Charter 2012 Annual Report Download - page 44

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32
Item 6. Selected Financial Data.
The following table presents selected consolidated financial data for the periods indicated (dollars in millions, except share data):
Successor Predecessor
Years Ended December 31,
One Month
Ended
December 31,
Eleven Months
Ended
November 30, Year Ended
December 31,
2012 2011 2010 2009 2009 2008 (a)
Statement of Operations Data:
Revenues $ 7,504 $ 7,204 $ 7,059 $ 572 $ 6,183 $ 6,479
Income (loss) from operations $ 916 $ 1,041 $ 1,024 $ 84 $ (1,063) $ (614)
Interest expense, net $ (907) $ (963) $ (877) $ (68) $ (1,020) $ (1,905)
Income (loss) before income taxes $ (47) $ (70) $ 58 $ 10 $ 9,748 $ (2,550)
Net income (loss) – Charter
shareholders $ (304) $ (369) $ (237) $ 2 $ 11,364 $ (2,451)
Basic earnings (loss) per common
share $ (3.05) $ (3.39) $ (2.09) $ 0.02 $ 30.00 $ (6.56)
Diluted earnings (loss) per
common share $ (3.05) $ (3.39) $ (2.09) $ 0.02 $ 12.61 $ (6.56)
Weighted-average shares
outstanding, basic 99,657,989 108,948,554 113,138,461 112,078,089 378,784,231 373,464,920
Weighted-average shares
outstanding, diluted 99,657,989 108,948,554 113,138,461 114,346,861 902,067,116 373,464,920
Balance Sheet Data (end of
period):
Investment in cable properties $ 14,870 $ 14,843 $ 15,027 $ 15,391 $ 12,448
Total assets $ 15,599 $ 15,601 $ 15,737 $ 16,658 $ 13,882
Total debt (including debt subject
to compromise) $ 12,808 $ 12,856 $ 12,306 $ 13,322 $ 21,666
Charter shareholders’ equity
(deficit) $ 149 $ 409 $ 1,478 $ 1,916 $ (10,506)
Other Financial Data:
Ratio of earnings to fixed
charges (b) N/A N/A 1.07 1.14 8.41 N/A
Deficiency of earnings to cover
fixed charges (b) $ 47 $ 70 N/A N/A N/A $ 2,550
(a) The year ended December 31, 2008 has been restated to reflect the retrospective application of accounting guidance for
convertible debt with cash settlement features.
(b) Earnings include income (loss) before noncontrolling interest and income taxes plus fixed charges. Fixed charges consist of
interest expense and an estimated interest component of rent expense.
Comparability of the above information from year to year is affected by acquisitions and dispositions completed by us. In addition,
upon our emergence from bankruptcy, we adopted fresh start accounting. This resulted in us becoming a new entity on December 1,
2009, with a new capital structure, a new accounting basis in the identifiable assets and liabilities assumed and no retained earnings
or accumulated losses. Accordingly, the consolidated financial statements on or after December 1, 2009 are not comparable to the
consolidated financial statements prior to that date. The financial statements for the periods ended prior to November 30, 2009 do not
include the effect of any changes in our capital structure or changes in the fair value of assets and liabilities as a result of fresh start
accounting.