Charter 2006 Annual Report Download - page 117
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CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 2006 FORM 10-K
Notes to Consolidated Financial Statements (continued)
Charter Communications, Inc. (Parent Company Only)
CONDENSED BALANCE SHEET
December 31,
2006 2005
Assets
Cash and cash equivalents $1$—
Receivable from related party 24 9
Notes receivable from Charter Holdco 867 886
Total assets $ 892 $ 895
Liabilities and Shareholders’ Deficit
Current liabilities $27$20
Convertible notes 408 863
Notes payable to related party 445 —
Deferred income taxes 315 113
Other long term liabilities —1
Preferred stock — redeemable 44
Losses in excess of investment 5,912 4,814
Shareholders’ deficit (6,219) (4,920)
Total liabilities and shareholders’ deficit $ 892 $ 895
CONDENSED STATEMENT OF OPERATIONS
Year Ended December 31,
2006 2005 2004
Revenues
Interest income $59$76 $ 52
Management fees 30 35 15
Total revenues 89 111 67
Expenses
Equity in losses of Charter Holdco (1,168) (865) (4,488)
General and administrative expenses (30) (35) (14)
Interest expense (59) (73) (49)
Total expenses (1,257) (973) (4,551)
Net loss before income taxes (1,168) (862) (4,484)
Income tax (expense) benefit (202) (105) 143
Net loss (1,370) (967) (4,341)
Dividend on preferred equity —(3) (4)
Net loss after preferred dividends $(1,370) $(970) $(4,345)
Shareholder’s deficit and Equity in losses of Charter Holdco include the gain on the Charter convertible notes exchange to
reflect the substance of the transaction (See Note 9). Notes payable to related party reflect the full accreted value of the convertible
notes held by CCHC subsequent to the exchange.
F-36