XML 40 R29.htm IDEA: XBRL DOCUMENT v3.24.3
AFFILIATE AND RELATED PARTY TRANSACTIONS
 9 Months Ended
Sep. 30, 2024
Related Party Transactions [Abstract]  
AFFILIATE AND RELATED PARTY TRANSACTIONS AFFILIATE AND RELATED PARTY TRANSACTIONS
Affiliate and Related Party Transactions
Altice USA is controlled by Patrick Drahi through Next Alt who also controls Altice Europe and other entities.
As the transactions discussed below were conducted between entities under common control by Mr. Drahi, amounts charged for certain services may not have represented amounts that might have been received or incurred if the transactions were based upon arm's length negotiations.
The following table summarizes the revenue and expenses related to services provided to or received from affiliates and related parties:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Revenue$74 $637 $386 $1,319 
Operating expenses:
Programming and other direct costs(2,449)(3,615)(8,951)(9,337)
Other operating expenses, net(13,429)(30,064)(34,188)(39,859)
Operating expenses, net(15,878)(33,679)(43,139)(49,196)
Net charges$(15,804)$(33,042)$(42,753)$(47,877)
Capital expenditures$19,201 $41,576 $78,507 $104,468 
Revenue
We recognize revenue primarily from the sale of advertising to a subsidiary of Altice Europe.
Programming and Other Direct Costs
Programming and other direct costs include costs incurred for advertising services provided by a subsidiary of Altice Europe.
Other Operating Expenses, Net
Other operating expenses primarily include charges for services provided by certain subsidiaries of Altice Europe and other related parties, including costs for customer care services.
Capital Expenditures
Capital expenditures primarily include costs for equipment purchased and software development services provided by subsidiaries of Altice Europe.
Aggregate amounts that were due from and due to affiliates and related parties are summarized below:
September 30, 2024December 31, 2023
Due from:
Altice Europe$305 $137 
Other affiliates and related parties270 270 
$575 $407 
Due to:
Altice Europe$25,991 $71,523 
$25,991 $71,523 

Amounts due from affiliates presented in the table above represent amounts due for services provided to the respective related party. Amounts due to affiliates presented in the table above and included in other current liabilities in the accompanying balance sheets relate to the purchase of equipment, customer care services, and advertising services, as well as reimbursement for payments made on our behalf.
CSC Holdings Transactions with Altice USA
During the three and nine months ended September 30, 2024, CSC Holdings made cash equity distribution payments to its parent of $707 and $5,345, respectively. CSC Holdings made non-cash equity distributions to its parent of $64 for the three months ended September 30, 2024 and received non-cash equity contributions from its parent of $5,794 for the nine months ended September 30, 2024. During the three and nine months ended September 30, 2023, CSC Holdings made cash equity distribution payments to its parent of $31 and $197, respectively.
In September 2024, CSC Holdings transferred to the Captive certain workers' compensation, general and automobile liability liabilities with a discounted carrying value of $86,601. Contemporaneously, CSC Holdings made an insurance premium payment of $102,405 to the Captive in respect of such liabilities and borrowed $92,500 from the Captive pursuant to a demand promissory note. Interest on the note payable accrues at 6% and for the three months ended September 30, 2024 amounted to $60. As of September 30, 2024, CSC Holdings had a receivable from the Captive of $998.