Charter 1999 Annual Report Download - page 19
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PRO FORMA FINANCIAL HIGHLIGHTS
The pro forma financial statements below give effect to all of Charter’s acquisitions announced during 1999 as if all of
such acquisitions had occurred on January 1, 1999.
Pro Forma Statement of Operations (Unaudited)
(dollars in millions, except per share data)
YEAR ENDED DECEMBER 31, 1999
REVENUES
Basic $ 2,105.1
Premium 261.9
Pay-per-view 52.2
Digital video 20.6
Advertising sales 133.4
Internet service 17.4
Other 326.7
Total revenues 2,917.3
OPERATING EXPENSES 1,492.5
Adjusted EBITDA 1,424.8
Corporate expense charges 109.8
Management fee expense 15.7
Option compensation expense 80.0
Other 0.2
EBITDA 1,219.1
Interest, net (1,011.9)
Depreciation and amortization (1,678.1)
Income tax expense (4.5)
Loss before minority interest (1,475.4)
MINORITY INTEREST IN LOSS OF SUBSIDIARY 899.1
Net loss $ (576.3)
LOSS PER COMMON SHARE, BASIC AND DILUTED $ (2.59)
Weighted-average common shares outstanding 222,089,746
Pro Forma Balance Sheet (Unaudited)
(dollars in millions)
AS OF DECEMBER 31, 1999
Total assets $22,045.9
Long-term debt 11,025.5
Minority interest 5,242.5
Redeemable securities 1,846.2
Shareholders’ equity 3,068.7
Pro Forma Operating Data (Unaudited)
AS OF DECEMBER 31, 1999
Homes passed 9,852,800
Basic customers 6,138,200
Premium units 3,144,400
Digital video customers 155,400
Internet service customers 65,600
1999 SUMMARY ANNUAL REPORT 17