Charter 2013 Annual Report Download - page 94

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CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2013, 2012 AND 2011
(dollars in millions, except share or per share data or where indicated)
F- 12
The tables below present the calculation of the purchase price and the allocation of the purchase price to the assets and liabilities
acquired.
Purchase Price:
Purchase price $ 1,625
Bresnan debt assumed (including accrued interest) (962)
Working capital adjustment 13
Cash purchase price, net of cash acquired $ 676
Purchase Price Allocation:
Property, plant and equipment $ 515
Franchises 722
Customer relationships 249
Goodwill 224
Other noncurrent assets 4
Current assets 16
Current liabilities (69)
Long-term debt (including accrued interest) (985)
Cash purchase price, net of cash acquired $ 676
Concurrent with the closing of the acquisition, Charter Operating repaid $711 million principal amount outstanding under the
Bresnan credit facility and purchased $250 million aggregate principal amount of the 8.00% senior notes due 2018 issued by
Bresnan (the “2018 Notes”) for $274 million, including approximately $23 million of tender premium. The 2018 Notes were
initially recorded on the balance sheet at fair value, which approximated the principal amount plus the tender premium, with the
offset to goodwill.
Charter's consolidated statement of operations for the year ended December 31, 2013 included $270 million of revenue and $17
million of net loss, including $16 million of acquisition related costs described above, from the acquisition of Bresnan.
The following unaudited pro forma financial information of Charter is based on the historical consolidated financial statements
of Charter and the historical consolidated financial statements of Bresnan and is intended to provide information about how the
acquisition of Bresnan and related financing may have affected Charter's historical consolidated financial statements if they had
closed as of January 1, 2012. The pro forma financial information below is based on available information and assumptions that
the Company believes are reasonable. The pro forma financial information is for illustrative and informational purposes only and
is not intended to represent or be indicative of what Charter's financial condition or results of operations would have been had the
transactions described above occurred on the date indicated. The pro forma financial information also should not be considered
representative of Charter's future financial condition or results of operations.
Year Ended December 31,
2013 2012
Revenues $ 8,419 $ 8,017
Net loss $ (194) $ (392)
Loss per common share, basic and diluted $ (1.90) $ (3.93)