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SEC Filings

8-K
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 8-K on 04/07/2016
Entire Document
 
BRIGHT HOUSE NETWORKS, LLC AND SUBSIDARIES
Notes to Consolidated Financial Statements
December 31, 2015, 2014 and 2013


The changes in Level 3 pension plan assets for the years ended December 31, 2015 and 2014, were as follows:

 
 
2015
 
2014
 
 
(In thousands)
 
 
 
 
 
Balance at beginning of year
 
$
21,347

 
30,125

Purchases, issuances, and settlements, net
 
(308
)
 
(110
)
Transfer out due to plan spinoff
 

 
(9,698
)
Actual return on Plan assets still held at December 31, 2015
 
3,920

 
1,030

 
 
 
 
 
Balance at end of year
 
$
24,959

 
21,347


The Company expects to contribute $23.6 million to the Plan in 2016.

Total payments from the Company’s benefit plans were $8.9 million in 2015. The expected future payments from its benefit plans are as follows (in thousands):

2016
$
11,272

2017
13,005

2018
14,660

2019
16,531

2020
19,042

2021-2025
132,050

 
 
 
$
206,560


(12)
Related Party Transactions

During 2015 and 2014, the Company had transactions with Advance Publications, Inc. and its wholly owned subsidiaries (Advance). Advance is a related party to the Company due to its ownership of A/N (note 1). Amounts due from Advance that are included within other current assets in the accompanying consolidated balance sheets at December 31, 2015 and 2014 are summarized below:

 
2015
 
2014
 
(In thousands)
 
 
 
 
Total due from Advance, net
$
12,842

 
24,247


The Company has a revolving credit agreement with Advance with a borrowing capacity of $750.0 million. The revolving credit facility has a term of five years maturing on August 31, 2018, with interest on the outstanding balance equal to LIBOR plus 1.75% in addition to a commitment fee of 0.275% on the unused portion. The Company has subordinated its right to receive interest and repayments of principal to the rights of certain other creditors pursuant to a subordination agreement dated July 28, 2009. The outstanding balance of the revolving line of credit as of December 31, 2015 and 2014 was $0. Total interest income recognized by the Company related to the revolving credit agreement was $1.9 million, $1.9 million and $1.9 million for the years ended

 
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