Charter 2005 Annual Report Download - page 123
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CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 2005 FORM 10-K
Consolidated Statements of Operations
Year Ended December 31,
(Dollars in millions, except per share and share data) 2005 2004 2003
Revenues $ 5,254 $ 4,977 $ 4,819
Costs and Expenses:
Operating (excluding depreciation and amortization) 2,293 2,080 1,952
Selling, general and administrative 1,034 971 940
Depreciation and amortization 1,499 1,495 1,453
Impairment of franchises —2,433 —
Asset impairment charges 39 — —
(Gain) loss on sale of assets, net 6(86) 5
Option compensation expense, net 14 31 4
Hurricane asset retirement loss 19 — —
Special charges, net 7104 21
Unfavorable contracts and other settlements —(5) (72)
4,911 7,023 4,303
Income (loss) from operations 343 (2,046) 516
Other Income and Expenses:
Interest expense, net (1,789) (1,670) (1,557)
Gain on derivative instruments and hedging activities, net 50 69 65
Loss on debt to equity conversions —(23) —
Gain (loss) on extinguishment of debt and preferred stock 521 (31) 267
Other, net 22 3 (16)
(1,196) (1,652) (1,241)
Loss before minority interest, income taxes and cumulative effect of accounting
change (853) (3,698) (725)
Minority Interest 1 19 377
Loss before income taxes and cumulative effect of accounting change (852) (3,679) (348)
Income Tax Benefit (Expense) (115) 103 110
Loss before cumulative effect of accounting change (967) (3,576) (238)
Cumulative Effect of Accounting Change, Net of Tax — (765) —
Net loss (967) (4,341) (238)
Dividends on preferred stock — redeemable (3) (4) (4)
Net loss applicable to common stock $ (970) $ (4,345) $ (242)
Loss Per Common Share, basic and diluted $ (3.13) $ (14.47) $ (0.82)
Weighted average common shares outstanding, basic and diluted 310,159,047 300,291,877 294,597,519
The accompanying notes are an integral part of these consolidated financial statements.
F-5