Charter 2006 Annual Report Download - page 56

CHARTER COMMUNICATIONS, INC. 2006 FORM 10-K
We have a significant level of debt. As of December 31, 2006, the accreted value of our total debt was approximately $19.1 billion, as
summarized below (dollars in millions):
December 31, 2006
Semi-Annual
Principal Accreted Interest Payment
Amount Value(a) Dates Maturity Date(b)
Charter Communications, Inc.:
5.875% convertible senior notes due 2009(c) $ 413 $ 408 5/16 & 11/16 11/16/09
Charter Holdings:
8.250% senior notes due 2007 105 105 4/1 & 10/1 4/1/07
8.625% senior notes due 2009 187 187 4/1 & 10/1 4/1/09
10.000% senior notes due 2009 105 105 4/1 & 10/1 4/1/09
10.750% senior notes due 2009 71 71 4/1 & 10/1 10/1/09
9.625% senior notes due 2009 52 52 5/15 & 11/15 11/15/09
10.250% senior notes due 2010 32 32 1/15 & 7/15 1/15/10
11.750% senior discount notes due 2010 21 21 1/15 & 7/15 1/15/10
11.125% senior notes due 2011 52 52 1/15 & 7/15 1/15/11
13.500% senior discount notes due 2011 62 62 1/15 & 7/15 1/15/11
9.920% senior discount notes due 2011 63 63 4/1 & 10/1 4/1/11
10.000% senior notes due 2011 71 71 5/15 & 11/15 5/15/11
11.750% senior discount notes due 2011 55 55 5/15 & 11/15 5/15/11
12.125% senior discount notes due 2012 91 91 1/15 & 7/15 1/15/12
CIH(a):
11.125% senior notes due 2014 151 151 1/15 & 7/15 1/15/14
13.500% senior discount notes due 2014 581 581 1/15 & 7/15 1/15/14
9.920% senior discount notes due 2014 471 471 4/1 & 10/1 4/1/14
10.000% senior notes due 2014 299 299 5/15 & 11/15 5/15/14
11.750% senior discount notes due 2014 815 815 5/15 & 11/15 5/15/14
12.125% senior discount notes due 2015 217 216 1/15 & 7/15 1/15/15
CCH I(a):
11.00% senior notes due 2015 3,987 4,092 4/1 & 10/1 10/1/15
CCH II(a):
10.250% senior notes due 2010 2,198 2,190 3/15 & 9/15 9/15/10
10.250% senior notes due 2013 250 262 4/1 & 10/1 10/1/13
CCO Holdings:
3/15, 6/15,
Senior floating notes due 2010 550 550 9/15 & 12/15 12/15/10
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/4% senior notes due 2013 800 795 5/15 & 11/15 11/15/13
Charter Operating:
8% senior second-lien notes due 2012 1,100 1,100 4/30 & 10/30 4/30/12
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/8% senior second-lien notes due 2014 770 770 4/30 & 10/30 4/30/14
Credit Facilities 5,395 5,395 varies
$18,964 $19,062(d)
(a) The accreted value presented above generally represents the principal amount of the notes less the original issue discount at the time of sale, plus the accretion to the
balance sheet date except as follows. Certain of the CIH notes, CCH I notes, and CCH II notes issued in exchange for Charter Holdings notes and Charter convertible
notes in 2005 and 2006 are recorded for financial reporting purposes at values different from the current accreted value for legal purposes and notes indenture purposes
(the amount that is currently payable if the debt becomes immediately due). As of December 31, 2006, the accreted value of our debt for legal purposes and notes and
indentures purposes is $18.8 billion.
(b) In general, the obligors have the right to redeem all of the notes set forth in the above table (except with respect to the 5.875% convertible senior notes due 2009, the
8.25% Charter Holdings notes due 2007, the 10.000% Charter Holdings notes due 2009, the 10.75% Charter Holdings notes due 2009, and the 9.625% Charter Holdings
notes due 2009) in whole or in part at their option, beginning at various times prior to their stated maturity dates, subject to certain conditions, upon the payment of the
outstanding principal amount (plus a specified redemption premium) and all accrued and unpaid interest. The 5.875% convertible senior notes are redeemable if the
closing price of our Class A common stock exceeds the conversion price by certain percentages as described below. For additional information see Note 9 to the
accompanying consolidated financial statements contained in ‘‘Item 8. Financial Statements and Supplementary Data.’’
(c) The 5.875% convertible senior notes are convertible at the option of the holders into shares of Class A common stock at a conversion rate, subject to certain adjustments,
of 413.2231 shares per $1,000 principal amount of notes, which is equivalent to a price of $2.42 per share. Certain anti-dilutive provisions cause adjustments to occur
automatically upon the occurrence of specified events. Additionally, the conversion ratio may be adjusted by us under certain circumstances.
(d) Not included within total long-term debt is the $57 million CCHC note, which is included in ‘‘note payable-related party’’ on our accompanying consolidated balance
sheets. See Note 10 to the accompanying consolidated financial statements contained in ‘‘Item 8. Financial Statements and Supplementary Data.’’
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