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SEC Filings

10-Q
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 10-Q on 12/22/1999
Entire Document
 
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11.  PARENT COMPANY ONLY FINANCIAL STATEMENTS:

               CHARTER COMMUNICATIONS, INC. (PARENT COMPANY ONLY)
                                  BALANCE SHEET
                             (DOLLARS IN THOUSANDS)


<TABLE>
<CAPTION>
                                                                               SEPTEMBER 30,  DECEMBER 31, 
                                                                                   1999          1998
                                                                                   ----          ----
<S>                                                                            <C>            <C>    
ASSET                                                                                        
INVESTMENT IN CHARTER HOLDCO                                                       $ 802        $ 830
                                                                                   =====        =====
LIABILITIES AND STOCKHOLDERS' EQUITY                                                          
STOCKHOLDERS' EQUITY:                                                                        
    Class B common  stock;  $.001 par value;  750 million  shares  authorized;               
         50,000 shares issued and outstanding                                         --           --
        Additional paid-in capital                                                   905          832
                                                                                             
        Retained deficit                                                            (103)          (2)
                                                                                   -----        -----
                                                                                   $ 802        $ 830
                                                                                   =====        =====
</TABLE>



               CHARTER COMMUNICATIONS, INC. (PARENT COMPANY ONLY)
                             STATEMENT OF OPERATIONS
                             (DOLLARS IN THOUSANDS)


<TABLE>
<CAPTION>
                                                                                THREE MONTHS     NINE MONTHS
                                                                                   ENDED            ENDED
                                                                                SEPTEMBER 30,   SEPTEMBER 30,
                                                                                   1999             1999
                                                                                   ----             ----

<S>                                                                             <C>             <C>     
EQUITY IN LOSSES OF CHARTER HOLDCO                                                 $(35)            $(97)   
                                                                                   ----             ----    
    Net loss                                                                       $(35)            $(97)   
                                                                                   ====             ====    
</TABLE>


The investment in Charter Holdco is accounted for on the equity method. No
statement of cash flows has been presented, as Charter (parent company only) had
no cash flow activity during the periods presented.

12.  SUBSEQUENT EVENTS:

In October 1999, the Company acquired certain cable systems from InterMedia
Capital Partners IV, L.P., InterMedia Partners and affiliates (collectively
InterMedia) in a transaction for an aggregate purchase price of $873 million in
cash plus adjustments and exchanged company-operated cable systems serving
approximately 142,000 customers. At the closing, Charter Holdings retained a
cable system serving approximately 30,000 customers for which Charter Holdings
was unable to obtain the necessary regulatory approvals. If the necessary
regulatory approvals cannot be obtained for the transfer of this system by March
28, 2000, InterMedia could require the Company to pay it $88.2 million in lieu
of transferring the retained cable system. If InterMedia has not required the
Company to make such payment by October 1, 2000 and the Company is still unable
to transfer to InterMedia satisfactory replacement systems by that date because
of a failure to obtain the necessary regulatory approvals, the Company could
elect to pay InterMedia $88.2 million. In addition, if the Company transfers
cash or property other than the retained system to InterMedia, in certain
circumstances, the Company must indemnify InterMedia 50% of all taxes and
related costs incurred or arising out of any claim that InterMedia suffered tax

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