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S-1/A
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form S-1/A on 11/04/1999
Entire Document
 
<PAGE>   302
                  MARCUS CABLE HOLDINGS, LLC AND SUBSIDIARIES
 
           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
 
(7) ACCRUED LIABILITIES
 
     Accrued liabilities consist of the following at December 31, 1998 and 1997:
 

<TABLE>
<CAPTION>
                                                          1998       1997
                                                         -------    -------
<S>                                                      <C>        <C>
Accrued operating liabilities..........................  $26,334    $27,923
Accrued programming costs..............................    9,539      9,704
Accrued franchise fees.................................    8,907     10,131
Accrued property taxes.................................    4,586      5,125
Accrued interest.......................................    3,752      7,949
Other accrued liabilities..............................   13,867      7,922
                                                         -------    -------
                                                         $66,985    $68,754
                                                         =======    =======
</TABLE>

 
(8) LONG-TERM DEBT
 
     The Company has outstanding the following borrowings on long-term debt
arrangements at December 31, 1998 and 1997:
 

<TABLE>
<CAPTION>
                                                       1998          1997
                                                    ----------    ----------
<S>                                                 <C>           <C>
Senior Credit Facility............................  $  808,000    $  949,750
13 1/2% Senior Subordinated Discount Notes........     383,236       336,304
14 1/4% Senior Discount Notes.....................     241,183       213,372
11 7/8% Senior Debentures.........................          --       100,000
                                                    ----------    ----------
                                                     1,432,419     1,599,426
Less current maturities...........................      77,500        67,499
                                                    ----------    ----------
                                                    $1,354,919    $1,531,927
                                                    ==========    ==========
</TABLE>

 
     The Company, through MCOC, maintains a senior credit facility ("Senior
Credit Facility"), which provides for two term loan facilities, one with a
principal amount of $490,000 that matures on December 31, 2002 ("Tranche A") and
the other with a principal amount of $300,000 million that matures on April 30,
2004 ("Tranche B"). The Senior Credit Facility provides for scheduled
amortization of the two term loan facilities which began in September 1997. The
Senior Credit Facility also provides for a $360,000 revolving credit facility
("Revolving Credit Facility"), with a maturity date of December 31, 2002.
Amounts outstanding under the Senior Credit Facility bear interest at either
the: i) Eurodollar rate, ii) prime rate, or iii) CD base rate or Federal Funds
rate, plus a margin of up to 2.25%, which is subject to certain quarterly
adjustments based on the ratio of MCOC's total debt to annualized operating cash
flow, as defined. The variable interest rates ranged from 6.23% to 7.75% and
5.97% to 8.00% at December 23, 1998, and December 31, 1997, respectively. A
quarterly commitment fee ranging from 0.250% to 0.375% per annum is payable on
the unused commitment under the Senior Credit Facility.
 
     On October 16, 1998, the Company entered into an agreement to amend its
Senior Credit Facility. The amendment provides for, among other items, a
reduction in the permitted leverage and cash flow ratios, a reduction in the
interest rate charge under the Senior Credit Facility and a change in the
restriction related to the use of cash proceeds from asset sales to allow such
proceeds to be used to redeem the 11 7/8% Senior Debentures.
 
     In 1995, the Company issued $299,228 of 14 1/4% Senior Discount Notes due
December 15, 2005 (the "14 1/4% Notes") for net proceeds of $150,003. The
14 1/4% Notes are unsecured and rank pari passu to the 11 7/8% Debentures
(defined below). The 14 1/4% Notes are redeemable at the option of MCHLLC at
amounts decreasing from 107% to 100% of par beginning on June 15, 2000. No
interest is payable until December 15, 2000. Thereafter interest is payable
semi-
 
                                      F-55