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SEC Filings

10-Q
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 10-Q on 11/03/2016
Entire Document
 

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED)
(dollars in millions, except per share amounts and where indicated)


TWC Preliminary Allocation of Purchase Price

Cash and cash equivalents
$
1,058

Current assets
1,309

Property, plant and equipment
21,431

Franchises
53,395

Customer relationships
13,700

Goodwill
28,459

Other noncurrent assets
1,061

Accounts payable and accrued liabilities
(3,752
)
Debt
(24,900
)
Deferred income taxes
(28,071
)
Other long-term liabilities
(3,169
)
Noncontrolling interests
(4
)
 
$
60,517


During the three months ended September 30, 2016, the Company made measurement period adjustments to the fair value of certain assets acquired and liabilities assumed in the TWC Transaction, including a decrease of $145 million to property, plant and equipment; an increase of $25 million to accrued liabilities; a decrease of $81 million to deferred income taxes; and an increase in other long-term liabilities of $2 million resulting in a net increase of $91 million to goodwill.  The measurement period adjustment to property, plant and equipment also resulted in an increase of $12 million in depreciation expense relating to the prior quarter that was recorded in the third quarter of 2016.  The Company expects to record additional measurement period adjustments in future periods.

Bright House Purchase Price

Charter Holdings common units issued to A/N (in millions)
31.0

Charter Class A common stock closing price per share
$
224.91

Fair value of Charter Holdings common units issued to A/N
$
6,971

 
 
Fair value of Charter Holdings convertible preferred units issued to A/N
3,163

Cash paid to A/N
2,022

Total purchase price
$
12,156



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