off
of deferred financing costs .......................... (22,542) — (66,213)(1) 43,671
Miscellaneous, net........................................... 2,436 — 1,770 — 666
Income from continuing operations before
income taxes................................................... 192,960 3 126,319 2 66,641
Income tax expense ........................................... (65,635) (1)(51,994)(1)(13,641)
Income from continuing operations, net of
income taxes................................................... 127,325 2 74,325 1 53,000
Income from discontinued operations, net of
income taxes................................................... 338,316 5 159,288 3 179,028
Net income......................................................... 465,641 7 233,613 4 232,028
Net loss (income) attributable to
noncontrolling interests 20 — (90) — 110
Net income attributable to Cablevision
Systems Corporation stockholders................. $ 465,661 7% $ 233,523 4% $ 232,138
The following is a reconciliation of operating income to AOCF:
Years Ended December 31,
2013 2012 Favorable
(Unfavorable)
Amount Amount
Operating income.................................................................................................... $ 699,224 $ 769,048 $ (69,824)
Share-based compensation...................................................................................... 52,715 60,705 (7,990)
Restructuring expense (credits)............................................................................... 23,550 (770) 24,320
Depreciation and amortization (including impairments) ........................................ 909,147 907,775 1,372
AOCF.................................................................................................................... $ 1,684,636 $ 1,736,758 $ (52,122)