Cablevision 2011 Annual Report Download - page 109

SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF REGISTRANT
(PARENT COMPANY ONLY)
NOTES
COMBINED NOTE TO FINANCIAL INFORMATION
(Dollars in thousands)
(103)
The condensed financial information of Cablevision Systems Corporation ("Cablevision") and CSC
Holdings, LLC ("CSC Holdings") for the years ended December 31, 2011, 2010 and 2009, should be read
in conjunction with the consolidated financial statements of Cablevision Systems Corporation and
subsidiaries and the consolidated financial statements of CSC Holdings, LLC and subsidiaries and the
notes thereto included elsewhere within this Annual Report on Form 10-K.
Investments in subsidiaries are based upon and reflect the respective company's proportionate share of the
subsidiaries' net assets and operating results. Amounts payable by CSC Holdings to certain of its wholly-
owned subsidiaries that are expected to be long-term have been reflected in Investments in Affiliates, net
in the condensed balance sheets of CSC Holdings. CSC Holdings' financial statements reflect certain
video operations related to selected franchise areas within the Telecommunications Services segment that
are owned directly by CSC Holdings.
Total amounts payable by Cablevision and CSC Holdings in connection with their outstanding obligations
during the five years subsequent to December 31, 2011 and thereafter, as of December 31, 2011 are as
follows:
Cablevision CSC Holdings
2012 .................... $ 26,825 $ 172,766
2013 .................... - 159,629
2014 .................... - 853,792
2015 .................... - 263,996
2016 .................... - 3,117,517
Thereafter ........... 2,903,717 (a) 2,326,000
Total $2,930,542 $6,893,700
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(a) Includes the $487,500 principal amount of Cablevision 7.75% senior notes due 2018 and $266,217 principal
amount of Cablevision 8.00% senior notes due 2020 held by Newsday Holdings LLC, which are pledged to the
lenders under its credit facility. These amounts eliminate in the consolidated financial statements of Cablevision.
Income tax benefit presented in the condensed statements of income for Cablevision and CSC Holdings
have been computed on a stand-alone basis. The income tax expense with regard to affiliate operations is
in equity in income (loss) of affiliates, net of income taxes. The deferred tax asset amounts reflected in
the condensed balance sheets for Cablevision and CSC Holdings have similarly been computed on a
stand-alone basis. The deferred tax assets of Cablevision represent the tax benefit of net operating loss
carry forwards. The deferred tax assets of CSC Holdings result from net operating loss carry forwards
and differences between the financial reporting carrying amount and the tax bases of assets and liabilities
of CSC Holdings. Deferred tax assets and deferred tax liabilities associated with affiliate operations are
included in deficit investment in affiliate and investment in affiliates, net in the condensed balance sheets
of Cablevision and CSC Holdings, respectively. In addition, the deferred tax liability of AMC Networks
Inc. as of December 31, 2010 is reflected in Investment in affiliate distributed to stockholders.