Time Warner Cable 2006 Annual Report Download - page 106
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TIME WARNER CABLE INC.
CONSOLIDATED STATEMENT OF OPERATIONS
2006 2005 2004
Year Ended December 31,
(in millions, except per share data)
Revenues:
Subscription:
Video . . . ................................................. $ 7,632 $6,044 $5,706
High-speed data ............................................ 2,756 1,997 1,642
Digital Phone .............................................. 715 272 29
Total Subscription ............................................ 11,103 8,313 7,377
Advertising ................................................. 664 499 484
Total revenues
(a)
............................................... 11,767 8,812 7,861
Costs and expenses:
Costs of revenues
(a)(b)
........................................... 5,356 3,918 3,456
Selling, general and administrative
(a)(b)
............................... 2,126 1,529 1,450
Depreciation . ................................................. 1,883 1,465 1,329
Amortization . ................................................. 167 72 72
Merger-related and restructuring costs ............................... 56 42 —
Total costs and expenses ......................................... 9,588 7,026 6,307
Operating Income .............................................. 2,179 1,786 1,554
Interest expense, net
(a)
........................................... (646) (464) (465)
Income from equity investments, net ................................ 129 43 41
Minority interest expense, net...................................... (108) (64) (56)
Other income, net .............................................. 2 1 11
Income before income taxes, discontinued operations and cumulative effect of
accounting change ............................................ 1,556 1,302 1,085
Income tax provision ............................................ (620) (153) (454)
Income before discontinued operations and cumulative effect of accounting
change ..................................................... 936 1,149 631
Discontinued operations, net of tax .................................. 1,038 104 95
Cumulative effect of accounting change, net of tax ...................... 2 — —
Net income . . ................................................. $ 1,976 $1,253 $ 726
Basic and diluted income per common share before discontinued operations and
cumulative effect of accounting change ............................. $ 0.95 $ 1.15 $ 0.63
Discontinued operations .......................................... 1.05 0.10 0.10
Cumulative effect of accounting change .............................. — — —
Basic and diluted net income per common share ........................ $ 2.00 $ 1.25 $ 0.73
Weighted-average common shares outstanding ......................... 990 1,000 1,000
(a)
Includes the following income (expenses) resulting from transactions with related companies:
2006 2005 2004
Year Ended December 31,
(in millions)
Revenues ............................................................. $ 94 $106 $112
Costs of revenues ........................................................ (830) (637) (623)
Selling, general and administrative. . . .......................................... 9 24 23
Interest expense, net . . .................................................... (73) (158) (168)
(b)
Costs of revenues and selling, general and administrative expenses exclude depreciation.
See accompanying notes.
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