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SEC Filings

10-Q
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 10-Q on 10/26/2017
Entire Document
 

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


6.834% senior notes due October 23, 2055
500

 
495

 
500

 
495

Credit facilities
8,768

 
8,681

 
8,916

 
8,814

Time Warner Cable, LLC:
 
 
 
 
 
 
 
5.850% senior notes due May 1, 2017

 

 
2,000

 
2,028

6.750% senior notes due July 1, 2018
2,000

 
2,068

 
2,000

 
2,135

8.750% senior notes due February 14, 2019
1,250

 
1,356

 
1,250

 
1,412

8.250% senior notes due April 1, 2019
2,000

 
2,177

 
2,000

 
2,264

5.000% senior notes due February 1, 2020
1,500

 
1,588

 
1,500

 
1,615

4.125% senior notes due February 15, 2021
700

 
732

 
700

 
739

4.000% senior notes due September 1, 2021
1,000

 
1,048

 
1,000

 
1,056

5.750% sterling senior notes due June 2, 2031 (a)
838

 
905

 
770

 
834

6.550% senior debentures due May 1, 2037
1,500

 
1,687

 
1,500

 
1,691

7.300% senior debentures due July 1, 2038
1,500

 
1,790

 
1,500

 
1,795

6.750% senior debentures due June 15, 2039
1,500

 
1,725

 
1,500

 
1,730

5.875% senior debentures due November 15, 2040
1,200

 
1,258

 
1,200

 
1,259

5.500% senior debentures due September 1, 2041
1,250

 
1,258

 
1,250

 
1,258

5.250% sterling senior notes due July 15, 2042 (b)
871

 
839

 
800

 
771

4.500% senior debentures due September 15, 2042
1,250

 
1,137

 
1,250

 
1,135

Time Warner Cable Enterprises LLC:
 
 
 
 
 
 
 
8.375% senior debentures due March 15, 2023
1,000

 
1,243

 
1,000

 
1,273

8.375% senior debentures due July 15, 2033
1,000

 
1,315

 
1,000

 
1,324

Total debt
66,777

 
68,132

 
60,036

 
61,747

Less current portion:
 
 
 
 
 
 
 
5.850% senior notes due May 1, 2017

 

 
(2,000
)
 
(2,028
)
6.750% senior notes due July 1, 2018
(2,000
)
 
(2,068
)
 

 

Long-term debt
$
64,777

 
$
66,064

 
$
58,036

 
$
59,719


(a) 
Principal amount includes £625 million valued at $838 million and $770 million as of September 30, 2017 and December 31, 2016, respectively, using the exchange rate at the respective dates.
(b) 
Principal amount includes £650 million valued at $871 million and $800 million as of September 30, 2017 and December 31, 2016, respectively, using the exchange rate at the respective dates.

The accreted values presented in the table above represent the principal amount of the debt less the original issue discount at the time of sale, deferred financing costs, and, in regards to the Legacy TWC debt assumed, fair value premium adjustments as a result of applying acquisition accounting plus the accretion of those amounts to the balance sheet date. However, the amount that is currently payable if the debt becomes immediately due is equal to the principal amount of the debt. In regards to the fixed-rate British pound sterling denominated notes (the “Sterling Notes”), the principal amount of the debt and any premium or discount into US dollars is remeasured as of each balance sheet date. See Note 8. The Company has availability under the Charter Operating credit facilities of approximately $2.9 billion as of September 30, 2017.

CCO Holdings

In February 2016, CCO Holdings, LLC ("CCO Holdings") and CCO Holdings Capital Corp. ("CCO Holdings Capital") jointly issued $1.7 billion aggregate principal amount of 5.875% senior notes due 2024 and, in April 2016, they issued $1.5 billion aggregate principal amount of 5.500% senior notes due 2026 at a price of 100.075% of the aggregate principal amount. The net proceeds from both issuances were used to repurchase all of CCO Holdings’ 7.000% senior notes due 2019, 7.375% senior notes due 2020 and 6.500% senior notes due 2021 and to pay related fees and expenses and for general corporate purposes. These debt repurchases resulted in a loss on extinguishment of debt of $110 million for the nine months ended September 30, 2016.



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