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S-4
CHARTER COMMUNICATIONS HOLDINGS CAPITAL CORP filed this Form S-4 on 01/25/2000
Entire Document
 
<PAGE>   706
                      BRESNAN COMMUNICATIONS GROUP SYSTEMS
            (A COMBINATION OF CERTAIN ASSETS, AS DEFINED IN NOTE 1)
 
             NOTES TO COMBINED FINANCIAL STATEMENTS -- (CONTINUED)
                        DECEMBER 31, 1996, 1997 AND 1998
                                 (IN THOUSANDS)
 
  (i) Combined Statements of Cash Flows
 
     Except for acquisition transactions described in note 3, transactions
effected through Parents' investment have been considered constructive cash
receipts and payments for purposes of the combined statements of cash flows.
 
  (j) Estimates
 
     The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities at the
date of the financial statements and the reported amounts of revenue and
expenses during the reporting period. Actual results could differ from those
estimates.
 
(3) ACQUISITIONS AND SYSTEM DISPOSITIONS
 
     In January 1997, affiliates of TCI acquired certain cable television assets
located in or around the Saginaw, Michigan area which are included in the TCI
Bresnan Systems. TCI's cost basis in such acquired assets has been allocated
based on their respective fair values. Such allocation has been reflected in the
accompanying combined financial statements as follows:
 

<TABLE>
<S>                                                           <C>
Cash........................................................  $ 1,179
Property and equipment......................................   10,786
Franchise costs.............................................   21,670
                                                              -------
  Parents' investment.......................................  $33,635
                                                              =======
</TABLE>

 
     In addition in 1998, BCCLP acquired two cable systems which were accounted
for under the purchase method. The purchase prices were allocated to the assets
acquired in relation to their fair values as increases in property and equipment
of $7,099 and franchise costs of $21,651.
 
     The results of operations of these cable television systems have been
included in the accompanying combined statements of operations from their dates
of acquisition. Pro forma information on the acquisitions has not been presented
because the effects were not significant.
 
     During 1998, BCCLP also disposed of two cable systems for gross proceeds of
$58,949, which resulted in gain on sale of cable television systems of $27,027.
In connection with one of the dispositions, a third party intermediary received
$47,199 of cash that is designated to be reinvested in certain identified assets
for income tax purposes.
 
(4) DEBT
 
     Debt is summarized as follows:
 

<TABLE>
<CAPTION>
                                                         1997        1998
                                                       --------    --------
<S>                                                    <C>         <C>
Notes payable to banks(a)............................  $190,300    $209,000
Notes payable to partners(b).........................    22,100      22,100
Other debt...........................................     1,770       1,517
                                                       --------    --------
                                                       $214,170    $232,617
                                                       ========    ========
</TABLE>

 
                                      F-477