Cablevision 2011 Annual Report Download - page 161

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except per share amounts)
I-37
Year Ended
December 31, 2010
January 1, 2010
through
February 9, 2010
AMC Networks Madison Square Garden Total
Revenues, net .....................................................
.
$1,053,674 $131,695 $1,185,369
Income before income taxes ...............................
.
$ 269,753 $ 7,090 $ 276,843
Income tax expense(b) ........................................
.
(111,783) (11,212) (122,995)
Income (loss) from discontinued operations,
net of income taxes ........................................
.
$ 157,970 $ (4,122) $ 153,848
______________
(b) Income tax expense includes $7,368 resulting from the non-deductibility of certain transaction costs associated with
the MSG Distribution.
Year Ended December 31, 2009
AMC
Networks
Madison Square
Garden Other Total
Revenues, net ............................................
.
$947,227 $925,975 $ - $1,873,202
Income (loss) before income taxes ............
.
$219,121 $ 64,889 $(31) $ 283,979
Income tax benefit (expense) ....................
.
(93,492) (29,033) 13 (122,512)
Income (loss) from discontinued
operations, net of income taxes ............
.
$125,629 $ 35,856 $(18) $ 161,467
AMC Networks' and Madison Square Garden's results of operations reported on a stand-alone basis will
differ from results presented above due to certain reclassifications and adjustments made for purposes of
discontinued operations reporting.
The assets and liabilities of AMC Networks have been classified in the consolidated balance sheets as of
December 31, 2010 as assets and liabilities distributed to stockholders/member and consist of the
following:
Cablevision CSC Holdings
Cash and cash equivalents ..................................................................................
.
$ 79,960 $ 79,960
Accounts receivable, prepaid expenses and other current assets ........................
.
292,488 292,488
Program rights, net .............................................................................................
.
783,830 783,830
Property and equipment, net and other long-term assets ....................................
.
164,065 164,065
Deferred tax asset ...............................................................................................
.
49,607 5,307
Intangible assets .................................................................................................
.
467,955 467,955
Total assets distributed in 2011 .....................................................................
.
$1,837,905 $1,793,605
Accounts payable and accrued expenses ............................................................
.
$ 140,944 $ 140,944
Other current liabilities ......................................................................................
.
29,227 29,227
Program rights obligations .................................................................................
.
454,955 454,955
Credit facility debt .............................................................................................
.
475,000 475,000
Senior notes ........................................................................................................
.
299,552 299,552
Senior subordinated notes ..................................................................................
.
324,071 324,071
Deferred tax liability ..........................................................................................
.
- 23,648
Other long-term liabilities ..................................................................................
.
49,550 49,550
Total liabilities distributed in 2011 ...............................................................
.
1,773,299 1,796,947
Net assets (liabilities) distributed in 2011 .....................................................
.
$ 64,606 $ (3,342)