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SEC Filings

S-4/A
AVALON CABLE OF MICHIGAN INC/ filed this Form S-4/A on 07/22/1999
Entire Document
 
<PAGE>
 
            AVALON CABLE OF MICHIGAN HOLDINGS, INC. AND SUBSIDIARIES
 
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
                  (dollars in thousands except per share data)
                               December 31, 1998
December 31, 1998, the Company incurred $41 of transaction costs related to the
acquisition of Taconic. This merger is expected to close in the second quarter
of 1999.
 
4. Property, Plant and Equipment
 
   Property, plant and equipment consists of the following:
 

<TABLE>
      <S>                                                              <C>
      Cable plant and equipment....................................... $106,602
      Vehicles........................................................    2,572
      Buildings and improvements......................................    1,026
      Office furniture and equipment..................................    2,234
      Construction in process.........................................      768
                                                                       --------
      Total property, plant and equipment.............................  113,202
      Less--accumulated depreciation..................................   (1,781)
                                                                       --------
      Property, plant and equipment, net.............................. $111,421
                                                                       ========
</TABLE>

 
   Depreciation expense was $1,781 for the year ended December 31, 1998.
 
5. Intangible Assets
 
   Intangible assets consist of the following:
 

<TABLE>
      <S>                                                              <C>
      Cable Franchise................................................. $374,773
      Goodwill........................................................   82,928
      Deferred Financing Costs........................................   10,658
      Non-compete agreement...........................................      100
                                                                       --------
      Total...........................................................  468,459
      Less--accumulated amortization..................................   (6,342)
                                                                       --------
      Intangible assets, net.......................................... $462,117
                                                                       ========
</TABLE>

 
   Amortization expense for the year ended December 31, 1998 was $6,342.
 
6. Account payable and accrued expenses
 
   Accounts payable and accrued expenses consist of the following:
 

<TABLE>
      <S>                                                               <C>
      Accounts payable................................................. $ 5,321
      Accrued corporate expenses.......................................     404
      Accrued cable programming costs..................................   2,388
      Accrued taxes....................................................   1,383
      Other............................................................   2,150
                                                                        -------
                                                                        $11,646
                                                                        =======
</TABLE>

 
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