Charter 2015 Annual Report Download - page 109

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CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2015, 2014 AND 2013
(dollars in millions, except share or per share data or where indicated)
F- 12
senior secured notes, $3.8 billion CCO Safari III, LLC ("CCO Safari III") senior secured bank loans and $2.5 billion CCOH Safari,
LLC ("CCOH Safari") senior unsecured notes. Charter has remaining commitments of approximately $2.7 billion from banks to
provide incremental senior secured term loan facilities and senior unsecured notes, as well as an incremental $1.7 billion revolving
facility. In addition, the bank commitments provide for a $4.3 billion bridge facility if all TWC stockholders (other than the Liberty
Parties) elect the $115 per share cash option, in the event Charter is unable to issue senior unsecured notes in advance of the closing
of the TWC Transaction.
Acquisition of Bresnan
On July 1, 2013, Charter and Charter Communications Operating, LLC ("Charter Operating") acquired Bresnan Broadband
Holdings, LLC and its subsidiaries (collectively, “Bresnan”) from a wholly owned subsidiary of Cablevision Systems Corporation
("Cablevision"), for $1.625 billion in cash, as well as a working capital adjustment and a reduction for certain funded indebtedness
of Bresnan. Bresnan manages cable operating systems in Montana, Wyoming, Colorado and Utah. Charter funded the purchase
of Bresnan with a $1.5 billion term loan (see Note 8) and borrowings under the Charter Operating credit facilities.
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
(unaudited)
Revenues $ 8,419
Net loss $ (194)
Loss per common share, basic and diluted $ (1.90)
4. Allowance for Doubtful Accounts
Activity in the allowance for doubtful accounts is summarized as follows for the years presented:
Year Ended December 31,
2015 2014 2013
Balance, beginning of period $ 22 $ 19 $ 14
Charged to expense 135 122 101
Uncollected balances written off, net of recoveries (136)(119)(96)
Balance, end of period $ 21 $ 22 $ 19