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SEC Filings

10-Q
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 10-Q on 07/27/2017
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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 June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
Revenues
$
10,357

 
$
6,161

 
$
20,521

 
$
8,691

 
 
 
 
 
 
 
 
Costs and Expenses:
 
 
 
 
 
 
 
Operating costs and expenses (exclusive of items shown separately below)
6,575

 
4,004

 
13,154

 
5,675

Depreciation and amortization
2,595

 
1,436

 
5,145

 
1,975

Other operating expenses, net
135

 
551

 
229

 
569

 
9,305

 
5,991

 
18,528

 
8,219

Income from operations
1,052

 
170

 
1,993

 
472

 
 
 
 
 
 
 
 
Other Expenses:
 
 
 
 
 
 
 
Interest expense, net
(749
)
 
(593
)
 
(1,462
)
 
(1,047
)
Loss on extinguishment of debt
(1
)
 
(110
)
 
(35
)
 
(110
)
Loss on financial instruments, net
(70
)
 
(50
)
 
(32
)
 
(55
)
Other pension benefits
13

 
520

 
26

 
520

Other expense, net
(2
)
 
(2
)
 
(11
)
 
(5
)
 
(809
)
 
(235
)
 
(1,514
)
 
(697
)
 
 
 
 
 
 
 
 
Income before income taxes
243

 
(65
)
 
479

 
(225
)
Income tax (benefit) expense
(48
)
 
3,179

 
(73
)
 
3,151

Consolidated net income
195

 
3,114

 
406

 
2,926

Less: Net income attributable to noncontrolling interests
(56
)
 
(47
)
 
(112
)
 
(47
)
 
 
 
 
 
 
 
 
Net income attributable to Charter shareholders
$
139

 
$
3,067

 
$
294

 
$
2,879

 
 
 
 
 
 
 
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CHARTER SHAREHOLDERS:
 
 
 
 
 
 
 
Basic
$
0.53

 
$
16.73

 
$
1.11

 
$
20.21

Diluted
$
0.52

 
$
15.17

 
$
1.09

 
$
19.00

 
 
 
 
 
 
 
 
Weighted average common shares outstanding, basic
263,460,911

 
183,362,776

 
266,217,549

 
142,457,435

Weighted average common shares outstanding, diluted
267,309,261

 
205,214,266

 
270,249,433

 
153,959,234


Revenues. Total revenues grew $4.2 billion or 68.1% for the three months ended June 30, 2017 as compared to the three months ended June 30, 2016, and grew $11.8 billion or 136.1% for the six months ended June 30, 2017 as compared to the six months ended June 30, 2016. 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 rate increases offset by a decrease in basic video customers. The Transactions increased revenues for three and six months ended June 30, 2017 as compared to the three and six months June 30, 2016 by approximately $3.9 billion and $11.4 billion, respectively. On a pro forma basis, assuming the Transactions occurred as of January 1, 2015, total revenue growth was 3.9% and 4.1% for the three and six months ended June 30, 2017 compared to the corresponding periods in 2016, respectively.
    


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