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SEC Filings

10-Q
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 10-Q on 10/26/2017
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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 September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Revenues
$
10,458

 
$
10,037

 
$
30,979

 
$
18,728

 
 
 
 
 
 
 
 
Costs and Expenses:
 
 
 
 
 
 
 
Operating costs and expenses (exclusive of items shown separately below)
6,703

 
6,482

 
19,857

 
12,157

Depreciation and amortization
2,701

 
2,437

 
7,846

 
4,412

Other operating expenses, net
145

 
207

 
374

 
776

 
9,549

 
9,126

 
28,077

 
17,345

Income from operations
909

 
911

 
2,902

 
1,383

 
 
 
 
 
 
 
 
Other Expenses:
 
 
 
 
 
 
 
Interest expense, net
(788
)
 
(724
)
 
(2,250
)
 
(1,771
)
Loss on extinguishment of debt

 

 
(35
)
 
(110
)
Gain (loss) on financial instruments, net
17

 
71

 
(15
)
 
16

Other pension benefits (costs)
(17
)
 
13

 
9

 
533

Other expense, net
(3
)
 
(5
)
 
(14
)
 
(10
)
 
(791
)
 
(645
)
 
(2,305
)
 
(1,342
)
 
 
 
 
 
 
 
 
Income before income taxes
118

 
266

 
597

 
41

Income tax benefit (expense)
(26
)
 
(16
)
 
(99
)
 
3,135

Consolidated net income
92

 
250

 
498

 
3,176

Less: Net income attributable to noncontrolling interests
(44
)
 
(61
)
 
(156
)
 
(108
)
 
 
 
 
 
 
 
 
Net income attributable to Charter shareholders
$
48

 
$
189

 
$
342

 
$
3,068

 
 
 
 
 
 
 
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CHARTER SHAREHOLDERS:
 
 
 
 
 
 
 
Basic
$
0.19

 
$
0.70

 
$
1.31

 
$
16.52

Diluted
$
0.19

 
$
0.69

 
$
1.29

 
$
15.23

 
 
 
 
 
 
 
 
Weighted average common shares outstanding, basic
253,923,805

 
271,263,259

 
262,074,603

 
185,706,106

Weighted average common shares outstanding, diluted
258,341,851

 
275,373,202

 
266,363,602

 
208,460,148


Revenues. Total revenues grew $421 million and $12.3 billion for the three and nine months ended September 30, 2017 compared to the corresponding periods in 2016, respectively, primarily due to increases in the number of residential Internet and commercial business customers as well as price adjustments offset by a decrease in basic video customers and advertising sales, and in the nine month period due to the Transactions which increased total revenues by approximately $11.4 billion. On a pro forma basis, assuming the Transactions occurred as of January 1, 2015, total revenue growth was 4.1% for the nine months ended September 30, 2017 compared to the corresponding period in 2016.
    


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