XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Income Statement [Abstract]        
Revenue (including revenue from affiliates of $3,035, $3,379, $6,441 and $6,867 respectively) (See Note 15) $ 2,516,008 $ 2,474,979 $ 4,994,829 $ 4,925,235
Operating expenses:        
Programming and other direct costs (including charges from affiliates of $4,504, $1,738, $6,732 and $3,927, respectively) (See Note 15) 849,872 860,875 1,701,736 1,725,389
Other operating expenses (including charges from affiliates of $2,696, $2,161, $5,875 and $6,102, respectively) (See Note 15) 589,180 542,637 1,169,613 1,124,946
Restructuring and other expense 5,864 40,966 9,073 48,260
Depreciation and amortization (including impairments) 444,327 521,794 879,184 1,069,363
Total operating expenses 1,889,243 1,966,272 3,759,606 3,967,958
Operating income 626,765 508,707 1,235,223 957,277
Other income (expense):        
Interest expense (319,435) (351,025) (635,774) (716,236)
Interest income 64 151 91 1,810
Gain (loss) on investments and sale of affiliate interests, net 125,019 197,597 198,472 (257,876)
Gain (loss) on derivative contracts related to change in the value of equity derivative contracts related to Comcast common stock (98,840) (152,061) (152,405) 287,800
Gain (loss) on interest rate swap contracts, net of a gain of $74,835 recorded in the six months 2020 period in connection with the early termination of the swap agreements discussed below (21,574) (33,735) 54,079 (88,567)
Loss on extinguishment of debt and write-off of deferred financing costs (51,712) 0 (51,712) 0
Other income, net 2,467 669 5,326 1,592
Total other income (expense) (364,011) (338,404) (581,923) (771,477)
Income before income taxes 262,754 170,303 653,300 185,800
Income tax expense (61,820) (58,826) (173,827) (75,861)
Net income 200,934 111,477 479,473 109,939
Net loss (income) attributable to noncontrolling interests (3,274) (213) (7,677) 467
Net income attributable to Altice USA, Inc. stockholders $ 197,660 $ 111,264 $ 471,796 $ 110,406
Income per share:        
Basic income per share $ 0.43 $ 0.19 $ 1.02 $ 0.18
Basic weighted average common shares (in thousands) 456,955 587,587 463,060 604,500
Diluted income per share $ 0.43 $ 0.19 $ 1.00 $ 0.18
Diluted weighted average common shares (in thousands) 463,637 589,466 469,510 606,597
Cash dividends declared per common share   $ 0 $ 0 $ 0