Dish Network 2015 Annual Report Download - page 73

Download and view the complete annual report

Please find page 73 of the 2015 Dish Network annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 188

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188

63
RESULTS OF OPERATIONS
Year Ended December 31, 2015 Compared to the Year Ended December 31, 2014.
For the Years Ended December 31, Variance
Statements of Operations Data 2015 2014 Amount %
(In thousands)
Revenue:
Subscriber-related revenue $ 14,953,559 $ 14,495,091 $ 458,468 3.2
Equipment sales and other revenue 115,342 148,296 (32,954) (22.2)
Total revenue 15,068,901 14,643,387 425,514 2.9
Costs and Expenses:
Subscriber-related expenses 8,783,009 8,313,046 469,963 5.7
% of Subscriber-related revenue 58.7 % 57.4 %
Satellite and transmission expenses 762,832 693,114 69,718 10.1
% of Subscriber-related revenue 5.1 % 4.8 %
Cost of sales - equipment, services and other 91,654 107,777 (16,123) (15.0)
Subscriber acquisition costs 1,682,548 1,811,318 (128,770) (7.1)
General and administrative expenses 777,507 815,745 (38,238) (4.7)
% of Total revenue 5.2 % 5.6 %
FCC auction expense (Note 15) 515,555 —
515,555 *
Depreciation and amortization 1,000,048 1,077,936 (77,888) (7.2)
Impairment of long-lived assets (Note 8) 123,352 — 123,352 *
Total costs and expenses 13,736,505 12,818,936 917,569 7.2
Operating income (loss) 1,332,396 1,824,451 (492,055) (27.0)
Other Income (Expense):
Interest income 19,523 61,841 (42,318) (68.4)
Interest expense, net of amounts capitalized (494,010) (611,209) 117,199 19.2
Other, net 278,043 (69,341) 347,384 *
Total other income (expense) (196,444) (618,709) 422,265 68.2
Income (loss) before income taxes 1,135,952 1,205,742 (69,790) (5.8)
Income tax (provision) benefit, net (366,676) (276,840) (89,836) (32.5)
Effective tax rate 32.3 % 23.0 %
Income (loss) from continuing operations 769,276 928,902 (159,626) (17.2)
Income (loss) from discontinued operations, net of tax — — — *
N
et income (loss) 769,276 928,902 (159,626) (17.2)
Less: Net income (loss) attributable to noncontrolling interests, net of tax 22,184 (15,791) 37,975 *
N
et income (loss) attributable to DISH Network $ 747,092 $ 944,693 $ (197,601) (20.9)
Other Data:
Pay-TV subscribers, as of period end (in millions) 13.897 13.978 (0.081) (0.6)
Pay-TV subscriber additions, gross (in millions) 2.773 2.601 0.172 6.6
Pay-TV subscriber additions (losses), net (in millions) (0.081) (0.079) (0.002) (2.5)
Pay-TV average monthly subscriber churn rate (“Pay-TV churn rate”) 1.71 % 1.59 % 0.12 % 7.5
Pay-TV average subscriber acquisition cost per subscriber (“Pay-TV SAC”) $ 723 $ 853 $ (130) (15.2)
Pay-TV average monthly revenue per subscriber (“Pay-TV ARPU”) $ 86.79 $ 83.77 $ 3.02 3.6
Broadband subscribers, as of period end (in millions) 0.623 0.577 0.046 8.0
Broadband subscriber additions, gross (in millions) 0.237 0.295 (0.058) (19.7)
Broadband subscriber additions (losses), net (in millions) 0.046 0.141 (0.095) (67.4)
Adjusted EBITDA $ 2,588,303 $ 2,848,837 $ (260,534) (9.1)
* Percentage is not meaningful.