Charter 2002 Annual Report Download - page 100

Download and view the complete annual report

Please find page 100 of the 2002 Charter annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 130

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2002, 2001 and 2000
(dollars in millions, except where indicated)
with Ñnancial covenants, accuracy of representations and warranties, no material adverse change having
occurred, there being no default under other credit facilities and indentures, and receipt of Ñnancial
statements. Although the Company believes that it will be able to satisfy those conditions, there can be no
assurance that the Company will be able to do so or that if the Company fails to do so it will be able to
negotiate waivers of such conditions.
Based upon outstanding indebtedness as of December 31, 2002, the amortization of term loans, scheduled
reductions in available borrowings of the revolving credit facilities, and the maturity dates for all senior and
subordinated notes and debentures, aggregate future principal payments on the total borrowings under all debt
agreements as of December 31, 2002, are as follows:
Year Amount
2003 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $ 236
2004 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 193
2005 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 1,210
2006 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 1,991
2007 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2,647
Thereafter ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 13,415
$19,692
For the amounts of debt scheduled to mature during 2003, it is management's intent to fund the
repayments from borrowings on the Company's revolving credit facility. The accompanying balance sheet
reÖects this intent by presenting all debt balances as long-term while the table above reÖects actual debt
maturities as of the stated date.
11. Minority Interest and Equity Interests of Charter Holdco
The Company is a holding company whose primary asset is a controlling equity interest in Charter
Holdco, the indirect owner of the Company's cable systems. Minority interest on the Company's consolidated
balance sheets represents the ownership percentages of Charter Holdco not owned by the Company, or 53.5%
of total members' equity of Charter Holdco, plus $668 million, $655 million and $641 million of preferred
membership interests in CC VIII, LLC (CC VIII), an indirect subsidiary of Charter Holdco, as of
December 31, 2002, 2001 and 2000, respectively. As more fully described below, this preferred interest arises
from the approximately $629 million of preferred units issued by CC VIII in connection with the Bresnan
acquisition in February, 2000. Members' equity of Charter Holdco was $662 million, $7.0 billion and
$8.4 billion as of December 31, 2002, 2001 and 2000, respectively. Gains and losses arising from the issuance
by Charter Holdco of its membership units are recorded as capital transactions, thereby increasing or
decreasing shareholders' equity and decreasing or increasing minority interest on the accompanying consoli-
dated balance sheets. Minority interest was 53.5%, 53.5% and 59.2% as of December 31, 2002, 2001 and 2000,
respectively.
F-32