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SEC Filings

S-1
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form S-1 on 07/28/1999
Entire Document
 
<PAGE>   31
 
                                    DILUTION
 
     The following table illustrates the dilution in pro forma net tangible book
value (total assets less total liabilities) on a per share basis. In calculating
the dilution, we have made the same assumptions described on page 2 above with
respect to our organizational chart. We have also assumed the issuance of
       shares of Class A common stock offered in this prospectus.
 

<TABLE>
<S>                                                             <C>
Initial public offering price per share.....................    $
  Pro forma net tangible book value per share at March 31,
     1999...................................................    $
  Increase in pro forma net tangible book value per share
     attributable to new investors purchasing shares in the
     offering...............................................
                                                                ------
Pro forma net tangible book value per share after the
  offering..................................................
                                                                ------
Pro forma dilution per share to new investors assuming the
  exchange of all membership units of Charter Holdco for
  shares of our Class A common stock........................    $
                                                                ======
</TABLE>

 
     The following table summarizes the relative investment in Charter Holdings
of the existing holders of Charter Holdco membership units and us, giving pro
forma effect to the sale of Charter Holdco membership units to us.
 

<TABLE>
<CAPTION>
                                          SHARES PURCHASED         CONSIDERATION        AVERAGE
                                        --------------------   ---------------------   PRICE PER
                                          NUMBER     PERCENT      PAID       PERCENT     SHARE
                                        ----------   -------   -----------   -------   ---------
<S>                                     <C>          <C>       <C>           <C>       <C>
Existing holders of membership
  units...............................                     %   $                   %    $
Charter Communications, Inc...........
                                        ----------    -----    -----------    -----
          Total.......................                     %   $                   %
                                        ==========    =====    ===========    =====
</TABLE>

 
     The table above and related discussion assumes no exercise of any stock
options outstanding. At June 30, 1999, there were options outstanding to
purchase        membership units at a weighted-average exercise price of 
$     per unit. Membership units received upon exercise of these options will 
be automatically exchanged for shares of Class A common stock on a one-for-one
basis. To the extent that any of these options are exercised, there will be
further dilution to the new investors.
 
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