Cablevision 2011 Annual Report Download - page 185

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except per share amounts)
I-61
Subsequent to the utilization of Cablevision's NOLs and tax credit carry forwards, payments for income
taxes are expected to increase significantly.
CSC Holdings
CSC Holdings and its 80% or more owned subsidiaries were included in the consolidated federal income
tax returns of Cablevision for the years presented herein. CSC Holdings was converted to a limited
liability company on November 10, 2009. The income tax provision for CSC Holdings is determined on
a stand-alone basis for all periods presented, including the period subsequent to the LLC conversion, as if
CSC Holdings filed separate consolidated income tax returns.
Income tax expense (benefit) attributable to continuing operations consists of the following components:
Years Ended December 31,
2011 2010 2009
Current expense:
Federal ................................................................................. $ (835) $ 6,190 $ 11,174
State and other ...................................................................... 33,491 17,134 8,798
32,656 23,324 19,972
Deferred expense (benefit):
Federal ................................................................................. 210,415 226,188 125,182
State ..................................................................................... 42,989 (2,293) 38,111
253,404 223,895 163,293
Tax expense relating to uncertain tax positions, including
accrued interest .................................................................... 6,538 3,667 990
Income tax expense ................................................................. $292,598 $250,886 $184,255
The current federal income tax benefit for the year ended December 31, 2011 is primarily attributable to
the carry back of a capital loss from 2009 to 2007. The current federal tax expense for the year ended
December 31, 2010 is primarily attributable to the estimated federal income tax liability of CSC Holdings
on a stand-alone basis, partially offset by the impact of the requested change in tax accounting method
with regard to certain installation costs that was approved by the IRS during 2010 whereby the Company
recorded a cumulative adjustment to reflect current deductibility of such costs for income tax purposes.
In connection with the tax allocation policy between CSC Holdings and Cablevision, CSC Holdings has
recorded a payable due to Cablevision and Cablevision has recorded a receivable due from CSC
Holdings, both in the amount of $773, representing the estimated federal income tax liability of CSC
Holdings for the year ended December 31, 2011 as determined on a stand-alone basis as if CSC Holdings
filed separate federal consolidated income tax returns.