Charter 2006 Annual Report Download - page 99

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 2006 FORM 10-K
Notes to Consolidated Financial Statements (continued)
2006 2005 2006 2005
Principal Accreted Principal Accreted Principal Accreted Principal Accreted
Amount Value Amount Value Amount Value Amount Value
Charter Holdings: Renaissance Media Group
8.250% senior notes due LLC:
April 1, 2007 105 105 105 105 10.000% senior discount
8.625% senior notes due notes due April 15, 2008 ——114 115
April 1, 2009 187 187 292 292 Credit Facilities 5,395 5,395 5,731 5,731
10.000% senior notes due $18,964 $ 19,062 $19,336 $19,388
April 1, 2009 105 105 154 154
10.750% senior notes due
October 1, 2009 71 71 131 131 The accreted values presented above generally represent
9.625% senior notes due the principal amount of the notes less the original issue discount
November 15, 2009 52 52 107 107 at the time of sale, plus the accretion to the balance sheet date
10.250% senior notes due except as follows. Certain of the CIH notes, CCH I notes, and
January 15, 2010 32 32 49 49
11.750% senior discount CCH II notes issued in exchange for Charter Holdings notes
notes due January 15, and Charter convertible notes in 2005 and 2006 are recorded for
2010 21 21 43 43 financial reporting purposes at values different from the current
11.125% senior notes due accreted value for legal purposes and notes indenture purposes
January 15, 2011 52 52 217 217
13.500% senior discount (the amount that is currently payable if the debt becomes
notes due January 15, immediately due). As of December 31, 2006, the accreted value
2011 62 62 94 94 of the Company’s debt for legal purposes and notes indenture
9.920% senior discount purposes is $18.8 billion.
notes due April 1, 2011 63 63 198 198
10.000% senior notes due Charter Convertible Notes
May 15, 2011 71 71 137 136
11.750% senior discount The Charter convertible notes rank equally with any of
notes due May 15, 2011 55 55 125 120 Charter’s future unsubordinated and unsecured indebtedness, but
12.125% senior discount are structurally subordinated to all existing and future indebted-
notes due January 15, ness and other liabilities of Charter’s subsidiaries.
2012 91 91 113 100
CIH: The 4.75% Charter convertible notes were convertible at
11.125% senior notes due the option of the holder into shares of Class A common stock
January 15, 2014 151 151 151 151 at a conversion rate of 38.0952 shares per $1,000 principal
13.500% senior discount amount of notes, which is equivalent to a price of $26.25 per
notes due January 15,
2014 581 581 581 578 share, subject to certain adjustments. Specifically, the adjust-
9.920% senior discount ments included anti-dilutive provisions, which automatically
notes due April 1, 2014 471 471 471 471 occur based on the occurrence of specified events to provide
10.000% senior notes due protection rights to holders of the notes. Additionally, Charter
May 15, 2014 299 299 299 299
11.750% senior discount could adjust the conversion ratio under certain circumstances
notes due May 15, 2014 815 815 815 781 when deemed appropriate. These notes were redeemable at
12.125% senior discount Charter’s option at amounts decreasing from 101.9% to 100% of
notes due January 15,
2015 217 216 217 192 the principal amount, plus accrued and unpaid interest begin-
CCH I: ning on June 4, 2004, to the date of redemption.
11.000% senior notes due During the year ended December 31, 2005, the Company
October 1, 2015 3,987 4,092 3,525 3,683 repurchased, in private transactions, from a small number of
CCH II:
10.250% senior notes due institutional holders, a total of $136 million principal amount of
September 15, 2010 2,198 2,190 1,601 1,601 its 4.75% convertible senior notes due 2006, resulting in a gain
10.250% senior notes due on debt extinguishment of approximately $3 million.
October 1, 2013 250 262 — — In June 2006, the Company retired the remaining $20 mil-
CCO Holdings:
Senior floating notes due lion principal amount of Charter’s 4.75% convertible senior
December 15, 2010 550 550 550 550 notes due 2006.
83 /4% senior notes due The 5.875% convertible senior notes are convertible at any
November 15, 2013 800 795 800 794 time at the option of the holder into shares of Class A common
Charter Operating:
8% senior second-lien stock at an initial conversion rate of 413.2231 shares per $1,000
notes due April 30, 2012 1,100 1,100 1,100 1,100 principal amount of notes, which is equivalent to a conversion
83 /8% senior second-lien price of approximately $2.42 per share, subject to certain
notes due April 30, 2014 770 770 733 733 adjustments. Specifically, the adjustments include anti-dilutive
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