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|CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 8-K on 04/07/2016|
BRIGHT HOUSE NETWORKS, LLC AND SUBSIDARIES
Notes to Consolidated Financial Statements
December 31, 2015, 2014 and 2013
subscribers are recorded as revenues. The amount of such fees included as a component of revenues was $93.5 million, $90.4 million and $89.1 million in 2015, 2014 and 2013, respectively.
The Company recorded income of $20.4 million in the year ended December 31, 2015, for minimum payments received under its agreement with Verizon, which is included in Gain from disposal of assets, net and other income in the consolidated statements of income for the year ended December 31,2015.
Cash and cash equivalents consist of cash and liquid investments with an original maturity of less than three months.
The Company had investments in marketable debt securities which were accounted for as available‑for‑sale securities and stated at fair value. The Company determined the appropriate classification of the investments at the date of purchase and reevaluated the classification at the balance sheet date. Marketable debt securities with maturities of 12 months or less were classified as short‑term. Marketable debt securities with maturities greater than 12 months were classified as long‑term. Changes in the fair value of available‑for‑sale securities were not material.
The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy, as defined below, gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs.
The carrying value of accounts receivable, accounts payable, and other current liabilities approximates fair value because of the relatively short maturity of these items.
The Company’s marketable securities, which included U.S. Treasury securities, corporate debt securities, U.S. government agency securities, municipal securities, certificates of deposit and commercial paper, were recorded at fair value (see note 4). The Company classified these investments as Level 2 since the fair value estimates were based on market observable inputs for investments with similar terms and maturities.