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SEC Filings

10-Q
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 10-Q on 08/09/2016
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June 30, 2016 and 2015, respectively, and $304 million and $152 million for the six months ended June 30, 2016 and 2015, respectively.

 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2016
 
2015
 
2016
 
2015
 
Actual
 
 
 
 
 
 
 
 
Consolidated net income (loss)
$
3,114

 
$
(122
)
 
$
2,926

 
$
(203
)
Plus: Interest expense, net
593

 
229

 
1,047

 
518

Income tax (benefit) expense
(3,179
)
 
35

 
(3,151
)
 
70

Depreciation and amortization
1,436

 
528

 
1,975

 
1,042

Stock compensation expense
63

 
19

 
87

 
38

Loss on extinguishment of debt
110

 
128

 
110

 
128

(Gain) loss on financial instruments, net
50

 
(1
)
 
55

 
5

Other, net
33

 
32

 
54

 
50

 
 
 
 
 
 
 
 
Adjusted EBITDA
$
2,220

 
$
848

 
$
3,103

 
$
1,648

 
 
 
 
 
 
 
 
Net cash flows from operating activities
$
1,590

 
$
531

 
$
2,014

 
$
1,059

Less: Purchases of property, plant and equipment
(1,260
)
 
(432
)
 
(1,689
)
 
(783
)
Change in accrued expenses related to capital expenditures
194

 
59

 
138

 
(17
)
 
 
 
 
 
 
 
 
Free cash flow
$
524

 
$
158

 
$
463

 
$
259


 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2016
 
2015
 
2016
 
2015
 
Pro Forma
 
 
 
 
 
 
 
 
Consolidated net income
$
369

 
$
164

 
$
697

 
$
260

Plus: Interest expense, net
723

 
745

 
1,431

 
1,546

Income tax (benefit) expense
181

 
70

 
337

 
99

Depreciation and amortization
2,276

 
2,209

 
4,441

 
4,370

Stock compensation expense
72

 
61

 
138

 
122

Loss on extinguishment of debt
110

 
128

 
110

 
128

(Gain) loss on financial instruments, net
50

 
(1
)
 
55

 
5

Other, net
(239
)
 
(126
)
 
(234
)
 
(119
)
 
 
 
 
 
 
 
 
Adjusted EBITDA
$
3,542

 
$
3,250

 
$
6,975

 
$
6,411


Liquidity and Capital Resources

Introduction

This section contains a discussion of our liquidity and capital resources, including a discussion of our cash position, sources and uses of cash, access to credit facilities and other financing sources, historical financing activities, cash needs, capital expenditures and outstanding debt.

Overview of Our Contractual Obligations and Liquidity

We have significant amounts of debt. The principal amount of our debt as of June 30, 2016 was $60.3 billion, consisting of $9.0 billion of credit facility debt, $37.9 billion of investment grade senior secured notes and $13.4 billion of high-yield senior unsecured notes. Our business requires significant cash to fund principal and interest payments on our debt.  As of June 30, 2016, $98 million


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