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SEC Filings

10-Q
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 10-Q on 11/03/2016
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The following table sets forth the consolidated statements of operations for the periods presented (dollars in millions, except per share data):

 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
 
 
 
 
 
 
 
 
Revenues
$
10,037

 
$
2,450

 
$
18,728

 
$
7,242

 
 
 
 
 
 
 
 
Costs and Expenses:
 
 
 
 
 
 
 
Operating costs and expenses (exclusive of items shown separately below)
6,482

 
1,620

 
12,157

 
4,802

Depreciation and amortization
2,437

 
538

 
4,412

 
1,580

Other operating expenses, net
194

 
19

 
243

 
69

 
9,113

 
2,177

 
16,812

 
6,451

Income from operations
924

 
273

 
1,916

 
791

 
 
 
 
 
 
 
 
Other Expenses:
 
 
 
 
 
 
 
Interest expense, net
(724
)
 
(353
)
 
(1,771
)
 
(871
)
Loss on extinguishment of debt

 

 
(110
)
 
(128
)
Gain (loss) on financial instruments, net
71

 
(5
)
 
16

 
(10
)
Other expense, net
(5
)
 
(3
)
 
(10
)
 
(3
)
 
(658
)
 
(361
)
 
(1,875
)
 
(1,012
)
 
 
 
 
 
 
 
 
Income (loss) before income taxes
266

 
(88
)
 
41

 
(221
)
Income tax benefit (expense)
(16
)
 
142

 
3,135

 
72

 
 
 
 
 
 
 
 
Consolidated net income (loss)
250

 
54

 
3,176

 
(149
)
Less: Net income attributable to noncontrolling interests
(61
)
 

 
(108
)
 

 
 
 
 
 
 
 
 
Net income (loss) attributable to Charter shareholders
$
189

 
$
54

 
$
3,068

 
$
(149
)
 
 
 
 
 
 
 
EARNINGS (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CHARTER SHAREHOLDERS:
 
 
 
 
 
 
 
Basic
$
0.70

 
$
0.54

 
$
16.52

 
$
(1.48
)
Diluted
$
0.69

 
$
0.53

 
$
15.23

 
$
(1.48
)
 
 
 
 
 
 
 
 
Weighted average common shares outstanding, basic
271,263,259

 
101,205,400

 
185,706,106

 
101,080,587

Weighted average common shares outstanding, diluted
275,373,202

 
102,481,924

 
208,460,148

 
101,080,587


Revenues. Total revenues grew $7.6 billion or 310% for the three months ended September 30, 2016 as compared to the three months ended September 30, 2015, and grew $11.5 billion or 159% for the nine months ended September 30, 2016 as compared to the nine months ended September 30, 2015. Revenue growth primarily reflects the Transactions and increases in the number of residential Internet and triple play customers and in commercial business customers, growth in rates driven by higher equipment revenue and rate increases offset by a decrease in basic video customers. The Transactions increased revenues for three and nine months ended September 30, 2016 as compared to the three and nine months September 30, 2015 by approximately $7.4 billion and $11.0 billion, respectively. On a pro forma basis, assuming the Transactions occurred as of January 1, 2015, total revenue growth was 7% for both the three and nine months ended September 30, 2016 compared to the corresponding periods in 2015.
    


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