Cablevision 2011 Annual Report Download - page 131
Download and view the complete annual report
Please find page 131 of the 2011 Cablevision annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.![](/annual_reports_html/Cablevision-2011-Annual-Report-169d78a/bg_131.png)
CABLEVISION SYSTEMS CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
Years ended December 31, 2011, 2010 and 2009
(Dollars in thousands, except per share amounts)
I-7
2011 2010 2009
Revenues, net (including revenues, net from affiliates of $5,222,
$4,381 and $4,183, respectively) (see Note 17) ..............................
.
$6,700,848 $6,177,575 $5,900,074
Operating expenses:
Technical and operating (excluding depreciation, amortization
and impairments shown below and including charges from
affiliates of $178,831, $171,642 and $144,542, respectively)
(see Note 17) ...............................................................................
.
2,968,540 2,663,748 2,532,844
Selling, general and administrative (net of charges to affiliates of
$16,994, $23,083 and $36,552, respectively) (see Note 17) ........
.
1,482,344 1,440,731 1,389,525
Restructuring expense (credits) .......................................................
.
6,311 (58) 5,583
Depreciation and amortization (including impairments) .................
.
1,014,974 887,092 916,408
5,472,169 4,991,513 4,844,360
Operating income ................................................................................
.
1,228,679 1,186,062 1,055,714
Other income (expense):
Interest expense ...............................................................................
.
(746,587) (711,293) (673,192)
Interest income ................................................................................
.
881 542 3,378
Gain on sale of affiliate interests .....................................................
.
683 2,051 -
Gain (loss) on investments, net .......................................................
.
37,384 109,813 (977)
Gain (loss) on equity derivative contracts, net ................................
.
1,454 (72,044) 631
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) (110,049) (73,457)
Miscellaneous, net ...........................................................................
.
1,265 1,447 543
(805,585) (864,546) (818,705)
Income from continuing operations before income taxes ....................
.
423,094 321,516 237,009
Income tax expense .........................................................................
.
(184,436) (113,767) (113,177)
Income from continuing operations .....................................................
.
238,658 207,749 123,832
Income from discontinued operations, net of income taxes .................
.
53,623 153,848 161,467
Net income ..........................................................................................
.
292,281 361,597 285,299
Net loss (income) attributable to noncontrolling interests ...................
.
(424) (649) 273
Net income attributable to Cablevision Systems Corporation
stockholders ....................................................................................
.
$ 291,857 $ 360,948 $ 285,572
INCOME PER SHARE:
Basic net income per share attributable to Cablevision Systems
Corporation stockholders:
Income from continuing operations .................................................
.
$0.86 $0.71 $0.43
Income from discontinued operations .............................................
.
$0.19 $0.52 $0.55
Net income ......................................................................................
.
$1.06 $1.23 $0.98
Basic weighted average common shares (in thousands) ..................
.
276,369 293,165 291,759
Diluted net income per share attributable to Cablevision Systems
Corporation stockholders:
Income from continuing operations .................................................
.
$0.84 $ 0.69 $0.42
Income from discontinued operations .............................................
.
$0.19 $0.51 $0.54
Net income ......................................................................................
.
$1.02 $ 1.20 $0.96
Diluted weighted average common shares (in thousands) ...............
.
284,904 301,880 298,444
Amounts attributable to Cablevision Systems Corporation
stockholders:
Income from continuing operations, net of income taxes ................
.
$ 238,234 $ 207,100 $ 124,105
Income from discontinued operations, net of income taxes .............
.
53,623 153,848 161,467
Net income ......................................................................................
.
$ 291,857 $ 360,948 $ 285,572
Cash dividends declared and paid per share of common stock ............
.
$0.575 $0.475 $0.40
See accompanying notes to consolidated financial statements.