Charter 2010 Annual Report Download - page 112

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CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2010, 2009, AND 2008
(dollars in millions, except share or per share data or where indicated)
In August and September 2010, the Company prepaid $122 million principal amount of term B-2 loans under the Charter Operating credit
facilities resulting in a loss on extinguishment of debt of approximately $3 million for the year ended December 31, 2010 (Successor).
On April 28, 2010, CCO Holdings and CCO Holdings Capital Corp. closed on transactions in which they issued the 2018 Notes and 2020
Notes. e net proceeds were used to finance the tender offers and redemptions of CCO Holdings’ 2013 Notes and Charter Operating’s 2014
Notes. e transactions resulted in a loss on extinguishment of debt of approximately $34 million for the year ended December 31, 2010
(Successor).
On March 31, 2010, Charter Operating entered into an amended and restated credit agreement. e refinancing resulted in a loss on
extinguishment of debt of approximately $1 million for the year ended December 31, 2010 (Successor).
In October 2008, Charter Holdco completed a tender offer, in which a total of approximately $102 million principal amount of various
Charter Holdings notes due 2009 and 2010 were exchanged for approximately $99 million of cash. Charter Holdco held the Charter
Holdings notes. e transactions resulted in a gain on extinguishment of debt of approximately $2 million for the year ended December 31,
2008 (Predecessor).
In July 2008, CCH II completed a tender offer, in which $338 million of CCH II’s 10.25% senior notes due 2010 were accepted for
$364 million of CCH II’s 10.25% Senior Notes due 2013, which were issued as part of the same series of notes as CCH II’s $250 million
aggregate principal amount of 10.25% Senior Notes due 2013, which were issued in September 2006. e transactions resulted in a loss on
extinguishment of debt of approximately $4 million for the year ended December 31, 2008 (Predecessor).
In the second quarter of 2008, Charter Holdco repurchased, in private transactions from a small number of institutional holders, a total of
approximately $35 million principal amount of various Charter Holdings notes due 2009 and 2010 for approximately $35 million of cash.
Charter Holdco held the Charter Holdings notes. e transactions resulted in a gain on extinguishment of debt of approximately $1 million
for the year ended December 31, 2008 (Predecessor).
In the second quarter of 2008, Charter Holdco repurchased, in private transactions, from a small number of institutional holders, a total
of approximately $46 million principal amount of Charter’s 5.875% Convertible Senior Notes due 2009, for approximately $42 million
of cash. e purchased 5.875% Convertible Senior Notes were cancelled resulting in approximately $3 million principal amount of such
notes remaining outstanding. e transactions resulted in a gain on extinguishment of debt of approximately $5 million for the year ended
December 31, 2008 (Predecessor).
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Other income (expense), net consists of the following for years presented:
Successor Predecessor
Year Ended
December
31, 2010
One Month
Ended December
31, 2009
Eleven Months
Ended November
30, 2009
Year Ended
December
31, 2008
Gain (loss) on investment $ -- $ -- $ 1 $ (1)
Change in value of preferred stock 2 (3) -- --
Other, net -- -- 1 (5)
$2$(3) $ 2 $ (6)