Charter 2003 Annual Report Download - page 100

Download and view the complete annual report

Please find page 100 of the 2003 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 153

  • 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
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153

INDEPENDENT AUDITORS' REPORT
To the Board of Directors
Charter Communications, Inc.:
We have audited the accompanying consolidated balance sheets of Charter Communications, Inc. and
subsidiaries (the ""Company'') as of December 31, 2003 and 2002, and the related consolidated statements of
operations, changes in shareholders' equity (deÑcit), and cash Öows for each of the three years in the period
ended December 31, 2003. These consolidated Ñnancial statements are the responsibility of the Company's
management. Our responsibility is to express an opinion on these consolidated Ñnancial statements based on
our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States
of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the Ñnancial statements are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the Ñnancial statements. An audit also includes
assessing the accounting principles used and signiÑcant estimates made by management, as well as evaluating
the overall Ñnancial statement presentation. We believe that our audits provide a reasonable basis for our
opinion.
In our opinion, the consolidated Ñnancial statements referred to above present fairly, in all material
respects, the Ñnancial position of Charter Communications, Inc. and subsidiaries as of December 31, 2003 and
2002, and the results of their operations and their cash Öows for each of the three years in the period ended
December 31, 2003, in conformity with accounting principles generally accepted in the United States of
America.
As discussed in Note 3 to the consolidated Ñnancial statements, eÅective January 1, 2002, the Company
adopted Statement of Financial Accounting Standards No. 142, Goodwill and Other Intangible Assets.
As discussed in Note 19 to the consolidated Ñnancial statements, eÅective January 1, 2003, the Company
adopted Statement of Financial Accounting Standards No. 123, Accounting for Stock-Based Compensation, as
amended by Statement of Financial Accounting Standards No. 148, Accounting for Stock-Based Compensa-
tion Ì Transition and Disclosure Ì an amendment of FASB Statement No. 123.
/s/ KPMG LLP
St. Louis, Missouri
March 1, 2004
F-2