0001702780--12-312022FYfalse00017027802022-01-012022-03-3100017027802022-04-22xbrli:shares00017027802022-03-31iso4217:USD00017027802021-12-310001702780atus:CSCHoldingsMember2022-03-310001702780atus:CSCHoldingsMember2021-12-31iso4217:USDxbrli:shares0001702780us-gaap:CommonClassAMember2021-12-310001702780us-gaap:CommonClassAMember2022-03-310001702780us-gaap:CommonClassBMember2021-12-310001702780us-gaap:CommonClassBMember2022-03-310001702780us-gaap:CommonClassCMember2022-03-310001702780us-gaap:CommonClassCMember2021-12-3100017027802021-01-012021-06-3000017027802021-01-012021-03-310001702780us-gaap:RetainedEarningsMember2022-01-012022-03-310001702780us-gaap:CommonStockMemberus-gaap:CommonClassAMember2021-12-310001702780us-gaap:CommonStockMemberus-gaap:CommonClassBMember2021-12-310001702780us-gaap:AdditionalPaidInCapitalMember2021-12-310001702780us-gaap:RetainedEarningsMember2021-12-310001702780us-gaap:TreasuryStockMember2021-12-310001702780us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001702780us-gaap:ParentMember2021-12-310001702780us-gaap:NoncontrollingInterestMember2021-12-310001702780us-gaap:ParentMember2022-01-012022-03-310001702780us-gaap:NoncontrollingInterestMember2022-01-012022-03-310001702780us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310001702780us-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-310001702780us-gaap:CommonStockMemberus-gaap:CommonClassAMember2022-01-012022-03-310001702780us-gaap:CommonStockMemberus-gaap:CommonClassBMember2022-01-012022-03-310001702780us-gaap:TreasuryStockMember2022-01-012022-03-310001702780us-gaap:CommonStockMemberus-gaap:CommonClassAMember2022-03-310001702780us-gaap:CommonStockMemberus-gaap:CommonClassBMember2022-03-310001702780us-gaap:AdditionalPaidInCapitalMember2022-03-310001702780us-gaap:RetainedEarningsMember2022-03-310001702780us-gaap:TreasuryStockMember2022-03-310001702780us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-310001702780us-gaap:ParentMember2022-03-310001702780us-gaap:NoncontrollingInterestMember2022-03-310001702780us-gaap:CommonStockMemberus-gaap:CommonClassAMember2020-12-310001702780us-gaap:CommonStockMemberus-gaap:CommonClassBMember2020-12-310001702780us-gaap:AdditionalPaidInCapitalMember2020-12-310001702780us-gaap:RetainedEarningsMember2020-12-310001702780us-gaap:TreasuryStockMember2020-12-310001702780us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001702780us-gaap:ParentMember2020-12-310001702780us-gaap:NoncontrollingInterestMember2020-12-3100017027802020-12-310001702780us-gaap:RetainedEarningsMember2021-01-012021-03-310001702780us-gaap:ParentMember2021-01-012021-03-310001702780us-gaap:NoncontrollingInterestMember2021-07-012021-09-300001702780us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310001702780us-gaap:CommonStockMemberus-gaap:CommonClassAMember2021-01-012021-03-310001702780us-gaap:CommonStockMemberus-gaap:CommonClassBMember2021-01-012021-03-310001702780us-gaap:TreasuryStockMember2021-01-012021-03-310001702780us-gaap:NoncontrollingInterestMember2021-01-012021-03-310001702780us-gaap:CommonStockMemberus-gaap:CommonClassAMember2021-03-310001702780us-gaap:CommonStockMemberus-gaap:CommonClassBMember2021-03-310001702780us-gaap:AdditionalPaidInCapitalMember2021-03-310001702780us-gaap:RetainedEarningsMember2021-03-310001702780us-gaap:TreasuryStockMember2021-03-310001702780us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310001702780us-gaap:ParentMember2021-03-310001702780us-gaap:NoncontrollingInterestMember2021-03-3100017027802021-03-310001702780atus:CSCHoldingsMember2022-01-012022-03-310001702780atus:CSCHoldingsMember2021-01-012021-03-310001702780us-gaap:AdditionalPaidInCapitalMemberatus:CSCHoldingsMember2022-01-012022-03-310001702780us-gaap:AdditionalPaidInCapitalMemberatus:CSCHoldingsMember2021-12-310001702780atus:CSCHoldingsMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001702780us-gaap:ParentMemberatus:CSCHoldingsMember2021-12-310001702780atus:CSCHoldingsMemberus-gaap:NoncontrollingInterestMember2021-12-310001702780us-gaap:ParentMemberatus:CSCHoldingsMember2022-01-012022-03-310001702780atus:CSCHoldingsMemberus-gaap:NoncontrollingInterestMember2022-01-012022-03-310001702780atus:CSCHoldingsMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310001702780us-gaap:AdditionalPaidInCapitalMemberatus:CSCHoldingsMember2022-03-310001702780atus:CSCHoldingsMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-310001702780us-gaap:ParentMemberatus:CSCHoldingsMember2022-03-310001702780atus:CSCHoldingsMemberus-gaap:NoncontrollingInterestMember2022-03-310001702780us-gaap:AdditionalPaidInCapitalMemberatus:CSCHoldingsMember2020-12-310001702780atus:CSCHoldingsMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001702780us-gaap:ParentMemberatus:CSCHoldingsMember2020-12-310001702780atus:CSCHoldingsMemberus-gaap:NoncontrollingInterestMember2020-12-310001702780atus:CSCHoldingsMember2020-12-310001702780us-gaap:AdditionalPaidInCapitalMemberatus:CSCHoldingsMember2021-01-012021-03-310001702780us-gaap:ParentMemberatus:CSCHoldingsMember2021-01-012021-03-310001702780atus:CSCHoldingsMemberus-gaap:NoncontrollingInterestMember2021-01-012021-03-310001702780atus:CSCHoldingsMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310001702780us-gaap:AdditionalPaidInCapitalMemberatus:CSCHoldingsMember2021-03-310001702780atus:CSCHoldingsMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310001702780us-gaap:ParentMemberatus:CSCHoldingsMember2021-03-310001702780atus:CSCHoldingsMemberus-gaap:NoncontrollingInterestMember2021-03-310001702780atus:CSCHoldingsMember2021-03-31atus:segment0001702780atus:BroadbandMember2022-01-012022-03-310001702780atus:BroadbandMember2021-01-012021-03-310001702780atus:PayTVMember2022-01-012022-03-310001702780atus:PayTVMember2021-01-012021-03-310001702780atus:TelephonyMember2022-01-012022-03-310001702780atus:TelephonyMember2021-01-012021-03-310001702780atus:TotalResidentialRevenueMember2022-01-012022-03-310001702780atus:TotalResidentialRevenueMember2021-01-012021-03-310001702780atus:BusinessServicesandWholesaleMember2022-01-012022-03-310001702780atus:BusinessServicesandWholesaleMember2021-01-012021-03-310001702780atus:AdvertisingandNewsMember2022-01-012022-03-310001702780atus:AdvertisingandNewsMember2021-01-012021-03-310001702780atus:MobileMember2022-01-012022-03-310001702780atus:MobileMember2021-01-012021-03-310001702780atus:ProductsAndServicesOtherMember2022-01-012022-03-310001702780atus:ProductsAndServicesOtherMember2021-01-012021-03-310001702780us-gaap:FranchiseMember2022-01-012022-03-310001702780us-gaap:FranchiseMember2021-01-012021-03-310001702780us-gaap:CustomerContractsMembersrt:MinimumMember2022-01-012022-03-310001702780us-gaap:CustomerContractsMembersrt:MaximumMember2022-01-012022-03-31xbrli:pure0001702780atus:RestrictedStockAwardMember2022-01-012022-03-310001702780atus:RestrictedStockAwardMember2021-01-012021-03-310001702780us-gaap:CustomerRelationshipsMember2022-03-310001702780us-gaap:CustomerRelationshipsMember2021-12-310001702780srt:MinimumMemberus-gaap:CustomerRelationshipsMember2022-01-012022-03-310001702780srt:MaximumMemberus-gaap:CustomerRelationshipsMember2022-01-012022-03-310001702780us-gaap:TradeNamesMember2022-03-310001702780us-gaap:TradeNamesMember2021-12-310001702780srt:MinimumMemberus-gaap:TradeNamesMember2022-01-012022-03-310001702780us-gaap:TradeNamesMembersrt:MaximumMember2022-01-012022-03-310001702780us-gaap:OtherIntangibleAssetsMember2022-03-310001702780us-gaap:OtherIntangibleAssetsMember2021-12-310001702780srt:MinimumMemberus-gaap:OtherIntangibleAssetsMember2022-01-012022-03-310001702780srt:MaximumMemberus-gaap:OtherIntangibleAssetsMember2022-01-012022-03-310001702780us-gaap:SeniorNotesMemberatus:CSCHoldingsCablevision5875NotesDueSeptember152022Member2022-03-310001702780us-gaap:SeniorNotesMemberatus:CSCHoldingsCablevision5875NotesDueSeptember152022Member2021-12-310001702780us-gaap:SeniorNotesMemberatus:CSCHoldings5.25NotesdueJune12024Member2022-03-310001702780us-gaap:SeniorNotesMemberatus:CSCHoldings5.25NotesdueJune12024Member2021-12-310001702780us-gaap:SeniorNotesMemberatus:CSCHoldingsCablevision7500NotesDueApril12028Member2022-03-310001702780us-gaap:SeniorNotesMemberatus:CSCHoldingsCablevision7500NotesDueApril12028Member2021-12-310001702780us-gaap:SeniorNotesMemberatus:CSCHoldings7.500NotesdueApril12028Member2022-03-310001702780us-gaap:SeniorNotesMemberatus:CSCHoldings7.500NotesdueApril12028Member2021-12-310001702780us-gaap:SeniorNotesMemberatus:CSCHoldings5750NotesDueJanuary152030Member2022-03-310001702780us-gaap:SeniorNotesMemberatus:CSCHoldings5750NotesDueJanuary152030Member2021-12-310001702780us-gaap:SeniorNotesMemberatus:CSCHoldings4625NotesDueDecember12030Member2022-03-310001702780us-gaap:SeniorNotesMemberatus:CSCHoldings4625NotesDueDecember12030Member2021-12-310001702780us-gaap:SeniorNotesMemberatus:CSCHoldings5000NotesDueNovember152031Member2022-03-310001702780us-gaap:SeniorNotesMemberatus:CSCHoldings5000NotesDueNovember152031Member2021-12-310001702780atus:CSCHoldings5.5NotesdueApril152027Memberus-gaap:SecuredDebtMember2022-03-310001702780atus:CSCHoldings5.5NotesdueApril152027Memberus-gaap:SecuredDebtMember2021-12-310001702780atus:A5.375SeniorGuaranteedNotesDueFebruary12028Memberus-gaap:SecuredDebtMember2022-03-310001702780atus:A5.375SeniorGuaranteedNotesDueFebruary12028Memberus-gaap:SecuredDebtMember2021-12-310001702780atus:CSCHoldings6500NotesDueFebruary12029Memberus-gaap:SecuredDebtMember2022-03-310001702780atus:CSCHoldings6500NotesDueFebruary12029Memberus-gaap:SecuredDebtMember2021-12-310001702780atus:CSCHoldings4125NotesDueDecember12030Memberus-gaap:SecuredDebtMember2022-03-310001702780atus:CSCHoldings4125NotesDueDecember12030Memberus-gaap:SecuredDebtMember2021-12-310001702780us-gaap:SeniorNotesMemberatus:Cablevision8.0NotesdueApril152020Member2022-03-310001702780us-gaap:SeniorNotesMemberatus:Cablevision8.0NotesdueApril152020Member2021-12-310001702780us-gaap:SeniorNotesMemberatus:CSCHoldings4500SeniorGuaranteedNotesDueNovember152021Member2022-03-310001702780us-gaap:SeniorNotesMemberatus:CSCHoldings4500SeniorGuaranteedNotesDueNovember152021Member2021-12-310001702780us-gaap:RevolvingCreditFacilityMemberatus:CSCHoldingsRevolvingCreditFacilityMember2022-03-310001702780us-gaap:RevolvingCreditFacilityMemberatus:CSCHoldingsRevolvingCreditFacilityMember2021-12-310001702780us-gaap:SecuredDebtMemberatus:CSCHoldingsTermLoanBMember2022-03-310001702780us-gaap:SecuredDebtMemberatus:CSCHoldingsTermLoanBMember2021-12-310001702780us-gaap:SecuredDebtMemberatus:IncrementalTermLoanB3Member2022-03-310001702780us-gaap:SecuredDebtMemberatus:IncrementalTermLoanB3Member2021-12-310001702780us-gaap:SecuredDebtMemberatus:IncrementalTermLoanB5Member2022-03-310001702780us-gaap:SecuredDebtMemberatus:IncrementalTermLoanB5Member2021-12-310001702780us-gaap:SeniorNotesMemberatus:CablevisionLightpathLLC5625NotesDueSeptember152028Member2022-03-310001702780us-gaap:SeniorNotesMemberatus:CablevisionLightpathLLC5625NotesDueSeptember152028Member2021-12-310001702780atus:CablevisionLightpathLLC3875NotesDueSeptember152027Memberus-gaap:SecuredDebtMember2022-03-310001702780atus:CablevisionLightpathLLC3875NotesDueSeptember152027Memberus-gaap:SecuredDebtMember2021-12-310001702780us-gaap:SecuredDebtMemberatus:CablevisionLightpathTermBLoanMember2022-03-310001702780us-gaap:SecuredDebtMemberatus:CablevisionLightpathTermBLoanMember2021-12-310001702780atus:CablevisionLightpathRevolvingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2022-03-310001702780atus:CablevisionLightpathRevolvingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2021-12-310001702780atus:CablevisionLightpathMember2022-03-310001702780atus:CablevisionLightpathMember2021-12-310001702780us-gaap:SecuredDebtMember2022-03-310001702780us-gaap:SecuredDebtMember2021-12-310001702780us-gaap:LoansPayableMember2022-03-310001702780us-gaap:LoansPayableMember2021-12-310001702780us-gaap:CreditFacilityDomain2022-03-310001702780us-gaap:CreditFacilityDomain2021-12-310001702780us-gaap:SeniorNotesMember2022-03-310001702780us-gaap:SeniorNotesMember2021-12-310001702780us-gaap:LoansPayableMember2022-03-310001702780us-gaap:LoansPayableMember2021-12-310001702780us-gaap:ShortTermDebtMember2022-03-310001702780us-gaap:ShortTermDebtMember2021-12-310001702780us-gaap:LongTermDebtMember2022-03-310001702780us-gaap:LongTermDebtMember2021-12-310001702780us-gaap:SecuredDebtMemberus-gaap:LondonInterbankOfferedRateLIBORMemberatus:CSCHoldingsRevolvingCreditFacilityMember2022-01-012022-03-310001702780us-gaap:SecuredDebtMemberus-gaap:BaseRateMemberatus:CablevisionLightpathTermBLoanMember2020-09-012020-09-300001702780us-gaap:SecuredDebtMemberus-gaap:EurodollarMemberatus:CablevisionLightpathTermBLoanMember2020-09-012020-09-300001702780atus:CablevisionLightpathLLCMemberatus:CablevisionLightpathLLCMember2022-03-310001702780atus:ComcastSyntheticMonetizationCloseoutMember2022-01-012022-03-3100017027802021-01-012021-01-310001702780us-gaap:InterestRateSwapMemberatus:CurrentDerivativeContractsMemberus-gaap:NondesignatedMember2022-03-310001702780us-gaap:InterestRateSwapMemberatus:CurrentDerivativeContractsMemberus-gaap:NondesignatedMember2021-12-310001702780us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMemberatus:LongTermDerivativeContractsMember2022-03-310001702780us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMemberatus:LongTermDerivativeContractsMember2021-12-310001702780us-gaap:NondesignatedMember2022-03-310001702780us-gaap:NondesignatedMember2021-12-310001702780us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMemberatus:ShorttermLiabilitiesUnderDerivativeContractsMember2022-03-310001702780us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMemberatus:ShorttermLiabilitiesUnderDerivativeContractsMember2021-12-310001702780us-gaap:NondesignatedMemberatus:LongtermLiabilitiesUnderDerivativeContractsMemberus-gaap:ForwardContractsMember2022-03-310001702780us-gaap:NondesignatedMemberatus:LongtermLiabilitiesUnderDerivativeContractsMemberus-gaap:ForwardContractsMember2021-12-310001702780us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMemberatus:LongtermLiabilitiesUnderDerivativeContractsMember2022-03-310001702780us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMemberatus:LongtermLiabilitiesUnderDerivativeContractsMember2021-12-310001702780atus:MonetizationContractsMember2022-01-012022-03-310001702780atus:MonetizationContractsMember2021-01-012021-03-310001702780us-gaap:InterestRateSwapMemberatus:DerivativeInstrumentMaturityDate2025Fixed153Member2022-03-310001702780us-gaap:InterestRateSwapMemberatus:DerivativeInstrumentMaturityDate2025Fixed1625Member2022-03-310001702780us-gaap:InterestRateSwapMemberatus:DerivativeInstrumentMaturityDate2025Fixed1458Member2022-03-310001702780us-gaap:InterestRateSwapMemberatus:DerivativeInstrumentMaturityDate2026Fixed29155Member2022-03-310001702780us-gaap:InterestRateSwapMemberatus:DerivativeInstrumentMaturityDate2026Fixed2.9025Member2022-03-310001702780us-gaap:InterestRateSwapMemberatus:DerivativeInstrumentMaturing2026Fixed29025Member2022-03-310001702780us-gaap:FairValueInputsLevel1Memberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001702780us-gaap:FairValueInputsLevel1Memberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001702780us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001702780us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForwardContractsMember2022-03-310001702780us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForwardContractsMember2021-12-310001702780us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001702780us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:LineOfCreditMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-03-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:LineOfCreditMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-03-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:LineOfCreditMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:LineOfCreditMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SecuredDebtMember2022-03-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:SecuredDebtMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-03-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SecuredDebtMember2021-12-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:SecuredDebtMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberatus:SeniorGuaranteeNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-03-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberatus:SeniorGuaranteeNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-03-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberatus:SeniorGuaranteeNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberatus:SeniorGuaranteeNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SeniorDebtObligationsMember2022-03-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:SeniorDebtObligationsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-03-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SeniorDebtObligationsMember2021-12-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:SeniorDebtObligationsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:NotesPayableOtherPayablesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-03-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:NotesPayableOtherPayablesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-03-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:NotesPayableOtherPayablesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001702780atus:CSCHoldingsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:NotesPayableOtherPayablesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310001702780us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-03-310001702780us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-03-310001702780us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001702780us-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310001702780atus:A2017LTIPMemberus-gaap:EmployeeStockOptionMember2022-01-012022-03-310001702780atus:A2017LTIPMemberus-gaap:EmployeeStockOptionMember2021-01-012021-03-310001702780atus:A2017LTIPMemberus-gaap:EmployeeStockOptionMember2022-03-310001702780atus:A2017LTIPMemberus-gaap:PerformanceSharesMember2022-01-012022-03-310001702780atus:A2017LTIPMemberus-gaap:PerformanceSharesMember2021-01-012021-03-310001702780atus:A2017LTIPMemberus-gaap:PerformanceSharesMember2022-03-310001702780us-gaap:RestrictedStockMemberatus:A2019LTIPMember2022-01-012022-03-310001702780us-gaap:RestrictedStockMemberatus:A2019LTIPMember2021-01-012021-03-310001702780us-gaap:RestrictedStockMemberatus:A2019LTIPMember2022-03-310001702780atus:CarryUnitPlanMemberus-gaap:RestrictedStockUnitsRSUMember2022-01-012022-03-310001702780atus:CarryUnitPlanMemberus-gaap:RestrictedStockUnitsRSUMember2021-01-012021-03-310001702780atus:CarryUnitPlanMemberus-gaap:RestrictedStockUnitsRSUMember2022-03-310001702780atus:A2017LTIPMemberus-gaap:EmployeeStockOptionMember2021-12-310001702780atus:A2017LTIPMember2021-12-310001702780atus:A2017LTIPMember2021-01-012021-03-310001702780atus:A2017LTIPMember2022-01-012022-03-310001702780atus:A2017LTIPMember2022-03-310001702780atus:A2017LTIPMemberus-gaap:PerformanceSharesMember2021-12-310001702780atus:A2017LTIPMemberatus:PerformanceUnitsMember2022-01-012022-03-310001702780atus:A2017LTIPMemberus-gaap:RestrictedStockUnitsRSUMember2021-12-310001702780atus:A2017LTIPMemberus-gaap:RestrictedStockUnitsRSUMember2022-01-012022-03-310001702780atus:A2017LTIPMemberus-gaap:RestrictedStockUnitsRSUMember2022-03-310001702780atus:ClassA1ManagementIncentiveUnitsMemberatus:A2021LightpathIncentivePlanMember2022-01-012022-03-310001702780atus:A2021LightpathIncentivePlanMemberatus:ClassA2ManagementIncentiveUnitsMember2022-01-012022-03-310001702780atus:AlticeManagementAmericasMembersrt:AffiliatedEntityMember2022-03-310001702780atus:AlticeManagementAmericasMembersrt:AffiliatedEntityMember2021-12-310001702780atus:OtherRelatedPartyMembersrt:AffiliatedEntityMember2022-03-310001702780atus:OtherRelatedPartyMembersrt:AffiliatedEntityMember2021-12-310001702780srt:AffiliatedEntityMember2022-03-310001702780srt:AffiliatedEntityMember2021-12-310001702780atus:AlticeManagementInternationalMembersrt:AffiliatedEntityMember2022-03-310001702780atus:AlticeManagementInternationalMembersrt:AffiliatedEntityMember2021-12-31

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549
FORM 10-Q
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
 For the quarterly period endedMarch 31, 2022

OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
 For the transition period from to 
 
Commission File NumberRegistrant; State of Incorporation; Address and Telephone NumberIRS Employer Identification No.
    
001-38126
atus-20220331_g1.jpg
38-3980194
Altice USA, Inc.
  Delaware  
  1 Court Square West  
  Long Island City, New York11101  
 (516)803-2300 
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes
No
Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files).
Yes
No
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer", "accelerated filer", "smaller reporting company", and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one)
Large Accelerated FilerAccelerated filer
Non-accelerated filerSmaller reporting company
(Do not check if a smaller reporting company)Emerging growth company




If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Act).
YesNo
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Class A Common Stock, par value $0.01 per share ATUSNYSE
Number of shares of common stock outstanding as of April 22, 2022454,654,818 





ALTICE USA, INC. AND SUBSIDIARIES
FORM 10-Q
TABLE OF CONTENTS
Page
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements  
ALTICE USA, INC. AND SUBSIDIARIES
Consolidated Financial Statements
Consolidated Balance Sheets - March 31, 2022 (Unaudited) and December 31, 2021
Consolidated Statements of Operations - Three months ended March 31, 2022 and 2021 (Unaudited)
Consolidated Statements of Comprehensive Income - Three months ended March 31, 2022 and 2021 (Unaudited)
Consolidated Statements of Stockholders' Deficiency - Three months ended March 31, 2022 and 2021 (Unaudited)
Consolidated Statements of Cash Flows - Three months ended March 31, 2022 and 2021 (Unaudited)
Combined Notes to Consolidated Financial Statements (Unaudited)
Supplemental Financial Statements Furnished: 
CSC HOLDINGS, LLC AND SUBSIDIARIES
Consolidated Financial Statements
Consolidated Balance Sheets - March 31, 2022 (Unaudited) and December 31, 2021
Consolidated Statements of Operations - Three months ended March 31, 2022 and 2021 (Unaudited)
Consolidated Statements of Comprehensive Income - Three months ended March 31, 2022 and 2021 (Unaudited)
Consolidated Statements of Member's Deficiency - Three months ended March 31, 2022 and 2021 (Unaudited)
Consolidated Statements of Cash Flows - Three months ended March 31, 2022 and 2021 (Unaudited)
Combined Notes to Consolidated Financial Statements (Unaudited)
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
PART II. OTHER INFORMATION
Item 1. Legal Proceedings
Item 6. Exhibits
SIGNATURES

1


Part I.        FINANCIAL INFORMATION
This Form 10-Q contains statements that constitute forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Securities Act of 1934, as amended.  In this Form 10-Q there are statements concerning our future operating results and future financial performance.  Words such as "expects", "anticipates", "believes", "estimates", "may", "will", "should", "could", "potential", "continue", "intends", "plans" and similar words and terms used in the discussion of future operating results, future financial performance and future events identify forward-looking statements.  Investors are cautioned that such forward-looking statements are not guarantees of future performance, results or events and involve risks and uncertainties and that actual results or developments may differ materially from the forward-looking statements as a result of various factors. 
We operate in a highly competitive, consumer and technology driven and rapidly changing business that is affected by government regulation and economic, strategic, technological, political and social conditions. Various factors could adversely affect our operations, business or financial results in the future and cause our actual results to differ materially from those contained in the forward-looking statements. In addition, important factors that could cause our actual results to differ materially from those in our forward-looking statements include:
competition for broadband, video and telephony customers from existing competitors (such as broadband communications companies, direct broadcast satellite ("DBS") providers, wireless data and telephony providers, and Internet-based providers) and new fiber-based competitors entering our footprint;
changes in consumer preferences, laws and regulations or technology that may cause us to change our operational strategies;
increased difficulty negotiating programming agreements on favorable terms, if at all, resulting in increased costs to us and/or the loss of popular programming;
increasing programming costs and delivery expenses related to our products and services;
our ability to achieve anticipated customer and revenue growth, to successfully introduce new products and services and to implement our growth strategy;
our ability to complete our capital investment plans on time and on budget, including our plan to build a parallel fiber-to-the-home ("FTTH") network, and deploy Altice One, our home communications platform;
our ability to develop mobile voice and data services and our ability to attract customers to these services;
the effects of economic conditions or other factors which may negatively affect our customers’ demand for our current and future products and services;
the effects of industry conditions;
demand for digital and linear advertising products and services;
our substantial indebtedness and debt service obligations;
adverse changes in the credit market;
changes as a result of any tax reforms that may affect our business;
financial community and rating agency perceptions of our business, operations, financial condition and the industries in which we operate;
the restrictions contained in our financing agreements;
our ability to generate sufficient cash flow to meet our debt service obligations;
fluctuations in interest rates which may cause our interest expense to vary from quarter to quarter;
technical failures, equipment defects, physical or electronic break-ins to our services, computer viruses and similar problems;
2


cybersecurity incidents as a result of hacking, phishing, denial of service attacks, dissemination of computer viruses, ransomware and other malicious software, misappropriation of data, and other malicious attempts;
disruptions to our networks, infrastructure and facilities as a result of natural disasters, power outages, accidents, maintenance failures, telecommunications failures, degradation of plant assets, terrorist attacks and similar events;
labor shortages and supply chain disruptions;
the impact from the coronavirus ("COVID-19") pandemic;
our ability to obtain necessary hardware, software, communications equipment and services and other items from our vendors at reasonable costs;
our ability to effectively integrate acquisitions and to maximize expected operating efficiencies from our acquisitions or as a result of the transactions, if any;
significant unanticipated increases in the use of bandwidth-intensive Internet-based services;
the outcome of litigation, government investigations and other proceedings; and
other risks and uncertainties inherent in our cable and other broadband communications businesses and our other businesses, including those listed under the caption "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on February 16, 2022 (the "Annual Report").
These factors are not necessarily all of the important factors that could cause our actual results to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors could cause our actual results to differ materially from those expressed in any of our forward-looking statements.
Given these uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements are made only as of the date of this Quarterly Report. Except to the extent required by law, we do not undertake, and specifically decline any obligation, to update any forward-looking statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data.
You should read this Quarterly Report with the understanding that our actual future results, levels of activity, performance and events and circumstances may be materially different from what we expect. We qualify all forward-looking statements by these cautionary statements.
Certain numerical figures included in this Quarterly Report have been subject to rounding adjustments. Accordingly, such numerical figures shown as totals in various tables may not be arithmetic aggregations of the figures that precede them.
3


Item 1.     Financial Statements
ALTICE USA, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands)
March 31, 2022
(Unaudited)
December 31, 2021
ASSETS
Current Assets:
Cash and cash equivalents$195,648 $195,711 
Restricted cash264 264 
Accounts receivable, trade (less allowance for doubtful accounts of $27,945 and $27,931)
383,103 406,952 
Prepaid expenses and other current assets ($3,830 and $3,776 due from affiliates)
203,963 186,707 
Total current assets782,978 789,634 
Property, plant and equipment, net of accumulated depreciation of $7,362,691 and $7,142,852
6,513,910 6,340,467 
Right-of-use operating lease assets229,792 222,124 
Investment securities pledged as collateral2,011,164 2,161,937 
Other assets 129,013 76,653 
Amortizable intangibles, net of accumulated amortization of $5,198,304 and $5,051,149
2,055,028 2,202,001 
Indefinite-lived cable television franchises13,216,355 13,216,355 
Goodwill8,205,863 8,205,863 
Total assets$33,144,103 $33,215,034 
LIABILITIES AND STOCKHOLDERS' DEFICIENCY
Current Liabilities:
Accounts payable$999,501 $1,023,045 
Interest payable213,641 244,934 
Accrued employee related costs110,777 124,941 
Deferred revenue110,882 94,943 
Debt969,413 917,313 
Other current liabilities ($22,872 and $31,810 due to affiliates)
373,166 329,943 
Total current liabilities2,777,380 2,735,119 
Other liabilities155,243 159,082 
Deferred tax liability5,032,641 5,048,129 
Liabilities under derivative contracts90,952 276,933 
Right-of-use operating lease liability243,035 237,226 
Long-term debt, net of current maturities25,471,418 25,629,447 
Total liabilities33,770,669 34,085,936 
Commitments and contingencies (Note 14)
Stockholders' Deficiency:
Preferred stock, $0.01 par value, 100,000,000 shares authorized, no shares issued and outstanding
  
Class A common stock: $0.01 par value, 4,000,000,000 shares authorized, 270,344,035 shares issued and 270,323,826 shares outstanding as of March 31, 2022 and 270,341,685 shares issued and 270,320,798 shares outstanding as of December 31, 2021
2,703 2,703 
Class B common stock: $0.01 par value, 1,000,000,000 shares authorized, 490,086,674 issued, 184,330,992 shares outstanding as of March 31, 2022 and 184,333,342 shares outstanding as of December 31, 2021
1,843 1,843 
Class C common stock: $0.01 par value, 4,000,000,000 shares authorized, no shares issued and outstanding
  
Paid-in capital58,527 18,005 
Accumulated deficit(652,285)(848,836)
(589,212)(826,285)
Treasury stock, at cost (20,209 and 20,887 Class A common shares at March 31, 2022 and December 31, 2021, respectively)
  
Accumulated other comprehensive income8,170 6,497 
Total Altice USA stockholders' deficiency(581,042)(819,788)
Noncontrolling interests(45,524)(51,114)
Total stockholders' deficiency(626,566)(870,902)
Total liabilities and stockholders' deficiency$33,144,103 $33,215,034 
See accompanying notes to consolidated financial statements.
4



ALTICE USA, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)
Three Months Ended
March 31,
20222021
Revenue (including revenue from affiliates of $638 and $3,406 respectively) (See Note 13)
$2,421,897 $2,478,821 
Operating expenses:
Programming and other direct costs (including charges from affiliates of $4,618 and $2,228, respectively) (See Note 13)
828,793 851,864 
Other operating expenses (including charges from affiliates of $3,095 and $3,179, respectively) (See Note 13)
641,906 580,433 
Restructuring and other expense3,378 3,209 
Depreciation and amortization (including impairments)435,349 434,857 
 1,909,426 1,870,363 
Operating income512,471 608,458 
Other income (expense):
Interest expense, net(303,362)(316,312)
Gain (loss) on investments(150,773)73,453 
Gain (loss) on derivative contracts, net101,074 (53,565)
Gain on interest rate swap contracts, net123,147 75,653 
Other income, net2,430 2,859 
(227,484)(217,912)
Income before income taxes284,987 390,546 
Income tax expense(82,846)(112,007)
Net income202,141 278,539 
Net income attributable to noncontrolling interests(5,590)(4,403)
Net income attributable to Altice USA, Inc. stockholders$196,551 $274,136 
Income per share:
Basic income per share$0.43 $0.58 
Basic weighted average common shares (in thousands)453,229 469,233 
 
Diluted income per share$0.43 $0.58 
Diluted weighted average common shares (in thousands)453,229  475,448 
Cash dividends declared per common share$  $ 

See accompanying notes to consolidated financial statements.
5



ALTICE USA, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands)
(Unaudited)
Three Months Ended
March 31,
20222021
Net income$202,141 $278,539 
Other comprehensive income (loss):
Defined benefit pension plans2,504 8,648 
Applicable income taxes(661)(2,292)
Defined benefit pension plans, net of income taxes1,843 6,356 
Foreign currency translation adjustment(170)619 
Applicable income taxes  
Foreign currency translation adjustment, net(170)619 
Other comprehensive income1,673 6,975 
Comprehensive income203,814 285,514 
Comprehensive income attributable to noncontrolling interests(5,590)(4,403)
Comprehensive income attributable to Altice USA, Inc. stockholders$198,224  $281,111 

See accompanying notes to consolidated financial statements.



















6


ALTICE USA, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIENCY
(In thousands)
(Unaudited)

Class A
Common
Stock

Class B
Common
Stock
Paid-in
Capital
Accumulated DeficitTreasury StockAccumulated
Other
Comprehensive
Income
Total
Stockholders'
Deficiency
Non-controlling
Interests
Total
Deficiency
Balance at January 1, 2022$2,703 $1,843 $18,005 $(848,836)$ $6,497 $(819,788) $(51,114)$(870,902)
Net income attributable to stockholders— — — 196,551 — — 196,551 — 196,551 
Net income attributable to noncontrolling interests— — — — — — — 5,590 5,590 
Pension liability adjustments, net of income taxes— — — — — 1,843 1,843 — 1,843 
Foreign currency translation adjustment, net of income taxes— — — — — (170)(170)— (170)
Share-based compensation expense (equity classified)— — 40,512  — — 40,512 — 40,512 
Conversion of Class B to Class A shares  — — — — — — — 
Issuance of common shares pursuant to employee long term incentive plan — 10   — 10 — 10 
Balance at March 31, 2022$2,703 $1,843 $58,527 $(652,285)$ $8,170 $(581,042)$(45,524)$(626,566)


Balance at January 1, 2021$2,972 $1,859 $ $(985,641)$(163,866)$3,646 $(1,141,030) $(62,109)$(1,203,139)
Net income attributable to stockholders— — — 274,136 — — 274,136 — 274,136 
Net income attributable to noncontrolling interests— — — — — — — 4,403 4,403 
Pension liability adjustments, net of income taxes— — — — — 6,356 6,356 — 6,356 
Foreign currency translation adjustment, net of income taxes— — — — — 619 619 — 619 
Share-based compensation expense (equity classified)— — — 27,964 — — 27,964 — 27,964 
Redeemable equity vested— — — 20,131 — — 20,131 — 20,131 
Change in redeemable equity— — — 2,528 — — 2,528 — 2,528 
Class A shares acquired through share repurchase program and retired(152)— — (522,521)— — (522,673)— (522,673)
Conversion of Class B to Class A shares1 (1)— — — — — — — 
Issuance of common shares pursuant to employee long term incentive plan1 — — 2,037 6 — 2,044 — 2,044 
Other— — — (4,244)— — (4,244)4,302 58 
Balance at March 31, 2021$2,822 $1,858 $ $(1,185,610)$(163,860)$10,621 $(1,334,169)$(53,404)$(1,387,573)

See accompanying notes to consolidated financial statements.

7


ALTICE USA, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Three Months Ended March 31,
 20222021
Cash flows from operating activities:
Net income$202,141 $278,539 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (including impairments)435,349 434,857 
Loss (gain) on investments150,773 (73,453)
Loss (gain) on derivative contracts, net(101,074)53,565 
Amortization of deferred financing costs and discounts (premiums) on indebtedness20,342 23,039 
Share-based compensation expense 40,532 28,281 
Deferred income taxes(16,149)29,165 
Decrease in right-of-use assets10,955 10,816 
Provision for doubtful accounts14,737 11,133 
Other(287)1,074
Change in assets and liabilities, net of effects of acquisitions and dispositions:
Accounts receivable, trade9,112 55,293 
Prepaid expenses and other assets(19,462)(26,321)
Amounts due from and due to affiliates(8,992)4,627 
Accounts payable and accrued liabilities(13,477)(29,696)
Deferred revenue14,613 38,501 
Liabilities related to interest rate swap contracts(138,894)(89,798)
Net cash provided by operating activities600,219 749,622 
Cash flows from investing activities: 
Capital expenditures(392,371)(212,791)
Other, net8882,143 
Net cash used in investing activities(391,483)(210,648)
Cash flows from financing activities:
Proceeds from long-term debt150,000150,000
Repayment of long-term debt(329,688)(225,863)
Proceeds from collateralized indebtedness and related derivative contracts, net 185,105 
Repayment of collateralized indebtedness and related derivative contracts, net (185,105)
Principal payments on finance lease obligations(28,941)(18,330)
Purchase of shares of Altice USA Class A common stock, pursuant to a share repurchase program (503,645)
Other 393 
Net cash used in financing activities(208,629)(597,445)
Net increase (decrease) in cash and cash equivalents107 (58,471)
Effect of exchange rate changes on cash and cash equivalents(170)620 
Net decrease in cash and cash equivalents(63)(57,851)
Cash, cash equivalents and restricted cash at beginning of year195,975 278,686 
Cash, cash equivalents and restricted cash at end of period$195,912 $220,835 

See accompanying notes to consolidated financial statements.
8


CSC HOLDINGS, LLC AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands)
March 31, 2022
(Unaudited)
December 31, 2021
ASSETS
Current Assets:
Cash and cash equivalents$193,850 $193,154 
Restricted cash264264
Accounts receivable, trade (less allowance for doubtful accounts of $27,945 and $27,931)
383,103 406,952 
Prepaid expenses and other current assets ($3,830 and $3,776 due from affiliates)
203,205 186,707 
Total current assets780,422 787,077 
Property, plant and equipment, net of accumulated depreciation of $7,362,691 and $7,142,852
6,513,910 6,340,467 
Right-of-use operating lease assets229,792 222,124 
Investment securities pledged as collateral2,011,164 2,161,937 
Other assets
129,013 76,653 
Amortizable intangibles, net of accumulated amortization of $5,198,304 and $5,051,149
2,055,028 2,202,001 
Indefinite-lived cable television franchises13,216,355 13,216,355 
Goodwill8,205,863 8,205,863 
Total assets
$33,141,547 $33,212,477 
LIABILITIES AND MEMBER'S DEFICIENCY
Current Liabilities:
Accounts payable$999,501 $1,023,045 
Interest payable213,641 244,934 
Accrued employee related costs110,777 124,941 
Deferred revenue110,882 94,943 
Debt969,413 917,313 
Other current liabilities ($22,872 and $31,810 due to affiliates)
373,166 329,944 
Total current liabilities2,777,380 2,735,120 
Other liabilities155,243 159,082 
Deferred tax liability5,051,955 5,067,442 
Liabilities under derivative contracts90,952 276,933 
Right-of-use operating lease liability243,035 237,226 
Long-term debt, net of current maturities25,471,418 25,629,447 
Total liabilities33,789,983 34,105,250 
Commitments and contingencies (Note 14)
Member's deficiency (100 membership units issued and outstanding)
(611,082)(848,156)
Accumulated other comprehensive income8,170 6,497 
Total member's deficiency(602,912)(841,659)
Noncontrolling interest(45,524)(51,114)
Total deficiency(648,436)(892,773)
Total liabilities and member's deficiency$33,141,547 $33,212,477 

See accompanying notes to consolidated financial statements.

9



CSC HOLDINGS LLC AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands)
(Unaudited)
Three Months Ended
March 31,
20222021
Revenue (including revenue from affiliates of $638 and $3,406 respectively) (See Note 13)$2,421,897 $2,478,821 
Operating expenses:
Programming and other direct costs (including charges from affiliates of $4,618 and $2,228, respectively) (See Note 13)
828,793 851,864 
Other operating expenses (including charges from affiliates of $3,095 and $3,179, respectively) (See Note 13)
641,906 580,433 
Restructuring and other expense
3,378 3,209 
Depreciation and amortization (including impairments)
435,349 434,857 
 1,909,426 1,870,363 
Operating income512,471 608,458 
Other income (expense):
Interest expense, net(303,362)(316,312)
Gain (loss) on investments(150,773)73,453 
Gain (loss) on derivative contracts, net101,074 (53,565)
Gain on interest rate swap contracts, net123,147 75,653 
Other income, net2,430 2,859 
(227,484)(217,912)
Income before income taxes284,987 390,546 
Income tax expense(82,846)(112,007)
Net income202,141 278,539 
Net income attributable to noncontrolling interests(5,590)(4,403)
Net income attributable to CSC Holdings, LLC sole member$196,551 $274,136 


See accompanying notes to consolidated financial statements.

10



CSC HOLDINGS, LLC AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands)
(Unaudited)
Three Months Ended
March 31,
20222021
Net income$202,141 $278,539 
Other comprehensive income (loss):
Defined benefit pension plans2,504 8,648 
Applicable income taxes(661)(2,292)
Defined benefit pension plans, net of income taxes1,843 6,356 
Foreign currency translation adjustment(170)619 
Applicable income taxes  
Foreign currency translation adjustment, net(170)619 
Other comprehensive income1,673 6,975 
Comprehensive income203,814 285,514 
Comprehensive income attributable to noncontrolling interests(5,590)(4,403)
Comprehensive income attributable to CSC Holdings, LLC's sole member$198,224 $281,111 

See accompanying notes to consolidated financial statements.


11


CSC HOLDINGS, LLC AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN TOTAL MEMBER'S DEFICIENCY
(In thousands)
(Unaudited)

Member's DeficiencyAccumulated Other Comprehensive Income Total Member's DeficiencyNoncontrolling InterestsTotal Deficiency
Balance at January 1, 2022$(848,156)$6,497 $(841,659)$(51,114)$(892,773)
Net income attributable to CSC Holdings' sole member196,551 — 196,551 — 196,551 
Net income attributable to noncontrolling interests— — — 5,590 5,590 
Pension liability adjustments, net of income taxes— 1,843 1,843 — 1,843 
Foreign currency translation adjustment, net of income taxes— (170)(170)— (170)
Share-based compensation expense (equity classified)40,512 — 40,512 — 40,512 
Other11 — 11  11 
Balance at March 31, 2022$(611,082)$8,170 $(602,912)$(45,524)$(648,436)


Balance at January 1, 2021$(1,172,505)$3,646 $(1,168,859)$(62,109)$(1,230,968)
Net income attributable to CSC Holdings' sole member274,136 — 274,136 — 274,136 
Net income attributable to noncontrolling interests— — — 4,403 4,403 
Pension liability adjustments, net of income taxes— 6,356 6,356 — 6,356 
Foreign currency translation adjustment, net of income taxes— 619 619 — 619 
Share-based compensation expense (equity classified)27,964 — 27,964 — 27,964 
Redeemable equity vested20,131 — 20,131 — 20,131 
Change in redeemable equity2,528 — 2,528 — 2,528 
Cash distributions to parent(501,000)— (501,000)— (501,000)
Non-cash distributions to parent(748)— (748)— (748)
Other(4,056)— (4,056)4,302 246 
Balance at March 31, 2021$(1,353,550)$10,621 $(1,342,929)$(53,404)$(1,396,333)




See accompanying notes to consolidated financial statements.
12


CSC HOLDINGS LLC AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Three Months Ended
March 31,
 20222021
Cash flows from operating activities:
Net income$202,141 $278,539 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (including impairments)435,349 434,857 
Loss (gain) on investments150,773 (73,453)
Loss (gain) on derivative contracts, net(101,074)53,565 
Amortization of deferred financing costs and discounts (premiums) on indebtedness20,342 23,039 
Share-based compensation expense 40,532 28,281 
Deferred income taxes(16,149)29,165 
Decrease in right-of-use assets10,955 10,816 
Provision for doubtful accounts14,737 11,133 
Other(287)1,074 
Change in assets and liabilities, net of effects of acquisitions and dispositions:
Accounts receivable, trade9,112 55,293 
Prepaid expenses and other assets(18,703)(26,321)
Amounts due from and due to affiliates(8,992)3,882 
Accounts payable and accrued liabilities(13,477)(29,611)
Deferred revenue14,613 38,501 
Liabilities related to interest rate swap contracts(138,894)(89,798)
Net cash provided by operating activities600,978 748,962 
Cash flows from investing activities: 
Capital expenditures(392,371)(212,791)
Other, net888 2,143 
Net cash used in investing activities(391,483)(210,648)
Cash flows from financing activities:
Proceeds from long-term debt150,000 150,000 
Repayment of long-term debt(329,688)(225,863)
Proceeds from collateralized indebtedness and related derivative contracts, net 185,105 
Repayment of collateralized indebtedness and related derivative contracts, net (185,105)
Distributions to parent (501,000)
Principal payments on finance lease obligations(28,941)(18,330)
Other (1,465)
Net cash used in financing activities(208,629)