Charter 2004 Annual Report Download - page 113

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CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 2004 FORM 10-K
Consolidated Statements of Operations
Year Ended December 31,
(Dollars in millions, except per share and share data) 2004 2003 2002
Revenues $ 4,977 $ 4,819 $ 4,566
Costs and Expenses:
Operating (excluding depreciation and amortization) 2,080 1,952 1,807
Selling, general and administrative 971 940 963
Depreciation and amortization 1,495 1,453 1,436
Impairment of franchises 2,433 — 4,638
(Gain) loss on sale of fixed assets (86) 53
Option compensation expense, net 31 45
Special charges, net 104 21 36
Unfavorable contracts and other settlements (5) (72) —
7,023 4,303 8,888
Income (loss) from operations (2,046) 516 (4,322)
Other Income and Expenses:
Interest expense, net (1,670) (1,557) (1,503)
Gain (loss) on derivative instruments and hedging activities, net 69 65 (115)
Loss on debt to equity conversions (23) — —
Gain (loss) on extinguishment of debt (31) 267 —
Other, net 3(16) (4)
(1,652) (1,241) (1,622)
Loss before minority interest, income taxes and cumulative effect of accounting
change (3,698) (725) (5,944)
Minority Interest 19 377 3,176
Loss before income taxes and cumulative effect of accounting change (3,679) (348) (2,768)
Income Tax Benefit 103 110 460
Loss before cumulative effect of accounting change (3,576) (238) (2,308)
Cumulative Effect of Accounting Change, Net of Tax (765) — (206)
Net loss (4,341) (238) (2,514)
Dividends on preferred stock — redeemable (4) (4) (3)
Net loss applicable to common stock $ (4,345) $ (242) $ (2,517)
Loss Per Common Share, basic and diluted $ (14.47) $ (0.82) $ (8.55)
Weighted average common shares outstanding, basic and diluted 300,291,877 294,597,519 294,440,261
The accompanying notes are an integral part of these consolidated financial statements.
F-5