Charter 2002 Annual Report Download - page 125

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CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2002, 2001 and 2000
(dollars in millions, except where indicated)
and 2000 and due to the expensing of certain costs originally capitalized associated with customer acquisition
and installation and deferral of launch incentives. These adjustments were oÅset by the reversal of
depreciation expense associated with certain assets that were not taken out service in the Company's rebuild
and upgrade plan and the tax beneÑt generated by these adjustments.
For the Three Months Ended June 30, 2002
As previously
reported Adjustments As restated
Revenues ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $ 1,158 $ (21) $ 1,137
Income from operations ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 8 77 85
Loss before minority interest and income taxes ÏÏÏÏÏÏÏÏÏÏÏÏ (431) 77 (354)
Net loss applicable to common stock ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ (203) 43 (160)
Basic and diluted loss per common share ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ (0.69) 0.15 (0.54)
Weighted average common shares outstanding, basic and
diluted ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 294,453,454 Ì 294,453,454
Net loss applicable to common stock decreased as a result of the reversal of depreciation expense
associated with certain assets that were not taken out of service in the Company's rebuild and upgrade plan,
oÅset by the expensing of certain costs originally capitalized associated with customer acquisition and
installation and deferral of launch incentives.
For the Three Months Ended September 30, 2002
As previously
reported Adjustments As restated
Revenues ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $ 1,179 $ (13) $ 1,166
Income (loss) from operations ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ (17) 108 91
Loss before minority interest and income taxes ÏÏÏÏÏÏÏÏÏÏÏÏ (493) 125 (368)
Net loss applicable to common stock ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ (240) 73 (167)
Basic and diluted loss per common share ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ (0.81) 0.25 (0.56)
Weighted average common shares outstanding, basic and
diluted ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 294,454,659 Ì 294,454,659
The nature of the items decreasing net loss applicable to common stock was primarily the same as in the
three months ended June 30, 2002, except for a decline in customer acquisition costs as the Company
eliminated its customer acquisition campaigns through third-party contractors.
F-57