Cablevision 2014 Annual Report Download - page 121

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COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except share and per share amounts)
F-32
Year Ended December 31, 2013
Bresnan
Cable (a)
Clearview
Cinemas
(b) (c) Litigation
Settlement (d) Total
Revenues, net ........................................................................... $ 262,323 $ 27,307 $ — $ 289,630
Income (loss) before income taxes........................................... $ 439,870 $ (42,437) $ 173,690 $ 571,123
Income tax benefit (expense) (e).............................................. (180,178) 17,425 (70,054)(232,807)
Income (loss) from discontinued operations, net of taxes-
Cablevision ........................................................................... 259,692 (25,012) 103,636 338,316
Income tax benefit recognized at Cablevision, not applicable
to CSC Holdings................................................................... (6,602) — (1,003)(7,605)
Income (loss) from discontinued operations, net of income
taxes- CSC Holdings............................................................. $ 253,090 $ (25,012) $ 102,633 $ 330,711
(a) Includes the pretax gain recognized in connection with the Bresnan Sale of approximately $408,000.
(b) Includes the pretax loss recognized in connection with the Clearview Sale of approximately $19,300.
(c) As a result of the Company's annual impairment test in the first quarter of 2013, the Company recorded an impairment
charge of $10,347, relating to goodwill of the Company's Clearview business which reduced the carrying value to zero.
The Company determined the fair value of the Clearview business, which was a single reporting unit, assuming highest
and best use, based on either an income or market approach on a theater by theater basis.
(d) Represents primarily the proceeds from the final allocation of the DISH Network, LLC litigation settlement. See discussion
below for additional information.
(e) Includes tax benefit of $7,605 resulting from a decrease in the valuation allowance for certain state net operating loss
carry forwards.
Year Ended December 31, 2012
Bresnan
Cable Clearview
Cinemas Litigation
Settlement (a) Total
Revenues, net ........................................................................... $ 508,710 $ 65,076 $ — $ 573,786
Income (loss) before income taxes........................................... $ (49,452) $ (19,683) $ 339,004 $ 269,869
Income tax benefit (expense) ................................................... 20,157 8,016 (138,754)(110,581)
Income (loss) from discontinued operations, net of income
taxes...................................................................................... $(29,295) $ (11,667) $ 200,250 $ 159,288
(a) Represents primarily the gain relating to the settlement of litigation with DISH Network, LLC. See discussion below for
additional information.
Litigation Settlement
In connection with the AMC Networks Distribution in June 2011 (whereby Cablevision distributed to its stockholders all of the
outstanding common stock of AMC Networks, a company which consisted principally of national programming networks, including
AMC, WE tv, IFC and Sundance Channel, previously owned and operated by the Company's Rainbow segment), CSC Holdings
and AMC Networks and its subsidiary, Rainbow Programming Holdings, LLC (the "AMC Parties") entered into an agreement
(the "VOOM Litigation Agreement") which provided that CSC Holdings and the AMC Parties would share equally in the proceeds
(including in the value of any non-cash consideration) of any settlement or final judgment in the litigation with DISH Network,
LLC ("DISH Network") that were received by subsidiaries of AMC Networks from VOOM HD Holdings LLC.