Charter 2009 Annual Report Download - page 89

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CCH II, LLC AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2009, 2008, AND 2007
(dollars in millions, except where indicated)
F-41
which were previously classified as minority interest. On the Effective Date, Mr. Allen’ s 5.6% preferred
membership interest was transferred to Charter.
In June 2009, the FASB issued guidance included in ASC 105-10, Generally Accepted Accounting Principles –
Overall (“ASC 105-10”). ASC 105-10 is intended to be the source of GAAP and reporting standards as issued by
the FASB. Its primary purpose is to improve clarity and use of existing standards by grouping authoritative literature
under common topics. ASC 105-10 is effective for financial statements issued for interim and annual periods ending
after September 15, 2009. The Company adopted ASC 105-10 effective September 30, 2009. The Codification
does not change or alter existing GAAP and there was no impact on the Company’ s financial statements.
In August 2009, the FASB issued guidance included in ASC 820-10-65 which states companies determining the fair
value of a liability may use the perspective of an investor that holds the related obligation as an asset. This guidance
included in ASC 820-10-65 addresses practice difficulties caused by the tension between fair-value measurements
based on the price that would be paid to transfer a liability to a new obligor and contractual or legal requirements
that prevent such transfers from taking place. This guidance included in ASC 820-10-65 is effective for interim and
annual periods beginning after August 27, 2009, and applies to all fair-value measurements of liabilities required by
GAAP. No new fair-value measurements are required by this guidance. The Company adopted this guidance
included in ASC 820-10-65 effective October 1, 2009. The adoption of this guidance included in ASC 820-10-65
did not have a material impact on the Company’ s financial statements.
24. Parent Company Only Financial Statements
As the result of limitations on, and prohibitions of, distributions, substantially all of the net assets of the consolidated
subsidiaries are restricted from distribution to CCH II, the parent company. The following condensed parent-only
financial statements of CCH II account for the investment in its subsidiaries under the equity method of accounting.
The financial statements should be read in conjunction with the consolidated financial statements of the Company
and notes thereto.
CCH II, LLC (Parent Company Only)
Condensed Balance Sheet
Successor Predecessor
December 31,
2009
December 31,
2008
ASSETS
Cash and cash equivalents $ 6 $ 5
Receivable from related party 1 4
Investment in subsidiaries 3,280 --
Loans receivable from subsidiaries 239 227
Other assets -- 13
Total assets $ 3,526 $ 249
LIABILITIES AND MEMBER’S EQUITY (DEFICIT)
Current liabilities $ 20 $ 71
Long-term debt 2,092 2,455
Losses in excess of investment in subsidiaries -- 813
Member’ s equity (deficit) 1,414 (3,090)
Total liabilities and member’ s equity (deficit) $ 3,526 $ 249