AMC Networks Inc. (AMCX) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-05-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	8-K	10-K	10-K	10-K
Revenues:
National Networks				2,413.3		2,367.6	2,311.0	2,135.4
Entertainment						1,756.2	1,671.7
Advertising	950.7	875.8	993.8	1,036.1		1,049.4	1,084.0
International and Other	511.3	453.2	527.9	598.3		457.2	460.0	452.6
Other	1,615.6	1,485.9	1,538.6
Total revenues	3,077.6	2,815.0	3,060.3	2,971.9	2,971.9	2,805.7	2,755.7	2,580.9
Revenue growth [+]	9.3%	-8.0%	3.0%	5.9%		1.8%	6.8%	18.6%
National Networks				1.9%		2.4%	8.2%	22.4%
Entertainment						5.1%
Advertising	8.5%	-11.9%	-4.1%	-1.3%		-3.2%
International and Other	12.8%	-14.1%	-11.8%	30.9%		-0.6%	1.6%	4.2%
Customer One			-6.4%	5.9%
Cost of goods sold	1,432.1	1,401.6	1,507.0	1,445.9	1,445.9	1,341.1	1,280.0	1,137.1
Gross profit	1,645.5	1,413.4	1,553.3	1,526.0	1,526.0	1,464.6	1,475.7	1,443.8
Gross margin	53.5%	50.2%	50.8%	51.3%	51.3%	52.2%	53.6%	55.9%
Selling, general and administrative [+]	914.2	722.7	679.4	658.8	657.5	620.8	651.1	667.1
Sales and marketing	891.7	708.8		657.5		613.3
General and administrative	22.5	13.9		1.3		7.5
Other selling, general and administrative	891.7	708.8		657.5		613.3
Other operating expenses	-22.5	-13.9		-1.3	91.3	-7.5	-15.1	-30.5
Adjusted EBITDA	801.7	757.5	938.0	929.5		904.8	878.5	838.2
Adjusted EBITDA margin	26.0%	26.9%	30.7%	31.3%		32.2%	31.9%	32.5%
Stock-based compensation	47.9	52.9	64.1	61.0		53.5	38.9	31.0
EBITDA [+]	753.8	704.5	873.9	868.5		851.3	839.6	807.2
EBITDA growth	7.0%	-19.4%	0.6%	2.0%		1.4%	4.0%	27.9%
EBITDA margin	24.5%	25.0%	28.6%	29.2%	26.2%	30.3%	30.5%	31.3%
Depreciation	54.8	62.4	54.9	48.3		47.5	46.2	41.0
EBITA	699.0	642.1	819.0	820.2	777.2	803.7	793.5	766.2
EBITA margin	22.7%	22.8%	26.8%	27.6%	26.2%	28.6%	28.8%	29.7%
Amortization of intangibles	39.1	42.2	46.2	43.0		47.1	38.6	42.0
EBIT [+]	659.9	599.9	772.8	777.2	777.2	756.6	754.9	724.2
EBIT growth	10.0%	-22.4%	-0.6%	2.7%		0.2%	4.2%	28.8%
EBIT margin	21.4%	21.3%	25.3%	26.2%	26.2%	27.0%	27.4%	28.1%
Non-recurring items [+]	170.0	157.3	147.5	50.3	50.3	34.3	97.3	15.0
Asset impairment	159.6	122.2	106.6	4.5	4.5	28.1	67.8
Interest expense, net [+]	118.8	108.6	133.1	135.8	135.8	119.3	118.6	125.7
Interest expense	129.1	138.6	157.8	155.0	155.0	134.0	123.6	128.1
Interest income	10.2	30.0	24.7	19.2	19.2	14.7	5.1	2.4
Other income (expense), net [+]	3.1	68.3	-6.0	29.2	29.2	37.3	-84.2	-0.7
Gain (loss) on debt retirement	-22.1	-2.9				-3.0	-50.6
Write-off of deferred debt issuance costs	-22.1	-2.9				-3.0	-50.6
Other	25.2	71.2	-6.0	29.2	29.2	40.3	-33.5	-0.7
Pre-tax income	374.2	402.4	486.2	620.3	620.3	640.4	454.8	582.8
Income taxes	94.4	145.4	78.5	156.3	156.3	150.7	164.9	201.1
Tax rate	25.2%	36.1%	16.1%	25.2%	25.2%	23.5%	36.2%	34.5%
Minority interest	29.2	17.0	27.2	17.8		18.3	19.5	14.9
Net income	250.6	240.0	380.5	446.2	464.0	471.3	270.5	366.8
Net margin	8.1%	8.5%	12.4%	15.0%	15.6%	16.8%	9.8%	14.2%

Basic EPS [+]	$5.92	$4.70	$6.77	$7.68	$7.57	$7.26	$3.77	$5.06
Growth	25.8%	-30.5%	-11.9%	5.8%		92.6%	-25.6%	-31.5%
Diluted EPS [+]	$5.77	$4.64	$6.67	$7.57	$7.57	$7.18	$3.74	$5.01
Growth	24.4%	-30.5%	-11.9%	5.4%		92.2%	-25.5%	-31.4%


Shares outstanding (basic) [+]	42.4	51.0	56.2	58.1	61.3	64.9	71.7	72.4
Growth	-17.0%	-9.2%	-3.2%	-10.5%		-9.5%	-0.9%	0.6%
Shares outstanding (diluted) [+]	43.4	51.7	57.0	58.9	61.3	65.6	72.4	73.2
Growth	-16.0%	-9.3%	-3.2%	-10.2%		-9.4%	-1.1%	0.5%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.