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SEC Filings

S-1/A
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form S-1/A on 11/01/1999
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<TABLE>
<CAPTION>
                                            UNAUDITED SUMMARY PRO FORMA STATEMENT OF OPERATIONS
                                                        YEAR ENDED DECEMBER 31, 1998
                                          --------------------------------------------------------
                                             CHARTER
                                          COMMUNICATIONS
                                             HOLDING                       RECENT
                                             COMPANY         MARCUS     ACQUISITIONS    SUBTOTAL
                                          --------------   ----------   ------------   -----------
                                               (DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA)
<S>                                       <C>              <C>          <C>            <C>
Revenues................................    $  601,953     $  457,929    $  608,953    $ 1,668,835
                                            ----------     ----------    ----------    -----------
Operating expenses:
 Operating, general and
   administrative.......................       304,555        236,595       307,447        848,597
 Depreciation and amortization..........       370,406        258,348       335,799        964,553
 Stock option compensation expense......           845             --            --            845
 Corporate expense charges(a)...........        16,493         17,042        10,991         44,526
 Management fees........................            --             --        14,668         14,668
                                            ----------     ----------    ----------    -----------
   Total operating expenses.............       692,299        511,985       668,905      1,873,189
                                            ----------     ----------    ----------    -----------
Loss from operations....................       (90,346)       (54,056)      (59,952)      (204,354)
Interest expense........................      (204,770)      (140,651)     (271,450)      (616,871)
Other income (expense)..................           518             --        (5,825)        (5,307)
                                            ----------     ----------    ----------    -----------
Loss before minority interest...........      (294,598)      (194,707)     (337,227)      (826,532)
Minority interest.......................            --             --            --             --
                                            ----------     ----------    ----------    -----------
Loss before extraordinary item..........    $ (294,598)    $ (194,707)   $ (337,227)   $  (826,532)
                                            ==========     ==========    ==========    ===========
Basic loss per share(b).................
Diluted loss per share(b)...............
Weighted average shares outstanding:
 Basic..................................
 Diluted................................
OTHER FINANCIAL DATA:
EBITDA(c)...............................    $  280,578     $  204,292    $  270,022    $   754,892
EBITDA margin(d)........................          46.6%          44.6%         44.3%          45.2%
Adjusted EBITDA(e)......................    $  297,398     $  221,334    $  301,506    $   820,238
Cash flows from operating activities....       141,602        135,466       194,041        471,109
Cash flows used in investing
 activities.............................      (206,607)      (217,729)     (233,161)      (657,497)
Cash flows from financing activities....       210,306        109,924        23,252        343,482
Cash interest expense...................
Capital expenditures....................       213,353        224,723        96,025        534,101
BALANCE SHEET DATA (AT END OF PERIOD):
Total assets............................    $4,335,527     $2,900,129    $4,375,267    $11,610,923
Total debt..............................     2,002,206      1,520,995     4,257,342      7,780,543
Minority interest.......................            --             --            --             --
Members' equity.........................     2,147,379      1,281,912            --      3,429,291
Stockholders' equity....................            --             --            --             --
OPERATING DATA (AT END OF PERIOD, EXCEPT
 FOR AVERAGES):
Homes passed(f).........................     2,149,000      1,743,000     1,922,000      5,814,000
Basic customers(g)......................     1,255,000      1,061,000     1,325,000      3,641,000
Basic penetration(h)....................          58.4%          60.9%         68.9%          62.6%
Premium units(i)........................       845,000        411,000       777,000      2,033,000
Premium penetration(j)..................          67.3%          38.7%         58.6%          55.8%
Average monthly revenue per basic
 customer(k)............................
 
<CAPTION>
                                           UNAUDITED SUMMARY PRO FORMA STATEMENT OF OPERATIONS
                                                       YEAR ENDED DECEMBER 31, 1998
                                          ------------------------------------------------------
 
                                            PENDING      REFINANCING    OFFERING
                                          ACQUISITIONS   ADJUSTMENTS   ADJUSTMENTS      TOTAL
                                          ------------   -----------   -----------   -----------
                                              (DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA)
<S>                                       <C>            <C>           <C>           <C>
Revenues................................  $ 1,022,669     $     --     $       --    $ 2,691,504
                                          -----------     --------     ----------    -----------
Operating expenses:
 Operating, general and
   administrative.......................      511,118           --             --      1,359,715
 Depreciation and amortization..........      743,845           --             --      1,708,398
 Stock option compensation expense......           --           --             --            845
 Corporate expense charges(a)...........       37,090           --             --         81,616
 Management fees........................        6,135           --             --         20,803
                                          -----------     --------     ----------    -----------
   Total operating expenses.............    1,298,188           --             --      3,171,377
                                          -----------     --------     ----------    -----------
Loss from operations....................     (275,519)          --             --       (479,873)
Interest expense........................     (457,586)       7,000             --     (1,067,457)
Other income (expense)..................       (5,637)          --             --        (10,944)
                                          -----------     --------     ----------    -----------
Loss before minority interest...........     (738,742)       7,000             --     (1,558,274)
Minority interest.......................           --           --      1,022,903      1,022,903
                                          -----------     --------     ----------    -----------
Loss before extraordinary item..........  $  (738,742)    $  7,000     $1,022,903    $  (535,371)
                                          ===========     ========     ==========    ===========
Basic loss per share(b).................                                                  $(3.15)
                                                                                           -----
                                                                                           -----
Diluted loss per share(b)...............                                                  $(3.15)
                                                                                           -----
                                                                                           -----
Weighted average shares outstanding:
 Basic..................................                                             170,050,000
 Diluted................................                                             170,050,000
OTHER FINANCIAL DATA:
EBITDA(c)...............................  $   462,689                                $ 1,217,581
EBITDA margin(d)........................         45.2%                                      45.2%
Adjusted EBITDA(e)......................  $   511,551                                $ 1,331,789
Cash flows from operating activities....      254,086                                    725,195
Cash flows used in investing
 activities.............................     (274,405)                                  (931,902)
Cash flows from financing activities....      115,779                                    459,261
Cash interest expense...................                                                 772,124
Capital expenditures....................      219,045                                    753,146
BALANCE SHEET DATA (AT END OF PERIOD):
Total assets............................  $10,091,809     $125,000     $       --    $21,827,732
Total debt..............................    4,954,764      128,604             --     12,863,911
Minority interest.......................           --           --      5,513,507      5,513,507
Members' equity.........................    2,075,000       (3,604)    (5,500,687)            --
Stockholders' equity....................           --           --      2,885,680      2,885,680
OPERATING DATA (AT END OF PERIOD, EXCEPT
 FOR AVERAGES):
Homes passed(f).........................    3,787,000                                  9,601,000
Basic customers(g)......................    2,453,000                                  6,094,000
Basic penetration(h)....................         64.8%                                      63.5%
Premium units(i)........................      862,000                                  2,895,000
Premium penetration(j)..................         35.1%                                      47.5%
Average monthly revenue per basic
 customer(k)............................                                             $     36.81
</TABLE>

 
-------------------------
 
(a) Charter Investment, Inc. provided corporate management and consulting
    services to subsidiaries of Charter Operating during 1998 and 1999 and to
    subsidiaries of Marcus Holdings beginning in October 1998. See "Certain
    Relationships and Related Transactions".
 
(b) Basic loss per share assumes none of the membership units of Charter
    Communications Holding Company are exchanged for Charter Communications,
    Inc. common stock and none of the outstanding options to purchase membership
    units of Charter Communications Holding Company that are automatically
    exchanged for Charter Communications, Inc. common stock are exercised. Basic
    loss per share equals loss applicable to equity holders divided by weighted
    average shares outstanding. If the membership units were exchanged or
    options exercised, the effects would be antidilutive.
 
(c) EBITDA represents earnings (loss) before interest, income taxes,
    depreciation and amortization. EBITDA is presented because it is a widely
    accepted financial indicator of a cable television company's ability to
    service indebtedness. However, EBITDA should not be considered as an
    alternative to income from operations or to cash flows from operating,
    investing or financing activities, as determined in accordance with
    generally accepted accounting principles. EBITDA should also not be
    construed as an indication of a company's operating performance or as a
    measure of liquidity. Management's discretionary use
 
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