Charter 2006 Annual Report Download - page 51

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CHARTER COMMUNICATIONS, INC. 2006 FORM 10-K
RESULTS OF OPERATIONS
The following table sets forth the percentages of revenues that items in the accompanying consolidated statements of operations
constitute for the indicated periods (dollars in millions, except share data):
Year Ended December 31,
2006 2005 2004
Revenues $ 5,504 100% $ 5,033 100% $ 4,760 100%
Costs and Expenses:
Operating (excluding depreciation and amortization) 2,438 44% 2,203 44% 1,994 42%
Selling, general and administrative 1,165 21% 1,012 20% 965 20%
Depreciation and amortization 1,354 25% 1,443 29% 1,433 30%
Impairment of franchises —— —— 2,297 48%
Asset impairment charges 159 3% 39 1% ——
Other operating expenses, net 21 — 32 —13 —
5,137 93% 4,729 94% 6,702 140%
Operating income (loss) from continuing operations 367 7% 304 6% (1,942) (40)%
Interest expense, net (1,887) (1,789) (1,670)
Gain (loss) on extinguishment of debt and preferred stock 101 521 (31)
Other income, net 20 73 68
Loss from continuing operations before income taxes and
cumulative effect of accounting change (1,399) (891) (3,575)
Income tax benefit (expense) (187) (112) 134
Loss from continuing operations before cumulative effect of
accounting change (1,586) (1,003) (3,441)
Income (loss) from discontinued operations, net of tax 216 36 (135)
Loss before cumulative effect of accounting change (1,370) (967) (3,576)
Cumulative effect of accounting change, net of tax ——(765)
Net loss (1,370) (967) (4,341)
Dividends on preferred stock — redeemable —(3) (4)
Net loss applicable to common stock $ (1,370) $ (970) $ (4,345)
Loss per common share, basic and diluted:
Loss from continuing operations before cumulative effect of
accounting change $ (4.78) $ (3.24) $ (11.47)
Net loss $ (4.13) $ (3.13) $ (14.47)
Weighted average common shares outstanding 331,941,788 310,209,047 300,341,877
Revenues. Average monthly revenue per analog video customer, increases, and incremental video revenues from OnDemand,
measured on an annual basis, has increased from $67 in 2004 to DVR and high-definition television services. Cable system sales,
$74 in 2005 and $82 in 2006. Average monthly revenue per net of acquisitions, in 2004, 2005, and 2006 reduced the increase
analog video customer represents total annual revenue, divided by in revenues in 2006 as compared to 2005 by approximately
twelve, divided by the average number of analog video customers $24 million, and in 2005 as compared to 2004 by approximately
during the respective period. Revenue growth in 2006 and 2005 $30 million.
primarily reflects increases in the number of customers, price
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