Time Warner Cable 2011 Annual Report Download - page 78
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TIME WARNER CABLE INC.
CONSOLIDATED STATEMENT OF OPERATIONS
Year Ended December 31,
2011 2010 2009
(in millions, except per share data)
Revenues ..................................................... $ 19,675 $ 18,868 $ 17,868
Costs and expenses:
Costs of revenues(a) ........................................... 9,138 8,873 8,455
Selling, general and administrative(a) ............................. 3,311 3,125 2,930
Depreciation ................................................ 2,994 2,961 2,836
Amortization ................................................ 33 168 249
Merger-related and restructuring costs ............................ 70 52 81
Asset impairments ........................................... 60 — —
Total costs and expenses ........................................ 15,606 15,179 14,551
Operating Income .............................................. 4,069 3,689 3,317
Interest expense, net ............................................ (1,518) (1,394) (1,319)
Other expense, net ............................................. (89) (99) (86)
Income before income taxes ...................................... 2,462 2,196 1,912
Income tax provision ........................................... (795) (883) (820)
Net income ................................................... 1,667 1,313 1,092
Less: Net income attributable to noncontrolling interests ............... (2) (5) (22)
Net income attributable to TWC shareholders ........................ $ 1,665 $ 1,308 $ 1,070
Net income per common share attributable to TWC common shareholders:
Basic ...................................................... $ 5.02 $ 3.67 $ 3.07
Diluted .................................................... $ 4.97 $ 3.64 $ 3.05
Average common shares outstanding:
Basic ...................................................... 329.7 354.2 349.0
Diluted .................................................... 335.3 359.5 350.9
Cash dividends declared per share ................................. $ 1.92 $ 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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