Time Warner Cable 2010 Annual Report Download - page 81
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TIME WARNER CABLE INC.
CONSOLIDATED STATEMENT OF OPERATIONS
2010 2009 2008
Year Ended December 31,
(in millions, except per share data)
Revenues:
Subscription:
Video ............................................... $ 10,995 $ 10,760 $ 10,524
High-speed data . . ..................................... 4,960 4,520 4,159
Voice ............................................... 2,032 1,886 1,619
Total Subscription . . ..................................... 17,987 17,166 16,302
Advertising . . .......................................... 881 702 898
Total revenues . . .......................................... 18,868 17,868 17,200
Costs and expenses:
Costs of revenues
(a)
...................................... 8,941 8,555 8,145
Selling, general and administrative
(a)
.......................... 3,057 2,830 2,854
Depreciation . .......................................... 2,961 2,836 2,826
Amortization . .......................................... 168 249 262
Restructuring costs . . ..................................... 52 81 15
Impairment of cable franchise rights .......................... — — 14,822
Loss on sale of cable systems ............................... — — 58
Total costs and expenses..................................... 15,179 14,551 28,982
Operating Income (Loss) .................................... 3,689 3,317 (11,782)
Interest expense, net . . . ..................................... (1,394) (1,319) (923)
Other expense, net ......................................... (99) (86) (367)
Income (loss) before income taxes . . . .......................... 2,196 1,912 (13,072)
Income tax benefit (provision) ................................ (883) (820) 5,109
Net income (loss).......................................... 1,313 1,092 (7,963)
Less: Net (income) loss attributable to noncontrolling interests ......... (5) (22) 619
Net income (loss) attributable to TWC shareholders . . ............... $ 1,308 $ 1,070 $ (7,344)
Net income (loss) per common share attributable to TWC common
shareholders:
Basic . ................................................ $ 3.67 $ 3.07 $ (22.55)
Diluted ............................................... $ 3.64 $ 3.05 $ (22.55)
Average common shares outstanding:
Basic . ................................................ 354.2 349.0 325.7
Diluted ............................................... 359.5 350.9 325.7
Cash dividends declared per share .............................. $ 1.60 $ — $ —
Special cash dividend declared and paid per share . . . ............... $ — $ 30.81 $ —
(a)
Costs of revenues and selling, general and administrative expenses exclude depreciation.
See accompanying notes.
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