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SEC Filings

8-K
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 8-K on 04/28/2016
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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 March 31,
 
2016
 
2015
 
% Change
REVENUES:
 
 
 
 
 
Video
$
1,170

 
$
1,129

 
3.7
 %
Internet
804

 
717

 
12.1
 %
Voice
135

 
134

 
0.5
 %
Residential revenue
2,109

 
1,980

 
6.5
 %
Small and medium business
202

 
182

 
11.3
 %
Enterprise
99

 
87

 
13.4
 %
Commercial revenue
301

 
269

 
12.0
 %
Advertising sales
72

 
66

 
8.8
 %
Other
48

 
47

 
2.7
 %
Total Revenues
2,530

 
2,362

 
7.1
 %
 
 
 
 
 
 
COSTS AND EXPENSES:
 
 
 
 
 
Programming
703

 
666

 
5.5
 %
Franchises, regulatory and connectivity
112

 
107

 
4.5
 %
Costs to service customers
421

 
423

 
(0.4
)%
Marketing
162

 
151

 
7.2
 %
Transition costs
21

 
21

 
0.6
 %
Other
228

 
194

 
17.6
 %
Total operating costs and expenses (exclusive of items shown separately below)
1,647

 
1,562

 
5.4
 %
 
 
 
 
 
 
Adjusted EBITDA
883

 
800

 
10.4
 %
 
 
 
 
 
 
Adjusted EBITDA margin
34.9
%
 
33.9
%
 
 
 
 
 
 
 
 
Depreciation and amortization
539

 
514

 
 
Stock compensation expense
24

 
19

 
 
Other operating expenses, net
18

 
18

 
 
 
 
 
 
 
 
Income from operations
302

 
249

 
 
 
 
 
 
 
 
OTHER EXPENSES:
 
 
 
 
 
Interest expense, net
(454
)
 
(289
)
 
 
Loss on derivative instruments, net
(5
)
 
(6
)
 
 
Other expense, net
(3
)
 

 
 
 
(462
)
 
(295
)
 
 
 
 
 
 
 
 
Loss before income taxes
(160
)
 
(46
)
 
 
 
 
 
 
 
 
Income tax expense
(28
)
 
(35
)
 
 
 
 
 
 
 
 
Net loss
$
(188
)
 
$
(81
)
 
 
 
 
 
 
 
 
LOSS PER COMMON SHARE, BASIC AND DILUTED
$
(1.68
)
 
$
(0.73
)
 
 
 
 
 
 
 
 
Weighted average common shares outstanding, basic and diluted
112,311,539

 
111,655,617

 
 

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.



Addendum to Charter Communications, Inc. First Quarter 2016 Earnings Release
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