Cablevision 2011 Annual Report Download - page 57

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(51)
STATEMENT OF INCOME DATA (continued)
Years Ended December 31,
2010 2009
% of Net % of Net Favorable
Amount Revenues Amount Revenues (Unfavorable)
Revenues, net ...................................... $6,177,575 100% $5,900,074 100% $ 277,501
Operating expenses:
Technical and operating
(excluding depreciation,
amortization and impairments
shown below) .............................. 2,663,748 43 2,532,844 43 (130,904)
Selling, general and
administrative .............................. 1,440,731 23 1,389,525 24 (51,206)
Restructuring expense (credits) ....... (58) - 5,583 - 5,641
Depreciation and amortization
(including impairments) .............. 887,092 14 916,408 16 29,316
Operating income ................................ 1,186,062 19 1,055,714 18 130,348
Other income (expense):
Interest expense, net ........................ (710,751) (12) (669,814) (11) (40,937)
Gain on sale of affiliate interests ..... 2,051 - - - 2,051
Gain (loss) on investments, net ....... 109,813 2 (977) - 110,790
Gain (loss) on equity derivative
contracts, net................................ (72,044) (1) 631 - (72,675)
Loss on interest rate swap
contracts, net................................ (85,013) (1) (75,631) (1) (9,382)
Loss on extinguishment of debt
and write-off of deferred
financing costs ............................. (110,049) (2) (73,457) (1) (36,592)
Miscellaneous, net ........................... 1,447 - 543 - 904
Income from continuing operations
before income taxes ........................ 321,516 5 237,009 4 84,507
Income tax expense ............................ (113,767) (2) (113,177) (2) (590)
Income from continuing operations .... 207,749 3 123,832 2 83,917
Income from discontinued
operations, net of income taxes ...... 153,848 2 161,467 3 (7,619)
Net income ......................................... 361,597 6 285,299 5 76,298
Net loss (income) attributable to
noncontrolling interests .................. (649) - 273 - (922)
Net income attributable to
Cablevision Systems Corporation
stockholders .................................... $ 360,948 6% $ 285,572 5% $ 75,376
The following is a reconciliation of operating income to AOCF:
Years Ended December 31,
2010 2009 Favorable
Amount Amount (Unfavorable)
Operating income ............................................................................
.
$1,186,062 $1,055,714 $130,348
Share-based compensation ..............................................................
.
50,289 49,820 469
Depreciation and amortization (including impairments) .................
.
887,092 916,408 (29,316)
Restructuring expense (credits) .......................................................
.
(58) 5,583 (5,641)
AOCF ..........................................................................................
.
$2,123,385 $2,027,525 $ 95,860