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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
REVENUES:        
Advertising $ 156,022 $ 166,891 $ 523,080 $ 556,477
Sublicensing revenue and other revenues 2,545 4,193 6,046 15,909
Total operating revenues 158,567 171,084 529,126 572,386
EXPENSES:        
Direct operating expenses (exclusive of programming expenses, shown below; exclusive of depreciation and amortization of $7,066 and $5,542 for the three months and $21,860 and $18,157 for the nine months ended September 30, 2013 and 2014, respectively; and exclusive of stock-based compensation expense (benefit) of $(26) and $(11) for the three months and $1,417 and $(787) for the nine months ended September 30, 2013 and 2014, respectively) (10,131) (10,682) (34,743) (33,582)
Selling, general and administrative (exclusive of depreciation and amortization of $1,084 and $827 for the three months and $3,113 and $2,864 for the nine months ended September 30, 2013 and 2014, respectively; and exclusive of stock-based compensation expense of $545 and $652 for the three months and $1,740 and $1,173 for the nine months ended September 30, 2013 and 2014, respectively) (33,816) (37,808) (114,376) (122,540)
Stock-based compensation expense (641) (519) (386) (3,157)
Programming expenses (63,350) (69,738) (227,581) (252,368)
Depreciation and amortization (6,369) (8,150) (21,021) (24,973)
Total operating expenses (114,307) (126,897) (398,107) (436,620)
OPERATING INCOME 44,260 44,187 131,019 135,766
FOREIGN CURRENCY (LOSS) GAIN 1,159 (49) (3,546) 1,187
INTEREST INCOME 2,356 2,233 8,698 8,203
INTEREST EXPENSE (131) (178) (395) (577)
OTHER NON-OPERATING LOSS, net (179) (271) (771) (374)
EQUITY IN (LOSS) INCOME OF INVESTEE COMPANIES 244 385 (425) 840
Income before income tax 47,709 46,307 134,580 145,045
INCOME TAX (EXPENSE)/ BENEFIT (Note 8) (14,724) 1,785 (41,906) (33,696)
CONSOLIDATED NET INCOME 32,985 48,092 92,674 111,349
LESS: INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST (1,390) (1,437) (3,202) (4,513)
NET INCOME ATTRIBUTABLE TO CTC MEDIA, INC. STOCKHOLDERS $ 31,595 $ 46,655 $ 89,472 $ 106,836
Net income per share attributable to CTC Media, Inc. stockholders-basic (in dollars per share) $ 0.20 $ 0.30 $ 0.57 $ 0.68
Net income per share attributable to CTC Media, Inc. stockholders-diluted (in dollars per share) $ 0.20 $ 0.30 $ 0.57 $ 0.68
Weighted average common shares outstanding-basic (in shares) 155,762,166 155,986,822 155,742,190 157,286,789
Weighted average common shares outstanding-diluted (in shares) 156,125,495 156,099,208 155,970,240 157,339,072
Dividends declared per share (in dollars per share) $ 0.18 $ 0.16 $ 0.53 $ 0.47