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CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 8-K on 02/04/2016
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CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND OPERATING DATA
(dollars in millions, except per share data)
 
Three Months Ended December 31,
 
Year Ended December 31,
 
2015
 
2014
 
% Change
 
2015
 
2014
 
% Change
REVENUES:
 
 
 
 
 
 
 
 
 
 
 
Video
$
1,167

 
$
1,134

 
2.9
 %
 
$
4,587

 
$
4,443

 
3.2
 %
Internet
781

 
670

 
16.6
 %
 
3,003

 
2,576

 
16.6
 %
Voice
135

 
139

 
(2.7
)%
 
539

 
575

 
(6.4
)%
Residential revenue
2,083

 
1,943

 
7.2
 %
 
8,129

 
7,594

 
7.0
 %
Small and medium business
199

 
178

 
11.5
 %
 
764

 
676

 
13.0
 %
Enterprise
95

 
84

 
14.1
 %
 
363

 
317

 
14.8
 %
Commercial revenue
294

 
262

 
12.3
 %
 
1,127

 
993

 
13.5
 %
Advertising sales
87

 
107

 
(18.9
)%
 
309

 
341

 
(9.5
)%
Other
48

 
48

 
(1.2
)%
 
189

 
180

 
5.0
 %
Total Revenues
2,512

 
2,360

 
6.4
 %
 
9,754

 
9,108

 
7.1
 %
 
 
 
 
 
 
 
 
 
 
 
 
COSTS AND EXPENSES:
 
 
 
 
 
 
 
 
 
 
 
Programming
674

 
625

 
7.9
 %
 
2,678

 
2,459

 
8.9
 %
Franchises, regulatory and connectivity
111

 
109

 
1.7
 %
 
435

 
428

 
1.6
 %
Costs to service customers
420

 
421

 
(0.1
)%
 
1,705

 
1,679

 
1.5
 %
Marketing
152

 
152

 
 %
 
619

 
610

 
1.4
 %
Transition costs
22

 
11

 
NM

 
72

 
14

 
NM

Other
225

 
197

 
14.8
 %
 
839

 
728

 
15.5
 %
Total operating costs and expenses (exclusive of items shown separately below)
1,604

 
1,515

 
5.9
 %
 
6,348

 
5,918

 
7.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
908

 
845

 
7.5
 %
 
3,406

 
3,190

 
6.8
 %
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA margin
36.2
%
 
35.8
%
 
 
 
34.9
%
 
35.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
545

 
534

 
 
 
2,125

 
2,102

 
 
Stock compensation expense
20

 
14

 
 
 
78

 
55

 
 
Other operating expenses, net
20

 
20

 
 
 
89

 
62

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from operations
323

 
277

 
 
 
1,114

 
971

 
 
 
 
 
 
 
 
 
 
 
 
 
 
OTHER EXPENSES:
 
 
 
 
 
 
 
 
 
 
 
Interest expense, net
(435
)
 
(273
)
 
 
 
(1,306
)
 
(911
)
 
 
Loss on extinguishment of debt

 

 
 
 
(128
)
 

 
 
Gain (loss) on derivative instruments, net
6

 
(4
)
 
 
 
(4
)
 
(7
)
 
 
Other expense, net
(4
)
 

 
 
 
(7
)
 

 
 
 
(433
)
 
(277
)
 
 
 
(1,445
)
 
(918
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
(110
)
 

 
 
 
(331
)
 
53

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income tax benefit (expense)
(12
)
 
(48
)
 
 
 
60

 
(236
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss
$
(122
)
 
$
(48
)
 
 
 
$
(271
)
 
$
(183
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LOSS PER COMMON SHARE, BASIC AND DILUTED
$
(1.09
)
 
$
(0.44
)
 
 
 
$
(2.43
)
 
$
(1.70
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding, basic and diluted
112,106,255

 
110,242,507

 
 
 
111,869,771

 
108,374,160

 
 

Adjusted EBITDA is a non-GAAP term. See page 6 of this addendum for the reconciliation of adjusted EBITDA to net loss as defined by GAAP.

All percentages are calculated using whole numbers. Minor differences may exist due to rounding. Certain prior year amounts have been reclassified to conform with the 2015 presentation.

NM - Not meaningful

Addendum to Charter Communications, Inc. Fourth Quarter 2015 Earnings Release
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