Cablevision 2011 Annual Report Download - page 106
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CSC HOLDINGS, LLC
(a wholly-owned subsidiary of Cablevision Systems Corporation)
SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF REGISTRANT
(PARENT COMPANY ONLY)
STATEMENTS OF INCOME
Years ended December 31, 2011, 2010 and 2009
(Dollars in thousands)
(100)
2011 2010 2009
Revenues, net ........................................................................... $ 650,545 $ 656,245 $ 629,347
Operating expenses:
Technical and operating (excluding depreciation,
amortization and impairments shown below) .................... 348,419 346,395 331,479
Selling, general and administrative ....................................... 122,190 115,802 117,058
Restructuring expense (credits) ............................................. 805 (245) (913)
Depreciation and amortization (including impairments) ....... 179,588 178,618 181,640
651,002 640,570 629,264
Operating income (loss) ........................................................... (457) 15,675 83
Other income (expense):
Interest expense ..................................................................... (420,673) (437,312) (470,300)
Interest income ...................................................................... 593 835 2,389
Equity in income of affiliates, net of income taxes ............... 696,470 741,881 612,766
Gain (loss) on investments, net ............................................. - 54 (545)
Loss on interest rate swap contracts, net ............................... (7,973) (85,013) (75,631)
Loss on extinguishment of debt and write-off of deferred
financing costs ................................................................... (92,692) - (72,870)
Miscellaneous, net ................................................................. (366) (353) (435)
175,359 220,092 (4,626)
Income (loss) from continuing operations before income
taxes ...................................................................................... 174,902 235,767 (4,543)
Income tax benefit ................................................................ 197,752 184,662 234,299
Income from continuing operations ......................................... 372,654 420,429 229,756
Income from discontinued operations, net of income taxes ..... 53,623 153,848 161,467
Net income attributable to CSC Holdings, LLC's sole
member ................................................................................. $ 426,277 $ 574,277 $ 391,223