Charter 2012 Annual Report Download - page 109

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CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2012, 2011 AND 2010
(dollars in millions, except share or per share data or where indicated)
F- 34
Effective January 1, 2013, the Company's matching contribution will be equal to 50% of the amount of the salary reduction the
participant elects to defer (up to 6% of the participant’s eligible compensation), excluding any catch-up contributions and will be
paid by the Company on a per pay period basis.
20. Recently Issued Accounting Standards
In July 2012, the FASB issued ASU 2012-02, Intangibles - Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible
Assets for Impairment ("ASU 2012-02"). ASU 2012-02 permits an entity to make a qualitative assessment to determine whether
it is more likely than not that an indefinite-lived intangible asset, other than goodwill, is impaired. This standard is effective for
annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted.
The Company adopted ASU 2012-02 with its 2012 annual impairment testing. The adoption of ASU 2012-02 did not have a
material impact on its consolidated financial statements.
21. Unaudited Quarterly Financial Data
The following table presents quarterly data for the periods presented on the consolidated statement of operations:
Year Ended December 31, 2012
First
Quarter Second
Quarter Third
Quarter Fourth
Quarter
Revenues $ 1,827 $ 1,884 $ 1,880 $ 1,913
Income from operations $ 230 $ 269 $ 211 $ 206
Net loss $ (94) $ (83) $ (87) $ (40)
Loss per common share:
Basic and diluted $ (0.95) $ (0.84) $ (0.87) $ (0.41)
Weighted average common shares
outstanding:
Basic and diluted 99,432,960 99,496,755 99,694,672 100,003,344
Year Ended December 31, 2011
First
Quarter Second
Quarter Third
Quarter Fourth
Quarter
Revenues $ 1,770 $ 1,791 $ 1,809 $ 1,834
Income from operations $ 269 $ 270 $ 237 $ 265
Net loss $ (110) $ (107) $ (85) $ (67)
Loss per common share:
Basic and diluted $ (0.97) $ (0.98) $ (0.79) $ (0.63)
Weighted average common shares
outstanding:
Basic and diluted 113,224,303 109,265,876 108,420,169 105,503,936