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SEC Filings

S-4/A
CHARTER COMMUNICATIONS HOLDINGS CAPITAL CORP filed this Form S-4/A on 08/27/1999
Entire Document
 
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(a) Renaissance represents its results of operations through April 30, 1999, the
    date of its acquisition by Charter Holdings. American Cable represents its
    results of operations through May 7, 1999, the date of its acquisition by
    Charter Holdings. Rifkin includes the results of operations for the six
    months ended June 30, 1998 of Rifkin Acquisition Partners, L.L.L.P., Rifkin
    Cable Income Partners L.P., Indiana Cable Associates, Ltd. and R/N South
    Florida Cable Management Limited Partnership, all under common ownership, as
    follows (dollars in thousands):
    
 
   

<TABLE>
<CAPTION>
                                         RIFKIN         RIFKIN      INDIANA    SOUTH
                                       ACQUISITION   CABLE INCOME    CABLE    FLORIDA    OTHER     TOTAL
                                       -----------   ------------   -------   -------   -------   --------
<S>                                    <C>           <C>            <C>       <C>       <C>       <C>
Revenues.............................   $ 48,584        $2,708      $4,251    $12,274   $37,775   $105,592
Income (loss) from operations........     (2,602)          166        (668)    (9,214)    1,972    (10,346)
Income (loss) before extraordinary
  item...............................    (13,197)           69      (1,072)   (10,449)   (8,710)   (33,359)
</TABLE>

    
 
   
(b) Represents the historical results of operations for the period from January
    1, 1999 through the date of purchase for acquisitions completed by
    Renaissance and Rifkin, and for the period from January 1, 1999 through June
    30, 1999 for acquisitions completed subsequent to June 30, 1999.
    
 
   
    These acquisitions will be accounted for using the purchase method of
    accounting. A definitive written agreement exists for all acquisitions that
    have not yet closed. Purchase price and closing dates are as follows:
    
 
   

<TABLE>
<CAPTION>
                                                               RENAISSANCE          RIFKIN
                                                               ACQUISITION       ACQUISITIONS
                                                              -------------    -----------------
<S>                                                           <C>              <C>
Purchase price..............................................  $ 2.7 million    $165.0 million
Closing date................................................  February 1999    February 1999
 
Purchase price..............................................                   $53.8 million
Closing date................................................                   July 1999
</TABLE>

    
 
   
(c) Represents the elimination of the operating results primarily related to the
    cable systems to be transferred to InterMedia as part of a swap of cable
    systems and to the sale of several smaller cable systems. A definitive
    written agreement exists for the disposition on these systems. The fair
    value of our systems to be transferred is $420 million. No material gain or
    loss is anticipated on the disposition as these systems were recently
    acquired and recorded at fair value at that time. It is anticipated that
    this transfer will close during the third or fourth quarter of 1999.
    
 
(d) Reflects a reclassification of expenses representing corporate expenses that
    would have occurred at Charter Investment.
 
   
(e) Represents additional amortization of franchises as a result of our recent
    and pending acquisitions. A large portion of the purchase price was
    allocated to franchises ($3.6 billion) that are amortized over 15 years. The
    adjustment to depreciation and amortization expense consists of the
    following (dollars in millions):
    
 
   

<TABLE>
<CAPTION>
                                                                      WEIGHTED AVERAGE       DEPRECIATION/
                                                     FAIR VALUE    USEFUL LIFE (IN YEARS)    AMORTIZATION
                                                     ----------    ----------------------    -------------
<S>                                                  <C>           <C>                       <C>
Franchises.........................................   $3,576.0               15                 $ 114.5
Cable distribution systems.........................      628.6                8                    39.3
Land, buildings and improvements...................       19.6               10                     0.9
Vehicles and equipment.............................       32.4                3                     4.8
                                                                                                -------
     Total depreciation and amortization.................................................         159.5
     Less-historical depreciation and amortization.......................................        (130.3)
                                                                                                -------
          Adjustment.....................................................................       $  29.2
                                                                                                =======
</TABLE>

    
 
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