Cablevision 2012 Annual Report Download - page 163

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except per share amounts)
I-35
fair values of the Newsday business indefinite-lived intangibles, which relate primarily to the trademarks
associated with its mastheads, were based on discounted future cash flows calculated utilizing the relief-
from-royalty method. Changes in such estimates or the application of alternative assumptions could
produce significantly different results.
The Company's impairment analysis as of December 31, 2012, 2011 and 2010 resulted in pre-tax
impairment charges of $13,000, $11,000 and $7,800, respectively, related to the excess of the carrying
value over the estimated fair value of certain indefinite-lived intangibles. These pre-tax impairment
charges are included in depreciation and amortization (including impairments) in the Other segment. No
goodwill impairment was recorded for the years ended December 31, 2012, 2011 and 2010.
In addition, the Company recorded impairment charges of $1,131, $2,506 and $1,803 in 2012, 2011 and
2010, respectively, included in depreciation and amortization related primarily to certain other long-lived
assets of the Company's theatre operations and Newsday business included in the Other segment.
NOTE 6. DISCONTINUED OPERATIONS
On June 30, 2011 and February 9, 2010, the Company completed the AMC Networks Distribution and the
MSG Distribution, respectively, (see Note 1). As a result, the operating results of the Company's
Rainbow segment through the date of the AMC Networks Distribution and the operating results of the
Company's Madison Square Garden segment through the date of the MSG Distribution, as well as
transaction costs, have been classified in the consolidated statements of income as discontinued
operations for all periods presented. No gain or loss was recognized in connection with the AMC
Networks Distribution or the MSG Distribution.
Operating results of discontinued operations for the years ended December 31, 2012, 2011 and 2010 are
summarized below:
December 31,
2012
Revenues, net .................................................................................................................................. $ -
Income before income taxes(a) ........................................................................................................ $ 339,004
Income tax expense ......................................................................................................................... (138,754)
Income from discontinued operations, net of income taxes ............................................................ $ 200,250
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(a) Represents primarily the gain relating to the settlement of litigation with DISH Network. See Note 20 for
additional information.
January 1, 2011
through
June 30, 2011
AMC Networks
Revenues, net .................................................................................................................................. $551,480
Income before income taxes ............................................................................................................ $115,015
Income tax expense(a) ..................................................................................................................... (61,392)
Income from discontinued operations, net of income taxes ............................................................ $ 53,623
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(a) In connection with the AMC Networks Distribution, the Company recorded income tax expense of $6,406 resulting
from the non-deductibility of certain transaction costs and $3,969 resulting from the recognition of a deferred tax
gain.