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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Charter Communications Inc New | NASDAQ:CHTR | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-4.01 | -1.17% | 339.36 | 334.25 | 344.22 | 347.21 | 336.55 | 344.56 | 645,191 | 23:56:42 |
Delaware
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43-1857213
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(State or other jurisdiction of incorporation or organization)
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(I.R.S. Employer Identification Number)
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400 Atlantic Street
Stamford, Connecticut 06901
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(203) 905-7801
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(Address of principal executive offices including zip code)
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(Registrant’s telephone number, including area code)
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Page No.
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•
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the ultimate outcome of the proposed transactions between Charter and Comcast including the possibility that such transactions may not occur if closing conditions are not satisfied;
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•
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if any such transaction were to occur, the ultimate outcome and results of integrating operations, the ultimate outcome of Charter’s pricing and packaging and operating strategy applied to the acquired assets and the ultimate ability to realize synergies at the levels currently expected;
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•
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disruption in our business relationships as a result of the proposed transactions;
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•
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the impact of the proposed transaction on our stock price and future operating results, including due to transaction and integration costs, increased interest expenses, business disruption, and diversion of management time and attention;
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•
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the reduction in our current stockholders’ percentage ownership and voting interest as a result of the proposed transaction;
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•
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the increase in indebtedness as a result of the proposed transactions, which will increase interest expenses and may decrease our operating flexibility;
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•
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our ability to sustain and grow revenues and cash flow from operations by offering video, Internet, voice, advertising and other services to residential and commercial customers, to adequately meet the customer experience demands in our markets and to maintain and grow our customer base, particularly in the face of increasingly aggressive competition, the need for innovation and the related capital expenditures and the difficult economic conditions in the United States;
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•
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the impact of competition from other market participants, including but not limited to incumbent telephone companies, direct broadcast satellite operators, wireless broadband and telephone providers, digital subscriber line (“DSL”) providers, and video provided over the Internet;
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•
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general business conditions, economic uncertainty or downturn, high unemployment levels and the level of activity in the housing sector;
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•
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our ability to obtain programming at reasonable prices or to raise prices to offset, in whole or in part, the effects of higher programming costs (including retransmission consents);
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•
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the development and deployment of new products and technologies including in connection with our plan to make our systems all-digital in 2014;
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•
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the effects of governmental regulation on our business or potential business combination transaction;
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•
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the availability and access, in general, of funds to meet our debt obligations prior to or when they become due and to fund our operations and necessary capital expenditures, either through (i) cash on hand, (ii) free cash flow, or (iii) access to the capital or credit markets; and
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•
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our ability to comply with all covenants in our indentures and credit facilities, any violation of which, if not cured in a timely manner, could trigger a default of our other obligations under cross-default provisions.
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March 31,
2014 |
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December 31,
2013 |
||||
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(unaudited)
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|
||||
ASSETS
|
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|
||||
CURRENT ASSETS:
|
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||||
Cash and cash equivalents
|
$
|
4
|
|
|
$
|
21
|
|
Accounts receivable, less allowance for doubtful accounts of
|
|
|
|
||||
$18 and $19, respectively
|
217
|
|
|
234
|
|
||
Prepaid expenses and other current assets
|
83
|
|
|
67
|
|
||
Total current assets
|
304
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|
|
322
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|
||
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||||
INVESTMENT IN CABLE PROPERTIES:
|
|
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|
||||
Property, plant and equipment, net of accumulated
|
|
|
|
||||
depreciation of $4,948 and $4,787, respectively
|
8,079
|
|
|
7,981
|
|
||
Franchises
|
6,009
|
|
|
6,009
|
|
||
Customer relationships, net
|
1,317
|
|
|
1,389
|
|
||
Goodwill
|
1,177
|
|
|
1,177
|
|
||
Total investment in cable properties, net
|
16,582
|
|
|
16,556
|
|
||
|
|
|
|
||||
OTHER NONCURRENT ASSETS
|
411
|
|
|
417
|
|
||
|
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|
||||
Total assets
|
$
|
17,297
|
|
|
$
|
17,295
|
|
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|
||||
LIABILITIES AND SHAREHOLDERS’ EQUITY
|
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|
||||
CURRENT LIABILITIES:
|
|
|
|
||||
Accounts payable and accrued liabilities
|
$
|
1,523
|
|
|
$
|
1,467
|
|
Total current liabilities
|
1,523
|
|
|
1,467
|
|
||
|
|
|
|
||||
LONG-TERM DEBT
|
14,090
|
|
|
14,181
|
|
||
DEFERRED INCOME TAXES
|
1,492
|
|
|
1,431
|
|
||
OTHER LONG-TERM LIABILITIES
|
65
|
|
|
65
|
|
||
|
|
|
|
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SHAREHOLDERS’ EQUITY:
|
|
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|
||||
Class A common stock; $.001 par value; 900 million shares authorized;
|
|
|
|
||||
108,300,060 and 106,144,075 shares issued, respectively
|
—
|
|
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—
|
|
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Class B common stock; $.001 par value; 25 million shares authorized;
|
|
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|
||||
no shares issued and outstanding
|
—
|
|
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—
|
|
||
Preferred stock; $.001 par value; 250 million shares authorized;
|
|
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|
||||
no shares issued and outstanding
|
—
|
|
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—
|
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||
Additional paid-in capital
|
1,778
|
|
|
1,760
|
|
||
Accumulated deficit
|
(1,605
|
)
|
|
(1,568
|
)
|
||
Treasury stock at cost; 77,834 and 0 shares, respectively
|
(11
|
)
|
|
—
|
|
||
Accumulated other comprehensive loss
|
(35
|
)
|
|
(41
|
)
|
||
Total shareholders’ equity
|
127
|
|
|
151
|
|
||
|
|
|
|
||||
Total liabilities and shareholders’ equity
|
$
|
17,297
|
|
|
$
|
17,295
|
|
|
Three Months Ended March 31,
|
||||||
|
2014
|
|
2013
|
||||
|
|
|
|
||||
REVENUES
|
$
|
2,202
|
|
|
$
|
1,917
|
|
|
|
|
|
||||
COSTS AND EXPENSES:
|
|
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|
||||
Operating costs and expenses (excluding depreciation and amortization)
|
1,447
|
|
|
1,258
|
|
||
Depreciation and amortization
|
505
|
|
|
425
|
|
||
Other operating expenses, net
|
7
|
|
|
11
|
|
||
|
|
|
|
||||
|
1,959
|
|
|
1,694
|
|
||
|
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||||
Income from operations
|
243
|
|
|
223
|
|
||
|
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|
||||
OTHER EXPENSES:
|
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|
||||
Interest expense, net
|
(211
|
)
|
|
(210
|
)
|
||
Loss on extinguishment of debt
|
—
|
|
|
(42
|
)
|
||
Loss on derivative instruments, net
|
(2
|
)
|
|
(3
|
)
|
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Other expense, net
|
(3
|
)
|
|
(1
|
)
|
||
|
|
|
|
||||
|
(216
|
)
|
|
(256
|
)
|
||
|
|
|
|
||||
Income (loss) before income taxes
|
27
|
|
|
(33
|
)
|
||
|
|
|
|
||||
Income tax expense
|
(64
|
)
|
|
(9
|
)
|
||
|
|
|
|
||||
Net loss
|
$
|
(37
|
)
|
|
$
|
(42
|
)
|
|
|
|
|
||||
LOSS PER COMMON SHARE, BASIC AND DILUTED
|
$
|
(0.35
|
)
|
|
$
|
(0.42
|
)
|
|
|
|
|
||||
Weighted average common shares outstanding, basic and diluted
|
106,439,198
|
|
|
100,327,418
|
|
|
Three Months Ended March 31,
|
||||||
|
2014
|
|
2013
|
||||
|
|
|
|
||||
Net loss
|
$
|
(37
|
)
|
|
$
|
(42
|
)
|
Net impact of interest rate derivative instruments, net of tax
|
6
|
|
|
11
|
|
||
|
|
|
|
||||
Comprehensive loss
|
$
|
(31
|
)
|
|
$
|
(31
|
)
|
|
|
Three Months Ended March 31,
|
||||||
|
|
2014
|
|
2013
|
||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
|
|
|
|
||||
Net loss
|
|
$
|
(37
|
)
|
|
$
|
(42
|
)
|
Adjustments to reconcile net loss to net cash flows from operating activities:
|
|
|
|
|
||||
Depreciation and amortization
|
|
505
|
|
|
425
|
|
||
Noncash interest expense
|
|
10
|
|
|
13
|
|
||
Loss on extinguishment of debt
|
|
—
|
|
|
42
|
|
||
Loss on derivative instruments, net
|
|
2
|
|
|
3
|
|
||
Deferred income taxes
|
|
62
|
|
|
2
|
|
||
Other, net
|
|
15
|
|
|
12
|
|
||
Changes in operating assets and liabilities, net of effects from acquisitions:
|
|
|
|
|
||||
Accounts receivable
|
|
18
|
|
|
26
|
|
||
Prepaid expenses and other assets
|
|
(17
|
)
|
|
(16
|
)
|
||
Accounts payable, accrued liabilities and other
|
|
19
|
|
|
76
|
|
||
Net cash flows from operating activities
|
|
577
|
|
|
541
|
|
||
|
|
|
|
|
||||
CASH FLOWS FROM INVESTING ACTIVITIES:
|
|
|
|
|
||||
Purchases of property, plant and equipment
|
|
(539
|
)
|
|
(412
|
)
|
||
Change in accrued expenses related to capital expenditures
|
|
36
|
|
|
(11
|
)
|
||
Other, net
|
|
4
|
|
|
(9
|
)
|
||
Net cash flows from investing activities
|
|
(499
|
)
|
|
(432
|
)
|
||
|
|
|
|
|
||||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
|
|
|
|
||||
Borrowings of long-term debt
|
|
293
|
|
|
1,315
|
|
||
Repayments of long-term debt
|
|
(388
|
)
|
|
(1,355
|
)
|
||
Payments for debt issuance costs
|
|
—
|
|
|
(12
|
)
|
||
Purchase of treasury stock
|
|
(11
|
)
|
|
(5
|
)
|
||
Proceeds from exercise of options and warrants
|
|
6
|
|
|
5
|
|
||
Other, net
|
|
5
|
|
|
1
|
|
||
Net cash flows from financing activities
|
|
(95
|
)
|
|
(51
|
)
|
||
|
|
|
|
|
||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
|
|
(17
|
)
|
|
58
|
|
||
CASH AND CASH EQUIVALENTS, beginning of period
|
|
21
|
|
|
7
|
|
||
CASH AND CASH EQUIVALENTS, end of period
|
|
$
|
4
|
|
|
$
|
65
|
|
|
|
|
|
|
||||
CASH PAID FOR INTEREST
|
|
$
|
225
|
|
|
$
|
120
|
|
|
Three Months Ended March 31, 2013
|
||
Revenues
|
$
|
2,048
|
|
Net loss
|
$
|
(68
|
)
|
Loss per common share, basic and diluted
|
$
|
(0.68
|
)
|
|
|
March 31, 2014
|
|
December 31, 2013
|
||||||||||||||||||||
|
|
Gross Carrying Amount
|
|
Accumulated Amortization
|
|
Net Carrying Amount
|
|
Gross Carrying Amount
|
|
Accumulated Amortization
|
|
Net Carrying Amount
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Indefinite-lived intangible assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Franchises
|
|
$
|
6,009
|
|
|
$
|
—
|
|
|
$
|
6,009
|
|
|
$
|
6,009
|
|
|
$
|
—
|
|
|
$
|
6,009
|
|
Goodwill
|
|
1,177
|
|
|
—
|
|
|
1,177
|
|
|
1,177
|
|
|
—
|
|
|
1,177
|
|
||||||
Trademarks
|
|
158
|
|
|
—
|
|
|
158
|
|
|
158
|
|
|
—
|
|
|
158
|
|
||||||
Other intangible assets
|
|
4
|
|
|
—
|
|
|
4
|
|
|
4
|
|
|
—
|
|
|
4
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
$
|
7,348
|
|
|
$
|
—
|
|
|
$
|
7,348
|
|
|
$
|
7,348
|
|
|
$
|
—
|
|
|
$
|
7,348
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Finite-lived intangible assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Customer relationships
|
|
$
|
2,617
|
|
|
$
|
1,300
|
|
|
$
|
1,317
|
|
|
$
|
2,617
|
|
|
$
|
1,228
|
|
|
$
|
1,389
|
|
Other intangible assets
|
|
134
|
|
|
48
|
|
|
86
|
|
|
130
|
|
|
44
|
|
|
86
|
|
||||||
|
|
$
|
2,751
|
|
|
$
|
1,348
|
|
|
$
|
1,403
|
|
|
$
|
2,747
|
|
|
$
|
1,272
|
|
|
$
|
1,475
|
|
Nine months ended December 31, 2014
|
|
$
|
222
|
|
2015
|
|
265
|
|
|
2016
|
|
231
|
|
|
2017
|
|
198
|
|
|
2018
|
|
163
|
|
|
Thereafter
|
|
324
|
|
|
|
|
|
||
|
|
$
|
1,403
|
|
|
|
March 31, 2014
|
|
December 31, 2013
|
||||
|
|
|
|
|
||||
Accounts payable – trade
|
|
$
|
125
|
|
|
$
|
91
|
|
Accrued capital expenditures
|
|
271
|
|
|
235
|
|
||
Deferred revenue
|
|
88
|
|
|
90
|
|
||
Accrued liabilities:
|
|
|
|
|
||||
Interest
|
|
175
|
|
|
195
|
|
||
Programming costs
|
|
414
|
|
|
379
|
|
||
Franchise related fees
|
|
56
|
|
|
62
|
|
||
Compensation
|
|
119
|
|
|
156
|
|
||
Other
|
|
275
|
|
|
259
|
|
||
|
|
|
|
|
||||
|
|
$
|
1,523
|
|
|
$
|
1,467
|
|
|
March 31, 2014
|
|
December 31, 2013
|
||||||||||||
|
Principal Amount
|
|
Accreted Value
|
|
Principal Amount
|
|
Accreted Value
|
||||||||
CCO Holdings, LLC:
|
|
|
|
|
|
|
|
||||||||
7.250% senior notes due October 30, 2017
|
$
|
1,000
|
|
|
$
|
1,000
|
|
|
$
|
1,000
|
|
|
$
|
1,000
|
|
7.000% senior notes due January 15, 2019
|
1,400
|
|
|
1,393
|
|
|
1,400
|
|
|
1,393
|
|
||||
8.125% senior notes due April 30, 2020
|
700
|
|
|
700
|
|
|
700
|
|
|
700
|
|
||||
7.375% senior notes due June 1, 2020
|
750
|
|
|
750
|
|
|
750
|
|
|
750
|
|
||||
5.250% senior notes due March 15, 2021
|
500
|
|
|
500
|
|
|
500
|
|
|
500
|
|
||||
6.500% senior notes due April 30, 2021
|
1,500
|
|
|
1,500
|
|
|
1,500
|
|
|
1,500
|
|
||||
6.625% senior notes due January 31, 2022
|
750
|
|
|
747
|
|
|
750
|
|
|
747
|
|
||||
5.250% senior notes due September 30, 2022
|
1,250
|
|
|
1,239
|
|
|
1,250
|
|
|
1,239
|
|
||||
5.125% senior notes due February 15, 2023
|
1,000
|
|
|
1,000
|
|
|
1,000
|
|
|
1,000
|
|
||||
5.750% senior notes due September 1, 2023
|
500
|
|
|
500
|
|
|
500
|
|
|
500
|
|
||||
5.750% senior notes due January 15, 2024
|
1,000
|
|
|
1,000
|
|
|
1,000
|
|
|
1,000
|
|
||||
Credit facility due September 6, 2014
|
350
|
|
|
345
|
|
|
350
|
|
|
342
|
|
||||
Charter Communications Operating, LLC:
|
|
|
|
|
|
|
|
||||||||
Credit facilities
|
3,453
|
|
|
3,416
|
|
|
3,548
|
|
|
3,510
|
|
||||
Long-Term Debt
|
$
|
14,153
|
|
|
$
|
14,090
|
|
|
$
|
14,248
|
|
|
$
|
14,181
|
|
|
March 31, 2014
|
|
December 31, 2013
|
||||
|
|
|
|
||||
Accrued interest
|
$
|
11
|
|
|
$
|
8
|
|
Other long-term liabilities
|
$
|
15
|
|
|
$
|
22
|
|
Accumulated other comprehensive loss
|
$
|
(35
|
)
|
|
$
|
(41
|
)
|
|
Three Months Ended March 31,
|
||||||
|
2014
|
|
2013
|
||||
|
|
|
|
||||
Loss on derivative instruments, net:
|
|
|
|
||||
Change in fair value of interest rate derivative instruments not designated as cash flow hedges
|
$
|
4
|
|
|
$
|
1
|
|
Loss reclassified from accumulated other comprehensive loss into earnings as a result of cash flow hedge discontinuance
|
(6
|
)
|
|
(4
|
)
|
||
|
$
|
(2
|
)
|
|
$
|
(3
|
)
|
|
|
|
|
||||
Interest expense:
|
|
|
|
||||
Loss reclassified from accumulated other comprehensive loss into interest expense
|
$
|
—
|
|
|
$
|
(10
|
)
|
•
|
Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.
|
•
|
Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.
|
•
|
Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement.
|
|
|
March 31, 2014
|
|
December 31, 2013
|
||||||||||||
|
|
Carrying Value
|
|
Fair Value
|
|
Carrying Value
|
|
Fair Value
|
||||||||
Debt
|
|
|
|
|
|
|
|
|
||||||||
CCO Holdings senior notes
|
|
$
|
10,329
|
|
|
$
|
10,687
|
|
|
$
|
10,329
|
|
|
$
|
10,384
|
|
Credit facilities
|
|
$
|
3,761
|
|
|
$
|
3,772
|
|
|
$
|
3,852
|
|
|
$
|
3,848
|
|
|
Three Months Ended March 31,
|
||||||
|
2014
|
|
2013
|
||||
Programming
|
$
|
606
|
|
|
$
|
512
|
|
Franchise, regulatory and connectivity
|
107
|
|
|
95
|
|
||
Costs to service customers
|
400
|
|
|
373
|
|
||
Marketing
|
133
|
|
|
110
|
|
||
Other
|
201
|
|
|
168
|
|
||
|
|
|
|
||||
|
$
|
1,447
|
|
|
$
|
1,258
|
|
|
Three Months Ended March 31,
|
||||||
|
2014
|
|
2013
|
||||
|
|
|
|
||||
Loss on sale of assets, net
|
$
|
3
|
|
|
$
|
1
|
|
Special charges, net
|
4
|
|
|
10
|
|
||
|
|
|
|
||||
|
$
|
7
|
|
|
$
|
11
|
|
|
Three Months Ended March 31,
|
||||
|
2014
|
|
2013
|
||
|
|
|
|
||
Stock options
|
1,174,800
|
|
|
102,500
|
|
Restricted stock
|
—
|
|
|
—
|
|
Restricted stock units
|
143,700
|
|
|
26,200
|
|
Charter Communications, Inc.
|
|||||||||||||||||||||||
Condensed Consolidating Statement of Operations
|
|||||||||||||||||||||||
For the three months ended March 31, 2014
|
|||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Charter
|
|
Intermediate Holding Companies
|
|
CCO
Holdings
|
|
Charter Operating and Subsidiaries
|
|
Eliminations
|
|
Charter Consolidated
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
REVENUES
|
$
|
5
|
|
|
$
|
60
|
|
|
$
|
—
|
|
|
$
|
2,202
|
|
|
$
|
(65
|
)
|
|
$
|
2,202
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
COSTS AND EXPENSES:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating costs and expenses (excluding depreciation and amortization)
|
5
|
|
|
60
|
|
|
—
|
|
|
1,447
|
|
|
(65
|
)
|
|
1,447
|
|
||||||
Depreciation and amortization
|
—
|
|
|
—
|
|
|
—
|
|
|
505
|
|
|
—
|
|
|
505
|
|
||||||
Other operating expenses, net
|
—
|
|
|
—
|
|
|
—
|
|
|
7
|
|
|
—
|
|
|
7
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
5
|
|
|
60
|
|
|
—
|
|
|
1,959
|
|
|
(65
|
)
|
|
1,959
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Income from operations
|
—
|
|
|
—
|
|
|
—
|
|
|
243
|
|
|
—
|
|
|
243
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
OTHER INCOME (EXPENSES):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Interest expense, net
|
—
|
|
|
2
|
|
|
(171
|
)
|
|
(42
|
)
|
|
—
|
|
|
(211
|
)
|
||||||
Loss on derivative instruments, net
|
—
|
|
|
—
|
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(2
|
)
|
||||||
Other expense, net
|
—
|
|
|
—
|
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
(3
|
)
|
||||||
Equity in income (loss) of subsidiaries
|
24
|
|
|
11
|
|
|
182
|
|
|
—
|
|
|
(217
|
)
|
|
—
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
24
|
|
|
13
|
|
|
11
|
|
|
(47
|
)
|
|
(217
|
)
|
|
(216
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Income (loss) before income taxes
|
24
|
|
|
13
|
|
|
11
|
|
|
196
|
|
|
(217
|
)
|
|
27
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
INCOME TAX EXPENSE
|
(61
|
)
|
|
—
|
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
(64
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Consolidated net income (loss)
|
(37
|
)
|
|
13
|
|
|
11
|
|
|
193
|
|
|
(217
|
)
|
|
(37
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Less: Net (income) loss – noncontrolling interest
|
—
|
|
|
11
|
|
|
—
|
|
|
(11
|
)
|
|
—
|
|
|
—
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net income (loss)
|
$
|
(37
|
)
|
|
$
|
24
|
|
|
$
|
11
|
|
|
$
|
182
|
|
|
$
|
(217
|
)
|
|
$
|
(37
|
)
|
Charter Communications, Inc.
|
|||||||||||||||||||||||
Condensed Consolidating Statement of Operations
|
|||||||||||||||||||||||
For the three months ended March 31, 2013
|
|||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Charter
|
|
Intermediate Holding Companies
|
|
CCO
Holdings
|
|
Charter Operating and Subsidiaries
|
|
Eliminations
|
|
Charter Consolidated
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
REVENUES
|
$
|
5
|
|
|
$
|
46
|
|
|
$
|
—
|
|
|
$
|
1,917
|
|
|
$
|
(51
|
)
|
|
$
|
1,917
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
COSTS AND EXPENSES:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating costs and expenses (excluding depreciation and amortization)
|
5
|
|
|
46
|
|
|
—
|
|
|
1,258
|
|
|
(51
|
)
|
|
1,258
|
|
||||||
Depreciation and amortization
|
—
|
|
|
—
|
|
|
—
|
|
|
425
|
|
|
—
|
|
|
425
|
|
||||||
Other operating expenses, net
|
—
|
|
|
—
|
|
|
—
|
|
|
11
|
|
|
—
|
|
|
11
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
5
|
|
|
46
|
|
|
—
|
|
|
1,694
|
|
|
(51
|
)
|
|
1,694
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Income from operations
|
—
|
|
|
—
|
|
|
—
|
|
|
223
|
|
|
—
|
|
|
223
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
OTHER INCOME (EXPENSES):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Interest expense, net
|
—
|
|
|
2
|
|
|
(164
|
)
|
|
(48
|
)
|
|
—
|
|
|
(210
|
)
|
||||||
Loss on extinguishment of debt
|
—
|
|
|
—
|
|
|
—
|
|
|
(42
|
)
|
|
—
|
|
|
(42
|
)
|
||||||
Loss on derivative instruments, net
|
—
|
|
|
—
|
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
(3
|
)
|
||||||
Other expense, net
|
—
|
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
||||||
Equity in income (loss) of subsidiaries
|
(37
|
)
|
|
(47
|
)
|
|
117
|
|
|
—
|
|
|
(33
|
)
|
|
—
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
(37
|
)
|
|
(45
|
)
|
|
(47
|
)
|
|
(94
|
)
|
|
(33
|
)
|
|
(256
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Income (loss) before income taxes
|
(37
|
)
|
|
(45
|
)
|
|
(47
|
)
|
|
129
|
|
|
(33
|
)
|
|
(33
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
INCOME TAX EXPENSE
|
(8
|
)
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(9
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Consolidated net income (loss)
|
(45
|
)
|
|
(45
|
)
|
|
(47
|
)
|
|
128
|
|
|
(33
|
)
|
|
(42
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Less: Net (income) loss – noncontrolling interest
|
3
|
|
|
8
|
|
|
—
|
|
|
(11
|
)
|
|
—
|
|
|
—
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net income (loss)
|
$
|
(42
|
)
|
|
$
|
(37
|
)
|
|
$
|
(47
|
)
|
|
$
|
117
|
|
|
$
|
(33
|
)
|
|
$
|
(42
|
)
|
Charter Communications, Inc.
|
|||||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss)
|
|||||||||||||||||||||||
For the three months ended March 31, 2014
|
|||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Charter
|
|
Intermediate Holding Companies
|
|
CCO
Holdings
|
|
Charter Operating and Subsidiaries
|
|
Eliminations
|
|
Charter Consolidated
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Consolidated net income (loss)
|
$
|
(37
|
)
|
|
$
|
13
|
|
|
$
|
11
|
|
|
$
|
193
|
|
|
$
|
(217
|
)
|
|
$
|
(37
|
)
|
Net impact of interest rate derivative instruments, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
6
|
|
|
—
|
|
|
6
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Comprehensive income (loss)
|
$
|
(37
|
)
|
|
$
|
13
|
|
|
$
|
11
|
|
|
$
|
199
|
|
|
$
|
(217
|
)
|
|
$
|
(31
|
)
|
Charter Communications, Inc.
|
|||||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss)
|
|||||||||||||||||||||||
For the three months ended March 31, 2013
|
|||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Charter
|
|
Intermediate Holding Companies
|
|
CCO
Holdings
|
|
Charter Operating and Subsidiaries
|
|
Eliminations
|
|
Charter Consolidated
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Consolidated net income (loss)
|
$
|
(45
|
)
|
|
$
|
(45
|
)
|
|
$
|
(47
|
)
|
|
$
|
128
|
|
|
$
|
(33
|
)
|
|
$
|
(42
|
)
|
Net impact of interest rate derivative instruments, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
11
|
|
|
—
|
|
|
11
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Comprehensive income (loss)
|
$
|
(45
|
)
|
|
$
|
(45
|
)
|
|
$
|
(47
|
)
|
|
$
|
139
|
|
|
$
|
(33
|
)
|
|
$
|
(31
|
)
|
|
Approximate as of
|
||||||
|
March 31,
|
||||||
|
2014 (a)
|
|
2013 (a)
|
||||
Residential
|
|
|
|
||||
Video (b)
|
4,195
|
|
|
3,965
|
|
||
Internet (c)
|
4,519
|
|
|
3,884
|
|
||
Voice (d)
|
2,325
|
|
|
1,973
|
|
||
Residential PSUs (e)
|
11,039
|
|
|
9,822
|
|
||
|
|
|
|
||||
Residential Customer Relationships (f)
|
5,673
|
|
|
5,091
|
|
||
Monthly Residential Revenue per Residential Customer (g)
|
$
|
110.29
|
|
|
$
|
107.25
|
|
|
|
|
|
||||
Commercial
|
|
|
|
||||
Video (b)(h)
|
160
|
|
|
159
|
|
||
Internet (c)
|
269
|
|
|
202
|
|
||
Voice (d)
|
152
|
|
|
112
|
|
||
Commercial PSUs (e)
|
581
|
|
|
473
|
|
||
|
|
|
|
||||
Commercial Customer Relationships (f)(h)
|
379
|
|
|
323
|
|
(a)
|
We calculate the aging of customer accounts based on the monthly billing cycle for each account. On that basis, at
March 31, 2014
and
2013
, customers include approximately
11,100
and
12,000
customers, respectively, whose accounts were over 60 days past due in payment, approximately
900
and
2,400
customers, respectively, whose accounts were over 90 days past due in payment, and approximately
800
and
1,300
customers, respectively, whose accounts were over 120 days past due in payment.
|
(b)
|
“Video customers” represent those customers who subscribe to our video cable services. Our methodology for reporting residential video customers generally excludes units under bulk arrangements, unless those units have a digital set-top box, thus a direct billing relationship. As we complete our all-digital transition, bulk units are supplied with digital set-top boxes adding to our bulk digital upgrade customers. First quarter 2014 and 2013 residential video net additions include 16,000 and 5,000, respectively, bulk video units as a result of adding digital set-top boxes to bulk units.
|
(c)
|
“Internet customers” represent those customers who subscribe to our Internet services.
|
(d)
|
“Voice customers” represent those customers who subscribe to our voice services.
|
(e)
|
“Primary Service Units” or “PSUs” represent the total of video, Internet and voice customers.
|
(f)
|
"Customer Relationships" include the number of customers that receive one or more levels of service, encompassing video, Internet and voice services, without regard to which service(s) such customers receive. This statistic is computed in accordance with the guidelines of the National Cable & Telecommunications Association ("NCTA"). Commercial customer relationships include video customers in commercial structures, which are calculated on an EBU basis (see footnote (h)) and non-video commercial customer relationships.
|
(g)
|
"Monthly Residential Revenue per Residential Customer" is calculated as total residential video, Internet and voice quarterly revenue divided by three divided by average residential customer relationships during the respective quarter.
|
(h)
|
Included within commercial video customers are those in commercial structures, which are calculated on an equivalent bulk unit (“EBU”) basis. We calculate EBUs by dividing the bulk price charged to accounts in an area by the published rate charged to non-bulk residential customers in that market for the comparable tier of service. This EBU method of estimating basic video customers is consistent with the methodology used in determining costs paid to programmers and is consistent with the methodology used by other multiple system operators. As we increase our published video rates to residential customers without a corresponding increase in the prices charged to commercial service customers, our EBU count will decline even if there is no real loss in commercial service customers. For example, commercial video customers decreased by 5,000 and 10,000 during the three months ended March 31, 2014 and 2013, respectively, due to published video rate increases and other revisions to customer reporting methodology.
|
|
Three Months Ended March 31,
|
||||||||||||
|
2014
|
|
2013
|
||||||||||
|
|
|
|
|
|
|
|
||||||
Revenues
|
$
|
2,202
|
|
|
100
|
%
|
|
$
|
1,917
|
|
|
100
|
%
|
|
|
|
|
|
|
|
|
||||||
Costs and Expenses:
|
|
|
|
|
|
|
|
||||||
Operating (excluding depreciation and amortization)
|
1,447
|
|
|
66
|
%
|
|
1,258
|
|
|
66
|
%
|
||
Depreciation and amortization
|
505
|
|
|
23
|
%
|
|
425
|
|
|
22
|
%
|
||
Other operating expenses, net
|
7
|
|
|
—
|
%
|
|
11
|
|
|
1
|
%
|
||
|
1,959
|
|
|
89
|
%
|
|
1,694
|
|
|
88
|
%
|
||
Income from operations
|
243
|
|
|
11
|
%
|
|
223
|
|
|
12
|
%
|
||
|
|
|
|
|
|
|
|
||||||
Other Expenses:
|
|
|
|
|
|
|
|
||||||
Interest expense, net
|
(211
|
)
|
|
|
|
(210
|
)
|
|
|
||||
Loss on extinguishment of debt
|
—
|
|
|
|
|
(42
|
)
|
|
|
||||
Loss on derivative instruments, net
|
(2
|
)
|
|
|
|
(3
|
)
|
|
|
||||
Other expense, net
|
(3
|
)
|
|
|
|
(1
|
)
|
|
|
||||
|
(216
|
)
|
|
|
|
(256
|
)
|
|
|
||||
|
|
|
|
|
|
|
|
||||||
Income (loss) before income taxes
|
27
|
|
|
|
|
(33
|
)
|
|
|
||||
|
|
|
|
|
|
|
|
||||||
Income tax expense
|
(64
|
)
|
|
|
|
(9
|
)
|
|
|
||||
|
|
|
|
|
|
|
|
||||||
Net loss
|
$
|
(37
|
)
|
|
|
|
$
|
(42
|
)
|
|
|
||
|
|
|
|
|
|
|
|
||||||
LOSS PER COMMON SHARE, BASIC AND DILUTED:
|
$
|
(0.35
|
)
|
|
|
|
$
|
(0.42
|
)
|
|
|
||
|
|
|
|
|
|
|
|
||||||
Weighted average common shares outstanding, basic and diluted
|
106,439,198
|
|
|
|
|
100,327,418
|
|
|
|
|
Three Months Ended March 31,
|
|
|
|
|
|||||||||||||||
|
2014
|
|
2013
|
|
2014 over 2013
|
|||||||||||||||
|
Revenues
|
|
% of Revenues
|
|
Revenues
|
|
% of Revenues
|
|
Change
|
|
% Change
|
|||||||||
Video
|
$
|
1,090
|
|
|
50
|
%
|
|
$
|
958
|
|
|
50
|
%
|
|
$
|
132
|
|
|
14
|
%
|
Internet
|
616
|
|
|
28
|
%
|
|
501
|
|
|
26
|
%
|
|
115
|
|
|
23
|
%
|
|||
Voice
|
150
|
|
|
7
|
%
|
|
171
|
|
|
9
|
%
|
|
(21
|
)
|
|
(12
|
)%
|
|||
Commercial
|
234
|
|
|
11
|
%
|
|
181
|
|
|
9
|
%
|
|
53
|
|
|
29
|
%
|
|||
Advertising sales
|
68
|
|
|
3
|
%
|
|
60
|
|
|
3
|
%
|
|
8
|
|
|
13
|
%
|
|||
Other
|
44
|
|
|
2
|
%
|
|
46
|
|
|
2
|
%
|
|
(2
|
)
|
|
(4
|
)%
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
$
|
2,202
|
|
|
100
|
%
|
|
$
|
1,917
|
|
|
100
|
%
|
|
$
|
285
|
|
|
15
|
%
|
|
|
Three months ended
March 31, 2014
compared to
three months ended
March 31, 2013
Increase / (Decrease)
|
||
|
|
|
||
Incremental video services, price adjustments and bundle revenue allocation
|
|
$
|
84
|
|
Decrease in basic video customers
|
|
(15
|
)
|
|
Decrease in premium purchases
|
|
(6
|
)
|
|
Bresnan Acquisition
|
|
69
|
|
|
|
|
|
||
|
|
$
|
132
|
|
|
|
Three months ended
March 31, 2014 compared to three months ended March 31, 2013 Increase / (Decrease) |
||
|
|
|
||
Increase in residential Internet customers
|
|
$
|
44
|
|
Service level changes and price adjustments
|
|
34
|
|
|
Bresnan Acquisition
|
|
37
|
|
|
|
|
|
||
|
|
$
|
115
|
|
|
|
Three months ended
March 31, 2014 compared to three months ended March 31, 2013 Increase / (Decrease) |
||
|
|
|
||
Price adjustments and bundle revenue allocation
|
|
$
|
(44
|
)
|
Increase in residential voice customers
|
|
12
|
|
|
Bresnan Acquisition
|
|
11
|
|
|
|
|
|
||
|
|
$
|
(21
|
)
|
|
|
Three months ended
March 31, 2014 compared to three months ended March 31, 2013 Increase / (Decrease) |
||
|
|
|
||
Sales to small-to-medium sized business customers
|
|
$
|
26
|
|
Carrier site customers
|
|
5
|
|
|
Other
|
|
6
|
|
|
Bresnan Acquisition
|
|
16
|
|
|
|
|
|
||
|
|
$
|
53
|
|
|
|
Three months ended
March 31, 2014 compared to three months ended March 31, 2013 Increase / (Decrease) |
||
|
|
|
||
Programming
|
|
$
|
53
|
|
Franchise, regulatory and connectivity
|
|
3
|
|
|
Costs to service customers
|
|
4
|
|
|
Marketing
|
|
16
|
|
|
Other
|
|
21
|
|
|
Bresnan Acquisition
|
|
92
|
|
|
|
|
|
||
|
|
$
|
189
|
|
|
|
Three months ended
March 31, 2014 compared to three months ended March 31, 2013 Increase / (Decrease) |
||
|
|
|
||
Administrative labor
|
|
$
|
9
|
|
Commercial sales expense
|
|
7
|
|
|
Advertising sales expense
|
|
3
|
|
|
Bad debt expense
|
|
2
|
|
|
|
|
|
||
|
|
$
|
21
|
|
|
Three Months Ended March 31,
|
||||||
|
2014
|
|
2013
|
||||
|
|
|
|
||||
Net loss
|
$
|
(37
|
)
|
|
$
|
(42
|
)
|
Plus: Interest expense, net
|
211
|
|
|
210
|
|
||
Income tax expense
|
64
|
|
|
9
|
|
||
Depreciation and amortization
|
505
|
|
|
425
|
|
||
Stock compensation expense
|
12
|
|
|
11
|
|
||
Loss on extinguishment of debt
|
—
|
|
|
42
|
|
||
Loss on derivative instruments, net
|
2
|
|
|
3
|
|
||
Other, net
|
10
|
|
|
12
|
|
||
|
|
|
|
||||
Adjusted EBITDA
|
$
|
767
|
|
|
$
|
670
|
|
|
|
|
|
||||
Net cash flows from operating activities
|
$
|
577
|
|
|
$
|
541
|
|
Less: Purchases of property, plant and equipment
|
(539
|
)
|
|
(412
|
)
|
||
Change in accrued expenses related to capital expenditures
|
36
|
|
|
(11
|
)
|
||
|
|
|
|
||||
Free cash flow
|
$
|
74
|
|
|
$
|
118
|
|
|
Three Months Ended March 31,
|
||||||
|
2014
|
|
2013
|
||||
|
|
|
|
||||
Customer premise equipment (a)
|
$
|
329
|
|
|
$
|
233
|
|
Scalable infrastructure (b)
|
87
|
|
|
54
|
|
||
Line extensions (c)
|
40
|
|
|
46
|
|
||
Upgrade/rebuild (d)
|
33
|
|
|
39
|
|
||
Support capital (e)
|
50
|
|
|
40
|
|
||
|
|
|
|
||||
Total capital expenditures (f)
|
$
|
539
|
|
|
$
|
412
|
|
(a)
|
Customer premise equipment includes costs incurred at the customer residence to secure new customers and revenue generating units. It also includes customer installation costs and customer premise equipment (e.g., set-top boxes and cable modems).
|
(b)
|
Scalable infrastructure includes costs not related to customer premise equipment, to secure growth of new customers and revenue generating units, or provide service enhancements (e.g., headend equipment).
|
(c)
|
Line extensions include network costs associated with entering new service areas (e.g., fiber/coaxial cable, amplifiers, electronic equipment, make-ready and design engineering).
|
(d)
|
Upgrade/rebuild includes costs to modify or replace existing fiber/coaxial cable networks, including betterments.
|
(e)
|
Support capital includes costs associated with the replacement or enhancement of non-network assets due to technological and physical obsolescence (e.g., non-network equipment, land, buildings and vehicles).
|
(f)
|
Total capital expenditures include
$119 million
and
$1 million
related to our all-digital transition and
$59 million
and
$61 million
related to commercial services for the
three
months ended
March 31, 2014
and
2013
, respectively.
|
|
2014
|
|
2015
|
|
2016
|
|
2017
|
|
2018
|
|
Thereafter
|
|
Total
|
|
Fair Value
|
||||||||||||||||
Debt:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Fixed Rate
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,000
|
|
|
$
|
—
|
|
|
$
|
9,350
|
|
|
$
|
10,350
|
|
|
$
|
10,687
|
|
Average Interest Rate
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
7.25
|
%
|
|
—
|
%
|
|
6.28
|
%
|
|
6.37
|
%
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Variable Rate
|
$
|
398
|
|
|
$
|
65
|
|
|
$
|
93
|
|
|
$
|
102
|
|
|
$
|
594
|
|
|
$
|
2,551
|
|
|
$
|
3,803
|
|
|
$
|
3,772
|
|
Average Interest Rate
|
2.74
|
%
|
|
2.84
|
%
|
|
3.84
|
%
|
|
4.77
|
%
|
|
5.32
|
%
|
|
6.24
|
%
|
|
5.58
|
%
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Interest Rate Instruments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Variable to Fixed Rate
|
$
|
300
|
|
|
$
|
300
|
|
|
$
|
250
|
|
|
$
|
850
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,700
|
|
|
$
|
26
|
|
Average Pay Rate
|
4.82
|
%
|
|
4.99
|
%
|
|
3.89
|
%
|
|
3.84
|
%
|
|
—
|
%
|
|
—
|
%
|
|
4.23
|
%
|
|
|
|||||||||
Average Receive Rate
|
2.51
|
%
|
|
2.65
|
%
|
|
4.44
|
%
|
|
5.24
|
%
|
|
—
|
%
|
|
—
|
%
|
|
4.18
|
%
|
|
|
•
|
completion of Comcast’s acquisition of TWC;
|
•
|
receipt of certain regulatory approvals for the Transactions, in most cases without the imposition of a burdensome condition;
|
•
|
approval by our stockholders;
|
•
|
receipt of opinions of counsel as to the tax-free nature of certain of the Transactions;
|
•
|
absence of injunction or legal impediment on any of the Transactions;
|
•
|
approval for the listing on a stock exchange of the shares of SpinCo common stock to be issued in the Transactions;
|
•
|
effectiveness of a registration for New Charter shares to be issued in the Merger and approval for listing on NASDAQ of those shares;
|
•
|
accuracy of the representations and warranties with respect to each of the Transaction
s, subject to certain materiality thresholds;
|
•
|
performance of covenants with respect to each of the Transactions
, subject to certain materiality thresholds
;
|
•
|
with respect to our obligations, absence of a material adverse change with respect to the assets and liabilities transferred to SpinCo and the assets transferred by Comcast to us, taken as a whole, and with respect to Comcast’s obligations, absence of a material adverse change with respect to the assets and liabilities transferred by us to Comcast and absence of a material adverse effect with respect to us, and also with respect to our obligations, absence of the assertion by our financing sources of a material adverse effect with respect to us.
|
•
|
integrating the operations of the acquired assets while carrying on the ongoing operations of the businesses we operated prior to the Transactions;
|
•
|
integrating information, purchasing, provisioning, accounting, finance, sales, billing, payroll, reporting and regulatory compliance systems;
|
•
|
integrating and unifying the product offerings and services available to customers, including customer premise equipment and video user interfaces;
|
•
|
managing a significantly larger company than before consummation of the Transactions;
|
•
|
integrating separate business cultures;
|
•
|
attracting and retaining the necessary personnel associated with the acquired assets; and
|
•
|
creating uniform standards, controls, procedures, policies and information systems and controlling the costs associated with such matters.
|
•
|
We may experience negative reactions from the financial markets, including negative impacts on our stock price;
|
•
|
We may experience negative reactions from our customers, regulators and employees;
|
•
|
We may be required to pay certain costs relating to the Transactions, whether or not the Transactions are completed;
|
•
|
The Agreement places certain restrictions on the conduct of our business with respect to our assets being transferred to Comcast prior to completion of the Transactions. Such restrictions, the waiver of which is subject to the consent of the other party (in certain cases, not to be unreasonably withheld, conditioned or delayed), may prevent us from taking certain specified actions or otherwise pursuing business opportunities during the pendency of the Transactions; and
|
•
|
Matters relating to the Transactions (including integration planning) will require substantial commitments of time and resources by our management, which would otherwise have been devoted to day-to-day operations and other opportunities that may have been beneficial to us as an independent company.
|
(1)
|
Represents shares of Charter common stock withheld for payment of income tax withholding owed by employees upon vesting of restricted shares and restricted stock units.
|
|
|
CHARTER COMMUNICATIONS, INC.,
|
||
|
|
Registrant
|
||
|
|
|
|
|
|
|
By:
|
|
/s/ Kevin D. Howard
|
|
|
|
|
Kevin D. Howard
|
|
|
|
|
Senior Vice President - Finance, Controller and
|
Date: April 30, 2014
|
|
|
|
Chief Accounting Officer
|
Exhibit
|
|
Description
|
|
|
|
12.1*
|
|
Computation of Ratio of Earnings to Fixed Charges.
|
31.1*
|
|
Certificate of Chief Executive Officer pursuant to Rule 13a-14(a)/Rule 15d-14(a) under the under the Securities Exchange Act of 1934.
|
31.2*
|
|
Certificate of Chief Financial Officer pursuant to Rule 13a-14(a)/Rule 15d-14(a) under the Securities Exchange Act of 1934.
|
32.1*
|
|
Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Chief Executive Officer).
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32.2*
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Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Chief Financial Officer).
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101
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The following financial statements from Charter Communications, Inc.'s Quarterly Report on Form 10-Q for the three months ended March 31, 2014, filed with the Securities and Exchange Commission on April 30, 2014, formatted in XBRL (eXtensible Business Reporting Language): (i) the Condensed Consolidated Balance Sheets; (ii) the Condensed Consolidated Statements of Operations; (iii) the Condensed Consolidated Statements of Comprehensive Loss (iv) the Condensed Consolidated Statements of Cash Flows; and (v) the Notes to the Condensed Consolidated Financial Statements.
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*
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Filed herewith.
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