Charter 2011 Annual Report Download - page 125

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CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2011, 2010 AND 2009
(dollars in millions, except share or per share data or where indicated)
F- 41
Reorganization items, net consisted of the following items:
Penalty interest, net
Loss on debt at allowed claim amount
Professional fees
Paul Allen management fee settlement – related party
Other
Total Reorganization Items, Net
Successor
Year Ended December 31,
2011
$ —
—
3
—
—
$ 3
2010
$ —
—
6
—
—
$ 6
One Month
Ended
December 31,
2009
$ —
—
3
—
—
$ 3
Predecessor
Eleven
Months Ended
November 30,
2009
$ 351
97
167
11
18
$ 644
Reorganization items, net consist of adjustments to record liabilities at the allowed claim amounts, including the write off of
deferred financing fees, and other expenses directly related to the Company’s bankruptcy proceedings. Post-emergence professional
fees relate to claim settlements, plan implementation and other transition costs related to the Plan.
24. Recently Issued Accounting Standards
In May 2011, the FASB issued Accounting Standards Update ("ASU") 2011-04, Amendments to Achieve Common Fair Value
Measurement and Disclosure Requirements in U.S. GAAP and International Financial Reporting Standards (IFRSs) ("ASU
2011-04"). ASU 2011-04 provides guidance about how fair value should be determined when it is already required or permitted.
Most of the changes clarify existing guidance or change words to align U.S. GAAP with IFRS. This standard is effective for fiscal
years, and interim periods within those years, beginning after December 15, 2011. The Company does not expect the adoption
of ASU 2011-04 to have a material impact on its consolidated financial statements.
In June 2011, the FASB issued ASU 2011-05, Presentation of Comprehensive Income ("ASU 2011-05"). ASU 2011-05 provides
guidance on presenting comprehensive income with the intention of increasing its prominence in financial statements by eliminating
the option to report other comprehensive income and its components in the statement of changes in stockholder's equity. This
standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. The Company
does not expect the adoption of ASU 2011-05 to have a material impact on its consolidated financial statements.