Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | |
In Billions, except Share data, unless otherwise specified | Dec. 31, 2014 | Jun. 30, 2014 |
Entity Information [Line Items] | ||
Entity Registrant Name | CHARTER COMMUNICATIONS, INC. /MO/ | |
Entity Central Index Key | 1091667 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-K | |
Document Period End Date | 31-Dec-14 | |
Document Fiscal Year Focus | 2014 | |
Document Fiscal Period Focus | FY | |
Trading Symbol | CHTR | |
Entity Current Reporting Status | Yes | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Amendment Flag | FALSE | |
Entity Common Stock, Shares Outstanding | 111,999,687 | |
Entity Public Float | $12.30 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
CURRENT ASSETS: | ||
Cash and cash equivalents | $3 | $21 |
Accounts receivable, less allowance for doubtful accounts of $22 and $19, respectively | 285 | 234 |
Prepaid expenses and other current assets | 83 | 67 |
Total current assets | 371 | 322 |
RESTRICTED CASH AND CASH EQUIVALENTS | 7,111 | 0 |
INVESTMENT IN CABLE PROPERTIES: | ||
Property, plant and equipment, net of accumulated depreciation of $5,484 and $4,787, respectively | 8,373 | 7,981 |
Franchises | 6,006 | 6,009 |
Customer relationships, net | 1,105 | 1,389 |
Goodwill | 1,168 | 1,177 |
Total investment in cable properties, net | 16,652 | 16,556 |
OTHER NONCURRENT ASSETS | 416 | 417 |
Total assets | 24,550 | 17,295 |
CURRENT LIABILITIES: | ||
Accounts payable and accrued liabilities | 1,635 | 1,467 |
Total current liabilities | 1,635 | 1,467 |
LONG-TERM DEBT | 21,023 | 14,181 |
DEFERRED INCOME TAXES | 1,674 | 1,431 |
OTHER LONG-TERM LIABILITIES | 72 | 65 |
SHAREHOLDERS' EQUITY: | ||
Preferred stock; $.001 par value; 250 million shares authorized; no shares issued and outstanding | 0 | 0 |
Additional paid-in capital | 1,930 | 1,760 |
Accumulated deficit | -1,762 | -1,568 |
Accumulated other comprehensive loss | -22 | -41 |
Total shareholders' equity | 146 | 151 |
Total liabilities and shareholders' equity | 24,550 | 17,295 |
Class A Common Stock [Member] | ||
SHAREHOLDERS' EQUITY: | ||
Common stock | 0 | 0 |
Class B Common Stock [Member] | ||
SHAREHOLDERS' EQUITY: | ||
Common stock | $0 | $0 |
CONSOLIDATED_BALANCE_SHEET_PAR
CONSOLIDATED BALANCE SHEET (PARENTHETICALS) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, except Share data, unless otherwise specified | ||
Allowance for doubtful accounts (in dollars) | $22 | $19 |
Accumulated depreciation, property, plant and equipment (in dollars) | $5,484 | $4,787 |
Preferred Stock, par value (in dollars per share) | $0.00 | $0.00 |
Preferred Stock, shares authorized (in shares) | 250,000,000 | 250,000,000 |
Preferred Stock, shares issued (in shares) | 0 | 0 |
Preferred Stock, shares outstanding (in shares) | 0 | 0 |
Class A Common Stock [Member] | ||
Common Stock, par value (in dollars per share) | $0.00 | $0.00 |
Common Stock, shares authorized (in shares) | 900,000,000 | 900,000,000 |
Common Stock, shares issued (in shares) | 111,999,687 | 106,144,075 |
Common Stock, shares outstanding (in shares) | 111,999,687 | 106,144,075 |
Class B Common Stock [Member] | ||
Common Stock, par value (in dollars per share) | $0.00 | $0.00 |
Common Stock, shares authorized (in shares) | 25,000,000 | 25,000,000 |
Common Stock, shares issued (in shares) | 0 | 0 |
Common Stock, shares outstanding (in shares) | 0 | 0 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Statement [Abstract] | |||||||||||
REVENUES | $2,360 | $2,287 | $2,259 | $2,202 | $2,148 | $2,118 | $1,972 | $1,917 | $9,108 | $8,155 | $7,504 |
COSTS AND EXPENSES: | |||||||||||
Operating costs and expenses (excluding depreciation and amortization) | 5,973 | 5,345 | 4,860 | ||||||||
Depreciation and amortization | 2,102 | 1,854 | 1,713 | ||||||||
Other operating expenses, net | 62 | 47 | 16 | ||||||||
Total costs and expenses | 8,137 | 7,246 | 6,589 | ||||||||
Income from operations | 277 | 218 | 236 | 240 | 244 | 209 | 234 | 222 | 971 | 909 | 915 |
OTHER EXPENSES: | |||||||||||
Interest expense, net | -911 | -846 | -907 | ||||||||
Loss on extinguishment of debt | 0 | -123 | -55 | ||||||||
Gain (loss) on derivative instruments, net | -7 | 11 | 0 | ||||||||
Total other expenses | -918 | -958 | -962 | ||||||||
Income (loss) before income taxes | 53 | -49 | -47 | ||||||||
Income tax expense | -236 | -120 | -257 | ||||||||
Net loss | ($48) | ($53) | ($45) | ($37) | $39 | ($70) | ($96) | ($42) | ($183) | ($169) | ($304) |
LOSS PER COMMON SHARE, BASIC AND DILUTED | |||||||||||
LOSS PER COMMON SHARE, BASIC AND DILUTED (in dollars per share) | ($0.44) | ($0.49) | ($0.42) | ($0.35) | ($0.68) | ($0.96) | ($0.42) | ($1.70) | ($1.65) | ($3.05) | |
Weighted average common shares outstanding, basic and diluted (in shares) | 110,242,507 | 108,792,605 | 107,975,937 | 106,439,198 | 102,924,443 | 100,600,678 | 100,327,418 | 108,374,160 | 101,934,630 | 99,657,989 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Comprehensive Income [Abstract] | |||||||||||
Net loss | ($48) | ($53) | ($45) | ($37) | $39 | ($70) | ($96) | ($42) | ($183) | ($169) | ($304) |
Net impact of interest rate derivative instruments, net of tax | 19 | 34 | -10 | ||||||||
Comprehensive loss | ($164) | ($135) | ($314) |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (USD $) | Total | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Treasury Stock [Member] | Accumulated other comprehensive loss [Member] | Class A Common Stock [Member] | Class B Common Stock [Member] |
In Millions, unless otherwise specified | Common Stock [Member] | Common Stock [Member] | |||||
Balance at Dec. 31, 2011 | $409 | $1,556 | ($1,082) | $0 | ($65) | $0 | $0 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net loss | -304 | 0 | -304 | 0 | 0 | 0 | 0 |
Net impact of interest rate derivative instruments, net of tax | -10 | 0 | 0 | 0 | -10 | 0 | 0 |
Stock compensation expense, net | 50 | 50 | 0 | 0 | 0 | 0 | 0 |
Exercise of options | 15 | 15 | 0 | 0 | 0 | 0 | 0 |
Purchase of treasury stock | -11 | 0 | 0 | -11 | 0 | 0 | 0 |
Retirement of treasury stock | 0 | -5 | -6 | 11 | 0 | 0 | 0 |
Balance at Dec. 31, 2012 | 149 | 1,616 | -1,392 | 0 | -75 | 0 | 0 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net loss | -169 | 0 | -169 | 0 | 0 | 0 | 0 |
Net impact of interest rate derivative instruments, net of tax | 34 | 0 | 0 | 0 | 34 | 0 | 0 |
Stock compensation expense, net | 48 | 48 | 0 | 0 | 0 | 0 | 0 |
Exercise of options and warrants | 104 | 104 | 0 | 0 | 0 | 0 | 0 |
Purchase of treasury stock | -15 | 0 | 0 | -15 | 0 | 0 | 0 |
Retirement of treasury stock | 0 | -8 | -7 | 15 | 0 | 0 | 0 |
Balance at Dec. 31, 2013 | 151 | 1,760 | -1,568 | 0 | -41 | 0 | 0 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net loss | -183 | 0 | -183 | 0 | 0 | 0 | 0 |
Net impact of interest rate derivative instruments, net of tax | 19 | 0 | 0 | 0 | 19 | 0 | 0 |
Stock compensation expense, net | 55 | 55 | 0 | 0 | 0 | 0 | 0 |
Exercise of options and warrants | 123 | 123 | 0 | 0 | 0 | 0 | 0 |
Purchase of treasury stock | -19 | 0 | 0 | -19 | 0 | 0 | 0 |
Retirement of treasury stock | 0 | -8 | -11 | 19 | 0 | 0 | 0 |
Balance at Dec. 31, 2014 | $146 | $1,930 | ($1,762) | $0 | ($22) | $0 | $0 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net loss | ($183) | ($169) | ($304) |
Adjustments to reconcile net loss to net cash flows from operating activities: | |||
Depreciation and amortization | 2,102 | 1,854 | 1,713 |
Noncash interest expense | 37 | 43 | 45 |
Loss on extinguishment of debt | 0 | 123 | 55 |
(Gain) loss on derivative instruments, net | 7 | -11 | 0 |
Deferred income taxes | 233 | 112 | 250 |
Other, net | 65 | 82 | 45 |
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions: | |||
Accounts receivable | -51 | 10 | 34 |
Prepaid expenses and other assets | -9 | 0 | -8 |
Accounts payable, accrued liabilities and other | 158 | 114 | 46 |
Net cash flows from operating activities | 2,359 | 2,158 | 1,876 |
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract] | |||
Purchases of property, plant and equipment | -2,221 | -1,825 | -1,745 |
Change in accrued expenses related to capital expenditures | 33 | 76 | 13 |
Sales (purchases) of cable systems, net | 11 | -676 | 19 |
Restricted cash in escrow | -7,111 | 0 | 0 |
Other, net | -16 | -18 | -24 |
Net cash flows from investing activities | -9,304 | -2,443 | -1,737 |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Borrowings of long-term debt | 8,806 | 6,782 | 5,830 |
Repayments of long-term debt | -1,980 | -6,520 | -5,901 |
Payments for debt issuance costs | -6 | -50 | -53 |
Purchase of treasury stock | -19 | -15 | -11 |
Proceeds from exercise of options and warrants | 123 | 104 | |
Proceeds from exercise of options | 15 | ||
Other, net | 3 | -2 | -14 |
Net cash flows from financing activities | 6,927 | 299 | -134 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | -18 | 14 | 5 |
CASH AND CASH EQUIVALENTS, beginning of period | 21 | 7 | 2 |
CASH AND CASH EQUIVALENTS, end of period | 3 | 21 | 7 |
Cash Paid for Interest | $850 | $763 | $904 |
Organization_and_Basis_of_Pres
Organization and Basis of Presentation (Notes) | 12 Months Ended |
Dec. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Basis of Presentation | Organization and Basis of Presentation |
Organization | |
Charter Communications, Inc. (“Charter”) is a holding company whose principal asset is a 100% common equity interest in Charter Communications Holding Company, LLC (“Charter Holdco”). Charter owns cable systems through its subsidiaries, which are collectively, with Charter, referred to herein as the “Company.” | |
The Company is a cable operator providing services in the United States. The Company offers to residential and commercial customers traditional cable video programming, Internet services, and voice services, as well as advanced video services such as video on demand, high definition television, and digital video recorder (“DVR”) service. The Company sells its cable video programming, Internet, voice, and advanced video services primarily on a subscription basis. The Company also sells local advertising on cable networks and on the Internet and provides fiber connectivity to cellular towers. | |
Basis of Presentation | |
The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”). | |
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Areas involving significant judgments and estimates include capitalization of labor and overhead costs; depreciation and amortization costs; valuations and impairments of property, plant and equipment, intangibles and goodwill; income taxes; contingencies and programming expense. Actual results could differ from those estimates. | |
Certain prior period amounts, primarily merger and acquisition costs, have been reclassified to conform with the 2014 presentation. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Accounting Policies [Abstract] | ||||||||||||
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies | |||||||||||
Consolidation | ||||||||||||
The accompanying consolidated financial statements include the accounts of Charter and its wholly owned subsidiaries. The Company consolidates based upon evaluation of the Company’s power, through voting rights or similar rights, to direct the activities of another entity that most significantly impact the entity’s economic performance; its obligation to absorb the expected losses of the entity; and its right to receive the expected residual returns of the entity. All significant inter-company accounts and transactions among consolidated entities have been eliminated. | ||||||||||||
Cash and Cash Equivalents | ||||||||||||
The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. These investments are carried at cost, which approximates market value. Cash and cash equivalents consist primarily of money market funds and commercial paper. | ||||||||||||
Property, Plant and Equipment | ||||||||||||
Additions to property, plant and equipment are recorded at cost, including all material, labor and certain indirect costs associated with the construction of cable transmission and distribution facilities. While the Company’s capitalization is based on specific activities, once capitalized, costs are tracked by fixed asset category at the cable system level and not on a specific asset basis. For assets that are sold or retired, the estimated historical cost and related accumulated depreciation is removed. Costs associated with initial customer installations and the additions of network equipment necessary to enable advanced video services are capitalized. Costs capitalized as part of initial customer installations include materials, labor, and certain indirect costs. Indirect costs are associated with the activities of the Company’s personnel who assist in connecting and activating the new service and consist of compensation and other costs associated with these support functions. Indirect costs primarily include employee benefits and payroll taxes, direct variable costs associated with capitalizable activities, consisting primarily of installation and construction, vehicle costs, the cost of dispatch personnel and indirect costs directly attributable to capitalizable activities. The costs of disconnecting service at a customer’s dwelling or reconnecting service to a previously installed dwelling are charged to operating expense in the period incurred. Costs for repairs and maintenance are charged to operating expense as incurred, while plant and equipment replacement and betterments, including replacement of cable drops from the pole to the dwelling, are capitalized. | ||||||||||||
Depreciation is recorded using the straight-line composite method over management’s estimate of the useful lives of the related assets as follows: | ||||||||||||
Cable distribution systems | 7-20 years | |||||||||||
Customer equipment and installations | 3-8 years | |||||||||||
Vehicles and equipment | 3-6 years | |||||||||||
Buildings and leasehold improvements | 15-40 years | |||||||||||
Furniture, fixtures and equipment | 6-10 years | |||||||||||
Asset Retirement Obligations | ||||||||||||
Certain of the Company’s franchise agreements and leases contain provisions requiring the Company to restore facilities or remove equipment in the event that the franchise or lease agreement is not renewed. The Company expects to continually renew its franchise agreements and has concluded that all of the related franchise rights are indefinite lived intangible assets. Accordingly, the possibility is remote that the Company would be required to incur significant restoration or removal costs related to these franchise agreements in the foreseeable future. A liability is required to be recognized for an asset retirement obligation in the period in which it is incurred if a reasonable estimate of fair value can be made. The Company has not recorded an estimate for potential franchise related obligations, but would record an estimated liability in the unlikely event a franchise agreement containing such a provision were no longer expected to be renewed. The Company also expects to renew many of its lease agreements related to the continued operation of its cable business in the franchise areas. For the Company’s lease agreements, the estimated liabilities related to the removal provisions, where applicable, have been recorded and are not significant to the financial statements. | ||||||||||||
Other Noncurrent Assets | ||||||||||||
Other noncurrent assets primarily include trademarks, right-of-entry costs and deferred financing costs. Trademarks have been determined to have an indefinite life and are tested annually for impairment. Right-of-entry costs represent costs incurred related to agreements entered into with landlords, real estate companies or owners to gain access to a building in order to provide cable service. Right-of-entry costs are generally deferred and amortized to amortization expense over the term of the agreement. Costs related to borrowings are deferred and amortized to interest expense over the terms of the related borrowings. | ||||||||||||
Valuation of Long-Lived Assets | ||||||||||||
The Company evaluates the recoverability of long-lived assets to be held and used when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Such events or changes in circumstances could include such factors as impairment of the Company’s indefinite life assets, changes in technological advances, fluctuations in the fair value of such assets, adverse changes in relationships with local franchise authorities, adverse changes in market conditions or a deterioration of operating results. If a review indicates that the carrying value of such asset is not recoverable from estimated undiscounted cash flows, the carrying value of such asset is reduced to its estimated fair value. While the Company believes that its estimates of future cash flows are reasonable, different assumptions regarding such cash flows could materially affect its evaluations of asset recoverability. No impairments of long-lived assets to be held and used were recorded in 2014, 2013 and 2012. | ||||||||||||
Revenue Recognition | ||||||||||||
Revenues from residential and commercial video, Internet and voice services are recognized when the related services are provided. Advertising sales are recognized at estimated realizable values in the period that the advertisements are broadcast. In some cases, the Company coordinates the advertising sales efforts of other cable operators in a certain market and remits amounts received from customers less an agreed-upon percentage to such cable operator. For those arrangements in which the Company acts as a principal, the Company records the revenues earned from the advertising customer on a gross basis and the amount remitted to the cable operator as an operating expense. | ||||||||||||
Fees imposed on Charter by various governmental authorities are passed through on a monthly basis to the Company’s customers and are periodically remitted to authorities. Fees of $283 million, $263 million and $260 million for the years ended December 31, 2014, 2013 and 2012, respectively, are reported in video, voice and commercial revenues, on a gross basis with a corresponding operating expense because the Company is acting as a principal. Other taxes, such as sales taxes imposed on the Company's customers, collected and remitted to state and local authorities, are recorded on a net basis because the Company is acting as an agent in such situation. | ||||||||||||
The Company’s revenues by product line are as follows: | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Video | $ | 4,443 | $ | 4,040 | $ | 3,649 | ||||||
Internet | 2,576 | 2,186 | 1,866 | |||||||||
Voice | 575 | 644 | 828 | |||||||||
Commercial | 993 | 812 | 648 | |||||||||
Advertising sales | 341 | 291 | 334 | |||||||||
Other | 180 | 182 | 179 | |||||||||
$ | 9,108 | $ | 8,155 | $ | 7,504 | |||||||
Programming Costs | ||||||||||||
The Company has various contracts to obtain basic, digital and premium video programming from programming vendors whose compensation is typically based on a flat fee per customer. The cost of the right to exhibit network programming under such arrangements is recorded in operating expenses in the month the programming is available for exhibition. Programming costs are paid each month based on calculations performed by the Company and are subject to periodic audits performed by the programmers. Certain programming contracts contain incentives to be paid by the programmers. The Company receives these payments and recognizes the incentives on a straight-line basis over the life of the programming agreement as a reduction of programming expense. This offset to programming expense was $19 million, $7 million and $6 million for the years ended December 31, 2014, 2013 and 2012, respectively. Programming costs included in the accompanying statements of operations were $2.5 billion, $2.1 billion and $2.0 billion for the years ended December 31, 2014, 2013 and 2012, respectively. | ||||||||||||
Advertising Costs | ||||||||||||
Advertising costs associated with marketing the Company’s products and services are generally expensed as costs are incurred. Such advertising expense was $380 million, $357 million and $325 million for the years ended December 31, 2014, 2013 and 2012, respectively. | ||||||||||||
Multiple-Element Transactions | ||||||||||||
In the normal course of business, the Company enters into multiple-element transactions where it is simultaneously both a customer and a vendor with the same counterparty or in which it purchases multiple products and/or services, or settles outstanding items contemporaneous with the purchase of a product or service from a single counterparty. Transactions, although negotiated contemporaneously, may be documented in one or more contracts. The Company’s policy for accounting for each transaction negotiated contemporaneously is to record each element of the transaction based on the respective estimated fair values of the products or services purchased and the products or services sold. In determining the fair value of the respective elements, the Company refers to quoted market prices (where available), historical transactions or comparable cash transactions. | ||||||||||||
Stock-Based Compensation | ||||||||||||
Restricted stock, restricted stock units, stock options and performance units and shares are measured at the grant date fair value and amortized to stock compensation expense over the requisite service period. The Company recorded $55 million, $48 million and $50 million of stock compensation expense, which is included in operating costs and expenses and other operating expenses, net for the years ended December 31, 2014, 2013 and 2012, respectively. | ||||||||||||
The fair value of options granted is estimated on the date of grant using the Black-Scholes option-pricing model and Monte Carlo simulations for options and restricted stock units with market conditions. The grant date weighted average assumptions used during the years ended December 31, 2014, 2013 and 2012, respectively, were: risk-free interest rate of 2.0%, 1.5% and 1.5%; expected volatility of 36.9%, 37.8% and 38.4%, and expected lives of 6.5 years, 6.3 years and 6.3 years. The grant date weighted average cost of equity used was 16.2% during each of the years ended December 31, 2013 and 2012. Volatility assumptions were based on historical volatility of Charter and a peer group. The Company’s volatility assumptions represent management’s best estimate and were partially based on historical volatility of a peer group because management does not believe Charter’s pre-emergence from bankruptcy historical volatility to be representative of its future volatility. Expected lives were calculated based on the simplified-method due to insufficient historical exercise data. The valuations assume no dividends are paid. | ||||||||||||
Income Taxes | ||||||||||||
The Company recognizes deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities and expected benefits of utilizing loss carryforwards. The impact on deferred taxes of changes in tax rates and tax law, if any, applied to the years during which temporary differences are expected to be settled, are reflected in the consolidated financial statements in the period of enactment. See Note 16. | ||||||||||||
Loss per Common Share | ||||||||||||
Basic loss per common share is computed by dividing the net loss by the weighted-average common shares outstanding during the respective periods. Diluted loss per common share equals basic loss per common share for the periods presented, as the effect of stock options and other convertible securities are anti-dilutive because the Company incurred net losses. | ||||||||||||
Segments | ||||||||||||
The Company’s operations are conducted through the use of a unified network and are managed and reported to its Chief Executive Officer ("CEO"), the Company's chief operating decision maker, on a consolidated basis. The CEO assesses performance and allocates resources based on the consolidated results of operations. Under this organizational and reporting structure, the Company has one reportable segment, broadband services. |
Acquisitions_and_Dispositions_
Acquisitions and Dispositions (Notes) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Business Combinations [Abstract] | ||||||||
Acquisitions and Dispositions | Acquisitions and Dispositions | |||||||
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 | 2012 | |||||||
(unaudited) | ||||||||
Revenues | $ | 8,419 | $ | 8,017 | ||||
Net loss | $ | (194 | ) | $ | (392 | ) | ||
Loss per common share, basic and diluted | $ | (1.90 | ) | $ | (3.93 | ) | ||
Transactions with Comcast | ||||||||
On April 25, 2014, the Company entered into a binding definitive agreement (the “Transactions Agreement”) with Comcast Corporation (“Comcast”), which contemplates the following transactions: (1) an asset purchase, (2) an asset exchange and (3) a contribution and spin-off transaction (collectively, the “Transactions”) as described in more detail below. The Transactions Agreement calls for the Transactions to be consummated substantially contemporaneously with each other as promptly as practicable following the merger of a subsidiary of Comcast with Time Warner Cable Inc. (“TWC”) as previously announced by Comcast and TWC. The completion of the Transactions will result in Charter acquiring approximately a net 1.3 million existing TWC residential and commercial video customers. | ||||||||
Asset Purchase | ||||||||
At closing, the Transactions Agreement calls for the Company to acquire from Comcast certain cable systems currently owned by TWC serving approximately 1.4 million video customers and all other assets and liabilities primarily related to such cable systems for cash consideration. The Transactions Agreement calls for the Company to pay to Comcast the tax benefit of the step-up it receives in the tax basis of the assets. The Transactions Agreement calls for such tax benefit to Charter to be paid as realized by the Company over an eight-year period, with an additional payment to be made at the end of such eight-year period in the amount of any remaining tax benefit (on a present value basis) not previously realized by Charter. | ||||||||
Asset Exchange | ||||||||
At closing, the Company and Comcast will exchange certain cable systems currently serving approximately 1.5 million TWC video customers and approximately 1.6 million Charter video customers and all other assets and liabilities primarily related to such cable systems. Most tax gains associated with the Asset Exchange are expected to be offset by Charter’s existing net operating losses. | ||||||||
Financing | ||||||||
Charter has received commitments from a number of leading Wall Street investment banks to provide incremental senior secured term loan facilities totaling up to $8.4 billion and a senior secured incremental revolving facility equal to $500 million under the Charter Operating credit facility. Pursuant to that commitment, Charter has fully drawn on $3.5 billion term loan G commitments. The amount of the commitments for incremental term loan facilities was further reduced by $3.5 billion at the closing of the offering of $1.5 billion aggregate principal amount of 5.50% senior notes due 2022 (the "2022 Notes") and $2.0 billion aggregate principal amount of 5.75% senior notes due 2024 (the "2024 Notes") (collectively, the "CCO Safari Notes") by CCOH Safari, LLC ("CCOH Safari"). Charter has $1.4 billion remaining in committed Charter Operating term loans. The proceeds from the term loan G and the Notes are being held in escrow subject to the closing of the Transactions and are recorded on the Company's consolidated balance sheet as noncurrent restricted cash and cash equivalents. The escrow for the CCOH Safari Notes continues until November 5, 2015. The escrow for term loan G continues so long as we pre-fund interest and the release conditions can be satisfied. The consideration for the assets acquired and transaction expenses will be financed with new indebtedness of Charter and is currently estimated at approximately $7.2 billion. The proceeds of the incremental facilities and the Notes will be used by Charter for the purpose of financing the Asset Purchase, paying fees and expenses incurred in connection with the Asset Purchase and the other Transactions, for providing ongoing working capital and for other general corporate purposes of Charter Operating and its subsidiaries. See Note 8. | ||||||||
Contribution and Spin-Off Transaction | ||||||||
CCH I, LLC (“CCH I”), a current indirect subsidiary of Charter, will be reorganized to be a direct subsidiary of Charter. CCH I will then form a new subsidiary that will merge with Charter, through a tax-free reorganization and become the new holding company (“New Charter”) that will own 100% of Charter and indirectly Charter Holdco. New Charter will then acquire an approximate 33% stake in a new publicly-traded cable provider to be spun-off by Comcast serving approximately 2.5 million existing Comcast video customers (the "Spin-Off"). The cable systems will be contributed to Midwest Cable, Inc., which upon consummation of the Transactions, is expected to change its name to GreatLand Connections Inc. (“GreatLand Connections”). New Charter will acquire its interest in GreatLand Connections by issuing New Charter stock to Comcast shareholders (including former TWC shareholders) as a result of a merger of a wholly owned subsidiary of New Charter with and into GreatLand Connections. Comcast shareholders, including the former TWC shareholders, are expected to own approximately 67% of GreatLand Connections, while New Charter is expected to directly own approximately 33% of GreatLand Connections. GreatLand Connections expects to incur leverage of approximately 5 times its estimated pro forma EBITDA (as such term is defined by GreatLand Connections’ financing sources for purposes of the financing) to fund a distribution to Comcast and issue notes to Comcast prior to the spin-off. Additionally, the Company will provide services to GreatLand Connections, and the Company will be reimbursed the actual economic costs of such services, in addition to a fee of 4.25% of GreatLand Connections' gross revenues. | ||||||||
The Asset Purchase, Asset Exchange and the acquisition of interests in GreatLand Connections will be valued at a 7.125 multiple of 2014 EBITDA (as defined by the parties), subject to certain post-closing adjustments. |
Allowance_for_Doubtful_Account
Allowance for Doubtful Accounts (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Receivables [Abstract] | ||||||||||||
Allowance for Doubtful Accounts | Allowance for Doubtful Accounts | |||||||||||
Activity in the allowance for doubtful accounts is summarized as follows for the years presented: | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Balance, beginning of period | $ | 19 | $ | 14 | $ | 16 | ||||||
Charged to expense | 122 | 101 | 105 | |||||||||
Uncollected balances written off, net of recoveries | (119 | ) | (96 | ) | (107 | ) | ||||||
Balance, end of period | $ | 22 | $ | 19 | $ | 14 | ||||||
Property_Plant_and_Equipment_N
Property, Plant and Equipment (Notes) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment | Property, Plant and Equipment | ||||||||
Property, plant and equipment consists of the following as of December 31, 2014 and 2013: | |||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Cable distribution systems | $ | 7,919 | $ | 7,556 | |||||
Customer equipment and installations | 4,388 | 4,061 | |||||||
Vehicles and equipment | 335 | 270 | |||||||
Buildings and leasehold improvements | 499 | 425 | |||||||
Furniture, fixtures and equipment | 716 | 456 | |||||||
13,857 | 12,768 | ||||||||
Less: accumulated depreciation | (5,484 | ) | (4,787 | ) | |||||
$ | 8,373 | $ | 7,981 | ||||||
The Company periodically evaluates the estimated useful lives used to depreciate its assets and the estimated amount of assets that will be abandoned or have minimal use in the future. A significant change in assumptions about the extent or timing of future asset retirements, or in the Company’s use of new technology and upgrade programs, could materially affect future depreciation expense. | |||||||||
Depreciation expense for the years ended December 31, 2014, 2013 and 2012 was $1.8 billion, $1.6 billion, and $1.4 billion, respectively. Property, plant and equipment increased $515 million as a result of cable system acquisitions during the year ended December 31, 2013. |
Franchises_Goodwill_and_Other_
Franchises, Goodwill and Other Intangible Assets (Notes) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||
Franchises, Goodwill and Other Intangible Assets | Franchises, Goodwill and Other Intangible Assets | ||||||||||||||||||||||||
Franchise rights represent the value attributed to agreements or authorizations with local and state authorities that allow access to homes in cable service areas. For valuation purposes, they are defined as the future economic benefits of the right to solicit and service potential customers (customer marketing rights), and the right to deploy and market new services to potential customers (service marketing rights). | |||||||||||||||||||||||||
Management estimates the fair value of franchise rights at the date of acquisition and determines if the franchise has a finite life or an indefinite life. All franchises that qualify for indefinite life treatment are tested for impairment annually or more frequently as warranted by events or changes in circumstances. In determining whether our franchises have an indefinite life, the Company considered the likelihood of franchise renewals, the expected costs of franchise renewals, and the technological state of the associated cable systems, with a view to whether or not it is in compliance with any technology upgrading requirements specified in a franchise agreement. The Company has concluded that as of December 31, 2014 and 2013 all of its franchises qualify for indefinite life treatment. | |||||||||||||||||||||||||
Franchise assets are aggregated into essentially inseparable units of accounting to conduct valuations. The units of accounting generally represent geographical clustering of our cable systems into groups. The Company assesses qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that an indefinite lived intangible asset has been impaired. If, after this qualitative assessment, the Company determines that it is not more likely than not that an indefinite lived intangible asset has been impaired, then no further quantitative testing is necessary. In completing the impairment testing, the Company evaluated the impact of various factors to the expected future cash flows attributable to its units of accounting and to the assumed discount rate which would be used to present value those cash flows. Such factors included macro-economic and industry conditions including the capital markets, regulatory, and competitive environment, and costs of programming and customer premise equipment along with changes to our organizational structure and strategies. After consideration of these qualitative factors, the Company concluded that it is more likely than not that the fair value of the franchise assets in each unit of accounting exceeds the carrying value of such assets and therefore did not perform a quantitative analysis in 2014, 2013 or 2012. | |||||||||||||||||||||||||
If the Company is required to perform a quantitative analysis to test its franchise assets for impairment, the Company determines the estimated fair value utilizing an income approach model based on the present value of the estimated discrete future cash flows attributable to each of the intangible assets identified assuming a discount rate. The fair value of franchises for impairment testing is determined based on estimated discrete discounted future cash flows using assumptions consistent with internal forecasts. The franchise after-tax cash flow is calculated as the after-tax cash flow generated by the potential customers obtained (less the anticipated customer churn), and the new services added to those customers in future periods. The sum of the present value of the franchises' after-tax cash flow in years 1 through 10 and the continuing value of the after-tax cash flow beyond year 10 yields the fair value of the franchises. | |||||||||||||||||||||||||
This approach makes use of unobservable factors such as projected revenues, expenses, capital expenditures, and a discount rate applied to the estimated cash flows. The determination of the discount rate is based on a weighted average cost of capital approach, which uses a market participant’s cost of equity and after-tax cost of debt and reflects the risks inherent in the cash flows. The Company estimates discounted future cash flows using reasonable and appropriate assumptions including among others, penetration rates for video, high-speed Internet, and voice; revenue growth rates; operating margins; and capital expenditures. The assumptions are based on the Company’s and its peers’ historical operating performance adjusted for current and expected competitive and economic factors surrounding the cable industry. The estimates and assumptions made in the Company’s valuations are inherently subject to significant uncertainties, many of which are beyond its control, and there is no assurance that these results can be achieved. The primary assumptions for which there is a reasonable possibility of the occurrence of a variation that would significantly affect the measurement value include the assumptions regarding revenue growth, programming expense growth rates, the amount and timing of capital expenditures and the discount rate utilized. | |||||||||||||||||||||||||
Goodwill is tested for impairment as of November 30 of each year, or more frequently as warranted by events or changes in circumstances. Accounting guidance also permits a qualitative assessment for goodwill to determine whether it is more likely than not that the carrying value of a reporting unit exceeds its fair value. If, after this qualitative assessment, the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount then no further quantitative testing would be necessary. If the Company is required to perform the two-step test under the accounting guidance, the first step involves a comparison of the estimated fair value of each reporting unit to its carrying amount. If the estimated fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired and the second step of the goodwill impairment is not necessary. If the carrying amount of a reporting unit exceeds its estimated fair value, then the second step of the goodwill impairment test must be performed, and a comparison of the implied fair value of the reporting unit’s goodwill is compared to its carrying amount to determine the amount of impairment, if any. The fair value of the reporting unit, when performing the second step of the goodwill impairment test, is determined using a consistent income approach model as that used for franchise impairment testing. As with the Company's franchise impairment testing, the Company elected to perform a qualitative assessment for its goodwill impairment testing in 2014, 2013 and 2012 and concluded that goodwill is not impaired. | |||||||||||||||||||||||||
Customer relationships, for valuation purposes, represent the value of the business relationship with existing customers (less the anticipated customer churn), and are calculated by projecting the discrete future after-tax cash flows from these customers, including the right to deploy and market additional services to these customers. The present value of these after-tax cash flows yields the fair value of the customer relationships. The use of different valuation assumptions or definitions of franchises or customer relationships, such as our inclusion of the value of selling additional services to our current customers within customer relationships versus franchises, could significantly impact our valuations and any resulting impairment. Customer relationships are amortized on an accelerated method over useful lives of 8-15 years based on the period over which current customers are expected to generate cash flows. Customer relationships are evaluated for impairment upon the occurrence of events or changes in circumstances indicating that the carrying amount of an asset may not be recoverable. Customer relationships are deemed impaired when the carrying value exceeds the projected undiscounted future cash flows associated with the customer relationships. No impairment of customer relationships was recorded in the years ended December 31, 2014, 2013 or 2012. | |||||||||||||||||||||||||
The fair value of trademarks is determined using the relief-from-royalty method which applies a fair royalty rate to estimated revenue. Royalty rates are estimated based on a review of market royalty rates in the communications and entertainment industries. As the Company expects to continue to use each trademark indefinitely, trademarks have been assigned an indefinite life and are tested annually for impairment using either a qualitative analysis or quantitative analysis as elected by management. The qualitative analysis did not identify any factors that would indicate that it was more likely than not that the fair value of trademarks were less than the carrying value and thus resulted in no impairment in 2014, 2013 or 2012. | |||||||||||||||||||||||||
As of December 31, 2014 and 2013, indefinite lived and finite-lived intangible assets are presented in the following table: | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||||||||||||
Indefinite lived intangible assets: | |||||||||||||||||||||||||
Franchises | $ | 6,006 | $ | — | $ | 6,006 | $ | 6,009 | $ | — | $ | 6,009 | |||||||||||||
Goodwill | 1,168 | — | 1,168 | 1,177 | — | 1,177 | |||||||||||||||||||
Trademarks | 159 | — | 159 | 158 | — | 158 | |||||||||||||||||||
Other intangible assets | 4 | — | 4 | 4 | — | 4 | |||||||||||||||||||
$ | 7,337 | $ | — | $ | 7,337 | $ | 7,348 | $ | — | $ | 7,348 | ||||||||||||||
Finite-lived intangible assets: | |||||||||||||||||||||||||
Customer relationships | $ | 2,616 | $ | 1,511 | $ | 1,105 | $ | 2,617 | $ | 1,228 | $ | 1,389 | |||||||||||||
Other intangible assets | 151 | 60 | 91 | 130 | 44 | 86 | |||||||||||||||||||
$ | 2,767 | $ | 1,571 | $ | 1,196 | $ | 2,747 | $ | 1,272 | $ | 1,475 | ||||||||||||||
Amortization expense related to customer relationships and other intangible assets for the years ended December 31, 2014, 2013 and 2012 was $299 million, $299 million and $293 million, respectively. | |||||||||||||||||||||||||
The Company expects amortization expense on its finite-lived intangible assets will be as follows. | |||||||||||||||||||||||||
2015 | $ | 267 | |||||||||||||||||||||||
2016 | 234 | ||||||||||||||||||||||||
2017 | 200 | ||||||||||||||||||||||||
2018 | 165 | ||||||||||||||||||||||||
2019 | 131 | ||||||||||||||||||||||||
Thereafter | 199 | ||||||||||||||||||||||||
$ | 1,196 | ||||||||||||||||||||||||
Actual amortization expense in future periods could differ from these estimates as a result of new intangible asset acquisitions or divestitures, changes in useful lives, impairments and other relevant factors. |
Accounts_Payable_and_Accrued_L
Accounts Payable and Accrued Liabilities (Notes) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Accounts Payable and Accrued Liabilities, Current [Abstract] | |||||||||
Accounts Payable and Accrued Liabilities | Accounts Payable and Accrued Liabilities | ||||||||
Accounts payable and accrued liabilities consist of the following as of December 31, 2014 and 2013: | |||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Accounts payable – trade | $ | 140 | $ | 91 | |||||
Accrued capital expenditures | 268 | 235 | |||||||
Deferred revenue | 85 | 90 | |||||||
Accrued liabilities: | |||||||||
Interest | 212 | 195 | |||||||
Programming costs | 430 | 379 | |||||||
Franchise related fees | 65 | 62 | |||||||
Compensation | 169 | 156 | |||||||
Other | 266 | 259 | |||||||
$ | 1,635 | $ | 1,467 | ||||||
LongTerm_Debt_Notes
Long-Term Debt (Notes) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||||
Long-Term Debt | Long-Term Debt | |||||||||||||||
Long-term debt consists of the following as of December 31, 2014 and 2013: | ||||||||||||||||
December 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Principal Amount | Accreted Value | Principal Amount | Accreted Value | |||||||||||||
CCOH Safari, LLC: | ||||||||||||||||
5.500% senior notes due December 1, 2022 | $ | 1,500 | $ | 1,500 | $ | — | $ | — | ||||||||
5.750% senior notes due December 1, 2024 | 2,000 | 2,000 | — | — | ||||||||||||
CCO Holdings, LLC: | ||||||||||||||||
7.250% senior notes due October 30, 2017 | 1,000 | 1,000 | 1,000 | 1,000 | ||||||||||||
7.000% senior notes due January 15, 2019 | 1,400 | 1,394 | 1,400 | 1,393 | ||||||||||||
8.125% senior notes due April 30, 2020 | 700 | 700 | 700 | 700 | ||||||||||||
7.375% senior notes due June 1, 2020 | 750 | 750 | 750 | 750 | ||||||||||||
5.250% senior notes due March 15, 2021 | 500 | 500 | 500 | 500 | ||||||||||||
6.500% senior notes due April 30, 2021 | 1,500 | 1,500 | 1,500 | 1,500 | ||||||||||||
6.625% senior notes due January 31, 2022 | 750 | 747 | 750 | 747 | ||||||||||||
5.250% senior notes due September 30, 2022 | 1,250 | 1,240 | 1,250 | 1,239 | ||||||||||||
5.125% senior notes due February 15, 2023 | 1,000 | 1,000 | 1,000 | 1,000 | ||||||||||||
5.750% senior notes due September 1, 2023 | 500 | 500 | 500 | 500 | ||||||||||||
5.750% senior notes due January 15, 2024 | 1,000 | 1,000 | 1,000 | 1,000 | ||||||||||||
Credit facility due September 6, 2014 | — | — | 350 | 342 | ||||||||||||
Charter Communications Operating, LLC: | ||||||||||||||||
Credit facilities | 3,742 | 3,709 | 3,548 | 3,510 | ||||||||||||
CCO Safari, LLC (an Unrestricted Subsidiary): | ||||||||||||||||
Credit facilities | 3,500 | 3,483 | — | — | ||||||||||||
$ | 21,092 | $ | 21,023 | $ | 14,248 | $ | 14,181 | |||||||||
The accreted values presented above represent the principal amount of the debt less the original issue discount at the time of sale, plus the accretion to the balance sheet date. However, the amount that is currently payable if the debt becomes immediately due is equal to the principal amount of the debt. The Company has availability under its credit facilities of approximately $817 million as of December 31, 2014, and as such, debt maturing in the next twelve months is classified as long-term. In addition, a $500 million revolver extension is currently committed and available to Charter. The availability of this revolver is not contingent or related to the closing of the Transactions. See Note 3. | ||||||||||||||||
Loss on extinguishment of debt consists of the following for the years ended December 31, 2014, 2013 and 2012: | ||||||||||||||||
Year ended December 31, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Charter Operating credit amendment / prepayments | $ | — | — | $ | 58 | 58 | $ | 92 | ||||||||
CCH II notes redemptions | — | — | — | — | (46 | ) | ||||||||||
Charter Operating notes repurchases | — | — | — | — | 9 | |||||||||||
CCO Holdings notes repurchases | — | — | 65 | 65 | — | |||||||||||
$ | — | — | $ | 123 | 123 | $ | 55 | |||||||||
CCOH Safari Notes | ||||||||||||||||
In October 2014, Charter created CCOH Safari as a 100% wholly-owned indirect finance subsidiary of Charter. In November 2014, CCOH Safari, closed on transactions in which it issued $1.5 billion aggregate principal amount of 5.500% senior notes due 2022 and $2.0 billion aggregate principal amount of 5.750% senior notes due 2024. The net proceeds of the offering and sale of the CCOH Safari Notes and the next semi-annual interest payment are being held in escrow to fund a portion of the purchase of certain assets pursuant to the Transactions. The release of the proceeds from the escrow will be subject to the satisfaction of certain conditions, including the closing of the Transactions. Substantially concurrently with the escrow release, the CCOH Safari Notes will become obligations of CCO Holdings and CCO Holdings Capital. CCOH Safari will merge into CCO Holdings. Should the Transactions Agreement be terminated prior to the consummation of the Transactions, or upon expiration of the escrow agreement on November 5, 2015, such amounts placed in escrow must be used to settle amounts outstanding under the CCOH Safari Notes at par value. The amounts held in escrow are classified as noncurrent restricted cash and cash equivalents in the Company's consolidated balance sheet as of December 31, 2014. See Note 3. | ||||||||||||||||
The CCOH Safari Notes are guaranteed by Charter. Initially, they are senior debt obligations of CCOH Safari. Upon release of the proceeds from escrow, the CCOH Safari Notes will be senior debt obligations of CCO Holdings and CCO Holdings Capital Corp. and rank equally with all other current and future unsecured, unsubordinated obligations of CCO Holdings and CCO Holdings Capital Corp. The CCOH Safari Notes are structurally subordinated to all obligations of subsidiaries of CCO Holdings, including the Charter Operating and CCO Safari, LLC ("CCO Safari") credit facilities. | ||||||||||||||||
Following the release of the proceeds, CCO Holdings may redeem some or all of the CCOH Safari Notes at any time at a premium. The optional redemption price declines to 100% of the respective series' principal amount, plus accrued and unpaid interest, if any, on or after varying dates in 2017 through 2020 with respect to the 2022 Notes and 2019 through 2022 with respect to the 2024 Notes. | ||||||||||||||||
In addition, at any time following the release of the proceeds and prior to December 1, 2017, with respect to the 2022 Notes, and December 1, 2019, with respect to the 2024 Notes, CCO Holdings and CCO Holdings Capital Corp. may redeem up to 40% of the aggregate principal amount of such CCOH Safari Notes at a redemption price at a premium plus accrued and unpaid interest to the redemption date, with the net cash proceeds of one or more equity offerings (as defined in the indenture); provided that certain conditions are met. | ||||||||||||||||
In the event of specified change of control events, CCO Holdings must offer to purchase the CCOH Safari Notes from the holders at a purchase price equal to 101% of the total principal amount of the notes, plus any accrued and unpaid interest. | ||||||||||||||||
CCO Holdings Notes | ||||||||||||||||
The CCO Holdings notes are guaranteed by Charter. They are senior debt obligations of CCO Holdings and CCO Holdings Capital Corp. and rank equally with all other current and future unsecured, unsubordinated obligations of CCO Holdings and CCO Holdings Capital Corp. The CCO Holdings notes are structurally subordinated to all obligations of subsidiaries of CCO Holdings, including the Charter Operating credit facilities. | ||||||||||||||||
CCO Holdings may redeem some or all of the CCO Holdings notes at any time at a premium. The optional redemption price declines to 100% of the respective series’ principal amount, plus accrued and unpaid interest, if any, on or after varying dates in 2016 through 2021. | ||||||||||||||||
In addition, at any time prior to varying dates in 2015 through 2016, CCO Holdings may redeem up to 35% of the aggregate principal amount of the notes at a redemption price at a premium plus accrued and unpaid interest to the redemption date, with the net cash proceeds of one or more equity offerings (as defined in the indenture); provided that certain conditions are met. | ||||||||||||||||
In the event of specified change of control events, CCO Holdings must offer to purchase the outstanding CCO Holdings notes from the holders at a purchase price equal to 101% of the total principal amount of the notes, plus any accrued and unpaid interest. | ||||||||||||||||
High-Yield Restrictive Covenants; Limitation on Indebtedness. | ||||||||||||||||
The indentures governing the CCO Holdings notes and CCOH Safari notes (following the release of proceeds from escrow) contain certain covenants that restrict the ability of CCO Holdings, CCO Holdings Capital Corp. and all of their restricted subsidiaries to: | ||||||||||||||||
• | incur additional debt; | |||||||||||||||
• | pay dividends on equity or repurchase equity; | |||||||||||||||
• | make investments; | |||||||||||||||
• | sell all or substantially all of their assets or merge with or into other companies; | |||||||||||||||
• | sell assets; | |||||||||||||||
• | in the case of restricted subsidiaries, create or permit to exist dividend or payment restrictions with respect to CCO Holdings, guarantee their parent companies debt, or issue specified equity interests; | |||||||||||||||
• | engage in certain transactions with affiliates; and | |||||||||||||||
• | grant liens. | |||||||||||||||
The above limitations in certain circumstances regarding incurrence of debt, payment of dividends and making investments contained in the indentures of CCO Holdings and CCOH Safari, permit CCO Holdings and its restricted subsidiaries to perform the above, so long as, after giving pro forma effect to the above, the leverage ratio would be below a specified level for the issuer. The leverage ratio under the indentures is 6.0 to 1. | ||||||||||||||||
Charter Operating Credit Facilities | ||||||||||||||||
The Charter Operating credit facilities have an outstanding principal amount of $3.7 billion at December 31, 2014 as follows: | ||||||||||||||||
• | A term loan A with a remaining principal amount of $684 million, which is repayable in quarterly installments and aggregating $38 million in 2015, $66 million in 2016 and $75 million in 2017, with the remaining balance due at final maturity on April 22, 2018. Pricing on term loan A is LIBOR plus 2%; | |||||||||||||||
• | A term loan E with a remaining principal amount of approximately $1.5 billion, which is repayable in equal quarterly installments and aggregating $15 million in each loan year, with the remaining balance due at final maturity on July 1, 2020. Pricing on term loan E is LIBOR plus 2.25% with a LIBOR floor of 0.75%; | |||||||||||||||
• | A term loan F with a remaining principal amount of approximately $1.2 billion, which is repayable in equal quarterly installments and aggregating $12 million in each loan year, with the remaining balance due at final maturity on January 3, 2021. Pricing on term loan F is LIBOR plus 2.25% with a LIBOR floor of 0.75%; and | |||||||||||||||
• | A revolving loan with an outstanding balance of $399 million at December 31, 2014 and allowing for borrowings of up to $1.3 billion, maturing on April 22, 2018. Pricing on the revolving loan is LIBOR plus 2% with a commitment fee of 0.30%. | |||||||||||||||
Amounts outstanding under the Charter Operating credit facilities bear interest, at Charter Operating’s election, at a base rate or LIBOR (0.17% as of December 31, 2014 and December 31, 2013), as defined, plus an applicable margin. | ||||||||||||||||
The Charter Operating credit facilities also allow us to enter into incremental term loans in the future, with amortization as set forth in the notices establishing such term loans. Although the Charter Operating credit facilities allow for the incurrence of a certain amount of incremental term loans subject to pro-forma compliance with its financial maintenance covenants, no assurance can be given that the Company could obtain additional incremental term loans in the future if Charter Operating sought to do so or what amount of incremental term loans would be allowable at any given time under the terms of the Charter Operating credit facilities. | ||||||||||||||||
The obligations of Charter Operating under the Charter Operating credit facilities are guaranteed by Charter Operating’s immediate parent company, CCO Holdings, and subsidiaries of Charter Operating. The obligations are also secured by (i) a lien on substantially all of the assets of Charter Operating and its subsidiaries, to the extent such lien can be perfected under the Uniform Commercial Code by the filing of a financing statement, and (ii) a pledge by CCO Holdings of the equity interests owned by it in any of Charter Operating’s subsidiaries, as well as inter-company obligations owing to it by any of such entities. | ||||||||||||||||
CCO Safari Credit Facility | ||||||||||||||||
In September 2014, Charter Operating entered into a new term loan G facility pursuant to the terms of the Charter Operating credit agreement providing for a $3.5 billion term loan maturing in 2021. Pricing on the term loan G was set at LIBOR plus 3.50% with a LIBOR floor of 0.75% and issued at a price of 99.50% of the aggregate principal amount. The term loan G forms a portion of the incremental facilities commitments as announced by Charter in July 2014 that will be used to fund the purchase of certain assets pursuant to the Transactions. Charter Operating assigned all of its obligations with respect to the term loan G and transferred all of the proceeds from the term loan G to a newly-created subsidiary, CCO Safari, which is considered a Non-Recourse Subsidiary under Charter Operating’s credit agreement, and CCO Safari placed the funds in an escrow account pending closing of the Transactions. The administrative agent has a perfected first priority security interest in the escrow funds on behalf of the lenders that are a party to the CCO Safari credit facility. The amounts borrowed under the term loan G facility are not considered when calculating the leverage ratio on CCO Holdings' indentures as CCO Safari has been designated as an Unrestricted Subsidiary under CCO Holdings' indenture. At closing of the Transactions, subject to certain conditions, Charter Operating will re-assume the obligations in respect of the term loan G under the Charter Operating credit agreement and the term loan G will be subject to the terms and conditions of the Charter Operating credit facilities. Such amounts, along with required original issuance discount and one month of interest, were placed in escrow and classified as noncurrent restricted cash and cash equivalents in the Company's consolidated balance sheet as of December 31, 2014. Should the Transactions Agreement be terminated prior to the consummation of the Transactions, such amounts placed in escrow must be used to settle amounts outstanding under the term loan G at par value less the original issue discount. See Note 3. | ||||||||||||||||
Charter Operating Credit Facilities — Restrictive Covenants | ||||||||||||||||
The Charter Operating credit facilities contain representations and warranties, and affirmative and negative covenants customary for financings of this type. The financial covenants measure performance against standards set for leverage to be tested as of the end of each quarter. The Charter Operating credit facilities contain provisions requiring mandatory loan prepayments under specific circumstances, including in connection with certain sales of assets, so long as the proceeds have not been reinvested in the business. Additionally, the Charter Operating credit facilities provisions contain an allowance for restricted payments so long as the consolidated leverage ratio is no greater than 3.5 after giving pro forma effect to such restricted payment. The Charter Operating credit facilities permit Charter Operating and its subsidiaries to make distributions to pay interest on the currently outstanding subordinated and parent company indebtedness, provided that, among other things, no default has occurred and is continuing under the Charter Operating credit facilities. | ||||||||||||||||
The events of default under the Charter Operating credit facilities include, among other things: | ||||||||||||||||
• | the failure to make payments when due or within the applicable grace period; | |||||||||||||||
• | the failure to comply with specified covenants including the covenant to maintain the consolidated leverage ratio at or below 5.0 to 1.0 and the consolidated first lien leverage ratio at or below 4.0 to 1.0; | |||||||||||||||
• | the failure to pay or the occurrence of events that cause or permit the acceleration of other indebtedness owing by CCO Holdings, Charter Operating, or Charter Operating’s subsidiaries in aggregate principal amounts in excess of $100 million; and | |||||||||||||||
• | similar to provisions contained in the note indentures and credit facility, the consummation of any change of control transaction resulting in any person or group having power, directly or indirectly, to vote more than 50% of the ordinary voting power for the management of Charter Operating on a fully diluted basis and the occurrence of a ratings event including a downgrade in the corporate family rating during a ratings decline period. | |||||||||||||||
CCO Safari Credit Facility — Restrictive Covenants | ||||||||||||||||
The term loan G is subject to the terms and conditions of a separate credit facility and escrow agreement until Charter Operating re-assumes its obligations for the loan. The CCO Safari credit facility contains customary representations and warranties and affirmative covenants with limited negative covenants prohibiting CCO Safari from engaging in any material activities other than performing its obligations under the credit facility and the escrow agreement or otherwise issuing other indebtedness pursuant to escrow arrangements similar to the CCO Safari credit facility and escrow agreement. As required by the CCO Safari credit facility, CCO Safari, Bank of America, N.A., and U.S. Bank, N.A., as escrow agent, entered into an escrow agreement pursuant to which, CCO Safari is required to maintain an escrow account over which the administrative agent has a perfected first priority security interest on behalf of the CCO Safari credit facility lenders. The events of default under the CCO Safari credit facility include, among others: | ||||||||||||||||
• | the failure to make payments when due or within the applicable grace period; | |||||||||||||||
• | any acceleration of the loans and termination of the commitments under the Charter Operating credit facilities; and | |||||||||||||||
• | the escrow agreement shall cease to be in full force and effect or the lien in the escrow account shall cease to be enforceable with the same effect and priority. | |||||||||||||||
Limitations on Distributions | ||||||||||||||||
Distributions by the Company’s subsidiaries to a parent company for payment of principal on parent company notes are restricted under the indentures and credit facilities discussed above, unless there is no default under the applicable indenture and credit facilities, and unless each applicable subsidiary’s leverage ratio test is met at the time of such distribution. As of December 31, 2014, there was no default under any of these indentures or credit facilities. Distributions by Charter Operating for payment of principal on parent company notes are further restricted by the covenants in its credit facilities. | ||||||||||||||||
In addition to the limitation on distributions under the various indentures discussed above, distributions by the Company’s subsidiaries may only be made if they have “surplus” as defined in the Delaware Limited Liability Company Act. | ||||||||||||||||
Liquidity and Future Principal Payments | ||||||||||||||||
The Company continues to have significant amounts of debt, and its business requires significant cash to fund principal and interest payments on its debt, capital expenditures and ongoing operations. As set forth below, the Company has significant future principal payments beginning in 2017 and beyond. The Company continues to monitor the capital markets, and it expects to undertake refinancing transactions and utilize free cash flow and cash on hand to further extend or reduce the maturities of its principal obligations. The timing and terms of any refinancing transactions will be subject to market conditions. | ||||||||||||||||
Based upon outstanding indebtedness as of December 31, 2014, the amortization of term loans, and the maturity dates for all senior and subordinated notes, total future principal payments on the total borrowings under all debt agreements as of December 31, 2014, are as follows: | ||||||||||||||||
Year | Amount | |||||||||||||||
2015 | $ | 91 | ||||||||||||||
2016 | 127 | |||||||||||||||
2017 | 1,137 | |||||||||||||||
2018 | 967 | |||||||||||||||
2019 | 1,462 | |||||||||||||||
Thereafter | 17,308 | |||||||||||||||
$ | 21,092 | |||||||||||||||
Treasury_Stock_Notes
Treasury Stock (Notes) | 12 Months Ended |
Dec. 31, 2014 | |
Equity [Abstract] | |
Treasury Stock | Treasury Stock |
In December 2011, the Company purchased, in a private transaction with a shareholder, 750,000 shares at $55.18 for a total of $41 million. The Company received 700,668 of the shares prior to December 31, 2011, with 49,332 shares received in January 2012. | |
During the years ended December 31, 2014, 2013 and 2012, the Company withheld 141,257, 150,258 and 129,417 shares, respectively, of its common stock in payment of $19 million, $15 million and $9 million, respectively, of tax withholdings owed by employees upon vesting of restricted shares. | |
In December 2014 and 2013, Charter's board of directors approved the retirement of treasury stock and 141,257 and 150,258 shares of treasury stock were retired as of December 31, 2014 and 2013, respectively. | |
The Company accounted for treasury stock using the cost method and the treasury shares upon repurchase were reflected on the Company’s consolidated balance sheets as a component of total shareholders’ equity. Upon retirement, these treasury shares were allocated between additional paid-in capital and accumulated deficit based on the cost of original issue included in additional paid-in capital. |
Common_Stock_Notes
Common Stock (Notes) | 12 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Class of Stock Disclosures [Abstract] | |||||||
Common Stock | Common Stock | ||||||
Charter’s Class A common stock and Class B common stock are identical except with respect to certain voting, transfer and conversion rights. Holders of Class A common stock are entitled to one vote per share and holders of Class B common stock are entitled to votes equaling 35% of the voting interests in Charter on a fully diluted basis. The Company currently does not have any outstanding Class B Common Stock. | |||||||
In 2014 and 2013, the Company issued approximately 5.2 million and 4.5 million shares, respectively, of Charter Class A common stock as a result of exercises by holders who received warrants pursuant to the Joint Plan of Reorganization upon the Company's emergence from bankruptcy in 2009. The exercises resulted in proceeds to the Company of approximately $90 million and $76 million, respectively. As of December 31, 2014, there were no warrants outstanding. | |||||||
The following table summarizes our shares outstanding for the three years ended December 31, 2014: | |||||||
Class A Common Stock | Class B Common Stock | ||||||
BALANCE, December 31, 2011 | 100,570,418 | — | |||||
Option exercises | 370,715 | — | |||||
Restricted stock issuances, net of cancellations | 182,537 | — | |||||
Stock issuances from exercise of warrants | 179,850 | — | |||||
Restricted stock unit vesting | 51,476 | — | |||||
Purchase of treasury stock (see Note 9) | (178,749 | ) | — | ||||
BALANCE, December 31, 2012 | 101,176,247 | — | |||||
Option exercises | 543,221 | — | |||||
Restricted stock issuances, net of cancellations | 4,879 | — | |||||
Stock issuances from exercise of warrants | 4,481,656 | — | |||||
Restricted stock unit vesting | 88,330 | — | |||||
Purchase of treasury stock (see Note 9) | (150,258 | ) | — | ||||
BALANCE, December 31, 2013 | 106,144,075 | — | |||||
Option exercises | 640,342 | — | |||||
Restricted stock issuances, net of cancellations | 9,090 | — | |||||
Stock issuances from exercise of warrants | 5,243,167 | — | |||||
Restricted stock unit vesting | 104,270 | — | |||||
Purchase of treasury stock (see Note 9) | (141,257 | ) | — | ||||
BALANCE, December 31, 2014 | 111,999,687 | — | |||||
Accounting_for_Derivative_Inst
Accounting for Derivative Instruments and Hedging Activities (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||
Accounting for Derivative Instruments and Hedging Activities | Accounting for Derivative Instruments and Hedging Activities | |||||||||||
The Company uses interest rate derivative instruments to manage its interest costs and reduce the Company’s exposure to increases in floating interest rates. The Company manages its exposure to fluctuations in interest rates by maintaining a mix of fixed and variable rate debt. Using interest rate derivative instruments, the Company agrees to exchange, at specified intervals through 2017, the difference between fixed and variable interest amounts calculated by reference to agreed-upon notional principal amounts. The Company does not hold or issue derivative instruments for speculative trading purposes. | ||||||||||||
The Company, until de-designating in the three months ended March 31, 2013, had certain interest rate derivative instruments that were designated as cash flow hedging instruments for GAAP purposes. Such instruments effectively converted variable interest payments on certain debt instruments into fixed payments. For qualifying hedges, realized derivative gains and losses offset related results on hedged items in the consolidated statements of operations. The Company formally documented, designated and assessed the effectiveness of transactions that received hedge accounting. | ||||||||||||
The effect of interest rate derivatives on the Company’s consolidated balance sheets is presented in the table below: | ||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||
Accrued interest | $ | 2 | $ | 8 | ||||||||
Other long-term liabilities | $ | 16 | $ | 22 | ||||||||
Accumulated other comprehensive loss | $ | (22 | ) | $ | (41 | ) | ||||||
Changes in the fair value of interest rate derivative instruments that were designated as hedging instruments of the variability of cash flows associated with floating-rate debt obligations, and that met effectiveness criteria were reported in accumulated other comprehensive loss. The amounts were subsequently reclassified as an increase or decrease to interest expense in the same periods in which the related interest on the floating-rate debt obligations affected earnings (losses). | ||||||||||||
Due to repayment of variable rate credit facility debt without a LIBOR floor, certain interest rate derivative instruments were de-designated as cash flow hedges during the three months ended March 31, 2013, as they no longer met the criteria for cash flow hedging specified by GAAP. In addition, on March 31, 2013, the remaining interest rate derivative instruments that continued to be highly effective cash flow hedges for GAAP purposes were electively de-designated. On the date of de-designation, the Company completed a final measurement test for each interest rate derivative instrument to determine any ineffectiveness and such amount was reclassified from accumulated other comprehensive loss into gain on derivative instruments, net in the Company's consolidated statements of operations. While these interest rate derivative instruments are no longer designated as cash flow hedges for accounting purposes, management continues to believe such instruments are closely correlated with the respective debt, thus managing associated risk. Interest rate derivative instruments not designated as hedges are marked to fair value, with the impact recorded as a gain or loss on derivative instruments, net in the Company's consolidated statements of operations. The balance that remains in accumulated other comprehensive loss for these interest rate derivative instruments will be amortized over the respective lives of the contracts and recorded as a loss within gain (loss) on derivative instruments, net in the Company's consolidated statements of operations. The estimated net amount of existing losses that are reported in accumulated other comprehensive loss as of December 31, 2014 that is expected to be reclassified into earnings within the next twelve months is approximately $9 million. | ||||||||||||
The effects of derivative instruments on the Company’s consolidated statements of comprehensive loss and consolidated statements of operations is presented in the table below. | ||||||||||||
Year Ended December 31, 2014 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Gain (loss) on derivative instruments, net: | ||||||||||||
Change in fair value of interest rate derivative instruments not designated as cash flow hedges | $ | 12 | $ | 38 | $ | — | ||||||
Loss reclassified from accumulated other comprehensive loss into earnings as a result of cash flow hedge discontinuance | (19 | ) | (27 | ) | — | |||||||
$ | (7 | ) | $ | 11 | $ | — | ||||||
Interest expense: | ||||||||||||
Loss reclassified from accumulated other comprehensive loss into interest expense | $ | — | $ | (10 | ) | $ | (36 | ) | ||||
As of December 31, 2014 and 2013, the Company had $1.4 billion and $2.2 billion in notional amounts of interest rate derivative instruments outstanding. As of December 31, 2014, this includes $150 million in delayed start interest rate derivative instruments that become effective in March 2015. Also in March 2015, $300 million of currently effective swaps expire and therefore the notional amount of currently effective interest rate derivative instruments will decrease. | ||||||||||||
The notional amounts of interest rate instruments do not represent amounts exchanged by the parties and, thus, are not a measure of exposure to credit loss. The amounts exchanged were determined by reference to the notional amount and the other terms of the contracts. |
Fair_Value_Measurements_Notes
Fair Value Measurements (Notes) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||
Fair Value Measurements | Fair Value Measurements | ||||||||||||||||||||||||
The accounting guidance establishes a three-level hierarchy for disclosure of fair value measurements, based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date, as follows: | |||||||||||||||||||||||||
• | Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. | ||||||||||||||||||||||||
• | Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. | ||||||||||||||||||||||||
• | Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement. | ||||||||||||||||||||||||
Financial Assets and Liabilities | |||||||||||||||||||||||||
The Company has estimated the fair value of its financial instruments as of December 31, 2014 and 2013 using available market information or other appropriate valuation methodologies. Considerable judgment, however, is required in interpreting market data to develop the estimates of fair value. Accordingly, the estimates presented in the accompanying consolidated financial statements are not necessarily indicative of the amounts the Company would realize in a current market exchange. | |||||||||||||||||||||||||
The carrying amounts of cash and cash equivalents, receivables, payables and other current assets and liabilities approximate fair value because of the short maturity of those instruments. | |||||||||||||||||||||||||
The Company's restricted cash and cash equivalents at December 31, 2014 are primarily invested in money market funds and 90-day or less commercial paper. The money market funds are valued at the closing price reported by the fund sponsor from an actively traded exchange and the commercial paper is valued at cost plus the accretion of the discount on a yield to maturity basis, which approximates fair value. The money market funds and commercial paper potentially subject us to concentrations of credit risk. The amount invested within any one financial instrument did not exceed $550 million during the year ended December 31, 2014. As of December 31, 2014, there were no significant concentrations of financial instruments in a single investee, industry or geographic location. | |||||||||||||||||||||||||
The interest rate derivatives are valued using a present value calculation based on an implied forward LIBOR curve (adjusted for Charter Operating’s or counterparties’ credit risk). The weighted average pay rate for the Company’s currently effective interest rate swaps was 1.87% and 2.17% at December 31, 2014 and 2013 (exclusive of applicable spreads). | |||||||||||||||||||||||||
The Company's financial instruments that are accounted for at fair value on a recurring basis are presented in the table below. | |||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Money market funds | $ | 4,112 | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Commercial paper | $ | — | $ | 2,999 | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Liabilities | |||||||||||||||||||||||||
Interest rate derivatives | $ | — | $ | 18 | $ | — | $ | — | $ | 30 | $ | — | |||||||||||||
A summary of the carrying value and fair value of the Company’s debt at December 31, 2014 and 2013 is as follows: | |||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Carrying Value | Fair Value | Carrying Value | Fair Value | ||||||||||||||||||||||
Debt | |||||||||||||||||||||||||
Senior notes | $ | 13,831 | $ | 14,205 | $ | 10,329 | $ | 10,384 | |||||||||||||||||
Credit facilities | $ | 7,192 | $ | 7,186 | $ | 3,852 | $ | 3,848 | |||||||||||||||||
The estimated fair value of the Company’s senior notes at December 31, 2014 and 2013 is based on quoted market prices in active markets and is classified within Level 1 of the valuation hierarchy, while the estimated fair value of the Company's credit facilities is based on quoted market prices in inactive markets and is classified within Level 2. | |||||||||||||||||||||||||
Non-financial Assets and Liabilities | |||||||||||||||||||||||||
The Company’s non-financial assets such as franchises, property, plant, and equipment, and other intangible assets are not measured at fair value on a recurring basis; however they are subject to fair value adjustments in certain circumstances, such as when there is evidence that an impairment may exist. No impairments were recorded in 2014, 2013 and 2012. |
Operating_Costs_and_Expenses_N
Operating Costs and Expenses (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Operating Costs and Expenses [Abstract] | ||||||||||||
Operating Costs and Expenses | Operating Costs and Expenses | |||||||||||
Operating costs and expenses consist of the following for the years presented: | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Programming | $ | 2,459 | $ | 2,146 | $ | 1,965 | ||||||
Franchise, regulatory and connectivity | 428 | 399 | 383 | |||||||||
Costs to service customers | 1,675 | 1,561 | 1,394 | |||||||||
Marketing | 529 | 488 | 431 | |||||||||
Other | 882 | 751 | 687 | |||||||||
$ | 5,973 | $ | 5,345 | $ | 4,860 | |||||||
Programming costs consist primarily of costs paid to programmers for basic, premium, digital, video on demand, and pay-per-view programming. Franchise, regulatory and connectivity costs represent payments to franchise and regulatory authorities and costs directly related to providing Internet and voice services. Costs to service customers include residential and commercial costs related to field operations, network operations and customer care including internal and third party labor for installations, service and repairs, maintenance, billing and collection, occupancy and vehicle costs. Marketing costs represents the costs of marketing to our current and potential commercial and residential customers including labor costs. Other includes bad debt expense, corporate overhead, commercial and advertising sales expenses, property tax and insurance and stock compensation expense, among others. |
Other_Operating_Expenses_Net_N
Other Operating Expenses, Net (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Other Income and Expenses [Abstract] | ||||||||||||
Other Operating Expenses, Net | Other Operating Expenses, Net | |||||||||||
Other operating expenses, net consist of the following for the years presented: | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Merger and acquisition costs | $ | 38 | $ | 16 | $ | 1 | ||||||
Special charges, net | 14 | 23 | 20 | |||||||||
(Gain) loss on sale of assets, net | 10 | 8 | (5 | ) | ||||||||
$ | 62 | $ | 47 | $ | 16 | |||||||
Merger and acquisition costs | ||||||||||||
Merger and acquisition costs represents costs incurred in connection with merger and acquisition transactions, such as advisory, legal and accounting fees, among others. | ||||||||||||
Special charges, net | ||||||||||||
Special charges, net for the years ended 2014, 2013 and 2012 primarily include severance charges and net amounts of litigation settlements. | ||||||||||||
(Gain) loss on sale of assets, net | ||||||||||||
(Gain) loss on sale of assets represents the gain or loss recognized on the sales and disposals of fixed assets and cable systems. |
Stock_Compensation_Plans_Notes
Stock Compensation Plans (Notes) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||||||||||||||
Stock Compensation Plans | Stock Compensation Plans | |||||||||||||||||||||||
Charter’s 2009 Stock Incentive Plan provides for grants of non-qualified stock options, incentive stock options, stock appreciation rights, dividend equivalent rights, performance units and performance shares, share awards, phantom stock, restricted stock units and restricted stock. Directors, officers and other employees of the Company and its subsidiaries, as well as others performing consulting services for the Company, are eligible for grants under the 2009 Stock Incentive Plan. The 2009 Stock Incentive Plan allows for the issuance of up to 14 million shares of Charter Class A common stock (or units convertible into Charter Class A common stock). | ||||||||||||||||||||||||
Stock options granted prior to 2014 generally vest annually over three or four years from either the grant date or delayed vesting commencement dates. Stock options generally expire ten years from the grant date. Restricted stock vests annually over a one to four-year period beginning from the date of grant. Certain stock options and restricted stock vest based on achievement of stock price hurdles. Restricted stock units have no voting rights, and restricted stock units granted prior to 2014 vest ratably over three or four years from either the grant date or delayed vesting commencement dates. Stock options and restricted stock units granted in 2014 cliff vest over three years. As of December 31, 2014, total unrecognized compensation remaining to be recognized in future periods totaled $66 million for stock options, $9 million for restricted stock and $26 million for restricted stock units and the weighted average period over which they are expected to be recognized is 2 years for stock options, 1 years for restricted stock and 2 years for restricted stock units. | ||||||||||||||||||||||||
The Company recorded $55 million, $48 million and $50 million of stock compensation expense for the years ended December 31, 2014, 2013 and 2012, respectively, which is included in operating costs and expenses. | ||||||||||||||||||||||||
A summary of the activity for the Company’s stock options for the years ended December 31, 2014, 2013 and 2012, is as follows (amounts in thousands, except per share data): | ||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Shares | Weighted Average Exercise Price | Shares | Weighted Average Exercise Price | Shares | Weighted Average Exercise Price | |||||||||||||||||||
Outstanding, beginning of period | 3,142 | $ | 59.86 | 3,552 | $ | 54.35 | 4,018 | $ | 49.53 | |||||||||||||||
Granted | 1,234 | $ | 136.75 | 276 | $ | 108.89 | 813 | $ | 69 | |||||||||||||||
Exercised | (640 | ) | $ | 52.5 | (543 | ) | $ | 51.22 | (371 | ) | $ | 40.57 | ||||||||||||
Canceled | (47 | ) | $ | 104.57 | (143 | ) | $ | 50.54 | (908 | ) | $ | 51.74 | ||||||||||||
Outstanding, end of period | 3,689 | $ | 86.29 | 3,142 | $ | 59.86 | 3,552 | $ | 54.35 | |||||||||||||||
Weighted average remaining contractual life | 7 | years | 7 | years | 8 | years | ||||||||||||||||||
Options exercisable, end of period | 1,317 | $ | 55.65 | 1,128 | $ | 52.07 | 469 | $ | 46.23 | |||||||||||||||
Weighted average fair value of options granted | $ | 55.08 | $ | 41.52 | $ | 28.17 | ||||||||||||||||||
A summary of the activity for the Company’s restricted stock for the years ended December 31, 2014, 2013 and 2012, is as follows (amounts in thousands, except per share data): | ||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Shares | Weighted Average Grant Price | Shares | Weighted Average Grant Price | Shares | Weighted Average Grant Price | |||||||||||||||||||
Outstanding, beginning of period | 653 | $ | 56.14 | 928 | $ | 54.16 | 1,115 | $ | 45.72 | |||||||||||||||
Granted | 9 | $ | 138.57 | 13 | $ | 101.81 | 244 | $ | 60.48 | |||||||||||||||
Vested | (231 | ) | $ | 57.35 | (280 | ) | $ | 51.62 | (370 | ) | $ | 36.02 | ||||||||||||
Canceled | — | $ | — | (8 | ) | $ | 56.5 | (61 | ) | $ | 35.25 | |||||||||||||
Outstanding, end of period | 431 | $ | 57.24 | 653 | $ | 56.14 | 928 | $ | 54.16 | |||||||||||||||
A summary of the activity for the Company’s restricted stock units for the years ended December 31, 2014, 2013 and 2012, is as follows (amounts in thousands, except per share data): | ||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Shares | Weighted Average Grant Price | Shares | Weighted Average Grant Price | Shares | Weighted Average Grant Price | |||||||||||||||||||
Outstanding, beginning of period | 288 | $ | 74.73 | 327 | $ | 61.79 | 273 | $ | 54.86 | |||||||||||||||
Granted | 153 | $ | 136.54 | 73 | $ | 109.96 | 142 | $ | 71.33 | |||||||||||||||
Vested | (104 | ) | $ | 70.23 | (88 | ) | $ | 61.17 | (52 | ) | $ | 56.59 | ||||||||||||
Canceled | (12 | ) | $ | 112.53 | (24 | ) | $ | 55.28 | (36 | ) | $ | 54.47 | ||||||||||||
Outstanding, end of period | 325 | $ | 104.01 | 288 | $ | 74.73 | 327 | $ | 61.79 | |||||||||||||||
Income_Taxes_Notes
Income Taxes (Notes) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||||
Income Taxes | Income Taxes | |||||||||||||
All of Charter’s operations are held through Charter Holdco and its direct and indirect subsidiaries. Charter Holdco and the majority of its subsidiaries are generally limited liability companies that are not subject to income tax. However, certain of these limited liability companies are subject to state income tax. In addition, the indirect subsidiaries that are corporations are subject to federal and state income tax. All of the remaining taxable income, gains, losses, deductions and credits of Charter Holdco are passed through to Charter and its direct subsidiaries. | ||||||||||||||
For the years ended December 31, 2014, 2013, and 2012, the Company recorded deferred income tax expense and benefits as shown below. Income tax expense is recognized primarily through increases in deferred tax liabilities related to the Company's investment in Charter Holdco, as well as through current federal and state income tax expense and increases in the deferred tax liabilities of certain of its indirect corporate subsidiaries. Income tax benefits are realized through reductions in the deferred tax liabilities related to Charter’s investment in Charter Holdco, as well as the deferred tax liabilities of certain of Charter’s indirect corporate subsidiaries. The tax provision in future periods will vary based on current and future temporary differences, as well as future operating results. | ||||||||||||||
Current and deferred income tax expense is as follows: | ||||||||||||||
Year Ended December 31, | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Current expense: | ||||||||||||||
Federal income taxes | $ | (1 | ) | $ | (1 | ) | $ | — | ||||||
State income taxes | (2 | ) | (7 | ) | (7 | ) | ||||||||
Current income tax expense | (3 | ) | (8 | ) | (7 | ) | ||||||||
Deferred expense: | ||||||||||||||
Federal income taxes | (192 | ) | (101 | ) | (223 | ) | ||||||||
State income taxes | (41 | ) | (11 | ) | (27 | ) | ||||||||
Deferred income tax expense | (233 | ) | (112 | ) | (250 | ) | ||||||||
Total income tax expense | $ | (236 | ) | $ | (120 | ) | $ | (257 | ) | |||||
Income tax expense for the year ended December 31, 2013 decreased compared to the corresponding prior period, primarily as a result of step-ups in basis of indefinite-lived assets for tax, but not GAAP purposes, including the effects of partnership gains related to financing transactions and a partnership restructuring, which decreased the Company's net deferred tax liability related to indefinite-lived assets by $137 million. | ||||||||||||||
Of the $137 million decrease in net deferred tax liability, $101 million of deferred tax benefits correspond to gains recognized by corporate subsidiaries of Charter, which are partners in Charter Holdco, and resulted primarily from the repayment of Charter Operating credit facility debt with proceeds from the CCO Holdings notes issued in March 2013. The repayment of Charter Operating credit facility debt, which is not guaranteed by Charter, with proceeds from the notes, which are guaranteed by Charter, had the effect of reducing the amount of debt allocable to the non-guarantor corporate subsidiaries of Charter. For partnership tax purposes, the reduction in the amount of non-guaranteed debt available to allocate to these corporate subsidiaries caused them to recognize gains due to limited basis in their partnership interests in Charter Holdco. These gains result in a step-up in the underlying tax basis of Charter Holdco's assets and a corresponding reduction in the deferred tax liabilities for financial reporting purposes. In addition, on December 31, 2013, Charter restructured one of its tax partnerships which resulted in a $405 million net step-up to primarily intangible assets and a deferred income tax benefit of $36 million due to a shift in step-ups to indefinite-lived intangibles. The tax provision in future periods will vary based on various factors including changes in the Company's deferred tax liabilities attributable to indefinite-lived intangibles, as well as future operating results, however the Company does not anticipate having such a large reduction in tax expense attributable to these items unless it enters into similar future financing or restructuring transactions. The ultimate impact on the tax provision of such future financing and restructuring activities, if any, will be dependent on the underlying facts and circumstances at the time. | ||||||||||||||
The Company’s effective tax rate differs from that derived by applying the applicable federal income tax rate of 35% for the years ended December 31, 2014, 2013, and 2012, respectively, as follows: | ||||||||||||||
Year Ended December 31, | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Statutory federal income taxes | $ | (18 | ) | $ | 17 | $ | 17 | |||||||
Statutory state income taxes, net | (2 | ) | (7 | ) | (7 | ) | ||||||||
Nondeductible expenses | (10 | ) | (3 | ) | (6 | ) | ||||||||
Change in valuation allowance | (203 | ) | (127 | ) | (264 | ) | ||||||||
State rate changes | (3 | ) | 4 | — | ||||||||||
Other | — | (4 | ) | 3 | ||||||||||
Income tax expense | $ | (236 | ) | $ | (120 | ) | $ | (257 | ) | |||||
For the year ended December 31, 2012 , the change in valuation allowance includes an increase of $4 million related to adjustments to cash flow hedges included in other comprehensive loss. In addition, the change in the valuation allowance above for the year ended December 31, 2014 differs from the change between the beginning and ending deferred tax position due to a reduction of certain deferred tax assets and valuation allowance with no impact to the consolidated statements of operations. | ||||||||||||||
The tax effects of these temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2014 and 2013 are presented below. | ||||||||||||||
December 31, | ||||||||||||||
2014 | 2013 | |||||||||||||
Deferred tax assets: | ||||||||||||||
Goodwill | $ | 251 | $ | 274 | ||||||||||
Investment in partnership | 293 | 289 | ||||||||||||
Loss carryforwards | 3,595 | 3,170 | ||||||||||||
Other intangibles | 112 | 48 | ||||||||||||
Accrued and other | 172 | 112 | ||||||||||||
Total gross deferred tax assets | 4,423 | 3,893 | ||||||||||||
Less: valuation allowance | (3,149 | ) | (2,961 | ) | ||||||||||
Deferred tax assets | $ | 1,274 | $ | 932 | ||||||||||
Deferred tax liabilities: | ||||||||||||||
Indefinite life intangibles | $ | (1,428 | ) | $ | (1,205 | ) | ||||||||
Property, plant and equipment | (1,247 | ) | (901 | ) | ||||||||||
Indirect corporate subsidiaries: | ||||||||||||||
Indefinite life intangibles | (122 | ) | (122 | ) | ||||||||||
Other | (125 | ) | (119 | ) | ||||||||||
Deferred tax liabilities | (2,922 | ) | (2,347 | ) | ||||||||||
Net deferred tax liabilities | $ | (1,648 | ) | $ | (1,415 | ) | ||||||||
Included in net deferred tax liabilities above is net current deferred tax assets of $26 million and $16 million as of December 31, 2014 and 2013, respectively, included in prepaid expenses and other current assets in the accompanying consolidated balance sheets of the Company. Net deferred tax liabilities included approximately $236 million and $226 million at December 31, 2014 and 2013, respectively, relating to certain indirect subsidiaries of Charter Holdco that file separate federal or state income tax returns. The remainder of the Company's net deferred tax liability arose from Charter's investment in Charter Holdco, and was largely attributable to the characterization of franchises for financial reporting purposes as indefinite-lived. | ||||||||||||||
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. Due to the Company’s history of losses and the limitations imposed under Section 382 of the Internal Revenue Code, discussed below, on Charter’s ability to use existing loss carryforwards in the future, valuation allowances have been established except for future taxable income that will result from the reversal of existing temporary differences for which deferred tax liabilities are recognized. Realization of deferred tax assets is dependent on generating sufficient taxable income prior to expiration of the loss carryforwards. The amount of the deferred tax assets considered realizable and, therefore, reflected in the consolidated balance sheet, would be increased at such time that it is more-likely-than-not future taxable income will be realized during the carryforward period. The Company periodically evaluates the facts and circumstances surrounding this assessment and, at the time this consideration is met, an adjustment to reverse some portion of the existing valuation allowance would result. | ||||||||||||||
As of December 31, 2014, Charter and its indirect corporate subsidiaries had approximately $9.5 billion of federal tax net operating loss carryforwards resulting in a gross deferred tax asset of approximately $3.3 billion. Federal tax net operating loss carryforwards expire in the years 2020 through 2034. These losses resulted from the operations of Charter Holdco and its subsidiaries. In addition, as of December 31, 2014, Charter and its indirect corporate subsidiaries had state tax net operating loss carryforwards, resulting in a gross deferred tax asset (net of federal tax benefit) of approximately $321 million. State tax net operating loss carryforwards generally expire in the years 2015 through 2034. Included in the loss carryforwards is $129 million of loss, the tax benefit of which will be recorded through equity when realized as a reduction of income tax payable. | ||||||||||||||
On May 1, 2013, Liberty Media Corporation (“Liberty Media”) completed its purchase of a 27% beneficial interest in Charter (see Note 17). Upon closing, Charter experienced a second “ownership change” as defined in Section 382 of the Internal Revenue Code resulting in a second set of limitations on Charter’s use of its existing federal and state net operating losses, capital losses, and tax credit carryforwards. The first ownership change limitations that applied as a result of our emergence from bankruptcy in 2009 will also continue to apply. As of December 31, 2014, $5.3 billion of federal tax loss carryforwards are unrestricted and available for Charter’s immediate use, while approximately $4.2 billion of federal tax loss carryforwards are still subject to Section 382 and other restrictions. Pursuant to these restrictions, Charter estimates that approximately $2.0 billion and $400 million in the years 2015 and 2016, respectively, and an additional $226 million annually over each of the next eight years of federal tax loss carryforwards should become unrestricted and available for Charter's use. Since the limitation amounts accumulate for future use to the extent they are not utilized in any given year, Charter believes its loss carryforwards should become fully available to offset future taxable income, if any. Charter’s state loss carryforwards and indirect corporate subsidiaries’ loss carryforwards are subject to similar, but varying limitations on their future use. If the Company was to experience another “ownership change” in the future, its ability to use its loss carryforwards could be subject to further limitations. | ||||||||||||||
In determining the Company’s tax provision for financial reporting purposes, the Company establishes a reserve for uncertain tax positions unless such positions are determined to be “more likely than not” of being sustained upon examination, based on their technical merits. There is considerable judgment involved in determining whether positions taken on the tax return are “more likely than not” of being sustained. The Company did not have any unrecognized tax benefits as of December 31, 2014 and 2013. | ||||||||||||||
No tax years for Charter or Charter Holdco, for income tax purposes, are currently under examination by the IRS. Tax years ending 2011 through 2013 remain subject to examination and assessment. Years prior to 2011 remain open solely for purposes of examination of Charter’s loss and credit carryforwards. |
Related_Party_Transactions_Not
Related Party Transactions (Notes) | 12 Months Ended |
Dec. 31, 2014 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions |
The following sets forth certain transactions in which the Company and the directors, executive officers, and affiliates of the Company are involved or, in the case of the management arrangements, subsidiaries that are debt issuers that pay certain of their parent companies for services. | |
Charter is a party to management arrangements with Charter Holdco and certain of its subsidiaries. Under these agreements, Charter and Charter Holdco provide management services for the cable systems owned or operated by their subsidiaries. Costs associated with providing these services are charged directly to the Company’s operating subsidiaries and are included within operating costs and expenses in the accompanying consolidated statements of operations. Such costs totaled $346 million, $305 million, and $247 million for the years ended December 31, 2014, 2013, and 2012, respectively. All other costs incurred on behalf of Charter’s operating subsidiaries are considered a part of the management fee and are recorded as a component of operating costs and expenses, in the accompanying consolidated financial statements. The management fee charged to the Company’s operating subsidiaries approximated the expenses incurred by Charter Holdco and Charter on behalf of the Company’s operating subsidiaries in 2014, 2013, and 2012. | |
Liberty Broadband | |
On May 1, 2013, Liberty Media completed its purchase from investment funds managed by, or affiliated with, Apollo Global Management, LLC ("Apollo"), Oaktree Capital Management, L.P. ("Oaktree") and Crestview Partners ("Crestview") of approximately 26.9 million shares and warrants to purchase approximately 1.1 million shares in Charter for approximately $2.6 billion (the "Liberty Transaction"), which represented, at the time, a price per share of $95.50 and an approximate 27% beneficial ownership in Charter. | |
In connection with the Liberty Transaction, Charter entered into a stockholders agreement with Liberty Media (as amended, the “Stockholders Agreement”). Pursuant to the Stockholders Agreement, at the closing of the Liberty Transaction on May 1, 2013, Charter’s board of directors appointed four designees of Liberty Media to the Charter board of directors: John C. Malone, Chairman of the Board of Liberty Media, Gregory B. Maffei, President and Chief Executive Officer of Liberty Media, Balan Nair, Executive Vice President and Chief Technology Officer of Liberty Global, Plc. and Michael P. Huseby, then the Chief Financial Officer, and currently the Chief Executive Officer, of Barnes & Noble, Inc. In connection with the distribution of all of the capital stock of Liberty Broadband Corporation (“Liberty Broadband”) to stockholders of Liberty Media in a spin off transaction that was completed in November 2014 and also in connection with the consummation of the previously announced reorganization of Charter in connection with the Transactions (the “Reorganization”), on September 29, 2014 Liberty Media, Liberty Broadband and Charter entered into an amendment to the Stockholders Agreement. Pursuant to that amendment, Liberty Media assigned all of its rights and obligations under the Stockholders Agreement to Liberty Broadband, Liberty Broadband assumed such rights and agreed to perform all such obligations and Charter consented to such assignment and assumption. As a result, Liberty Broadband was substituted for Liberty Media for all purposes under the Stockholders Agreement. Liberty Broadband also acknowledged and agreed that the four designees of Liberty Media serving on Charter’s board of directors would continue in such capacity as designees of Liberty Broadband. The amendment also provides that, effective upon the consummation of the Reorganization, Charter will assign all of its rights, liabilities and obligations under the stockholders agreement to the reorganized Charter and the reorganized Charter will assume all of Charter’s liabilities and obligations under the Stockholders agreement. | |
Subject to Liberty Broadband’s continued ownership of 20% or more of the outstanding shares of Class A common stock of Charter, the Stockholders Agreement provides that Liberty Broadband will be entitled to designate up to four persons as nominees for election to Charter’s board of directors at least until January 2016 and that one such designee director (as specified by Liberty Broadband) will serve on each of the Audit Committee, the Nominating and Corporate Governance Committee, and the Compensation and Benefits Committee of Charter’s board of directors. Consistent with these provisions, Mr. Malone serves on the Nominating and Corporate Governance Committee, Mr. Maffei serves on the Finance Committee and the Compensation and Benefits Committee and Mr. Huseby serves on the Audit Committee. Liberty Broadband has agreed that, so long as its designees are included in the group recommended by the Nominating and Corporate Governance Committee, it will vote its shares of Class A common stock in accordance with the recommendation of the Nominating and Corporate Governance Committee of the board of directors with respect to the election or removal of directors. Charter can elect, by notice to Liberty Broadband in early January 2016, to terminate the obligation to nominate Liberty Broadband’s designees to the board and, in such event, the standstill provisions noted below will also terminate. Beginning in 2017, Liberty Broadband and Charter will each have an annual right to terminate the board nomination and standstill obligations by delivering notice to the other party of such termination in early January of such year. Subject to certain limited exceptions, Liberty Broadband agreed that it will not, directly or indirectly; acquire voting securities of Charter in excess of 35% prior to the fifth business day of January 2016 and thereafter in excess of 39.99% of the outstanding voting securities of Charter. Liberty Broadband is also subject to certain customary standstill provisions that prohibit it from, among other things, engaging in any solicitation of proxies or consents relating to the election of directors, proposing a matter for submission to a vote of shareholders of Charter or calling a meeting of shareholders of Charter or taking any action or making any public statement not approved by the board of directors to seek to control or influence the management, the board of directors or the policies of Charter. The standstill limitations described above will cease to apply to Liberty Broadband beginning in January 2016 if Charter elects to terminate its obligation to nominate Liberty Broadband’s designees for election at the 2016 annual meeting of stockholders, as described above. In addition, the standstill limitations will cease to apply once Liberty Broadband owns less than 5% of the outstanding Class A common stock and upon termination by either party in 2017 and thereafter as described above. | |
The Company is aware that Dr. Malone may be deemed to have a 36.0% voting interest in Liberty Interactive Corp. (“Liberty Interactive”) and is Chairman of the board of directors, an executive officer position, of Liberty Interactive. Liberty Interactive owns 37.6% of the common stock of HSN, Inc. (“HSN”) and has the right to elect 20% of the board members of HSN. Liberty Interactive wholly owns QVC, Inc (“QVC”). The Company has programming relationships with HSN and QVC which pre-date the Liberty Media Transaction. For the year ended December 31, 2014 and nine months ended December 31, 2013, the Company recorded payments in aggregate of approximately $14 million and $10 million, respectively, from HSN and QVC as part of channel carriage fees and revenue sharing arrangements for home shopping sales made to customers in Charter's footprint. | |
Dr. Malone also serves on the board of directors of Discovery Communications, Inc., (“Discovery”) and the Company is aware that Dr. Malone owns 4.5% in the aggregate of the common stock of Discovery and has a 28.9% voting interest in Discovery for the election of directors. In addition, Dr. Malone owns 10.1% in the aggregate of the common stock of Starz and has 45.5% of the voting power. Mr. Maffei is a non-executive Chairman of the board of Starz. The Company purchases programming from both Discovery and Starz pursuant to agreements entered into prior to the Liberty Media Transaction and Dr. Malone and Mr. Maffei joining Charter's board of directors. Based on publicly available information, the Company does not believe that either Discovery or Starz would currently be considered related parties. The amounts paid in aggregate to Discovery and Starz represent less than 3% of total operating costs and expenses for the year ended December 31, 2014 and nine months ended December 31, 2013. |
Commitments_and_Contingencies_
Commitments and Contingencies (Notes) | 12 Months Ended | |||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||
Commitments and Contingencies | Commitments and Contingencies | |||||||||||||||||||||||||||||
Commitments | ||||||||||||||||||||||||||||||
The following table summarizes the Company’s payment obligations as of December 31, 2014 for its contractual obligations. | ||||||||||||||||||||||||||||||
Total | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | ||||||||||||||||||||||||
Contractual Obligations | ||||||||||||||||||||||||||||||
Capital and Operating Lease Obligations (1) | $ | 169 | $ | 43 | $ | 39 | $ | 35 | $ | 25 | 16 | $ | 11 | |||||||||||||||||
Programming Minimum Commitments (2) | 795 | 271 | 256 | 235 | 9 | 10 | 14 | |||||||||||||||||||||||
Other (3) | 319 | 291 | 16 | 9 | 3 | — | — | |||||||||||||||||||||||
Total | $ | 1,283 | $ | 605 | $ | 311 | $ | 279 | $ | 37 | $ | 26 | $ | 25 | ||||||||||||||||
(1) The Company leases certain facilities and equipment under non-cancelable operating leases. Leases and rental costs charged to expense for the years ended December 31, 2014, 2013 and 2012 were $43 million, $34 million, $28 million, respectively. | ||||||||||||||||||||||||||||||
(2) The Company pays programming fees under multi-year contracts ranging from three to ten years, typically based on a flat fee per customer, which may be fixed for the term, or may in some cases escalate over the term. Programming costs included in the accompanying statement of operations were $2.5 billion, $2.1 billion and $2.0 billion for the years ended December 31, 2014, 2013, and 2012 respectively. Certain of the Company’s programming agreements are based on a flat fee per month or have guaranteed minimum payments. The table sets forth the aggregate guaranteed minimum commitments under the Company’s programming contracts. | ||||||||||||||||||||||||||||||
(3) “Other” represents other guaranteed minimum commitments, which consist primarily of commitments to the Company's customer premise equipment vendors. | ||||||||||||||||||||||||||||||
The following items are not included in the contractual obligation table due to various factors discussed below. However, the Company incurs these costs as part of its operations: | ||||||||||||||||||||||||||||||
• | The Company rents utility poles used in its operations. Generally, pole rentals are cancelable on short notice, but the Company anticipates that such rentals will recur. Rent expense incurred for pole rental attachments for the years ended December 31, 2014, 2013, and 2012 was $49 million, $49 million, and $47 million, respectively. | |||||||||||||||||||||||||||||
• | The Company pays franchise fees under multi-year franchise agreements based on a percentage of revenues generated from video service per year. The Company also pays other franchise related costs, such as public education grants, under multi-year agreements. Franchise fees and other franchise-related costs included in the accompanying statement of operations were $208 million, $190 million, and $176 million for the years ended December 31, 2014, 2013, and 2012 respectively. | |||||||||||||||||||||||||||||
• | The Company also has $85 million in letters of credit, primarily to its various worker’s compensation, property and casualty, and general liability carriers, as collateral for reimbursement of claims. | |||||||||||||||||||||||||||||
Litigation | ||||||||||||||||||||||||||||||
The Montana Department of Revenue ("Montana DOR") generally assesses property taxes on cable companies at 3% and on telephone companies at 6%. Historically, Bresnan's cable and telephone operations have been taxed separately by the Montana DOR. In 2010, the Montana DOR assessed Bresnan as a single telephone business and retroactively assessed it as such for 2007 through 2009. Bresnan filed a declaratory judgment action against the Montana DOR in Montana State Court challenging its property tax classifications for 2007 through 2010. The Montana State Court issued decisions in favor of Bresnan. The Montana DOR filed a notice of appeal to the Montana Supreme Court on September 20, 2012. On December 2, 2013, the Montana Supreme Court reversed the trial court’s decision. On June 19, 2014, the parties settled this dispute. For tax years 2007 through 2009, Charter reduced Bresnan acquisition liabilities by approximately $8 million with the offset to goodwill, and operating expenses were reduced by approximately $3 million for post-acquisition tax years. | ||||||||||||||||||||||||||||||
The Company is a defendant or co-defendant in several lawsuits involving alleged infringement of various patents relating to various aspects of its businesses. Other industry participants are also defendants in certain of these cases. In the event that a court ultimately determines that the Company infringes on any intellectual property rights, the Company may be subject to substantial damages and/or an injunction that could require the Company or its vendors to modify certain products and services the Company offers to its subscribers, as well as negotiate royalty or license agreements with respect to the patents at issue. While the Company believes the lawsuits are without merit and intends to defend the actions vigorously, no assurance can be given that any adverse outcome would not be material to the Company's consolidated financial condition, results of operations, or liquidity. The Company cannot predict the outcome of any such claims nor can it reasonably estimate a range of possible loss. | ||||||||||||||||||||||||||||||
The Company is party to lawsuits and claims that arise in the ordinary course of conducting its business, including lawsuits claiming violation of wage and hour laws. The ultimate outcome of these other legal matters pending against the Company cannot be predicted, and although such lawsuits and claims are not expected individually to have a material adverse effect on the Company’s consolidated financial condition, results of operations or liquidity, such lawsuits could have, in the aggregate, a material adverse effect on the Company’s consolidated financial condition, results of operations or liquidity. Whether or not the Company ultimately prevails in any particular lawsuit or claim, litigation can be time consuming and costly and injure the Company's reputation. | ||||||||||||||||||||||||||||||
Regulation in the Cable Industry | ||||||||||||||||||||||||||||||
The operation of a cable system is extensively regulated by the Federal Communications Commission (“FCC”), some state governments and most local governments. The FCC has the authority to enforce its regulations through the imposition of substantial fines, the issuance of cease and desist orders and/or the imposition of other administrative sanctions, such as the revocation of FCC licenses needed to operate certain transmission facilities used in connection with cable operations. The Telecommunications Act of 1996 altered the regulatory structure governing the nation’s communications providers. It removed barriers to competition in both the cable television market and the telephone market. Among other things, it reduced the scope of cable rate regulation and encouraged additional competition in the video programming industry by allowing telephone companies to provide video programming in their own telephone service areas. Future legislative and regulatory changes could adversely affect the Company’s operations. |
Employee_Benefit_Plan_Notes
Employee Benefit Plan (Notes) | 12 Months Ended |
Dec. 31, 2014 | |
Compensation and Retirement Disclosure [Abstract] | |
Employee Benefit Plan | Employee Benefit Plan |
The Company’s employees may participate in the Charter Communications, Inc. 401(k) Plan. Employees that qualify for participation can contribute up to 50% of their salary, on a pre-tax basis, subject to a maximum contribution limit as determined by the Internal Revenue Service. Each payroll period, the Company will contribute to the 401(k) Plan the total amount of the salary contribution the employee elects to defer between 1% and 50%. The Company’s matching contribution is discretionary and is 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 is paid by the Company on a per pay period basis. The Company made contributions to the 401(k) plan totaling $19 million, $16 million and $8 million for the years ended December 31, 2014, 2013 and 2012, respectively. |
Recenlty_Issued_Accounting_Sta
Recenlty Issued Accounting Standards (Notes) | 12 Months Ended |
Dec. 31, 2014 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recently Issued Accounting Standards | Recently Issued Accounting Standards |
In April 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-08, Presentation of Financial Statements and Property, Plant, and Equipment: Reporting Discontinued Operations and Disclosures of Disposals of components of an Entity ("ASU 2014-08"). ASU 2014-08 changes the criteria for reporting a discontinued operation. Under the new guidance, a disposed component of an organization that represents a strategic shift that has (or will have) a major effect on its operations and financial results is a discontinued operation. For disposals of individually significant components that do not qualify for discontinued operations presentation, an entity must disclose pre-tax profit or loss of the disposed component. ASU 2014-08 requires prospective application to all disposals that are classified as held for sale and that occur within annual and interim periods beginning on or after December 15, 2014, with earlier application permitted for disposals that have not been reported in previously issued financial statements. The Company adopted ASU 2014-08 on January 1, 2015. The adoption of ASU 2014-8 did not have a material impact on its consolidated financial statements. | |
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The effective date of ASU 2014-09 is fiscal years beginning after December 15, 2016, and interim periods within those years, with earlier adoption prohibited. Companies can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. The Company has not yet selected a transition method nor has it determined the effect of ASU 2014-09 to its consolidated financial statements. |
Unaudited_Quarterly_Financial_
Unaudited Quarterly Financial Data (Notes) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Unaudited Quarterly Financial Data | Unaudited Quarterly Financial Data | ||||||||||||||||
The following table presents quarterly data for the periods presented on the consolidated statement of operations: | |||||||||||||||||
Year Ended December 31, 2014 | |||||||||||||||||
First | Second Quarter | Third | Fourth Quarter | ||||||||||||||
Quarter | Quarter | ||||||||||||||||
Revenues | $ | 2,202 | $ | 2,259 | $ | 2,287 | $ | 2,360 | |||||||||
Income from operations | $ | 240 | $ | 236 | $ | 218 | $ | 277 | |||||||||
Net loss | $ | (37 | ) | $ | (45 | ) | $ | (53 | ) | $ | (48 | ) | |||||
Loss per common share, basic and diluted | $ | (0.35 | ) | $ | (0.42 | ) | $ | (0.49 | ) | $ | (0.44 | ) | |||||
Weighted average common shares | 106,439,198 | 107,975,937 | 108,792,605 | 110,242,507 | |||||||||||||
outstanding, basic and diluted | |||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||
First | Second Quarter | Third | Fourth Quarter | ||||||||||||||
Quarter | Quarter | ||||||||||||||||
Revenues | $ | 1,917 | $ | 1,972 | $ | 2,118 | $ | 2,148 | |||||||||
Income from operations | $ | 222 | $ | 234 | $ | 209 | $ | 244 | |||||||||
Net income (loss) | $ | (42 | ) | $ | (96 | ) | $ | (70 | ) | $ | 39 | ||||||
Loss per common share: | |||||||||||||||||
Basic | $ | (0.42 | ) | $ | (0.96 | ) | $ | (0.68 | ) | $ | 0.38 | ||||||
Diluted | (0.42 | ) | (0.96 | ) | (0.68 | ) | 0.35 | ||||||||||
Weighted average common shares outstanding: | |||||||||||||||||
Basic | 100,327,418 | 100,600,678 | 102,924,443 | 103,836,535 | |||||||||||||
Diluted | 100,327,418 | 100,600,678 | 102,924,443 | 111,415,982 | |||||||||||||
Consolidating_Schedules_Notes
Consolidating Schedules (Notes) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ||||||||||||||||||||||||||||||||
Consolidating Schedules | Consolidating Schedules | |||||||||||||||||||||||||||||||
The CCOH Safari notes are obligations of CCOH Safari. However, substantially concurrently with the release of the proceeds to fund a portion of the purchase of certain assets pursuant to the Transactions, the CCOH Safari notes will become obligations of CCO Holdings and CCO Holdings Capital Corp. and CCOH Safari will merge into CCO Holdings. The CCO Holdings notes are obligations of CCO Holdings. See Notes 3 and 8. However, the CCO Holdings notes and CCOH Safari notes are also jointly, severally, fully and unconditionally guaranteed on an unsecured senior basis by Charter. The Charter Operating and Restricted Subsidiaries column is presented as a requirement pursuant to the terms of the Charter Operating credit agreement. The Unrestricted Subsidiary - CCO Safari column is a Non-Recourse Subsidiary under the Charter Operating credit agreement. In September 2014, Charter Operating entered into a term loan G facility and assigned all of its obligations with respect to the term loan G and transferred all of the proceeds from the term loan G to CCO Safari. See Note 8. | ||||||||||||||||||||||||||||||||
The accompanying condensed consolidating financial information has been prepared and presented pursuant to SEC Regulation S-X Rule 3-10, Financial Statements of Guarantors and Affiliates Whose Securities Collateralize an Issue Registered or Being Registered. This information is not intended to present the financial position, results of operations and cash flows of the individual companies or groups of companies in accordance with generally accepted accounting principles. | ||||||||||||||||||||||||||||||||
Condensed consolidating financial statements as of December 31, 2014 and 2013 and for the years ended December 31, 2014, 2013 and 2012 follow. | ||||||||||||||||||||||||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||
CURRENT ASSETS: | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3 | ||||||||||||||||
Accounts receivable, net | 4 | 6 | — | — | 275 | — | — | 285 | ||||||||||||||||||||||||
Receivables from related party | 55 | 221 | — | 11 | — | — | (287 | ) | — | |||||||||||||||||||||||
Prepaid expenses and other current assets | 23 | 10 | — | — | 50 | — | — | 83 | ||||||||||||||||||||||||
Total current assets | 85 | 237 | — | 11 | 325 | — | (287 | ) | 371 | |||||||||||||||||||||||
RESTRICTED CASH AND CASH EQUIVALENTS | — | — | 3,597 | — | — | 3,514 | — | 7,111 | ||||||||||||||||||||||||
INVESTMENT IN CABLE PROPERTIES: | ||||||||||||||||||||||||||||||||
Property, plant and equipment, net | — | 29 | — | — | 8,344 | — | — | 8,373 | ||||||||||||||||||||||||
Franchises | — | — | — | — | 6,006 | — | — | 6,006 | ||||||||||||||||||||||||
Customer relationships, net | — | — | — | — | 1,105 | — | — | 1,105 | ||||||||||||||||||||||||
Goodwill | — | — | — | — | 1,168 | — | — | 1,168 | ||||||||||||||||||||||||
Total investment in cable properties, net | — | 29 | — | — | 16,623 | — | — | 16,652 | ||||||||||||||||||||||||
CC VIII PREFERRED INTEREST | — | 436 | — | — | — | — | (436 | ) | — | |||||||||||||||||||||||
INVESTMENT IN SUBSIDIARIES | 1,509 | 482 | — | 10,331 | 27 | — | (12,349 | ) | — | |||||||||||||||||||||||
LOANS RECEIVABLE – RELATED PARTY | — | 326 | — | 584 | — | — | (910 | ) | — | |||||||||||||||||||||||
OTHER NONCURRENT ASSETS | — | 166 | 3 | 104 | 139 | 4 | — | 416 | ||||||||||||||||||||||||
Total assets | $ | 1,594 | $ | 1,676 | $ | 3,600 | $ | 11,030 | $ | 17,114 | $ | 3,518 | $ | (13,982 | ) | $ | 24,550 | |||||||||||||||
LIABILITIES AND SHAREHOLDERS’/MEMBER’S EQUITY | ||||||||||||||||||||||||||||||||
CURRENT LIABILITIES: | ||||||||||||||||||||||||||||||||
Accounts payable and accrued liabilities | $ | 11 | $ | 152 | $ | 18 | $ | 187 | $ | 1,259 | $ | 8 | $ | — | $ | 1,635 | ||||||||||||||||
Payables to related party | — | — | — | — | 287 | — | (287 | ) | — | |||||||||||||||||||||||
Total current liabilities | 11 | 152 | 18 | 187 | 1,546 | 8 | (287 | ) | 1,635 | |||||||||||||||||||||||
LONG-TERM DEBT | — | — | 3,500 | 10,331 | 3,709 | 3,483 | — | 21,023 | ||||||||||||||||||||||||
LOANS PAYABLE – RELATED PARTY | — | — | 112 | — | 798 | — | (910 | ) | — | |||||||||||||||||||||||
DEFERRED INCOME TAXES | 1,437 | — | — | — | 237 | — | — | 1,674 | ||||||||||||||||||||||||
OTHER LONG-TERM LIABILITIES | — | 15 | — | — | 57 | — | — | 72 | ||||||||||||||||||||||||
Shareholders’/Member’s equity | 146 | 1,509 | (30 | ) | 512 | 10,331 | 27 | (12,349 | ) | 146 | ||||||||||||||||||||||
Non-controlling interest | — | — | — | — | 436 | — | (436 | ) | — | |||||||||||||||||||||||
Total shareholders’/member’s equity | 146 | 1,509 | (30 | ) | 512 | 10,767 | 27 | (12,785 | ) | 146 | ||||||||||||||||||||||
Total liabilities and shareholders’/member’s equity | $ | 1,594 | $ | 1,676 | $ | 3,600 | $ | 11,030 | $ | 17,114 | $ | 3,518 | $ | (13,982 | ) | $ | 24,550 | |||||||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||
CURRENT ASSETS: | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 5 | $ | — | $ | — | $ | 16 | $ | — | $ | — | $ | 21 | ||||||||||||||||
Accounts receivable, net | 4 | 4 | — | — | 226 | — | — | 234 | ||||||||||||||||||||||||
Receivables from related party | 54 | 170 | — | 11 | — | — | (235 | ) | — | |||||||||||||||||||||||
Prepaid expenses and other current assets | 14 | 10 | — | — | 43 | — | — | 67 | ||||||||||||||||||||||||
Total current assets | 72 | 189 | — | 11 | 285 | — | (235 | ) | 322 | |||||||||||||||||||||||
INVESTMENT IN CABLE PROPERTIES: | ||||||||||||||||||||||||||||||||
Property, plant and equipment, net | — | 30 | — | — | 7,951 | — | — | 7,981 | ||||||||||||||||||||||||
Franchises | — | — | — | — | 6,009 | — | — | 6,009 | ||||||||||||||||||||||||
Customer relationships, net | — | — | — | — | 1,389 | — | — | 1,389 | ||||||||||||||||||||||||
Goodwill | — | — | — | — | 1,177 | — | — | 1,177 | ||||||||||||||||||||||||
Total investment in cable properties, net | — | 30 | — | — | 16,526 | — | — | 16,556 | ||||||||||||||||||||||||
CC VIII PREFERRED INTEREST | — | 392 | — | — | — | — | (392 | ) | — | |||||||||||||||||||||||
INVESTMENT IN SUBSIDIARIES | 1,295 | 325 | — | 10,592 | — | — | (12,212 | ) | — | |||||||||||||||||||||||
LOANS RECEIVABLE – RELATED PARTY | — | 318 | — | 461 | — | — | (779 | ) | — | |||||||||||||||||||||||
OTHER NONCURRENT ASSETS | — | 160 | — | 119 | 138 | — | — | 417 | ||||||||||||||||||||||||
Total assets | $ | 1,367 | $ | 1,414 | $ | — | $ | 11,183 | $ | 16,949 | $ | — | $ | (13,618 | ) | $ | 17,295 | |||||||||||||||
LIABILITIES AND SHAREHOLDERS’/MEMBER’S EQUITY | ||||||||||||||||||||||||||||||||
CURRENT LIABILITIES: | ||||||||||||||||||||||||||||||||
Accounts payable and accrued liabilities | $ | 12 | $ | 113 | $ | — | $ | 187 | $ | 1,155 | $ | — | $ | — | $ | 1,467 | ||||||||||||||||
Payables to related party | — | — | — | — | 235 | — | (235 | ) | — | |||||||||||||||||||||||
Total current liabilities | 12 | 113 | — | 187 | 1,390 | — | (235 | ) | 1,467 | |||||||||||||||||||||||
LONG-TERM DEBT | — | — | — | 10,671 | 3,510 | — | — | 14,181 | ||||||||||||||||||||||||
LOANS PAYABLE – RELATED PARTY | — | — | — | — | 779 | — | (779 | ) | — | |||||||||||||||||||||||
DEFERRED INCOME TAXES | 1,204 | — | — | — | 227 | — | — | 1,431 | ||||||||||||||||||||||||
OTHER LONG-TERM LIABILITIES | — | 6 | — | — | 59 | — | — | 65 | ||||||||||||||||||||||||
Shareholders’/Member’s equity | 151 | 1,295 | — | 325 | 10,592 | — | (12,212 | ) | 151 | |||||||||||||||||||||||
Non-controlling interest | — | — | — | — | 392 | — | (392 | ) | — | |||||||||||||||||||||||
Total shareholders’/member’s equity | 151 | 1,295 | — | 325 | 10,984 | — | (12,604 | ) | 151 | |||||||||||||||||||||||
Total liabilities and shareholders’/member’s equity | $ | 1,367 | $ | 1,414 | $ | — | $ | 11,183 | $ | 16,949 | $ | — | $ | (13,618 | ) | $ | 17,295 | |||||||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2014 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
REVENUES | $ | 22 | $ | 235 | $ | — | $ | — | $ | 9,108 | $ | — | $ | (257 | ) | $ | 9,108 | |||||||||||||||
COSTS AND EXPENSES: | ||||||||||||||||||||||||||||||||
Operating costs and expenses (excluding depreciation and amortization) | 22 | 235 | — | — | 5,973 | — | (257 | ) | 5,973 | |||||||||||||||||||||||
Depreciation and amortization | — | — | — | — | 2,102 | — | — | 2,102 | ||||||||||||||||||||||||
Other operating expenses, net | — | — | — | — | 62 | — | — | 62 | ||||||||||||||||||||||||
22 | 235 | — | — | 8,137 | — | (257 | ) | 8,137 | ||||||||||||||||||||||||
Income from operations | — | — | — | — | 971 | — | — | 971 | ||||||||||||||||||||||||
OTHER INCOME AND (EXPENSES): | ||||||||||||||||||||||||||||||||
Interest expense, net | — | 8 | (30 | ) | (679 | ) | (165 | ) | (45 | ) | — | (911 | ) | |||||||||||||||||||
Loss on derivative instruments, net | — | — | — | — | (7 | ) | — | — | (7 | ) | ||||||||||||||||||||||
Equity in income (loss) of subsidiaries | 40 | (12 | ) | — | 697 | (45 | ) | — | (680 | ) | — | |||||||||||||||||||||
40 | (4 | ) | (30 | ) | 18 | (217 | ) | (45 | ) | (680 | ) | (918 | ) | |||||||||||||||||||
Income (loss) before income taxes | 40 | (4 | ) | (30 | ) | 18 | 754 | (45 | ) | (680 | ) | 53 | ||||||||||||||||||||
INCOME TAX EXPENSE | (223 | ) | — | — | — | (13 | ) | — | — | (236 | ) | |||||||||||||||||||||
Consolidated net income (loss) | (183 | ) | (4 | ) | (30 | ) | 18 | 741 | (45 | ) | (680 | ) | (183 | ) | ||||||||||||||||||
Less: Net (income) loss – non-controlling interest | — | 44 | — | — | (44 | ) | — | — | — | |||||||||||||||||||||||
Net income (loss) | $ | (183 | ) | $ | 40 | $ | (30 | ) | $ | 18 | $ | 697 | $ | (45 | ) | $ | (680 | ) | $ | (183 | ) | |||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
REVENUES | $ | 22 | $ | 188 | $ | — | $ | — | $ | 8,155 | $ | — | $ | (210 | ) | $ | 8,155 | |||||||||||||||
COSTS AND EXPENSES: | ||||||||||||||||||||||||||||||||
Operating costs and expenses (excluding depreciation and amortization) | 22 | 188 | — | — | 5,345 | — | (210 | ) | 5,345 | |||||||||||||||||||||||
Depreciation and amortization | — | — | — | — | 1,854 | — | — | 1,854 | ||||||||||||||||||||||||
Other operating expenses, net | — | — | — | — | 47 | — | — | 47 | ||||||||||||||||||||||||
22 | 188 | — | — | 7,246 | — | (210 | ) | 7,246 | ||||||||||||||||||||||||
Income from operations | — | — | — | — | 909 | — | — | 909 | ||||||||||||||||||||||||
OTHER INCOME AND (EXPENSES): | ||||||||||||||||||||||||||||||||
Interest expense, net | — | 8 | — | (681 | ) | (173 | ) | — | — | (846 | ) | |||||||||||||||||||||
Loss on extinguishment of debt | — | — | — | (65 | ) | (58 | ) | — | — | (123 | ) | |||||||||||||||||||||
Gain on derivative instruments, net | — | — | — | — | 11 | — | — | 11 | ||||||||||||||||||||||||
Equity in income (loss) of subsidiaries | (75 | ) | (114 | ) | — | 632 | — | — | (443 | ) | — | |||||||||||||||||||||
(75 | ) | (106 | ) | — | (114 | ) | (220 | ) | — | (443 | ) | (958 | ) | |||||||||||||||||||
Income (loss) before income taxes | (75 | ) | (106 | ) | — | (114 | ) | 689 | — | (443 | ) | (49 | ) | |||||||||||||||||||
INCOME TAX EXPENSE | (108 | ) | (1 | ) | — | — | (11 | ) | — | — | (120 | ) | ||||||||||||||||||||
Consolidated net income (loss) | (183 | ) | (107 | ) | — | (114 | ) | 678 | — | (443 | ) | (169 | ) | |||||||||||||||||||
Less: Net (income) loss – non-controlling interest | 14 | 32 | — | — | (46 | ) | — | — | — | |||||||||||||||||||||||
Net income (loss) | $ | (169 | ) | $ | (75 | ) | $ | — | $ | (114 | ) | $ | 632 | $ | — | $ | (443 | ) | $ | (169 | ) | |||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2012 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
REVENUES | $ | 24 | $ | 159 | $ | — | $ | — | $ | 7,504 | $ | — | $ | (183 | ) | $ | 7,504 | |||||||||||||||
COSTS AND EXPENSES: | ||||||||||||||||||||||||||||||||
Operating costs and expenses (excluding depreciation and amortization) | 24 | 159 | — | — | 4,860 | — | (183 | ) | 4,860 | |||||||||||||||||||||||
Depreciation and amortization | — | — | — | — | 1,713 | — | — | 1,713 | ||||||||||||||||||||||||
Other operating expenses, net | — | — | — | — | 16 | — | — | 16 | ||||||||||||||||||||||||
24 | 159 | — | — | 6,589 | — | (183 | ) | 6,589 | ||||||||||||||||||||||||
Income from operations | — | — | — | — | 915 | — | — | 915 | ||||||||||||||||||||||||
OTHER INCOME AND (EXPENSES): | ||||||||||||||||||||||||||||||||
Interest expense, net | — | (103 | ) | — | (541 | ) | (263 | ) | — | — | (907 | ) | ||||||||||||||||||||
Gain (loss) on extinguishment of debt | — | 46 | — | — | (101 | ) | — | — | (55 | ) | ||||||||||||||||||||||
Equity in income (loss) of subsidiaries | (63 | ) | (35 | ) | — | 506 | — | — | (408 | ) | — | |||||||||||||||||||||
(63 | ) | (92 | ) | — | (35 | ) | (364 | ) | — | (408 | ) | (962 | ) | |||||||||||||||||||
Income (loss) before income taxes | (63 | ) | (92 | ) | — | (35 | ) | 551 | — | (408 | ) | (47 | ) | |||||||||||||||||||
INCOME TAX EXPENSE | (254 | ) | — | — | — | (3 | ) | — | — | (257 | ) | |||||||||||||||||||||
Consolidated net income (loss) | (317 | ) | (92 | ) | — | (35 | ) | 548 | — | (408 | ) | (304 | ) | |||||||||||||||||||
Less: Net (income) loss – non-controlling interest | 13 | 29 | — | — | (42 | ) | — | — | — | |||||||||||||||||||||||
Net income (loss) | $ | (304 | ) | $ | (63 | ) | $ | — | $ | (35 | ) | $ | 506 | $ | — | $ | (408 | ) | $ | (304 | ) | |||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2014 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
Consolidated net income (loss) | $ | (183 | ) | $ | (4 | ) | $ | (30 | ) | $ | 18 | $ | 741 | $ | (45 | ) | $ | (680 | ) | $ | (183 | ) | ||||||||||
Net impact of interest rate derivative instruments, net of tax | — | — | — | — | 19 | — | — | 19 | ||||||||||||||||||||||||
Comprehensive income (loss) | $ | (183 | ) | $ | (4 | ) | $ | (30 | ) | $ | 18 | $ | 760 | $ | (45 | ) | $ | (680 | ) | $ | (164 | ) | ||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
Consolidated net income (loss) | $ | (183 | ) | $ | (107 | ) | $ | — | $ | (114 | ) | $ | 678 | $ | — | $ | (443 | ) | $ | (169 | ) | |||||||||||
Net impact of interest rate derivative instruments, net of tax | — | — | — | — | 34 | — | — | 34 | ||||||||||||||||||||||||
Comprehensive income (loss) | $ | (183 | ) | $ | (107 | ) | $ | — | $ | (114 | ) | $ | 712 | $ | — | $ | (443 | ) | $ | (135 | ) | |||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2012 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
Consolidated net income (loss) | $ | (317 | ) | $ | (92 | ) | $ | — | $ | (35 | ) | $ | 548 | $ | — | $ | (408 | ) | $ | (304 | ) | |||||||||||
Net impact of interest rate derivative instruments, net of tax | — | — | — | — | (10 | ) | — | — | (10 | ) | ||||||||||||||||||||||
Comprehensive income (loss) | $ | (317 | ) | $ | (92 | ) | $ | — | $ | (35 | ) | $ | 538 | $ | — | $ | (408 | ) | $ | (314 | ) | |||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2014 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Consolidated net income (loss) | $ | (183 | ) | $ | (4 | ) | $ | (30 | ) | $ | 18 | $ | 741 | $ | (45 | ) | $ | (680 | ) | $ | (183 | ) | ||||||||||
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||||||||||||||||||||||||||||||||
Depreciation and amortization | — | — | — | — | 2,102 | — | — | 2,102 | ||||||||||||||||||||||||
Noncash interest expense | — | — | — | 25 | 12 | — | — | 37 | ||||||||||||||||||||||||
Loss on derivative instruments, net | — | — | — | — | 7 | — | — | 7 | ||||||||||||||||||||||||
Deferred income taxes | 223 | — | — | — | 10 | — | — | 233 | ||||||||||||||||||||||||
Equity in (income) losses of subsidiaries | (40 | ) | 12 | — | (697 | ) | 45 | — | 680 | — | ||||||||||||||||||||||
Other, net | — | (2 | ) | — | — | 67 | — | — | 65 | |||||||||||||||||||||||
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions: | ||||||||||||||||||||||||||||||||
Accounts receivable | — | (2 | ) | — | — | (49 | ) | — | — | (51 | ) | |||||||||||||||||||||
Prepaid expenses and other assets | — | (1 | ) | — | — | (8 | ) | — | — | (9 | ) | |||||||||||||||||||||
Accounts payable, accrued liabilities and other | — | 41 | 18 | — | 91 | 8 | — | 158 | ||||||||||||||||||||||||
Receivables from and payables to related party | — | (57 | ) | — | (11 | ) | 68 | — | — | — | ||||||||||||||||||||||
Net cash flows from operating activities | — | (13 | ) | (12 | ) | (665 | ) | 3,086 | (37 | ) | — | 2,359 | ||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Purchases of property, plant and equipment | — | — | — | — | (2,221 | ) | — | — | (2,221 | ) | ||||||||||||||||||||||
Change in accrued expenses related to capital expenditures | — | — | — | — | 33 | — | — | 33 | ||||||||||||||||||||||||
Purchases of cable systems, net | — | — | — | — | 11 | — | — | 11 | ||||||||||||||||||||||||
Contribution to subsidiary | (106 | ) | (600 | ) | — | (100 | ) | (71 | ) | — | 877 | — | ||||||||||||||||||||
Distributions from subsidiary | 5 | 30 | — | 1,132 | — | — | (1,167 | ) | — | |||||||||||||||||||||||
Restricted cash in escrow | — | — | (3,598 | ) | — | — | (3,513 | ) | — | (7,111 | ) | |||||||||||||||||||||
Other, net | — | (5 | ) | — | — | (11 | ) | — | — | (16 | ) | |||||||||||||||||||||
Net cash flows from investing activities | (101 | ) | (575 | ) | (3,598 | ) | 1,032 | (2,259 | ) | (3,513 | ) | (290 | ) | (9,304 | ) | |||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Borrowings of long-term debt | — | — | 3,500 | — | 1,823 | 3,483 | — | 8,806 | ||||||||||||||||||||||||
Repayments of long-term debt | — | — | — | (350 | ) | (1,630 | ) | — | — | (1,980 | ) | |||||||||||||||||||||
Borrowings (payments) loans payable - related parties | — | — | 112 | (112 | ) | — | — | — | — | |||||||||||||||||||||||
Payment for debt issuance costs | — | — | (2 | ) | — | — | (4 | ) | — | (6 | ) | |||||||||||||||||||||
Purchase of treasury stock | (19 | ) | — | — | — | — | — | — | (19 | ) | ||||||||||||||||||||||
Proceeds from exercise of options and warrants | 123 | — | — | — | — | — | — | 123 | ||||||||||||||||||||||||
Contributions from parent | — | 606 | — | 100 | 100 | 71 | (877 | ) | — | |||||||||||||||||||||||
Distributions to parent | — | (30 | ) | — | (5 | ) | (1,132 | ) | — | 1,167 | — | |||||||||||||||||||||
Other, net | — | 7 | — | — | (4 | ) | — | — | 3 | |||||||||||||||||||||||
Net cash flows from financing activities | 104 | 583 | 3,610 | (367 | ) | (843 | ) | 3,550 | 290 | 6,927 | ||||||||||||||||||||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 3 | (5 | ) | — | — | (16 | ) | — | — | (18 | ) | |||||||||||||||||||||
CASH AND CASH EQUIVALENTS, beginning of period | — | 5 | — | — | 16 | — | — | 21 | ||||||||||||||||||||||||
CASH AND CASH EQUIVALENTS, end of period | $ | 3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3 | ||||||||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Consolidated net income (loss) | $ | (183 | ) | $ | (107 | ) | $ | — | $ | (114 | ) | $ | 678 | $ | — | $ | (443 | ) | $ | (169 | ) | |||||||||||
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||||||||||||||||||||||||||||||||
Depreciation and amortization | — | — | — | — | 1,854 | — | — | 1,854 | ||||||||||||||||||||||||
Noncash interest expense | — | — | — | 27 | 16 | — | — | 43 | ||||||||||||||||||||||||
Loss on extinguishment of debt | — | — | — | 65 | 58 | — | — | 123 | ||||||||||||||||||||||||
Gain on derivative instruments, net | — | — | — | — | (11 | ) | — | — | (11 | ) | ||||||||||||||||||||||
Deferred income taxes | 105 | — | — | — | 7 | — | — | 112 | ||||||||||||||||||||||||
Equity in (income) losses of subsidiaries | 75 | 114 | — | (632 | ) | — | — | 443 | — | |||||||||||||||||||||||
Other, net | — | — | — | — | 82 | — | — | 82 | ||||||||||||||||||||||||
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions: | ||||||||||||||||||||||||||||||||
Accounts receivable | (3 | ) | (1 | ) | — | — | 14 | — | — | 10 | ||||||||||||||||||||||
Prepaid expenses and other assets | — | 1 | — | — | (1 | ) | — | — | — | |||||||||||||||||||||||
Accounts payable, accrued liabilities and other | — | (3 | ) | — | 41 | 76 | — | — | 114 | |||||||||||||||||||||||
Receivables from and payables to related party | 5 | (1 | ) | — | (10 | ) | 6 | — | — | — | ||||||||||||||||||||||
Net cash flows from operating activities | (1 | ) | 3 | — | (623 | ) | 2,779 | — | — | 2,158 | ||||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Purchases of property, plant and equipment | — | — | — | — | (1,825 | ) | — | — | (1,825 | ) | ||||||||||||||||||||||
Change in accrued expenses related to capital expenditures | — | — | — | — | 76 | — | — | 76 | ||||||||||||||||||||||||
Purchases of cable systems, net | — | — | — | — | (676 | ) | — | — | (676 | ) | ||||||||||||||||||||||
Contribution to subsidiary | (89 | ) | (534 | ) | — | (1,022 | ) | — | — | 1,645 | — | |||||||||||||||||||||
Distributions from subsidiary | — | 6 | — | 630 | — | — | (636 | ) | — | |||||||||||||||||||||||
Other, net | — | 1 | — | — | (19 | ) | — | — | (18 | ) | ||||||||||||||||||||||
Net cash flows from investing activities | (89 | ) | (527 | ) | — | (392 | ) | (2,444 | ) | — | 1,009 | (2,443 | ) | |||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Borrowings of long-term debt | — | — | — | 2,000 | 4,782 | — | — | 6,782 | ||||||||||||||||||||||||
Repayments of long-term debt | — | — | — | (955 | ) | (5,565 | ) | — | — | (6,520 | ) | |||||||||||||||||||||
Borrowings (payments) loans payable - related parties | — | — | — | (93 | ) | 93 | — | — | — | |||||||||||||||||||||||
Payment for debt issuance costs | — | — | — | (25 | ) | (25 | ) | — | — | (50 | ) | |||||||||||||||||||||
Purchase of treasury stock | (15 | ) | — | — | — | — | — | — | (15 | ) | ||||||||||||||||||||||
Proceeds from exercise of options and warrants | 104 | — | — | — | — | — | — | 104 | ||||||||||||||||||||||||
Contributions from parent | — | 534 | — | 89 | 1,022 | — | (1,645 | ) | — | |||||||||||||||||||||||
Distributions to parent | — | (5 | ) | — | (1 | ) | (630 | ) | — | 636 | — | |||||||||||||||||||||
Other, net | — | — | — | — | (2 | ) | — | — | (2 | ) | ||||||||||||||||||||||
Net cash flows from financing activities | 89 | 529 | — | 1,015 | (325 | ) | — | (1,009 | ) | 299 | ||||||||||||||||||||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (1 | ) | 5 | — | — | 10 | — | — | 14 | |||||||||||||||||||||||
CASH AND CASH EQUIVALENTS, beginning of period | 1 | — | — | — | 6 | — | — | 7 | ||||||||||||||||||||||||
CASH AND CASH EQUIVALENTS, end of period | $ | — | $ | 5 | $ | — | $ | — | $ | 16 | $ | — | $ | — | $ | 21 | ||||||||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2012 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Consolidated net income (loss) | $ | (317 | ) | $ | (92 | ) | $ | — | $ | (35 | ) | $ | 548 | $ | — | $ | (408 | ) | $ | (304 | ) | |||||||||||
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||||||||||||||||||||||||||||||||
Depreciation and amortization | — | — | — | — | 1,713 | — | — | 1,713 | ||||||||||||||||||||||||
Noncash interest expense | — | (23 | ) | — | 18 | 50 | — | — | 45 | |||||||||||||||||||||||
(Gain) loss on extinguishment of debt | — | (46 | ) | — | — | 101 | — | — | 55 | |||||||||||||||||||||||
Deferred income taxes | 252 | — | — | — | (2 | ) | — | — | 250 | |||||||||||||||||||||||
Equity in (income) losses of subsidiaries | 63 | 35 | — | (506 | ) | — | — | 408 | — | |||||||||||||||||||||||
Other, net | — | — | — | — | 45 | — | — | 45 | ||||||||||||||||||||||||
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions: | ||||||||||||||||||||||||||||||||
Accounts receivable | (1 | ) | 1 | — | — | 34 | — | — | 34 | |||||||||||||||||||||||
Prepaid expenses and other assets | 2 | 8 | — | — | (18 | ) | — | — | (8 | ) | ||||||||||||||||||||||
Accounts payable, accrued liabilities and other | — | (87 | ) | — | 47 | 86 | — | — | 46 | |||||||||||||||||||||||
Receivables from and payables to related party | (1 | ) | (1 | ) | — | (11 | ) | 13 | — | — | — | |||||||||||||||||||||
Net cash flows from operating activities | (2 | ) | (205 | ) | — | (487 | ) | 2,570 | — | — | 1,876 | |||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Purchases of property, plant and equipment | — | — | — | — | (1,745 | ) | — | — | (1,745 | ) | ||||||||||||||||||||||
Change in accrued expenses related to capital expenditures | — | — | — | — | 13 | — | — | 13 | ||||||||||||||||||||||||
Sales of cable systems, net | — | — | — | — | 19 | — | — | 19 | ||||||||||||||||||||||||
Contribution to subsidiary | (14 | ) | (71 | ) | — | (2,330 | ) | — | — | 2,415 | — | |||||||||||||||||||||
Distributions from subsidiary | 12 | 1,891 | — | 2,014 | — | — | (3,917 | ) | — | |||||||||||||||||||||||
Other, net | — | — | — | — | (24 | ) | — | — | (24 | ) | ||||||||||||||||||||||
Net cash flows from investing activities | (2 | ) | 1,820 | — | (316 | ) | (1,737 | ) | — | (1,502 | ) | (1,737 | ) | |||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Borrowings of long-term debt | — | — | — | 2,984 | 2,846 | — | — | 5,830 | ||||||||||||||||||||||||
Repayments of long-term debt | — | (1,621 | ) | — | — | (4,280 | ) | — | — | (5,901 | ) | |||||||||||||||||||||
Borrowings (payments) loans payable - related parties | — | — | — | (314 | ) | 314 | — | — | — | |||||||||||||||||||||||
Payment for debt issuance costs | — | — | — | (39 | ) | (14 | ) | — | — | (53 | ) | |||||||||||||||||||||
Purchase of treasury stock | (11 | ) | — | — | — | — | — | — | (11 | ) | ||||||||||||||||||||||
Proceeds from exercise of options | 15 | — | — | — | — | — | — | 15 | ||||||||||||||||||||||||
Contributions from parent | — | 84 | — | 1 | 2,330 | — | (2,415 | ) | — | |||||||||||||||||||||||
Distributions to parent | — | (72 | ) | — | (1,831 | ) | (2,014 | ) | — | 3,917 | — | |||||||||||||||||||||
Other, net | 1 | (6 | ) | — | — | (9 | ) | — | — | (14 | ) | |||||||||||||||||||||
Net cash flows from financing activities | 5 | (1,615 | ) | — | 801 | (827 | ) | — | 1,502 | (134 | ) | |||||||||||||||||||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 1 | — | — | (2 | ) | 6 | — | — | 5 | |||||||||||||||||||||||
CASH AND CASH EQUIVALENTS, beginning of period | — | — | — | 2 | — | — | — | 2 | ||||||||||||||||||||||||
CASH AND CASH EQUIVALENTS, end of period | $ | 1 | $ | — | $ | — | $ | — | $ | 6 | $ | — | $ | — | $ | 7 | ||||||||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||
Dec. 31, 2014 | |||
Accounting Policies [Abstract] | |||
Consolidation | Consolidation | ||
The accompanying consolidated financial statements include the accounts of Charter and its wholly owned subsidiaries. The Company consolidates based upon evaluation of the Company’s power, through voting rights or similar rights, to direct the activities of another entity that most significantly impact the entity’s economic performance; its obligation to absorb the expected losses of the entity; and its right to receive the expected residual returns of the entity. All significant inter-company accounts and transactions among consolidated entities have been eliminated. | |||
Cash and cash equivalents | Cash and Cash Equivalents | ||
The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. These investments are carried at cost, which approximates market value. Cash and cash equivalents consist primarily of money market funds and commercial paper. | |||
Property, Plant and Equipment | Property, Plant and Equipment | ||
Additions to property, plant and equipment are recorded at cost, including all material, labor and certain indirect costs associated with the construction of cable transmission and distribution facilities. While the Company’s capitalization is based on specific activities, once capitalized, costs are tracked by fixed asset category at the cable system level and not on a specific asset basis. For assets that are sold or retired, the estimated historical cost and related accumulated depreciation is removed. Costs associated with initial customer installations and the additions of network equipment necessary to enable advanced video services are capitalized. Costs capitalized as part of initial customer installations include materials, labor, and certain indirect costs. Indirect costs are associated with the activities of the Company’s personnel who assist in connecting and activating the new service and consist of compensation and other costs associated with these support functions. Indirect costs primarily include employee benefits and payroll taxes, direct variable costs associated with capitalizable activities, consisting primarily of installation and construction, vehicle costs, the cost of dispatch personnel and indirect costs directly attributable to capitalizable activities. The costs of disconnecting service at a customer’s dwelling or reconnecting service to a previously installed dwelling are charged to operating expense in the period incurred. Costs for repairs and maintenance are charged to operating expense as incurred, while plant and equipment replacement and betterments, including replacement of cable drops from the pole to the dwelling, are capitalized. | |||
Depreciation is recorded using the straight-line composite method over management’s estimate of the useful lives of the related assets as follows: | |||
Cable distribution systems | 7-20 years | ||
Customer equipment and installations | 3-8 years | ||
Vehicles and equipment | 3-6 years | ||
Buildings and leasehold improvements | 15-40 years | ||
Furniture, fixtures and equipment | 6-10 years | ||
Asset Retirement Obligations | Asset Retirement Obligations | ||
Certain of the Company’s franchise agreements and leases contain provisions requiring the Company to restore facilities or remove equipment in the event that the franchise or lease agreement is not renewed. The Company expects to continually renew its franchise agreements and has concluded that all of the related franchise rights are indefinite lived intangible assets. Accordingly, the possibility is remote that the Company would be required to incur significant restoration or removal costs related to these franchise agreements in the foreseeable future. A liability is required to be recognized for an asset retirement obligation in the period in which it is incurred if a reasonable estimate of fair value can be made. The Company has not recorded an estimate for potential franchise related obligations, but would record an estimated liability in the unlikely event a franchise agreement containing such a provision were no longer expected to be renewed. The Company also expects to renew many of its lease agreements related to the continued operation of its cable business in the franchise areas. For the Company’s lease agreements, the estimated liabilities related to the removal provisions, where applicable, have been recorded and are not significant to the financial statements. | |||
Other Noncurrent Assets | Other Noncurrent Assets | ||
Other noncurrent assets primarily include trademarks, right-of-entry costs and deferred financing costs. Trademarks have been determined to have an indefinite life and are tested annually for impairment. Right-of-entry costs represent costs incurred related to agreements entered into with landlords, real estate companies or owners to gain access to a building in order to provide cable service. Right-of-entry costs are generally deferred and amortized to amortization expense over the term of the agreement. Costs related to borrowings are deferred and amortized to interest expense over the terms of the related borrowings. | |||
Valuation of Long-Lived Assets | Valuation of Long-Lived Assets | ||
The Company evaluates the recoverability of long-lived assets to be held and used when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Such events or changes in circumstances could include such factors as impairment of the Company’s indefinite life assets, changes in technological advances, fluctuations in the fair value of such assets, adverse changes in relationships with local franchise authorities, adverse changes in market conditions or a deterioration of operating results. If a review indicates that the carrying value of such asset is not recoverable from estimated undiscounted cash flows, the carrying value of such asset is reduced to its estimated fair value. While the Company believes that its estimates of future cash flows are reasonable, different assumptions regarding such cash flows could materially affect its evaluations of asset recoverability. No impairments of long-lived assets to be held and used were recorded in 2014, 2013 and 2012. | |||
Revenue Recognition | Revenue Recognition | ||
Revenues from residential and commercial video, Internet and voice services are recognized when the related services are provided. Advertising sales are recognized at estimated realizable values in the period that the advertisements are broadcast. In some cases, the Company coordinates the advertising sales efforts of other cable operators in a certain market and remits amounts received from customers less an agreed-upon percentage to such cable operator. For those arrangements in which the Company acts as a principal, the Company records the revenues earned from the advertising customer on a gross basis and the amount remitted to the cable operator as an operating expense. | |||
Fees imposed on Charter by various governmental authorities are passed through on a monthly basis to the Company’s customers and are periodically remitted to authorities. Fees of $283 million, $263 million and $260 million for the years ended December 31, 2014, 2013 and 2012, respectively, are reported in video, voice and commercial revenues, on a gross basis with a corresponding operating expense because the Company is acting as a principal. Other taxes, such as sales taxes imposed on the Company's customers, collected and remitted to state and local authorities, are recorded on a net basis because the Company is acting as an agent in such situation. | |||
Programming Costs | Programming Costs | ||
The Company has various contracts to obtain basic, digital and premium video programming from programming vendors whose compensation is typically based on a flat fee per customer. The cost of the right to exhibit network programming under such arrangements is recorded in operating expenses in the month the programming is available for exhibition. Programming costs are paid each month based on calculations performed by the Company and are subject to periodic audits performed by the programmers. Certain programming contracts contain incentives to be paid by the programmers. The Company receives these payments and recognizes the incentives on a straight-line basis over the life of the programming agreement as a reduction of programming expense. This offset to programming expense was $19 million, $7 million and $6 million for the years ended December 31, 2014, 2013 and 2012, respectively. Programming costs included in the accompanying statements of operations were $2.5 billion, $2.1 billion and $2.0 billion for the years ended December 31, 2014, 2013 and 2012, respectively. | |||
Advertising Costs | Advertising Costs | ||
Advertising costs associated with marketing the Company’s products and services are generally expensed as costs are incurred. Such advertising expense was $380 million, $357 million and $325 million for the years ended December 31, 2014, 2013 and 2012, respectively. | |||
Multiple-Element Transactions | Multiple-Element Transactions | ||
In the normal course of business, the Company enters into multiple-element transactions where it is simultaneously both a customer and a vendor with the same counterparty or in which it purchases multiple products and/or services, or settles outstanding items contemporaneous with the purchase of a product or service from a single counterparty. Transactions, although negotiated contemporaneously, may be documented in one or more contracts. The Company’s policy for accounting for each transaction negotiated contemporaneously is to record each element of the transaction based on the respective estimated fair values of the products or services purchased and the products or services sold. In determining the fair value of the respective elements, the Company refers to quoted market prices (where available), historical transactions or comparable cash transactions. | |||
Stock-Based Compensation | Stock-Based Compensation | ||
Restricted stock, restricted stock units, stock options and performance units and shares are measured at the grant date fair value and amortized to stock compensation expense over the requisite service period. The Company recorded $55 million, $48 million and $50 million of stock compensation expense, which is included in operating costs and expenses and other operating expenses, net for the years ended December 31, 2014, 2013 and 2012, respectively. | |||
The fair value of options granted is estimated on the date of grant using the Black-Scholes option-pricing model and Monte Carlo simulations for options and restricted stock units with market conditions. The grant date weighted average assumptions used during the years ended December 31, 2014, 2013 and 2012, respectively, were: risk-free interest rate of 2.0%, 1.5% and 1.5%; expected volatility of 36.9%, 37.8% and 38.4%, and expected lives of 6.5 years, 6.3 years and 6.3 years. The grant date weighted average cost of equity used was 16.2% during each of the years ended December 31, 2013 and 2012. Volatility assumptions were based on historical volatility of Charter and a peer group. The Company’s volatility assumptions represent management’s best estimate and were partially based on historical volatility of a peer group because management does not believe Charter’s pre-emergence from bankruptcy historical volatility to be representative of its future volatility. Expected lives were calculated based on the simplified-method due to insufficient historical exercise data. The valuations assume no dividends are paid. | |||
Income Taxes | Income Taxes | ||
The Company recognizes deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities and expected benefits of utilizing loss carryforwards. The impact on deferred taxes of changes in tax rates and tax law, if any, applied to the years during which temporary differences are expected to be settled, are reflected in the consolidated financial statements in the period of enactment. See Note 16. | |||
Loss per Common Share | Loss per Common Share | ||
Basic loss per common share is computed by dividing the net loss by the weighted-average common shares outstanding during the respective periods. Diluted loss per common share equals basic loss per common share for the periods presented, as the effect of stock options and other convertible securities are anti-dilutive because the Company incurred net losses. | |||
Segments | Segments | ||
The Company’s operations are conducted through the use of a unified network and are managed and reported to its Chief Executive Officer ("CEO"), the Company's chief operating decision maker, on a consolidated basis. The CEO assesses performance and allocates resources based on the consolidated results of operations. Under this organizational and reporting structure, the Company has one reportable segment, broadband services. |
Franchises_Goodwill_and_Other_1
Franchises, Goodwill and Other Intangible Assets (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Franchises, Goodwill and Other Intangible Assets | Franchise rights represent the value attributed to agreements or authorizations with local and state authorities that allow access to homes in cable service areas. For valuation purposes, they are defined as the future economic benefits of the right to solicit and service potential customers (customer marketing rights), and the right to deploy and market new services to potential customers (service marketing rights). |
Management estimates the fair value of franchise rights at the date of acquisition and determines if the franchise has a finite life or an indefinite life. All franchises that qualify for indefinite life treatment are tested for impairment annually or more frequently as warranted by events or changes in circumstances. In determining whether our franchises have an indefinite life, the Company considered the likelihood of franchise renewals, the expected costs of franchise renewals, and the technological state of the associated cable systems, with a view to whether or not it is in compliance with any technology upgrading requirements specified in a franchise agreement. The Company has concluded that as of December 31, 2014 and 2013 all of its franchises qualify for indefinite life treatment. | |
Franchise assets are aggregated into essentially inseparable units of accounting to conduct valuations. The units of accounting generally represent geographical clustering of our cable systems into groups. The Company assesses qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that an indefinite lived intangible asset has been impaired. If, after this qualitative assessment, the Company determines that it is not more likely than not that an indefinite lived intangible asset has been impaired, then no further quantitative testing is necessary. In completing the impairment testing, the Company evaluated the impact of various factors to the expected future cash flows attributable to its units of accounting and to the assumed discount rate which would be used to present value those cash flows. Such factors included macro-economic and industry conditions including the capital markets, regulatory, and competitive environment, and costs of programming and customer premise equipment along with changes to our organizational structure and strategies. After consideration of these qualitative factors, the Company concluded that it is more likely than not that the fair value of the franchise assets in each unit of accounting exceeds the carrying value of such assets and therefore did not perform a quantitative analysis in 2014, 2013 or 2012. | |
If the Company is required to perform a quantitative analysis to test its franchise assets for impairment, the Company determines the estimated fair value utilizing an income approach model based on the present value of the estimated discrete future cash flows attributable to each of the intangible assets identified assuming a discount rate. The fair value of franchises for impairment testing is determined based on estimated discrete discounted future cash flows using assumptions consistent with internal forecasts. The franchise after-tax cash flow is calculated as the after-tax cash flow generated by the potential customers obtained (less the anticipated customer churn), and the new services added to those customers in future periods. The sum of the present value of the franchises' after-tax cash flow in years 1 through 10 and the continuing value of the after-tax cash flow beyond year 10 yields the fair value of the franchises. | |
This approach makes use of unobservable factors such as projected revenues, expenses, capital expenditures, and a discount rate applied to the estimated cash flows. The determination of the discount rate is based on a weighted average cost of capital approach, which uses a market participant’s cost of equity and after-tax cost of debt and reflects the risks inherent in the cash flows. The Company estimates discounted future cash flows using reasonable and appropriate assumptions including among others, penetration rates for video, high-speed Internet, and voice; revenue growth rates; operating margins; and capital expenditures. The assumptions are based on the Company’s and its peers’ historical operating performance adjusted for current and expected competitive and economic factors surrounding the cable industry. The estimates and assumptions made in the Company’s valuations are inherently subject to significant uncertainties, many of which are beyond its control, and there is no assurance that these results can be achieved. The primary assumptions for which there is a reasonable possibility of the occurrence of a variation that would significantly affect the measurement value include the assumptions regarding revenue growth, programming expense growth rates, the amount and timing of capital expenditures and the discount rate utilized. | |
Goodwill is tested for impairment as of November 30 of each year, or more frequently as warranted by events or changes in circumstances. Accounting guidance also permits a qualitative assessment for goodwill to determine whether it is more likely than not that the carrying value of a reporting unit exceeds its fair value. If, after this qualitative assessment, the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount then no further quantitative testing would be necessary. If the Company is required to perform the two-step test under the accounting guidance, the first step involves a comparison of the estimated fair value of each reporting unit to its carrying amount. If the estimated fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired and the second step of the goodwill impairment is not necessary. If the carrying amount of a reporting unit exceeds its estimated fair value, then the second step of the goodwill impairment test must be performed, and a comparison of the implied fair value of the reporting unit’s goodwill is compared to its carrying amount to determine the amount of impairment, if any. The fair value of the reporting unit, when performing the second step of the goodwill impairment test, is determined using a consistent income approach model as that used for franchise impairment testing. As with the Company's franchise impairment testing, the Company elected to perform a qualitative assessment for its goodwill impairment testing in 2014, 2013 and 2012 and concluded that goodwill is not impaired. | |
Customer relationships, for valuation purposes, represent the value of the business relationship with existing customers (less the anticipated customer churn), and are calculated by projecting the discrete future after-tax cash flows from these customers, including the right to deploy and market additional services to these customers. The present value of these after-tax cash flows yields the fair value of the customer relationships. The use of different valuation assumptions or definitions of franchises or customer relationships, such as our inclusion of the value of selling additional services to our current customers within customer relationships versus franchises, could significantly impact our valuations and any resulting impairment. Customer relationships are amortized on an accelerated method over useful lives of 8-15 years based on the period over which current customers are expected to generate cash flows. Customer relationships are evaluated for impairment upon the occurrence of events or changes in circumstances indicating that the carrying amount of an asset may not be recoverable. Customer relationships are deemed impaired when the carrying value exceeds the projected undiscounted future cash flows associated with the customer relationships. No impairment of customer relationships was recorded in the years ended December 31, 2014, 2013 or 2012. | |
The fair value of trademarks is determined using the relief-from-royalty method which applies a fair royalty rate to estimated revenue. Royalty rates are estimated based on a review of market royalty rates in the communications and entertainment industries. As the Company expects to continue to use each trademark indefinitely, trademarks have been assigned an indefinite life and are tested annually for impairment using either a qualitative analysis or quantitative analysis as elected by management. The qualitative analysis did not identify any factors that would indicate that it was more likely than not that the fair value of trademarks were less than the carrying value and thus resulted in no impairment in 2014, 2013 or 2012. |
Accounting_for_Derivative_Inst1
Accounting for Derivative Instruments and Hedging Activities (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | The Company uses interest rate derivative instruments to manage its interest costs and reduce the Company’s exposure to increases in floating interest rates. The Company manages its exposure to fluctuations in interest rates by maintaining a mix of fixed and variable rate debt. Using interest rate derivative instruments, the Company agrees to exchange, at specified intervals through 2017, the difference between fixed and variable interest amounts calculated by reference to agreed-upon notional principal amounts. The Company does not hold or issue derivative instruments for speculative trading purposes. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Accounting Policies [Abstract] | ||||||||||||
Schedule of useful lives of property plant and equipment | Depreciation is recorded using the straight-line composite method over management’s estimate of the useful lives of the related assets as follows: | |||||||||||
Cable distribution systems | 7-20 years | |||||||||||
Customer equipment and installations | 3-8 years | |||||||||||
Vehicles and equipment | 3-6 years | |||||||||||
Buildings and leasehold improvements | 15-40 years | |||||||||||
Furniture, fixtures and equipment | 6-10 years | |||||||||||
Schedule of revenues by product line | The Company’s revenues by product line are as follows: | |||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Video | $ | 4,443 | $ | 4,040 | $ | 3,649 | ||||||
Internet | 2,576 | 2,186 | 1,866 | |||||||||
Voice | 575 | 644 | 828 | |||||||||
Commercial | 993 | 812 | 648 | |||||||||
Advertising sales | 341 | 291 | 334 | |||||||||
Other | 180 | 182 | 179 | |||||||||
$ | 9,108 | $ | 8,155 | $ | 7,504 | |||||||
Acquisitions_and_Dispositions_1
Acquisitions and Dispositions (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Business Combinations [Abstract] | ||||||||
Pro Forma Information | 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 | |||||||
(unaudited) | ||||||||
Revenues | $ | 8,419 | $ | 8,017 | ||||
Net loss | $ | (194 | ) | $ | (392 | ) | ||
Loss per common share, basic and diluted | $ | (1.90 | ) | $ | (3.93 | ) |
Allowance_for_Doubtful_Account1
Allowance for Doubtful Accounts (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Receivables [Abstract] | ||||||||||||
Schedule of allowance for doubtful accounts | Activity in the allowance for doubtful accounts is summarized as follows for the years presented: | |||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Balance, beginning of period | $ | 19 | $ | 14 | $ | 16 | ||||||
Charged to expense | 122 | 101 | 105 | |||||||||
Uncollected balances written off, net of recoveries | (119 | ) | (96 | ) | (107 | ) | ||||||
Balance, end of period | $ | 22 | $ | 19 | $ | 14 | ||||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment | Property, plant and equipment consists of the following as of December 31, 2014 and 2013: | ||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Cable distribution systems | $ | 7,919 | $ | 7,556 | |||||
Customer equipment and installations | 4,388 | 4,061 | |||||||
Vehicles and equipment | 335 | 270 | |||||||
Buildings and leasehold improvements | 499 | 425 | |||||||
Furniture, fixtures and equipment | 716 | 456 | |||||||
13,857 | 12,768 | ||||||||
Less: accumulated depreciation | (5,484 | ) | (4,787 | ) | |||||
$ | 8,373 | $ | 7,981 | ||||||
Franchises_Goodwill_and_Other_2
Franchises, Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||
Indefinite-lived and finite-lived intangible assets | As of December 31, 2014 and 2013, indefinite lived and finite-lived intangible assets are presented in the following table: | ||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||||||||||||
Indefinite lived intangible assets: | |||||||||||||||||||||||||
Franchises | $ | 6,006 | $ | — | $ | 6,006 | $ | 6,009 | $ | — | $ | 6,009 | |||||||||||||
Goodwill | 1,168 | — | 1,168 | 1,177 | — | 1,177 | |||||||||||||||||||
Trademarks | 159 | — | 159 | 158 | — | 158 | |||||||||||||||||||
Other intangible assets | 4 | — | 4 | 4 | — | 4 | |||||||||||||||||||
$ | 7,337 | $ | — | $ | 7,337 | $ | 7,348 | $ | — | $ | 7,348 | ||||||||||||||
Finite-lived intangible assets: | |||||||||||||||||||||||||
Customer relationships | $ | 2,616 | $ | 1,511 | $ | 1,105 | $ | 2,617 | $ | 1,228 | $ | 1,389 | |||||||||||||
Other intangible assets | 151 | 60 | 91 | 130 | 44 | 86 | |||||||||||||||||||
$ | 2,767 | $ | 1,571 | $ | 1,196 | $ | 2,747 | $ | 1,272 | $ | 1,475 | ||||||||||||||
Expected future amortization expense on finite-lived intangible assets | The Company expects amortization expense on its finite-lived intangible assets will be as follows. | ||||||||||||||||||||||||
2015 | $ | 267 | |||||||||||||||||||||||
2016 | 234 | ||||||||||||||||||||||||
2017 | 200 | ||||||||||||||||||||||||
2018 | 165 | ||||||||||||||||||||||||
2019 | 131 | ||||||||||||||||||||||||
Thereafter | 199 | ||||||||||||||||||||||||
$ | 1,196 | ||||||||||||||||||||||||
Accounts_Payable_and_Accrued_L1
Accounts Payable and Accrued Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Accounts Payable and Accrued Liabilities, Current [Abstract] | |||||||||
Accounts Payable and Accrued Liabilities | Accounts payable and accrued liabilities consist of the following as of December 31, 2014 and 2013: | ||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Accounts payable – trade | $ | 140 | $ | 91 | |||||
Accrued capital expenditures | 268 | 235 | |||||||
Deferred revenue | 85 | 90 | |||||||
Accrued liabilities: | |||||||||
Interest | 212 | 195 | |||||||
Programming costs | 430 | 379 | |||||||
Franchise related fees | 65 | 62 | |||||||
Compensation | 169 | 156 | |||||||
Other | 266 | 259 | |||||||
$ | 1,635 | $ | 1,467 | ||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||||
Schedule of Long-Term Debt | Long-term debt consists of the following as of December 31, 2014 and 2013: | |||||||||||||||
December 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Principal Amount | Accreted Value | Principal Amount | Accreted Value | |||||||||||||
CCOH Safari, LLC: | ||||||||||||||||
5.500% senior notes due December 1, 2022 | $ | 1,500 | $ | 1,500 | $ | — | $ | — | ||||||||
5.750% senior notes due December 1, 2024 | 2,000 | 2,000 | — | — | ||||||||||||
CCO Holdings, LLC: | ||||||||||||||||
7.250% senior notes due October 30, 2017 | 1,000 | 1,000 | 1,000 | 1,000 | ||||||||||||
7.000% senior notes due January 15, 2019 | 1,400 | 1,394 | 1,400 | 1,393 | ||||||||||||
8.125% senior notes due April 30, 2020 | 700 | 700 | 700 | 700 | ||||||||||||
7.375% senior notes due June 1, 2020 | 750 | 750 | 750 | 750 | ||||||||||||
5.250% senior notes due March 15, 2021 | 500 | 500 | 500 | 500 | ||||||||||||
6.500% senior notes due April 30, 2021 | 1,500 | 1,500 | 1,500 | 1,500 | ||||||||||||
6.625% senior notes due January 31, 2022 | 750 | 747 | 750 | 747 | ||||||||||||
5.250% senior notes due September 30, 2022 | 1,250 | 1,240 | 1,250 | 1,239 | ||||||||||||
5.125% senior notes due February 15, 2023 | 1,000 | 1,000 | 1,000 | 1,000 | ||||||||||||
5.750% senior notes due September 1, 2023 | 500 | 500 | 500 | 500 | ||||||||||||
5.750% senior notes due January 15, 2024 | 1,000 | 1,000 | 1,000 | 1,000 | ||||||||||||
Credit facility due September 6, 2014 | — | — | 350 | 342 | ||||||||||||
Charter Communications Operating, LLC: | ||||||||||||||||
Credit facilities | 3,742 | 3,709 | 3,548 | 3,510 | ||||||||||||
CCO Safari, LLC (an Unrestricted Subsidiary): | ||||||||||||||||
Credit facilities | 3,500 | 3,483 | — | — | ||||||||||||
$ | 21,092 | $ | 21,023 | $ | 14,248 | $ | 14,181 | |||||||||
Schedule of Extinguishment of Debt | Loss on extinguishment of debt consists of the following for the years ended December 31, 2014, 2013 and 2012: | |||||||||||||||
Year ended December 31, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Charter Operating credit amendment / prepayments | $ | — | — | $ | 58 | 58 | $ | 92 | ||||||||
CCH II notes redemptions | — | — | — | — | (46 | ) | ||||||||||
Charter Operating notes repurchases | — | — | — | — | 9 | |||||||||||
CCO Holdings notes repurchases | — | — | 65 | 65 | — | |||||||||||
$ | — | — | $ | 123 | 123 | $ | 55 | |||||||||
Future Principal Payments of Long-term Debt | Based upon outstanding indebtedness as of December 31, 2014, the amortization of term loans, and the maturity dates for all senior and subordinated notes, total future principal payments on the total borrowings under all debt agreements as of December 31, 2014, are as follows: | |||||||||||||||
Year | Amount | |||||||||||||||
2015 | $ | 91 | ||||||||||||||
2016 | 127 | |||||||||||||||
2017 | 1,137 | |||||||||||||||
2018 | 967 | |||||||||||||||
2019 | 1,462 | |||||||||||||||
Thereafter | 17,308 | |||||||||||||||
$ | 21,092 | |||||||||||||||
Common_Stock_Tables
Common Stock (Tables) | 12 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Class of Stock Disclosures [Abstract] | |||||||
Common stock activity | The following table summarizes our shares outstanding for the three years ended December 31, 2014: | ||||||
Class A Common Stock | Class B Common Stock | ||||||
BALANCE, December 31, 2011 | 100,570,418 | — | |||||
Option exercises | 370,715 | — | |||||
Restricted stock issuances, net of cancellations | 182,537 | — | |||||
Stock issuances from exercise of warrants | 179,850 | — | |||||
Restricted stock unit vesting | 51,476 | — | |||||
Purchase of treasury stock (see Note 9) | (178,749 | ) | — | ||||
BALANCE, December 31, 2012 | 101,176,247 | — | |||||
Option exercises | 543,221 | — | |||||
Restricted stock issuances, net of cancellations | 4,879 | — | |||||
Stock issuances from exercise of warrants | 4,481,656 | — | |||||
Restricted stock unit vesting | 88,330 | — | |||||
Purchase of treasury stock (see Note 9) | (150,258 | ) | — | ||||
BALANCE, December 31, 2013 | 106,144,075 | — | |||||
Option exercises | 640,342 | — | |||||
Restricted stock issuances, net of cancellations | 9,090 | — | |||||
Stock issuances from exercise of warrants | 5,243,167 | — | |||||
Restricted stock unit vesting | 104,270 | — | |||||
Purchase of treasury stock (see Note 9) | (141,257 | ) | — | ||||
BALANCE, December 31, 2014 | 111,999,687 | — | |||||
Accounting_for_Derivative_Inst2
Accounting for Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||
Schedule of derivative instruments effect on the Company's condensed consolidated balance sheets | The effect of interest rate derivatives on the Company’s consolidated balance sheets is presented in the table below: | |||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||
Accrued interest | $ | 2 | $ | 8 | ||||||||
Other long-term liabilities | $ | 16 | $ | 22 | ||||||||
Accumulated other comprehensive loss | $ | (22 | ) | $ | (41 | ) | ||||||
Schedule of derivative instruments effect on the Company's condensed consolidated statements of comprehensive loss and condensed consolidated statements of operations | The effects of derivative instruments on the Company’s consolidated statements of comprehensive loss and consolidated statements of operations is presented in the table below. | |||||||||||
Year Ended December 31, 2014 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Gain (loss) on derivative instruments, net: | ||||||||||||
Change in fair value of interest rate derivative instruments not designated as cash flow hedges | $ | 12 | $ | 38 | $ | — | ||||||
Loss reclassified from accumulated other comprehensive loss into earnings as a result of cash flow hedge discontinuance | (19 | ) | (27 | ) | — | |||||||
$ | (7 | ) | $ | 11 | $ | — | ||||||
Interest expense: | ||||||||||||
Loss reclassified from accumulated other comprehensive loss into interest expense | $ | — | $ | (10 | ) | $ | (36 | ) | ||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The Company's financial instruments that are accounted for at fair value on a recurring basis are presented in the table below. | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Money market funds | $ | 4,112 | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Commercial paper | $ | — | $ | 2,999 | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Liabilities | |||||||||||||||||||||||||
Interest rate derivatives | $ | — | $ | 18 | $ | — | $ | — | $ | 30 | $ | — | |||||||||||||
Summary of Carrying and Fair Value of Debt | A summary of the carrying value and fair value of the Company’s debt at December 31, 2014 and 2013 is as follows: | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Carrying Value | Fair Value | Carrying Value | Fair Value | ||||||||||||||||||||||
Debt | |||||||||||||||||||||||||
Senior notes | $ | 13,831 | $ | 14,205 | $ | 10,329 | $ | 10,384 | |||||||||||||||||
Credit facilities | $ | 7,192 | $ | 7,186 | $ | 3,852 | $ | 3,848 | |||||||||||||||||
Operating_Costs_and_Expenses_T
Operating Costs and Expenses (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Operating Costs and Expenses [Abstract] | ||||||||||||
Operating Costs and Expenses | Operating costs and expenses consist of the following for the years presented: | |||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Programming | $ | 2,459 | $ | 2,146 | $ | 1,965 | ||||||
Franchise, regulatory and connectivity | 428 | 399 | 383 | |||||||||
Costs to service customers | 1,675 | 1,561 | 1,394 | |||||||||
Marketing | 529 | 488 | 431 | |||||||||
Other | 882 | 751 | 687 | |||||||||
$ | 5,973 | $ | 5,345 | $ | 4,860 | |||||||
Other_Operating_Expenses_Net_T
Other Operating Expenses, Net (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Other Income and Expenses [Abstract] | ||||||||||||
Schedule of other operating expenses, net | Other operating expenses, net consist of the following for the years presented: | |||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Merger and acquisition costs | $ | 38 | $ | 16 | $ | 1 | ||||||
Special charges, net | 14 | 23 | 20 | |||||||||
(Gain) loss on sale of assets, net | 10 | 8 | (5 | ) | ||||||||
$ | 62 | $ | 47 | $ | 16 | |||||||
Stock_Compensation_Plans_Table
Stock Compensation Plans (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Stock Options [Member] | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||||||
Schedule of stock option activity | A summary of the activity for the Company’s stock options for the years ended December 31, 2014, 2013 and 2012, is as follows (amounts in thousands, except per share data): | |||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Shares | Weighted Average Exercise Price | Shares | Weighted Average Exercise Price | Shares | Weighted Average Exercise Price | |||||||||||||||||||
Outstanding, beginning of period | 3,142 | $ | 59.86 | 3,552 | $ | 54.35 | 4,018 | $ | 49.53 | |||||||||||||||
Granted | 1,234 | $ | 136.75 | 276 | $ | 108.89 | 813 | $ | 69 | |||||||||||||||
Exercised | (640 | ) | $ | 52.5 | (543 | ) | $ | 51.22 | (371 | ) | $ | 40.57 | ||||||||||||
Canceled | (47 | ) | $ | 104.57 | (143 | ) | $ | 50.54 | (908 | ) | $ | 51.74 | ||||||||||||
Outstanding, end of period | 3,689 | $ | 86.29 | 3,142 | $ | 59.86 | 3,552 | $ | 54.35 | |||||||||||||||
Weighted average remaining contractual life | 7 | years | 7 | years | 8 | years | ||||||||||||||||||
Options exercisable, end of period | 1,317 | $ | 55.65 | 1,128 | $ | 52.07 | 469 | $ | 46.23 | |||||||||||||||
Weighted average fair value of options granted | $ | 55.08 | $ | 41.52 | $ | 28.17 | ||||||||||||||||||
Restricted Stock [Member] | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||||||
Schedule of restricted stock activity | A summary of the activity for the Company’s restricted stock for the years ended December 31, 2014, 2013 and 2012, is as follows (amounts in thousands, except per share data): | |||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Shares | Weighted Average Grant Price | Shares | Weighted Average Grant Price | Shares | Weighted Average Grant Price | |||||||||||||||||||
Outstanding, beginning of period | 653 | $ | 56.14 | 928 | $ | 54.16 | 1,115 | $ | 45.72 | |||||||||||||||
Granted | 9 | $ | 138.57 | 13 | $ | 101.81 | 244 | $ | 60.48 | |||||||||||||||
Vested | (231 | ) | $ | 57.35 | (280 | ) | $ | 51.62 | (370 | ) | $ | 36.02 | ||||||||||||
Canceled | — | $ | — | (8 | ) | $ | 56.5 | (61 | ) | $ | 35.25 | |||||||||||||
Outstanding, end of period | 431 | $ | 57.24 | 653 | $ | 56.14 | 928 | $ | 54.16 | |||||||||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||||||
Schedule of restricted stock activity | A summary of the activity for the Company’s restricted stock units for the years ended December 31, 2014, 2013 and 2012, is as follows (amounts in thousands, except per share data): | |||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Shares | Weighted Average Grant Price | Shares | Weighted Average Grant Price | Shares | Weighted Average Grant Price | |||||||||||||||||||
Outstanding, beginning of period | 288 | $ | 74.73 | 327 | $ | 61.79 | 273 | $ | 54.86 | |||||||||||||||
Granted | 153 | $ | 136.54 | 73 | $ | 109.96 | 142 | $ | 71.33 | |||||||||||||||
Vested | (104 | ) | $ | 70.23 | (88 | ) | $ | 61.17 | (52 | ) | $ | 56.59 | ||||||||||||
Canceled | (12 | ) | $ | 112.53 | (24 | ) | $ | 55.28 | (36 | ) | $ | 54.47 | ||||||||||||
Outstanding, end of period | 325 | $ | 104.01 | 288 | $ | 74.73 | 327 | $ | 61.79 | |||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||||
Current and deferred income tax benefit (expense) | Current and deferred income tax expense is as follows: | |||||||||||||
Year Ended December 31, | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Current expense: | ||||||||||||||
Federal income taxes | $ | (1 | ) | $ | (1 | ) | $ | — | ||||||
State income taxes | (2 | ) | (7 | ) | (7 | ) | ||||||||
Current income tax expense | (3 | ) | (8 | ) | (7 | ) | ||||||||
Deferred expense: | ||||||||||||||
Federal income taxes | (192 | ) | (101 | ) | (223 | ) | ||||||||
State income taxes | (41 | ) | (11 | ) | (27 | ) | ||||||||
Deferred income tax expense | (233 | ) | (112 | ) | (250 | ) | ||||||||
Total income tax expense | $ | (236 | ) | $ | (120 | ) | $ | (257 | ) | |||||
Effective tax rate differences from applicable federal income tax rate | The Company’s effective tax rate differs from that derived by applying the applicable federal income tax rate of 35% for the years ended December 31, 2014, 2013, and 2012, respectively, as follows: | |||||||||||||
Year Ended December 31, | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Statutory federal income taxes | $ | (18 | ) | $ | 17 | $ | 17 | |||||||
Statutory state income taxes, net | (2 | ) | (7 | ) | (7 | ) | ||||||||
Nondeductible expenses | (10 | ) | (3 | ) | (6 | ) | ||||||||
Change in valuation allowance | (203 | ) | (127 | ) | (264 | ) | ||||||||
State rate changes | (3 | ) | 4 | — | ||||||||||
Other | — | (4 | ) | 3 | ||||||||||
Income tax expense | $ | (236 | ) | $ | (120 | ) | $ | (257 | ) | |||||
Deferred tax assets and liabilities | The tax effects of these temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2014 and 2013 are presented below. | |||||||||||||
December 31, | ||||||||||||||
2014 | 2013 | |||||||||||||
Deferred tax assets: | ||||||||||||||
Goodwill | $ | 251 | $ | 274 | ||||||||||
Investment in partnership | 293 | 289 | ||||||||||||
Loss carryforwards | 3,595 | 3,170 | ||||||||||||
Other intangibles | 112 | 48 | ||||||||||||
Accrued and other | 172 | 112 | ||||||||||||
Total gross deferred tax assets | 4,423 | 3,893 | ||||||||||||
Less: valuation allowance | (3,149 | ) | (2,961 | ) | ||||||||||
Deferred tax assets | $ | 1,274 | $ | 932 | ||||||||||
Deferred tax liabilities: | ||||||||||||||
Indefinite life intangibles | $ | (1,428 | ) | $ | (1,205 | ) | ||||||||
Property, plant and equipment | (1,247 | ) | (901 | ) | ||||||||||
Indirect corporate subsidiaries: | ||||||||||||||
Indefinite life intangibles | (122 | ) | (122 | ) | ||||||||||
Other | (125 | ) | (119 | ) | ||||||||||
Deferred tax liabilities | (2,922 | ) | (2,347 | ) | ||||||||||
Net deferred tax liabilities | $ | (1,648 | ) | $ | (1,415 | ) |
Commitments_and_Contingencies_1
Commitments and Contingencies (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||
Schedule of Company Payment Obligations | The following table summarizes the Company’s payment obligations as of December 31, 2014 for its contractual obligations. | |||||||||||||||||||||||||||||
Total | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | ||||||||||||||||||||||||
Contractual Obligations | ||||||||||||||||||||||||||||||
Capital and Operating Lease Obligations (1) | $ | 169 | $ | 43 | $ | 39 | $ | 35 | $ | 25 | 16 | $ | 11 | |||||||||||||||||
Programming Minimum Commitments (2) | 795 | 271 | 256 | 235 | 9 | 10 | 14 | |||||||||||||||||||||||
Other (3) | 319 | 291 | 16 | 9 | 3 | — | — | |||||||||||||||||||||||
Total | $ | 1,283 | $ | 605 | $ | 311 | $ | 279 | $ | 37 | $ | 26 | $ | 25 | ||||||||||||||||
(1) The Company leases certain facilities and equipment under non-cancelable operating leases. Leases and rental costs charged to expense for the years ended December 31, 2014, 2013 and 2012 were $43 million, $34 million, $28 million, respectively. | ||||||||||||||||||||||||||||||
(2) The Company pays programming fees under multi-year contracts ranging from three to ten years, typically based on a flat fee per customer, which may be fixed for the term, or may in some cases escalate over the term. Programming costs included in the accompanying statement of operations were $2.5 billion, $2.1 billion and $2.0 billion for the years ended December 31, 2014, 2013, and 2012 respectively. Certain of the Company’s programming agreements are based on a flat fee per month or have guaranteed minimum payments. The table sets forth the aggregate guaranteed minimum commitments under the Company’s programming contracts. | ||||||||||||||||||||||||||||||
(3) “Other” represents other guaranteed minimum commitments, which consist primarily of commitments to the Company's customer premise equipment vendors. |
Unaudited_Quarterly_Financial_1
Unaudited Quarterly Financial Data (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Schedule of Quarterly Financial Information | The following table presents quarterly data for the periods presented on the consolidated statement of operations: | ||||||||||||||||
Year Ended December 31, 2014 | |||||||||||||||||
First | Second Quarter | Third | Fourth Quarter | ||||||||||||||
Quarter | Quarter | ||||||||||||||||
Revenues | $ | 2,202 | $ | 2,259 | $ | 2,287 | $ | 2,360 | |||||||||
Income from operations | $ | 240 | $ | 236 | $ | 218 | $ | 277 | |||||||||
Net loss | $ | (37 | ) | $ | (45 | ) | $ | (53 | ) | $ | (48 | ) | |||||
Loss per common share, basic and diluted | $ | (0.35 | ) | $ | (0.42 | ) | $ | (0.49 | ) | $ | (0.44 | ) | |||||
Weighted average common shares | 106,439,198 | 107,975,937 | 108,792,605 | 110,242,507 | |||||||||||||
outstanding, basic and diluted | |||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||
First | Second Quarter | Third | Fourth Quarter | ||||||||||||||
Quarter | Quarter | ||||||||||||||||
Revenues | $ | 1,917 | $ | 1,972 | $ | 2,118 | $ | 2,148 | |||||||||
Income from operations | $ | 222 | $ | 234 | $ | 209 | $ | 244 | |||||||||
Net income (loss) | $ | (42 | ) | $ | (96 | ) | $ | (70 | ) | $ | 39 | ||||||
Loss per common share: | |||||||||||||||||
Basic | $ | (0.42 | ) | $ | (0.96 | ) | $ | (0.68 | ) | $ | 0.38 | ||||||
Diluted | (0.42 | ) | (0.96 | ) | (0.68 | ) | 0.35 | ||||||||||
Weighted average common shares outstanding: | |||||||||||||||||
Basic | 100,327,418 | 100,600,678 | 102,924,443 | 103,836,535 | |||||||||||||
Diluted | 100,327,418 | 100,600,678 | 102,924,443 | 111,415,982 | |||||||||||||
Consolidating_Schedules_Tables
Consolidating Schedules (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ||||||||||||||||||||||||||||||||
Schedule of Condensed Consolidating Balance Sheet | Condensed consolidating financial statements as of December 31, 2014 and 2013 and for the years ended December 31, 2014, 2013 and 2012 follow. | |||||||||||||||||||||||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||
CURRENT ASSETS: | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3 | ||||||||||||||||
Accounts receivable, net | 4 | 6 | — | — | 275 | — | — | 285 | ||||||||||||||||||||||||
Receivables from related party | 55 | 221 | — | 11 | — | — | (287 | ) | — | |||||||||||||||||||||||
Prepaid expenses and other current assets | 23 | 10 | — | — | 50 | — | — | 83 | ||||||||||||||||||||||||
Total current assets | 85 | 237 | — | 11 | 325 | — | (287 | ) | 371 | |||||||||||||||||||||||
RESTRICTED CASH AND CASH EQUIVALENTS | — | — | 3,597 | — | — | 3,514 | — | 7,111 | ||||||||||||||||||||||||
INVESTMENT IN CABLE PROPERTIES: | ||||||||||||||||||||||||||||||||
Property, plant and equipment, net | — | 29 | — | — | 8,344 | — | — | 8,373 | ||||||||||||||||||||||||
Franchises | — | — | — | — | 6,006 | — | — | 6,006 | ||||||||||||||||||||||||
Customer relationships, net | — | — | — | — | 1,105 | — | — | 1,105 | ||||||||||||||||||||||||
Goodwill | — | — | — | — | 1,168 | — | — | 1,168 | ||||||||||||||||||||||||
Total investment in cable properties, net | — | 29 | — | — | 16,623 | — | — | 16,652 | ||||||||||||||||||||||||
CC VIII PREFERRED INTEREST | — | 436 | — | — | — | — | (436 | ) | — | |||||||||||||||||||||||
INVESTMENT IN SUBSIDIARIES | 1,509 | 482 | — | 10,331 | 27 | — | (12,349 | ) | — | |||||||||||||||||||||||
LOANS RECEIVABLE – RELATED PARTY | — | 326 | — | 584 | — | — | (910 | ) | — | |||||||||||||||||||||||
OTHER NONCURRENT ASSETS | — | 166 | 3 | 104 | 139 | 4 | — | 416 | ||||||||||||||||||||||||
Total assets | $ | 1,594 | $ | 1,676 | $ | 3,600 | $ | 11,030 | $ | 17,114 | $ | 3,518 | $ | (13,982 | ) | $ | 24,550 | |||||||||||||||
LIABILITIES AND SHAREHOLDERS’/MEMBER’S EQUITY | ||||||||||||||||||||||||||||||||
CURRENT LIABILITIES: | ||||||||||||||||||||||||||||||||
Accounts payable and accrued liabilities | $ | 11 | $ | 152 | $ | 18 | $ | 187 | $ | 1,259 | $ | 8 | $ | — | $ | 1,635 | ||||||||||||||||
Payables to related party | — | — | — | — | 287 | — | (287 | ) | — | |||||||||||||||||||||||
Total current liabilities | 11 | 152 | 18 | 187 | 1,546 | 8 | (287 | ) | 1,635 | |||||||||||||||||||||||
LONG-TERM DEBT | — | — | 3,500 | 10,331 | 3,709 | 3,483 | — | 21,023 | ||||||||||||||||||||||||
LOANS PAYABLE – RELATED PARTY | — | — | 112 | — | 798 | — | (910 | ) | — | |||||||||||||||||||||||
DEFERRED INCOME TAXES | 1,437 | — | — | — | 237 | — | — | 1,674 | ||||||||||||||||||||||||
OTHER LONG-TERM LIABILITIES | — | 15 | — | — | 57 | — | — | 72 | ||||||||||||||||||||||||
Shareholders’/Member’s equity | 146 | 1,509 | (30 | ) | 512 | 10,331 | 27 | (12,349 | ) | 146 | ||||||||||||||||||||||
Non-controlling interest | — | — | — | — | 436 | — | (436 | ) | — | |||||||||||||||||||||||
Total shareholders’/member’s equity | 146 | 1,509 | (30 | ) | 512 | 10,767 | 27 | (12,785 | ) | 146 | ||||||||||||||||||||||
Total liabilities and shareholders’/member’s equity | $ | 1,594 | $ | 1,676 | $ | 3,600 | $ | 11,030 | $ | 17,114 | $ | 3,518 | $ | (13,982 | ) | $ | 24,550 | |||||||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||
CURRENT ASSETS: | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 5 | $ | — | $ | — | $ | 16 | $ | — | $ | — | $ | 21 | ||||||||||||||||
Accounts receivable, net | 4 | 4 | — | — | 226 | — | — | 234 | ||||||||||||||||||||||||
Receivables from related party | 54 | 170 | — | 11 | — | — | (235 | ) | — | |||||||||||||||||||||||
Prepaid expenses and other current assets | 14 | 10 | — | — | 43 | — | — | 67 | ||||||||||||||||||||||||
Total current assets | 72 | 189 | — | 11 | 285 | — | (235 | ) | 322 | |||||||||||||||||||||||
INVESTMENT IN CABLE PROPERTIES: | ||||||||||||||||||||||||||||||||
Property, plant and equipment, net | — | 30 | — | — | 7,951 | — | — | 7,981 | ||||||||||||||||||||||||
Franchises | — | — | — | — | 6,009 | — | — | 6,009 | ||||||||||||||||||||||||
Customer relationships, net | — | — | — | — | 1,389 | — | — | 1,389 | ||||||||||||||||||||||||
Goodwill | — | — | — | — | 1,177 | — | — | 1,177 | ||||||||||||||||||||||||
Total investment in cable properties, net | — | 30 | — | — | 16,526 | — | — | 16,556 | ||||||||||||||||||||||||
CC VIII PREFERRED INTEREST | — | 392 | — | — | — | — | (392 | ) | — | |||||||||||||||||||||||
INVESTMENT IN SUBSIDIARIES | 1,295 | 325 | — | 10,592 | — | — | (12,212 | ) | — | |||||||||||||||||||||||
LOANS RECEIVABLE – RELATED PARTY | — | 318 | — | 461 | — | — | (779 | ) | — | |||||||||||||||||||||||
OTHER NONCURRENT ASSETS | — | 160 | — | 119 | 138 | — | — | 417 | ||||||||||||||||||||||||
Total assets | $ | 1,367 | $ | 1,414 | $ | — | $ | 11,183 | $ | 16,949 | $ | — | $ | (13,618 | ) | $ | 17,295 | |||||||||||||||
LIABILITIES AND SHAREHOLDERS’/MEMBER’S EQUITY | ||||||||||||||||||||||||||||||||
CURRENT LIABILITIES: | ||||||||||||||||||||||||||||||||
Accounts payable and accrued liabilities | $ | 12 | $ | 113 | $ | — | $ | 187 | $ | 1,155 | $ | — | $ | — | $ | 1,467 | ||||||||||||||||
Payables to related party | — | — | — | — | 235 | — | (235 | ) | — | |||||||||||||||||||||||
Total current liabilities | 12 | 113 | — | 187 | 1,390 | — | (235 | ) | 1,467 | |||||||||||||||||||||||
LONG-TERM DEBT | — | — | — | 10,671 | 3,510 | — | — | 14,181 | ||||||||||||||||||||||||
LOANS PAYABLE – RELATED PARTY | — | — | — | — | 779 | — | (779 | ) | — | |||||||||||||||||||||||
DEFERRED INCOME TAXES | 1,204 | — | — | — | 227 | — | — | 1,431 | ||||||||||||||||||||||||
OTHER LONG-TERM LIABILITIES | — | 6 | — | — | 59 | — | — | 65 | ||||||||||||||||||||||||
Shareholders’/Member’s equity | 151 | 1,295 | — | 325 | 10,592 | — | (12,212 | ) | 151 | |||||||||||||||||||||||
Non-controlling interest | — | — | — | — | 392 | — | (392 | ) | — | |||||||||||||||||||||||
Total shareholders’/member’s equity | 151 | 1,295 | — | 325 | 10,984 | — | (12,604 | ) | 151 | |||||||||||||||||||||||
Total liabilities and shareholders’/member’s equity | $ | 1,367 | $ | 1,414 | $ | — | $ | 11,183 | $ | 16,949 | $ | — | $ | (13,618 | ) | $ | 17,295 | |||||||||||||||
Schedule of Condensed Consolidating Statement of Operations | ||||||||||||||||||||||||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2014 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
REVENUES | $ | 22 | $ | 235 | $ | — | $ | — | $ | 9,108 | $ | — | $ | (257 | ) | $ | 9,108 | |||||||||||||||
COSTS AND EXPENSES: | ||||||||||||||||||||||||||||||||
Operating costs and expenses (excluding depreciation and amortization) | 22 | 235 | — | — | 5,973 | — | (257 | ) | 5,973 | |||||||||||||||||||||||
Depreciation and amortization | — | — | — | — | 2,102 | — | — | 2,102 | ||||||||||||||||||||||||
Other operating expenses, net | — | — | — | — | 62 | — | — | 62 | ||||||||||||||||||||||||
22 | 235 | — | — | 8,137 | — | (257 | ) | 8,137 | ||||||||||||||||||||||||
Income from operations | — | — | — | — | 971 | — | — | 971 | ||||||||||||||||||||||||
OTHER INCOME AND (EXPENSES): | ||||||||||||||||||||||||||||||||
Interest expense, net | — | 8 | (30 | ) | (679 | ) | (165 | ) | (45 | ) | — | (911 | ) | |||||||||||||||||||
Loss on derivative instruments, net | — | — | — | — | (7 | ) | — | — | (7 | ) | ||||||||||||||||||||||
Equity in income (loss) of subsidiaries | 40 | (12 | ) | — | 697 | (45 | ) | — | (680 | ) | — | |||||||||||||||||||||
40 | (4 | ) | (30 | ) | 18 | (217 | ) | (45 | ) | (680 | ) | (918 | ) | |||||||||||||||||||
Income (loss) before income taxes | 40 | (4 | ) | (30 | ) | 18 | 754 | (45 | ) | (680 | ) | 53 | ||||||||||||||||||||
INCOME TAX EXPENSE | (223 | ) | — | — | — | (13 | ) | — | — | (236 | ) | |||||||||||||||||||||
Consolidated net income (loss) | (183 | ) | (4 | ) | (30 | ) | 18 | 741 | (45 | ) | (680 | ) | (183 | ) | ||||||||||||||||||
Less: Net (income) loss – non-controlling interest | — | 44 | — | — | (44 | ) | — | — | — | |||||||||||||||||||||||
Net income (loss) | $ | (183 | ) | $ | 40 | $ | (30 | ) | $ | 18 | $ | 697 | $ | (45 | ) | $ | (680 | ) | $ | (183 | ) | |||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
REVENUES | $ | 22 | $ | 188 | $ | — | $ | — | $ | 8,155 | $ | — | $ | (210 | ) | $ | 8,155 | |||||||||||||||
COSTS AND EXPENSES: | ||||||||||||||||||||||||||||||||
Operating costs and expenses (excluding depreciation and amortization) | 22 | 188 | — | — | 5,345 | — | (210 | ) | 5,345 | |||||||||||||||||||||||
Depreciation and amortization | — | — | — | — | 1,854 | — | — | 1,854 | ||||||||||||||||||||||||
Other operating expenses, net | — | — | — | — | 47 | — | — | 47 | ||||||||||||||||||||||||
22 | 188 | — | — | 7,246 | — | (210 | ) | 7,246 | ||||||||||||||||||||||||
Income from operations | — | — | — | — | 909 | — | — | 909 | ||||||||||||||||||||||||
OTHER INCOME AND (EXPENSES): | ||||||||||||||||||||||||||||||||
Interest expense, net | — | 8 | — | (681 | ) | (173 | ) | — | — | (846 | ) | |||||||||||||||||||||
Loss on extinguishment of debt | — | — | — | (65 | ) | (58 | ) | — | — | (123 | ) | |||||||||||||||||||||
Gain on derivative instruments, net | — | — | — | — | 11 | — | — | 11 | ||||||||||||||||||||||||
Equity in income (loss) of subsidiaries | (75 | ) | (114 | ) | — | 632 | — | — | (443 | ) | — | |||||||||||||||||||||
(75 | ) | (106 | ) | — | (114 | ) | (220 | ) | — | (443 | ) | (958 | ) | |||||||||||||||||||
Income (loss) before income taxes | (75 | ) | (106 | ) | — | (114 | ) | 689 | — | (443 | ) | (49 | ) | |||||||||||||||||||
INCOME TAX EXPENSE | (108 | ) | (1 | ) | — | — | (11 | ) | — | — | (120 | ) | ||||||||||||||||||||
Consolidated net income (loss) | (183 | ) | (107 | ) | — | (114 | ) | 678 | — | (443 | ) | (169 | ) | |||||||||||||||||||
Less: Net (income) loss – non-controlling interest | 14 | 32 | — | — | (46 | ) | — | — | — | |||||||||||||||||||||||
Net income (loss) | $ | (169 | ) | $ | (75 | ) | $ | — | $ | (114 | ) | $ | 632 | $ | — | $ | (443 | ) | $ | (169 | ) | |||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2012 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
REVENUES | $ | 24 | $ | 159 | $ | — | $ | — | $ | 7,504 | $ | — | $ | (183 | ) | $ | 7,504 | |||||||||||||||
COSTS AND EXPENSES: | ||||||||||||||||||||||||||||||||
Operating costs and expenses (excluding depreciation and amortization) | 24 | 159 | — | — | 4,860 | — | (183 | ) | 4,860 | |||||||||||||||||||||||
Depreciation and amortization | — | — | — | — | 1,713 | — | — | 1,713 | ||||||||||||||||||||||||
Other operating expenses, net | — | — | — | — | 16 | — | — | 16 | ||||||||||||||||||||||||
24 | 159 | — | — | 6,589 | — | (183 | ) | 6,589 | ||||||||||||||||||||||||
Income from operations | — | — | — | — | 915 | — | — | 915 | ||||||||||||||||||||||||
OTHER INCOME AND (EXPENSES): | ||||||||||||||||||||||||||||||||
Interest expense, net | — | (103 | ) | — | (541 | ) | (263 | ) | — | — | (907 | ) | ||||||||||||||||||||
Gain (loss) on extinguishment of debt | — | 46 | — | — | (101 | ) | — | — | (55 | ) | ||||||||||||||||||||||
Equity in income (loss) of subsidiaries | (63 | ) | (35 | ) | — | 506 | — | — | (408 | ) | — | |||||||||||||||||||||
(63 | ) | (92 | ) | — | (35 | ) | (364 | ) | — | (408 | ) | (962 | ) | |||||||||||||||||||
Income (loss) before income taxes | (63 | ) | (92 | ) | — | (35 | ) | 551 | — | (408 | ) | (47 | ) | |||||||||||||||||||
INCOME TAX EXPENSE | (254 | ) | — | — | — | (3 | ) | — | — | (257 | ) | |||||||||||||||||||||
Consolidated net income (loss) | (317 | ) | (92 | ) | — | (35 | ) | 548 | — | (408 | ) | (304 | ) | |||||||||||||||||||
Less: Net (income) loss – non-controlling interest | 13 | 29 | — | — | (42 | ) | — | — | — | |||||||||||||||||||||||
Net income (loss) | $ | (304 | ) | $ | (63 | ) | $ | — | $ | (35 | ) | $ | 506 | $ | — | $ | (408 | ) | $ | (304 | ) | |||||||||||
Schedule of Condensed Consolidating Statement of Comprehensive Income (Loss) | ||||||||||||||||||||||||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2014 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
Consolidated net income (loss) | $ | (183 | ) | $ | (4 | ) | $ | (30 | ) | $ | 18 | $ | 741 | $ | (45 | ) | $ | (680 | ) | $ | (183 | ) | ||||||||||
Net impact of interest rate derivative instruments, net of tax | — | — | — | — | 19 | — | — | 19 | ||||||||||||||||||||||||
Comprehensive income (loss) | $ | (183 | ) | $ | (4 | ) | $ | (30 | ) | $ | 18 | $ | 760 | $ | (45 | ) | $ | (680 | ) | $ | (164 | ) | ||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
Consolidated net income (loss) | $ | (183 | ) | $ | (107 | ) | $ | — | $ | (114 | ) | $ | 678 | $ | — | $ | (443 | ) | $ | (169 | ) | |||||||||||
Net impact of interest rate derivative instruments, net of tax | — | — | — | — | 34 | — | — | 34 | ||||||||||||||||||||||||
Comprehensive income (loss) | $ | (183 | ) | $ | (107 | ) | $ | — | $ | (114 | ) | $ | 712 | $ | — | $ | (443 | ) | $ | (135 | ) | |||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2012 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
Consolidated net income (loss) | $ | (317 | ) | $ | (92 | ) | $ | — | $ | (35 | ) | $ | 548 | $ | — | $ | (408 | ) | $ | (304 | ) | |||||||||||
Net impact of interest rate derivative instruments, net of tax | — | — | — | — | (10 | ) | — | — | (10 | ) | ||||||||||||||||||||||
Comprehensive income (loss) | $ | (317 | ) | $ | (92 | ) | $ | — | $ | (35 | ) | $ | 538 | $ | — | $ | (408 | ) | $ | (314 | ) | |||||||||||
Schedule of Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||||||||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2014 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Consolidated net income (loss) | $ | (183 | ) | $ | (4 | ) | $ | (30 | ) | $ | 18 | $ | 741 | $ | (45 | ) | $ | (680 | ) | $ | (183 | ) | ||||||||||
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||||||||||||||||||||||||||||||||
Depreciation and amortization | — | — | — | — | 2,102 | — | — | 2,102 | ||||||||||||||||||||||||
Noncash interest expense | — | — | — | 25 | 12 | — | — | 37 | ||||||||||||||||||||||||
Loss on derivative instruments, net | — | — | — | — | 7 | — | — | 7 | ||||||||||||||||||||||||
Deferred income taxes | 223 | — | — | — | 10 | — | — | 233 | ||||||||||||||||||||||||
Equity in (income) losses of subsidiaries | (40 | ) | 12 | — | (697 | ) | 45 | — | 680 | — | ||||||||||||||||||||||
Other, net | — | (2 | ) | — | — | 67 | — | — | 65 | |||||||||||||||||||||||
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions: | ||||||||||||||||||||||||||||||||
Accounts receivable | — | (2 | ) | — | — | (49 | ) | — | — | (51 | ) | |||||||||||||||||||||
Prepaid expenses and other assets | — | (1 | ) | — | — | (8 | ) | — | — | (9 | ) | |||||||||||||||||||||
Accounts payable, accrued liabilities and other | — | 41 | 18 | — | 91 | 8 | — | 158 | ||||||||||||||||||||||||
Receivables from and payables to related party | — | (57 | ) | — | (11 | ) | 68 | — | — | — | ||||||||||||||||||||||
Net cash flows from operating activities | — | (13 | ) | (12 | ) | (665 | ) | 3,086 | (37 | ) | — | 2,359 | ||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Purchases of property, plant and equipment | — | — | — | — | (2,221 | ) | — | — | (2,221 | ) | ||||||||||||||||||||||
Change in accrued expenses related to capital expenditures | — | — | — | — | 33 | — | — | 33 | ||||||||||||||||||||||||
Purchases of cable systems, net | — | — | — | — | 11 | — | — | 11 | ||||||||||||||||||||||||
Contribution to subsidiary | (106 | ) | (600 | ) | — | (100 | ) | (71 | ) | — | 877 | — | ||||||||||||||||||||
Distributions from subsidiary | 5 | 30 | — | 1,132 | — | — | (1,167 | ) | — | |||||||||||||||||||||||
Restricted cash in escrow | — | — | (3,598 | ) | — | — | (3,513 | ) | — | (7,111 | ) | |||||||||||||||||||||
Other, net | — | (5 | ) | — | — | (11 | ) | — | — | (16 | ) | |||||||||||||||||||||
Net cash flows from investing activities | (101 | ) | (575 | ) | (3,598 | ) | 1,032 | (2,259 | ) | (3,513 | ) | (290 | ) | (9,304 | ) | |||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Borrowings of long-term debt | — | — | 3,500 | — | 1,823 | 3,483 | — | 8,806 | ||||||||||||||||||||||||
Repayments of long-term debt | — | — | — | (350 | ) | (1,630 | ) | — | — | (1,980 | ) | |||||||||||||||||||||
Borrowings (payments) loans payable - related parties | — | — | 112 | (112 | ) | — | — | — | — | |||||||||||||||||||||||
Payment for debt issuance costs | — | — | (2 | ) | — | — | (4 | ) | — | (6 | ) | |||||||||||||||||||||
Purchase of treasury stock | (19 | ) | — | — | — | — | — | — | (19 | ) | ||||||||||||||||||||||
Proceeds from exercise of options and warrants | 123 | — | — | — | — | — | — | 123 | ||||||||||||||||||||||||
Contributions from parent | — | 606 | — | 100 | 100 | 71 | (877 | ) | — | |||||||||||||||||||||||
Distributions to parent | — | (30 | ) | — | (5 | ) | (1,132 | ) | — | 1,167 | — | |||||||||||||||||||||
Other, net | — | 7 | — | — | (4 | ) | — | — | 3 | |||||||||||||||||||||||
Net cash flows from financing activities | 104 | 583 | 3,610 | (367 | ) | (843 | ) | 3,550 | 290 | 6,927 | ||||||||||||||||||||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 3 | (5 | ) | — | — | (16 | ) | — | — | (18 | ) | |||||||||||||||||||||
CASH AND CASH EQUIVALENTS, beginning of period | — | 5 | — | — | 16 | — | — | 21 | ||||||||||||||||||||||||
CASH AND CASH EQUIVALENTS, end of period | $ | 3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3 | ||||||||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Consolidated net income (loss) | $ | (183 | ) | $ | (107 | ) | $ | — | $ | (114 | ) | $ | 678 | $ | — | $ | (443 | ) | $ | (169 | ) | |||||||||||
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||||||||||||||||||||||||||||||||
Depreciation and amortization | — | — | — | — | 1,854 | — | — | 1,854 | ||||||||||||||||||||||||
Noncash interest expense | — | — | — | 27 | 16 | — | — | 43 | ||||||||||||||||||||||||
Loss on extinguishment of debt | — | — | — | 65 | 58 | — | — | 123 | ||||||||||||||||||||||||
Gain on derivative instruments, net | — | — | — | — | (11 | ) | — | — | (11 | ) | ||||||||||||||||||||||
Deferred income taxes | 105 | — | — | — | 7 | — | — | 112 | ||||||||||||||||||||||||
Equity in (income) losses of subsidiaries | 75 | 114 | — | (632 | ) | — | — | 443 | — | |||||||||||||||||||||||
Other, net | — | — | — | — | 82 | — | — | 82 | ||||||||||||||||||||||||
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions: | ||||||||||||||||||||||||||||||||
Accounts receivable | (3 | ) | (1 | ) | — | — | 14 | — | — | 10 | ||||||||||||||||||||||
Prepaid expenses and other assets | — | 1 | — | — | (1 | ) | — | — | — | |||||||||||||||||||||||
Accounts payable, accrued liabilities and other | — | (3 | ) | — | 41 | 76 | — | — | 114 | |||||||||||||||||||||||
Receivables from and payables to related party | 5 | (1 | ) | — | (10 | ) | 6 | — | — | — | ||||||||||||||||||||||
Net cash flows from operating activities | (1 | ) | 3 | — | (623 | ) | 2,779 | — | — | 2,158 | ||||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Purchases of property, plant and equipment | — | — | — | — | (1,825 | ) | — | — | (1,825 | ) | ||||||||||||||||||||||
Change in accrued expenses related to capital expenditures | — | — | — | — | 76 | — | — | 76 | ||||||||||||||||||||||||
Purchases of cable systems, net | — | — | — | — | (676 | ) | — | — | (676 | ) | ||||||||||||||||||||||
Contribution to subsidiary | (89 | ) | (534 | ) | — | (1,022 | ) | — | — | 1,645 | — | |||||||||||||||||||||
Distributions from subsidiary | — | 6 | — | 630 | — | — | (636 | ) | — | |||||||||||||||||||||||
Other, net | — | 1 | — | — | (19 | ) | — | — | (18 | ) | ||||||||||||||||||||||
Net cash flows from investing activities | (89 | ) | (527 | ) | — | (392 | ) | (2,444 | ) | — | 1,009 | (2,443 | ) | |||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Borrowings of long-term debt | — | — | — | 2,000 | 4,782 | — | — | 6,782 | ||||||||||||||||||||||||
Repayments of long-term debt | — | — | — | (955 | ) | (5,565 | ) | — | — | (6,520 | ) | |||||||||||||||||||||
Borrowings (payments) loans payable - related parties | — | — | — | (93 | ) | 93 | — | — | — | |||||||||||||||||||||||
Payment for debt issuance costs | — | — | — | (25 | ) | (25 | ) | — | — | (50 | ) | |||||||||||||||||||||
Purchase of treasury stock | (15 | ) | — | — | — | — | — | — | (15 | ) | ||||||||||||||||||||||
Proceeds from exercise of options and warrants | 104 | — | — | — | — | — | — | 104 | ||||||||||||||||||||||||
Contributions from parent | — | 534 | — | 89 | 1,022 | — | (1,645 | ) | — | |||||||||||||||||||||||
Distributions to parent | — | (5 | ) | — | (1 | ) | (630 | ) | — | 636 | — | |||||||||||||||||||||
Other, net | — | — | — | — | (2 | ) | — | — | (2 | ) | ||||||||||||||||||||||
Net cash flows from financing activities | 89 | 529 | — | 1,015 | (325 | ) | — | (1,009 | ) | 299 | ||||||||||||||||||||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (1 | ) | 5 | — | — | 10 | — | — | 14 | |||||||||||||||||||||||
CASH AND CASH EQUIVALENTS, beginning of period | 1 | — | — | — | 6 | — | — | 7 | ||||||||||||||||||||||||
CASH AND CASH EQUIVALENTS, end of period | $ | — | $ | 5 | $ | — | $ | — | $ | 16 | $ | — | $ | — | $ | 21 | ||||||||||||||||
Charter Communications, Inc. | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2012 | ||||||||||||||||||||||||||||||||
Charter | Intermediate Holding Companies | CCOH Safari | CCO Holdings | Charter Operating and Restricted Subsidiaries | Unrestricted Subsidiary - CCO Safari | Eliminations | Charter Consolidated | |||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Consolidated net income (loss) | $ | (317 | ) | $ | (92 | ) | $ | — | $ | (35 | ) | $ | 548 | $ | — | $ | (408 | ) | $ | (304 | ) | |||||||||||
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||||||||||||||||||||||||||||||||
Depreciation and amortization | — | — | — | — | 1,713 | — | — | 1,713 | ||||||||||||||||||||||||
Noncash interest expense | — | (23 | ) | — | 18 | 50 | — | — | 45 | |||||||||||||||||||||||
(Gain) loss on extinguishment of debt | — | (46 | ) | — | — | 101 | — | — | 55 | |||||||||||||||||||||||
Deferred income taxes | 252 | — | — | — | (2 | ) | — | — | 250 | |||||||||||||||||||||||
Equity in (income) losses of subsidiaries | 63 | 35 | — | (506 | ) | — | — | 408 | — | |||||||||||||||||||||||
Other, net | — | — | — | — | 45 | — | — | 45 | ||||||||||||||||||||||||
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions: | ||||||||||||||||||||||||||||||||
Accounts receivable | (1 | ) | 1 | — | — | 34 | — | — | 34 | |||||||||||||||||||||||
Prepaid expenses and other assets | 2 | 8 | — | — | (18 | ) | — | — | (8 | ) | ||||||||||||||||||||||
Accounts payable, accrued liabilities and other | — | (87 | ) | — | 47 | 86 | — | — | 46 | |||||||||||||||||||||||
Receivables from and payables to related party | (1 | ) | (1 | ) | — | (11 | ) | 13 | — | — | — | |||||||||||||||||||||
Net cash flows from operating activities | (2 | ) | (205 | ) | — | (487 | ) | 2,570 | — | — | 1,876 | |||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Purchases of property, plant and equipment | — | — | — | — | (1,745 | ) | — | — | (1,745 | ) | ||||||||||||||||||||||
Change in accrued expenses related to capital expenditures | — | — | — | — | 13 | — | — | 13 | ||||||||||||||||||||||||
Sales of cable systems, net | — | — | — | — | 19 | — | — | 19 | ||||||||||||||||||||||||
Contribution to subsidiary | (14 | ) | (71 | ) | — | (2,330 | ) | — | — | 2,415 | — | |||||||||||||||||||||
Distributions from subsidiary | 12 | 1,891 | — | 2,014 | — | — | (3,917 | ) | — | |||||||||||||||||||||||
Other, net | — | — | — | — | (24 | ) | — | — | (24 | ) | ||||||||||||||||||||||
Net cash flows from investing activities | (2 | ) | 1,820 | — | (316 | ) | (1,737 | ) | — | (1,502 | ) | (1,737 | ) | |||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Borrowings of long-term debt | — | — | — | 2,984 | 2,846 | — | — | 5,830 | ||||||||||||||||||||||||
Repayments of long-term debt | — | (1,621 | ) | — | — | (4,280 | ) | — | — | (5,901 | ) | |||||||||||||||||||||
Borrowings (payments) loans payable - related parties | — | — | — | (314 | ) | 314 | — | — | — | |||||||||||||||||||||||
Payment for debt issuance costs | — | — | — | (39 | ) | (14 | ) | — | — | (53 | ) | |||||||||||||||||||||
Purchase of treasury stock | (11 | ) | — | — | — | — | — | — | (11 | ) | ||||||||||||||||||||||
Proceeds from exercise of options | 15 | — | — | — | — | — | — | 15 | ||||||||||||||||||||||||
Contributions from parent | — | 84 | — | 1 | 2,330 | — | (2,415 | ) | — | |||||||||||||||||||||||
Distributions to parent | — | (72 | ) | — | (1,831 | ) | (2,014 | ) | — | 3,917 | — | |||||||||||||||||||||
Other, net | 1 | (6 | ) | — | — | (9 | ) | — | — | (14 | ) | |||||||||||||||||||||
Net cash flows from financing activities | 5 | (1,615 | ) | — | 801 | (827 | ) | — | 1,502 | (134 | ) | |||||||||||||||||||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 1 | — | — | (2 | ) | 6 | — | — | 5 | |||||||||||||||||||||||
CASH AND CASH EQUIVALENTS, beginning of period | — | — | — | 2 | — | — | — | 2 | ||||||||||||||||||||||||
CASH AND CASH EQUIVALENTS, end of period | $ | 1 | $ | — | $ | — | $ | — | $ | 6 | $ | — | $ | — | $ | 7 | ||||||||||||||||
Organization_and_Basis_of_Pres1
Organization and Basis of Presentation (Details) (Charter Holdco [Member]) | Dec. 31, 2014 |
Charter Holdco [Member] | |
Entity Information [Line Items] | |
Equity Method Investment, Ownership Percentage (percentage) | 100.00% |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Significant Accounting Policies | |||
Impairment of long-lived assets held-for-use | $0 | $0 | $0 |
Governmental imposed fees passed through to the customer | 283,000,000 | 263,000,000 | 260,000,000 |
Programming fee incentive | 19,000,000 | 7,000,000 | 6,000,000 |
Programming | 2,459,000,000 | 2,146,000,000 | 1,965,000,000 |
Advertising expense | 380,000,000 | 357,000,000 | 325,000,000 |
Stock compensation expense | $55,000,000 | $48,000,000 | $50,000,000 |
Risk free interest rate (percentage) | 2.00% | 1.50% | 1.50% |
Volatility rate (percentage) | 36.90% | 37.80% | 38.40% |
Expected lives (in years) | 6 years 6 months | 6 years 4 months | 6 years 4 months |
Cost of equity (percentage) | 16.20% | 16.20% | |
Minimum [Member] | Cable distribution systems [Member] | |||
Significant Accounting Policies | |||
Property, plant and equipment, useful life (in years) | 7 years | ||
Minimum [Member] | Customer equipment and installations [Member] | |||
Significant Accounting Policies | |||
Property, plant and equipment, useful life (in years) | 3 years | ||
Minimum [Member] | Vehicles and equipment [Member] | |||
Significant Accounting Policies | |||
Property, plant and equipment, useful life (in years) | 3 years | ||
Minimum [Member] | Buildings and leashold improvements [Member] | |||
Significant Accounting Policies | |||
Property, plant and equipment, useful life (in years) | 15 years | ||
Minimum [Member] | Furniture, fixtures and equipment [Member] | |||
Significant Accounting Policies | |||
Property, plant and equipment, useful life (in years) | 6 years | ||
Maximum [Member] | Cable distribution systems [Member] | |||
Significant Accounting Policies | |||
Property, plant and equipment, useful life (in years) | 20 years | ||
Maximum [Member] | Customer equipment and installations [Member] | |||
Significant Accounting Policies | |||
Property, plant and equipment, useful life (in years) | 8 years | ||
Maximum [Member] | Vehicles and equipment [Member] | |||
Significant Accounting Policies | |||
Property, plant and equipment, useful life (in years) | 6 years | ||
Maximum [Member] | Buildings and leashold improvements [Member] | |||
Significant Accounting Policies | |||
Property, plant and equipment, useful life (in years) | 40 years | ||
Maximum [Member] | Furniture, fixtures and equipment [Member] | |||
Significant Accounting Policies | |||
Property, plant and equipment, useful life (in years) | 10 years |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Revenue By Product Line) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Product Information | |||||||||||
Revenues | $2,360 | $2,287 | $2,259 | $2,202 | $2,148 | $2,118 | $1,972 | $1,917 | $9,108 | $8,155 | $7,504 |
Video [Member] | |||||||||||
Product Information | |||||||||||
Revenues | 4,443 | 4,040 | 3,649 | ||||||||
Internet [Member] | |||||||||||
Product Information | |||||||||||
Revenues | 2,576 | 2,186 | 1,866 | ||||||||
Voice [Member] | |||||||||||
Product Information | |||||||||||
Revenues | 575 | 644 | 828 | ||||||||
Commercial [Member] | |||||||||||
Product Information | |||||||||||
Revenues | 993 | 812 | 648 | ||||||||
Advertising sales [Member] | |||||||||||
Product Information | |||||||||||
Revenues | 341 | 291 | 334 | ||||||||
Other [Member] | |||||||||||
Product Information | |||||||||||
Revenues | $180 | $182 | $179 |
Acquisitions_and_Dispositions_2
Acquisitions and Dispositions (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Jul. 01, 2013 | |
Business Acquisition [Line Items] | ||||
Principal Amount, senior notes | $14,248,000,000 | $21,092,000,000 | ||
Bresnan [Member] | ||||
Business Acquisition [Line Items] | ||||
Purchase price | 1,625,000,000 | |||
Pro forma revenues | 8,419,000,000 | 8,017,000,000 | ||
Pro forma net loss | -194,000,000 | -392,000,000 | ||
Pro forma loss per common share, basic and diluted (in dollars per share) | ($1.90) | ($3.93) | ||
Comcast Transaction [Member] | ||||
Business Acquisition [Line Items] | ||||
Net number of TWC customers to be acquired by Charter | 1,300,000 | |||
Number of TWC customers to be acquired by Charter | 1,400,000 | |||
Number of TWC customers to be acquired in the Asset Exchange | 1,500,000 | |||
Number of Charter customers divested in the Asset Exchange | 1,600,000 | |||
Amount of commitments from financial institutions - term loan facilities | 8,400,000,000 | |||
Amount of commitments from financial institutions - revolving facility | 500,000,000 | |||
New indebtedness of Charter | 7,200,000,000 | |||
Equity Method Investment, Ownership Percentage (percentage) | 100.00% | |||
New Charter's percent ownership in SpinCo (percentage) | 33.00% | |||
Number of customers served by SpinCo | 2,500,000 | |||
Comcast shareholder's percent ownership in SpinCo (percentage) | 67.00% | |||
Leverage multiple | 5 | |||
Management fee percent (percentage) | 4.25% | |||
2014 EBITDA multiple | 7.125 | |||
Charter Operating [Member] | Comcast Transaction [Member] | ||||
Business Acquisition [Line Items] | ||||
Amount of committed, but not issued, term loans from financial institutions | 1,400,000,000 | |||
Charter Operating [Member] | Term Loan E [Member] | ||||
Business Acquisition [Line Items] | ||||
Principal Amount, credit facilities | 1,500,000,000 | |||
Charter Operating [Member] | Term Loan E [Member] | Bresnan [Member] | ||||
Business Acquisition [Line Items] | ||||
Principal Amount, credit facilities | 1,500,000,000 | |||
CCO Safari [Member] | Term Loan G [Member] | ||||
Business Acquisition [Line Items] | ||||
Principal Amount, credit facilities | 0 | 3,500,000,000 | ||
CCO Safari [Member] | Term Loan G [Member] | Comcast Transaction [Member] | ||||
Business Acquisition [Line Items] | ||||
Principal Amount, credit facilities | 3,500,000,000 | |||
CCOH Safari, LLC [Member] | ||||
Business Acquisition [Line Items] | ||||
Equity Method Investment, Ownership Percentage (percentage) | 100.00% | |||
CCOH Safari, LLC [Member] | Comcast Transaction [Member] | ||||
Business Acquisition [Line Items] | ||||
Principal Amount, senior notes | 3,500,000,000 | |||
CCOH Safari, LLC [Member] | 5.50% senior notes due December 1, 2022 [Member] | ||||
Business Acquisition [Line Items] | ||||
Principal Amount, senior notes | 0 | 1,500,000,000 | ||
Stated interest rate (percentage) | 5.50% | |||
CCOH Safari, LLC [Member] | 5.50% senior notes due December 1, 2022 [Member] | Comcast Transaction [Member] | ||||
Business Acquisition [Line Items] | ||||
Principal Amount, senior notes | 1,500,000,000 | |||
Stated interest rate (percentage) | 5.50% | |||
CCOH Safari, LLC [Member] | 5.75% senior notes due December 1, 2024 [Member] | ||||
Business Acquisition [Line Items] | ||||
Principal Amount, senior notes | 0 | 2,000,000,000 | ||
Stated interest rate (percentage) | 5.75% | |||
CCOH Safari, LLC [Member] | 5.75% senior notes due December 1, 2024 [Member] | Comcast Transaction [Member] | ||||
Business Acquisition [Line Items] | ||||
Principal Amount, senior notes | $2,000,000,000 | |||
Stated interest rate (percentage) | 5.75% |
Allowance_for_Doubtful_Account2
Allowance for Doubtful Accounts (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||
Balance, beginning of period | $19 | $14 | $16 |
Charged to expense | 122 | 101 | 105 |
Uncollected balances written off, net of recoveries | -119 | -96 | -107 |
Balance, end of period | $22 | $19 | $14 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | $13,857,000,000 | $12,768,000,000 | |
Less: accumulated depreciation | -5,484,000,000 | -4,787,000,000 | |
Property, Plant and Equipment, Net | 8,373,000,000 | 7,981,000,000 | |
Depreciation | 1,800,000,000 | 1,600,000,000 | 1,400,000,000 |
Property, Plant and Equipment, Additions | 515,000,000 | ||
Cable distributions systems [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 7,919,000,000 | 7,556,000,000 | |
Customer equipment and installations [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 4,388,000,000 | 4,061,000,000 | |
Vehicles and equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 335,000,000 | 270,000,000 | |
Buildings and leasehold improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 499,000,000 | 425,000,000 | |
Furniture, fixtures and equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | $716,000,000 | $456,000,000 |
Franchises_Goodwill_and_Other_3
Franchises, Goodwill and Other Intangible Assets Indefinite and Finite-Lived Intangibles (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Indefinite-lived intangible assets: [Abstract] | ||
Goodwill | 1,168 | $1,177 |
Total indefinite lived intangible assets | 7,337 | 7,348 |
Finite-lived intangible assets [Abstract] | ||
Gross carrying amount | 2,767 | 2,747 |
Accumulated amortization | 1,571 | 1,272 |
Net carrying amount | 1,196 | 1,475 |
Customer Relationships [Member] | ||
Finite-lived intangible assets [Abstract] | ||
Gross carrying amount | 2,616 | 2,617 |
Accumulated amortization | 1,511 | 1,228 |
Net carrying amount | 1,105 | 1,389 |
Other Intangible Assets [Member] | ||
Finite-lived intangible assets [Abstract] | ||
Gross carrying amount | 151 | 130 |
Accumulated amortization | 60 | 44 |
Net carrying amount | 91 | 86 |
Franchises [Member] | ||
Indefinite-lived intangible assets: [Abstract] | ||
Indefinite lived intangible assets, gross | 6,006 | 6,009 |
Goodwill [Member] | ||
Indefinite-lived intangible assets: [Abstract] | ||
Goodwill | 1,168 | 1,177 |
Trademarks [Member] | ||
Indefinite-lived intangible assets: [Abstract] | ||
Indefinite lived intangible assets, gross | 159 | 158 |
Other Intangible Assets [Member] | ||
Indefinite-lived intangible assets: [Abstract] | ||
Indefinite lived intangible assets, gross | 4 | $4 |
Minimum [Member] | Customer Relationships [Member] | ||
Finite-lived intangible assets [Abstract] | ||
Customer relationships, useful life (in years) | 8 years | |
Maximum [Member] | Customer Relationships [Member] | ||
Finite-lived intangible assets [Abstract] | ||
Customer relationships, useful life (in years) | 15 years |
Franchises_Goodwill_and_Other_4
Franchises, Goodwill and Other Intangible Assets Other Intangible Assets Amortization Expense (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Finite-lived intangible assets, amortization expense | $299 | $299 | $293 |
Future_Amortization_Expense_De
Future Amortization Expense (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Goodwill and Intangible Assets Disclosure [Abstract] | ||
2015 | $267 | |
2016 | 234 | |
2017 | 200 | |
2018 | 165 | |
2019 | 131 | |
Thereafter | 199 | |
Net carrying amount | $1,196 | $1,475 |
Accounts_Payable_and_Accrued_L2
Accounts Payable and Accrued Liabilities (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Accounts Payable and Accrued Liabilities, Current [Abstract] | ||
Accounts payable - trade | $140 | $91 |
Accrued capital expenditures | 268 | 235 |
Deferred revenue | 85 | 90 |
Accrued liabilities: | ||
Interest | 212 | 195 |
Programming costs | 430 | 379 |
Franchise related fees | 65 | 62 |
Compensation | 169 | 156 |
Other | 266 | 259 |
Total | $1,635 | $1,467 |
LongTerm_Debt_Details
Long-Term Debt (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | |
Debt Instrument [Line Items] | ||||
Principal Amount, senior notes | $21,092,000,000 | $14,248,000,000 | ||
Accreted Value | 21,023,000,000 | 14,181,000,000 | ||
Loss on extinguishment of debt | 0 | 123,000,000 | 55,000,000 | |
Repayments of Principal in Next Twelve Months | 91,000,000 | |||
Repayments of Principal in Year Two | 127,000,000 | |||
Repayments of Principal in Year Three | 1,137,000,000 | |||
Repayments of Principal in Year Four | 967,000,000 | |||
Repayments of Principal in Year Five | 1,462,000,000 | |||
Repayments of principal after year five | 17,308,000,000 | |||
CCOH Safari, LLC [Member] | ||||
Debt Instrument [Line Items] | ||||
Accreted Value | 3,500,000,000 | 0 | ||
Loss on extinguishment of debt | 0 | 0 | ||
Equity Method Investment, Ownership Percentage (percentage) | 100.00% | |||
CCO Holdings [Member] | ||||
Debt Instrument [Line Items] | ||||
Accreted Value | 10,331,000,000 | 10,671,000,000 | ||
Loss on extinguishment of debt | 0 | 65,000,000 | 0 | |
Charter Operating [Member] | ||||
Debt Instrument [Line Items] | ||||
Loss on extinguishment of debt | 0 | 0 | 9,000,000 | |
CCH II [Member] | ||||
Debt Instrument [Line Items] | ||||
Loss on extinguishment of debt | 0 | 0 | -46,000,000 | |
5.50% senior notes due December 1, 2022 [Member] | CCOH Safari, LLC [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal Amount, senior notes | 1,500,000,000 | 0 | ||
Accreted Value | 1,500,000,000 | 0 | ||
Stated interest rate (percentage) | 5.50% | |||
5.75% senior notes due December 1, 2024 [Member] | CCOH Safari, LLC [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal Amount, senior notes | 2,000,000,000 | 0 | ||
Accreted Value | 2,000,000,000 | 0 | ||
Stated interest rate (percentage) | 5.75% | |||
7.250% senior notes due October 30, 2017 [Member] | CCO Holdings [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal Amount, senior notes | 1,000,000,000 | 1,000,000,000 | ||
Accreted Value | 1,000,000,000 | 1,000,000,000 | ||
Stated interest rate (percentage) | 7.25% | |||
7.000% senior notes due January 15, 2019 [Member] | CCO Holdings [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal Amount, senior notes | 1,400,000,000 | 1,400,000,000 | ||
Accreted Value | 1,394,000,000 | 1,393,000,000 | ||
Stated interest rate (percentage) | 7.00% | |||
8.125% senior notes due April 30, 2020 [Member] | CCO Holdings [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal Amount, senior notes | 700,000,000 | 700,000,000 | ||
Accreted Value | 700,000,000 | 700,000,000 | ||
Stated interest rate (percentage) | 8.13% | |||
7.375% senior notes due June 1, 2020 [Member] | CCO Holdings [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal Amount, senior notes | 750,000,000 | 750,000,000 | ||
Accreted Value | 750,000,000 | 750,000,000 | ||
Stated interest rate (percentage) | 7.38% | |||
5.250% senior notes due March 15, 2021 [Member] | CCO Holdings [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal Amount, senior notes | 500,000,000 | 500,000,000 | ||
Accreted Value | 500,000,000 | 500,000,000 | ||
Stated interest rate (percentage) | 5.25% | |||
6.500% senior notes due April 30, 2021 [Member] | CCO Holdings [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal Amount, senior notes | 1,500,000,000 | 1,500,000,000 | ||
Accreted Value | 1,500,000,000 | 1,500,000,000 | ||
Stated interest rate (percentage) | 6.50% | |||
6.625% senior notes due January 31, 2022 [Member] | CCO Holdings [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal Amount, senior notes | 750,000,000 | 750,000,000 | ||
Accreted Value | 747,000,000 | 747,000,000 | ||
Stated interest rate (percentage) | 6.63% | |||
5.250% senior notes due September 30, 2022 [Member] | CCO Holdings [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal Amount, senior notes | 1,250,000,000 | 1,250,000,000 | ||
Accreted Value | 1,240,000,000 | 1,239,000,000 | ||
Stated interest rate (percentage) | 5.25% | |||
5.125% Senior Notes Due February 15, 2023 [Member] | CCO Holdings [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal Amount, senior notes | 1,000,000,000 | 1,000,000,000 | ||
Accreted Value | 1,000,000,000 | 1,000,000,000 | ||
Stated interest rate (percentage) | 5.13% | |||
5.750% senior notes due September 1, 2023 [Member] | CCO Holdings [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal Amount, senior notes | 500,000,000 | 500,000,000 | ||
Accreted Value | 500,000,000 | 500,000,000 | ||
Stated interest rate (percentage) | 5.75% | |||
5.750% senior notes due January 15, 2024 [Member] | CCO Holdings [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal Amount, senior notes | 1,000,000,000 | 1,000,000,000 | ||
Accreted Value | 1,000,000,000 | 1,000,000,000 | ||
Stated interest rate (percentage) | 5.75% | |||
CCO Holdings Credit facility due September 6, 2014 [Member] | CCO Holdings [Member] | ||||
Debt Instrument [Line Items] | ||||
Accreted Value | 0 | 342,000,000 | ||
Principal Amount, credit facilities | 0 | 350,000,000 | ||
Charter Operating Credit Facilities [Member] | Charter Operating [Member] | ||||
Debt Instrument [Line Items] | ||||
Accreted Value | 3,709,000,000 | 3,510,000,000 | ||
Principal Amount, credit facilities | 3,742,000,000 | 3,548,000,000 | ||
Credit Facility Availability | 817,000,000 | |||
Loss on extinguishment of debt | 0 | 58,000,000 | 92,000,000 | |
Debt Default, Minimum Principal Amount, Failure Pay By Entity Subsidiaries | 100,000,000 | |||
Charter Operating Credit Facilities [Member] | Charter Operating [Member] | Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument Leverage Ratio | 3.5 | |||
Charter Operating Credit Facilities [Member] | Charter Operating [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Change of control threshold for voting stock in event of debt default (percentage) | 50.00% | |||
Term Loan G [Member] | CCO Safari [Member] | ||||
Debt Instrument [Line Items] | ||||
Accreted Value | 3,483,000,000 | 0 | ||
Principal Amount, credit facilities | 3,500,000,000 | 0 | ||
Debt Discount, Percentage of Principal (percentage) | 99.50% | |||
Term Loan A-2 [Member] | Charter Operating [Member] | ||||
Debt Instrument [Line Items] | ||||
Credit Facility Availability | 500,000,000 | |||
Term Loan A [Member] | Charter Operating [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal Amount, credit facilities | 684,000,000 | |||
Repayments of Principal in Next Twelve Months | 38,000,000 | |||
Repayments of Principal in Year Two | 66,000,000 | |||
Repayments of Principal in Year Three | 75,000,000 | |||
Term Loan E [Member] | Charter Operating [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal Amount, credit facilities | 1,500,000,000 | |||
Periodic Payment | 15,000,000 | |||
Term Loan F [Member] | Charter Operating [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal Amount, credit facilities | 1,200,000,000 | |||
Periodic Payment | 12,000,000 | |||
Revolving Loan due 2018 [Member] | Charter Operating [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal Amount, credit facilities | 399,000,000 | |||
Maximum Borrowing Capacity | $1,300,000,000 | |||
Commitment Fee Percentage (percentage) | 0.30% | |||
Senior Notes Payable [Member] | CCOH Safari, LLC [Member] | ||||
Debt Instrument [Line Items] | ||||
Maximum Redemption Percentage (percentage) | 40.00% | |||
Redemption Premium Percent (percentage) | 101.00% | |||
Senior Notes Payable [Member] | CCOH Safari, LLC [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Redemption Price (Percentage) | 100.00% | |||
Senior Notes Payable [Member] | CCO Holdings [Member] | ||||
Debt Instrument [Line Items] | ||||
Maximum Redemption Percentage (percentage) | 35.00% | |||
Redemption Premium Percent (percentage) | 101.00% | |||
Senior Notes Payable [Member] | CCO Holdings [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Redemption Price (Percentage) | 100.00% | |||
London Interbank Offered Rate (LIBOR) [Member] | Charter Operating Credit Facilities [Member] | Charter Operating [Member] | ||||
Debt Instrument [Line Items] | ||||
Interest Rate at Period End (percentage) | 0.17% | 0.17% | ||
London Interbank Offered Rate (LIBOR) [Member] | Term Loan G [Member] | CCO Safari [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis Spread on Variable Rate (percentage) | 3.50% | |||
London Interbank Offered Rate (LIBOR) [Member] | Term Loan G [Member] | CCO Safari [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Libor Floor (percentage) | 0.75% | |||
London Interbank Offered Rate (LIBOR) [Member] | Term Loan A [Member] | Charter Operating [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis Spread on Variable Rate (percentage) | 2.00% | |||
London Interbank Offered Rate (LIBOR) [Member] | Term Loan E [Member] | Charter Operating [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis Spread on Variable Rate (percentage) | 2.25% | |||
London Interbank Offered Rate (LIBOR) [Member] | Term Loan E [Member] | Charter Operating [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Libor Floor (percentage) | 0.75% | |||
London Interbank Offered Rate (LIBOR) [Member] | Term Loan F [Member] | Charter Operating [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis Spread on Variable Rate (percentage) | 2.25% | |||
London Interbank Offered Rate (LIBOR) [Member] | Term Loan F [Member] | Charter Operating [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Libor Floor (percentage) | 0.75% | |||
London Interbank Offered Rate (LIBOR) [Member] | Revolving Loan due 2018 [Member] | Charter Operating [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis Spread on Variable Rate (percentage) | 2.00% | |||
Consolidated leverage ratio [Member] | Charter Operating Credit Facilities [Member] | Charter Operating [Member] | Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument Leverage Ratio | 5 | |||
Consolidated leverage ratio [Member] | Charter Operating Credit Facilities [Member] | Charter Operating [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument Leverage Ratio | 1 | |||
Consolidated first lien leverage ratio [Member] | Charter Operating Credit Facilities [Member] | Charter Operating [Member] | Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument Leverage Ratio | 4 | |||
Consolidated first lien leverage ratio [Member] | Charter Operating Credit Facilities [Member] | Charter Operating [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument Leverage Ratio | 1 |
Treasury_Stock_Details
Treasury Stock (Details) (USD $) | 12 Months Ended | 1 Months Ended | 2 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2012 | Dec. 31, 2011 | Jan. 31, 2012 |
Equity, Class of Treasury Stock [Line Items] | ||||||
Total consideration of stock purchase | $19 | $15 | $11 | |||
Class A Common Stock [Member] | ||||||
Equity, Class of Treasury Stock [Line Items] | ||||||
Number of shares purchased (in shares) | 141,257 | 150,258 | 178,749 | |||
Treasury Stock, Shares, Retired (in shares) | 141,257 | 150,258 | ||||
Class A Common Stock [Member] | Income Tax Withholding [Member] | ||||||
Equity, Class of Treasury Stock [Line Items] | ||||||
Total consideration of stock purchase | 19 | 15 | 9 | |||
Shares withheld in payment of income tax withholding owed by employees (in shares) | 141,257 | 150,258 | 129,417 | |||
Class A Common Stock [Member] | Shareholder [Member] | ||||||
Equity, Class of Treasury Stock [Line Items] | ||||||
Number of shares purchased (in shares) | 49,332 | 700,668 | 750,000 | |||
Price per share paid (in dollars per share) | $55.18 | |||||
Total consideration of stock purchase | $41 |
Common_Stock_Details
Common Stock (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Class A Common Stock [Member] | |||
Common Stock [Line Items] | |||
Votes per share (in votes) | 1 | ||
Stock issuances from exercise of warrants (in shares) | 5,243,167 | 4,481,656 | 179,850 |
Proceeds from Warrant Exercises | $90 | $76 | |
Class B Common Stock [Member] | |||
Common Stock [Line Items] | |||
Common stock voting interest (percentage) | 35.00% | ||
Stock issuances from exercise of warrants (in shares) | 0 | 0 | 0 |
Common_Stock_Activity_Details
Common Stock Activity (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Class A Common Stock [Member] | |||
Common Stock [Roll Forward] | |||
BALANCE | 106,144,075 | 101,176,247 | 100,570,418 |
Option exercises | 640,342 | 543,221 | 370,715 |
Restricted Stock issuances, net of cancellations | 9,090 | 4,879 | 182,537 |
Stock issuances from exercise of warrants | 5,243,167 | 4,481,656 | 179,850 |
Restricted stock unit vesting | 104,270 | 88,330 | 51,476 |
Purchase of treasury stock (see Note 9) | -141,257 | -150,258 | -178,749 |
BALANCE | 111,999,687 | 106,144,075 | 101,176,247 |
Class B Common Stock [Member] | |||
Common Stock [Roll Forward] | |||
BALANCE | 0 | 0 | 0 |
Option exercises | 0 | 0 | 0 |
Restricted Stock issuances, net of cancellations | 0 | 0 | 0 |
Stock issuances from exercise of warrants | 0 | 0 | 0 |
Restricted stock unit vesting | 0 | 0 | 0 |
Purchase of treasury stock (see Note 9) | 0 | 0 | 0 |
BALANCE | 0 | 0 | 0 |
Derivative_instruments_effect_
Derivative instruments effect on the Company's consolidated balance sheets (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ||
Accumulated other comprehensive loss | ($22) | ($41) |
Accrued interest [Member] | Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value of interest rate derivatives not designated as hedges | 2 | 8 |
Other long-term liabilities [Member] | Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value of interest rate derivatives not designated as hedges | 16 | 22 |
Accumulated other comprehensive loss [Member] | Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Accumulated other comprehensive loss | ($22) | ($41) |
Derivative_instruments_effect_1
Derivative instruments effect on the Company's consolidated statement of operations (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Derivatives, Gain (Loss) [Line Items] | |||
Gain (loss) on derivative instruments, net | ($7) | $11 | $0 |
Gain (loss) on derivative instruments, net [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | |||
Derivatives, Gain (Loss) [Line Items] | |||
Loss reclassified from accumulated other comprehensive loss into earnings | -19 | -27 | 0 |
Gain (loss) on derivative instruments, net | -7 | 11 | 0 |
Interest Expense [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | |||
Derivatives, Gain (Loss) [Line Items] | |||
Loss reclassified from accumulated other comprehensive loss into earnings | 0 | -10 | -36 |
Not Designated as Hedging Instrument [Member] | Gain (loss) on derivative instruments, net [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | |||
Derivatives, Gain (Loss) [Line Items] | |||
Change in fair value of interest rate derivative instruments not designated as cash flow hedges | $12 | $38 | $0 |
Accounting_for_Derivative_Inst3
Accounting for Derivative Instruments and Hedging Activities (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Cash Flow Hedge Loss to be Reclassified within Twelve Months | $9,000,000 | |
Derivative, Notional Amount | 1,400,000,000 | 2,200,000,000 |
Delayed start interest rate derivative instruments | 150,000,000 | |
Derivative, Notional Amount that expires in future period | $300,000,000 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Maximum amount invested in financial instrument per investment policy | $550 | ||
Weighted average pay rate for the Company's interest rate swap agreements (percentage) | 1.87% | 2.17% | |
Carrying Value | 21,023 | 14,181 | |
Asset Impairment Charges | 0 | 0 | 0 |
CCO Holdings debt [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Carrying Value | 13,831 | 10,329 | |
Credit facilities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Carrying Value | 7,192 | 3,852 | |
Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Money Market Funds | 4,112 | 0 | |
Commercial Paper | 0 | 0 | |
Interest Rate Derivatives | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | CCO Holdings debt [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value | 14,205 | 10,384 | |
Fair Value, Inputs, Level 1 [Member] | Credit facilities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value | 7,186 | 3,848 | |
Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Money Market Funds | 0 | 0 | |
Commercial Paper | 2,999 | 0 | |
Interest Rate Derivatives | 18 | 30 | |
Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Money Market Funds | 0 | 0 | |
Commercial Paper | 0 | 0 | |
Interest Rate Derivatives | $0 | $0 |
Operating_Costs_and_Expenses_D
Operating Costs and Expenses (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Costs and Expenses [Abstract] | |||
Programming | $2,459 | $2,146 | $1,965 |
Franchise, Regulatory and Connectivity | 428 | 399 | 383 |
Cost to Service Customers | 1,675 | 1,561 | 1,394 |
Marketing | 529 | 488 | 431 |
Other | 882 | 751 | 687 |
Operating costs and expenses | $5,973 | $5,345 | $4,860 |
Other_Operating_Expenses_Net_D
Other Operating Expenses, Net (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Other Income and Expenses [Abstract] | |||
Merger and acquisition costs | $38 | $16 | $1 |
Special charges, net | 14 | 23 | 20 |
(Gain) loss on sale of assets, net | 10 | 8 | -5 |
Other Operating Expenses, Net | $62 | $47 | $16 |
Stock_Compensation_Plans_Stock
Stock Compensation Plans Stock Compensation Plan - Other Disclosures (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares authorized under 2009 Stock Incentive Plan (in shares) | 14 | ||
Stock compensation expense | $55 | $48 | $50 |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expiration period, options (in years) | 10 years | ||
Total compensation cost not yet recognized | 66 | ||
Total compensation cost not yet recognized, period for recognition (in years) | 2 years | ||
Stock Options [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award vesting period (in years) | 4 years | ||
Stock Options [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award vesting period (in years) | 3 years | ||
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total compensation cost not yet recognized | 9 | ||
Total compensation cost not yet recognized, period for recognition (in years) | 1 year | ||
Restricted Stock [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award vesting period (in years) | 4 years | ||
Restricted Stock [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award vesting period (in years) | 1 year | ||
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total compensation cost not yet recognized | $26 | ||
Total compensation cost not yet recognized, period for recognition (in years) | 2 years | ||
Restricted Stock Units (RSUs) [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award vesting period (in years) | 4 years | ||
Restricted Stock Units (RSUs) [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award vesting period (in years) | 3 years |
Activity_for_the_Companys_stoc
Activity for the Company's stock options (Details) (Stock Options [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |||
Outstanding, beginning of period, shares | 3,142,000 | 3,552,000 | 4,018,000 |
Outstanding, beginning of period, weighted average exercise price | $59.86 | $54.35 | $49.53 |
Granted, shares | 1,234,000 | 276,000 | 813,000 |
Granted, weighted average exercise price | $136.75 | $108.89 | $69 |
Exercised, shares | -640,000 | -543,000 | -371,000 |
Exercised, weighted average exercise price | $52.50 | $51.22 | $40.57 |
Canceled, shares | -47,000 | -143,000 | -908,000 |
Canceled, weighted average exercise price | $104.57 | $50.54 | $51.74 |
Outstanding, end of period, shares | 3,689,000 | 3,142,000 | 3,552,000 |
Outstanding, end of period, weighted average exercise price | $86.29 | $59.86 | $54.35 |
Weighted average remaining contractual life (in years) | 7 years | 7 years | 8 years |
Options exercisable, end of period, shares | 1,317,000 | 1,128,000 | 469,000 |
Options exercisable, end of period, weighted average exercise price | $55.65 | $52.07 | $46.23 |
Weighted average fair value of options granted | $55.08 | $41.52 | $28.17 |
Stock_Compensation_Plans_Activ
Stock Compensation Plans Activity for the Company's restricted stock and restricted stock units (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Outstanding, beginning of period, shares | 653,000 | 928,000 | 1,115,000 |
Outstanding, beginning of period, weighted average grant price | $56.14 | $54.16 | $45.72 |
Granted, shares | 9,000 | 13,000 | 244,000 |
Granted, weighted average grant price | $138.57 | $101.81 | $60.48 |
Vested, shares | -231,000 | -280,000 | -370,000 |
Vested, weighted average grant price | $57.35 | $51.62 | $36.02 |
Canceled, shares | 0 | -8,000 | -61,000 |
Canceled, weighted average grant price | $0 | $56.50 | $35.25 |
Outstanding, end of period, shares | 431,000 | 653,000 | 928,000 |
Outstanding, end of period, weighted average grant price | $57.24 | $56.14 | $54.16 |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Outstanding, beginning of period, shares | 288,000 | 327,000 | 273,000 |
Outstanding, beginning of period, weighted average grant price | $74.73 | $61.79 | $54.86 |
Granted, shares | 153,000 | 73,000 | 142,000 |
Granted, weighted average grant price | $136.54 | $109.96 | $71.33 |
Vested, shares | -104,000 | -88,000 | -52,000 |
Vested, weighted average grant price | $70.23 | $61.17 | $56.59 |
Canceled, shares | -12,000 | -24,000 | -36,000 |
Canceled, weighted average grant price | $112.53 | $55.28 | $54.47 |
Outstanding, end of period, shares | 325,000 | 288,000 | 327,000 |
Outstanding, end of period, weighted average grant price | $104.01 | $74.73 | $61.79 |
Income_Taxes_Current_and_defer
Income Taxes - Current and deferred income tax expense (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Current expense: | |||
Federal income taxes | ($1) | ($1) | $0 |
State income taxes | -2 | -7 | -7 |
Current income tax expense | -3 | -8 | -7 |
Deferred expense: | |||
Federal income taxes | -192 | -101 | -223 |
State income taxes | -41 | -11 | -27 |
Deferred income tax expense | -233 | -112 | -250 |
Income tax expense | ($236) | ($120) | ($257) |
Income_Taxes_Effective_tax_rat
Income Taxes - Effective tax rate differences from the applicable federal rate (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax [Line Items] | |||
Federal income tax rate | 35.00% | 35.00% | 35.00% |
Statutory federal income taxes | ($18) | $17 | $17 |
Statutory state income taxes, net | -2 | -7 | -7 |
Nondeductible expenses | -10 | -3 | -6 |
Change in valuation allowance | -203 | -127 | -264 |
State rate changes | -3 | 4 | 0 |
Other | 0 | -4 | 3 |
Income tax expense | -236 | -120 | -257 |
Cash Flow Hedging [Member] | |||
Income Tax [Line Items] | |||
Change in valuation allowance | $4 |
Income_Taxes_Deferred_tax_asse
Income Taxes - Deferred tax assets and liabilities (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Components of Deferred Tax Assets and Liabilities [Abstract] | ||
Goodwill | $251 | $274 |
Investment in partnership | 293 | 289 |
Loss carryforwards | 3,595 | 3,170 |
Other intangibles | 112 | 48 |
Accrued and other | 172 | 112 |
Total gross deferred tax assets | 4,423 | 3,893 |
Less: valuation allowance | -3,149 | -2,961 |
Deferred tax assets | 1,274 | 932 |
Indefinite life intangibles | -1,428 | -1,205 |
Property, plant and equipment | -1,247 | -901 |
Deferred tax liabilities | -2,922 | -2,347 |
Net deferred tax liabilities | -1,648 | -1,415 |
Indirect corporate subsidiaries [Member] | ||
Components of Deferred Tax Assets and Liabilities [Abstract] | ||
Indefinite life intangibles | -122 | -122 |
Other | ($125) | ($119) |
Income_Taxes_Textuals_Details
Income Taxes - Textuals (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | 1-May-13 |
Income Tax Contingency [Line Items] | ||||
Increase (Decrease) in Deferred Tax Liabilities | ($137) | |||
Deferred Income Tax Expense (Benefit) | 233 | 112 | 250 | |
Deferred Tax Assets, Net, Current | 26 | 16 | ||
Net deferred tax liabilities | 1,648 | 1,415 | ||
Operating Loss Carryforwards | 9,500 | |||
Restrictions expire in 2015 [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Operating Loss Carryforwards | 2,000 | |||
Restrictions expire in 2016 [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Operating Loss Carryforwards | 400 | |||
Restrictions expire in 2017 and thereafter [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Operating Loss Carryforwards | 226 | |||
Unrestricted [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Operating Loss Carryforwards | 5,300 | |||
Restricted [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Operating Loss Carryforwards | 4,200 | |||
Liberty Media [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Equity Method Investment, Ownership Percentage (percentage) | 27.00% | |||
Tax benefit to be recorded through equity when realized as a reduction of income tax payable [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Operating Loss Carryforwards | 129 | |||
Federal income taxes | ||||
Income Tax Contingency [Line Items] | ||||
Deferred tax assets subject to expiration | 3,300 | |||
State income taxes [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Deferred tax assets subject to expiration | 321 | |||
Charter Holdco Subsidiaries [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Net deferred tax liabilities | 236 | 226 | ||
Partnership Restructuring [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Deferred Income Tax Expense (Benefit) | 36 | |||
Step-up in tax basis, intangible assets | 405 | |||
Repayment of Charter Operating Credit Facility [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Deferred Income Tax Expense (Benefit) | $101 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | 1 Months Ended | 9 Months Ended | |||
Share data in Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-13 | Dec. 31, 2013 | 1-May-13 |
Related Party Transaction [Line Items] | ||||||
Related Party Transaction, Expenses from Transactions with Related Party | $346,000,000 | $305,000,000 | $247,000,000 | |||
Dr. John Malone's, a member of Charter's board of directors, ownership percentage in Discovery Communications, Inc. (percentage) | 4.50% | |||||
Dr. John Malone's, a member of Charter's board of directors, voting interest in Discovery Communications, Inc. for election of directors (percentage) | 28.90% | |||||
Dr. John Malone's, a member of Charter's board of directors, ownership percentage in Starz (percentage) | 10.10% | |||||
Dr. John Malone's, a member of Charter's board of directors, voting interest in Starz (percentage) | 45.50% | |||||
Liberty Media [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Number of shares acquired from beneficial owners (in shares) | 26.9 | |||||
Number of warrants acquired from beneficial owners (in warrants) | 1.1 | |||||
Amount paid for interest in Charter | 2,600,000,000 | |||||
Price paid per share for interest in Charter (in dollars per share) | $95.50 | |||||
Equity Method Investment, Ownership Percentage (percentage) | 27.00% | |||||
Equity method investment, maximum ownership percentage until January 2016 (percentage) | 35.00% | |||||
Equity method investment, maximum ownership percentage after January 2016 (percentage) | 39.99% | |||||
Limitation on percent of outstanding stock owned by Liberty | 5.00% | |||||
Liberty Interactive [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Dr. John Malone's, a member of Charter's board of directors, voting interest in Liberty Interactive Corp. (percentage) | 36.00% | |||||
Liberty Interactive Corp.'s ownership percentage in HSN, Inc. (percentage) | 37.60% | |||||
Percent of board members Liberty Interactive Corp. can elect to HSN Inc.'s board (percentage) | 20.00% | |||||
Related Party Transaction, Amounts of Transaction | $14,000,000 | $10,000,000 | ||||
Minimum [Member] | Liberty Media [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Equity Method Investment, Ownership Percentage (percentage) | 20.00% | |||||
Maximum [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Percent of total operating costs and expenses paid to Discovery and Starz (percentage) | 3.00% | 3.00% |
Commitments_and_Contingencies_2
Commitments and Contingencies (Schedule of Company Payment Obligations) (Details) (USD $) | Dec. 31, 2014 | |
In Millions, unless otherwise specified | ||
Contractual Obligation [Line Items] | ||
Contractual Obligations | $1,283 | |
Contractual Obligation, Due 2015 | 605 | |
Contractual Obligation, Due 2016 | 311 | |
Contractual Obligation, Due 2017 | 279 | |
Contractual Obligation, Due 2018 | 37 | |
Contractual Obligation, Due 2019 | 26 | |
Contractual Obligation, Due Thereafter | 25 | |
Capital and Operating Lease Obligations [Member] | ||
Contractual Obligation [Line Items] | ||
Contractual Obligations | 169 | [1] |
Contractual Obligation, Due 2015 | 43 | [1] |
Contractual Obligation, Due 2016 | 39 | [1] |
Contractual Obligation, Due 2017 | 35 | [1] |
Contractual Obligation, Due 2018 | 25 | [1] |
Contractual Obligation, Due 2019 | 16 | [1] |
Contractual Obligation, Due Thereafter | 11 | [1] |
Programming Minimum Commitments [Member] | ||
Contractual Obligation [Line Items] | ||
Contractual Obligations | 795 | [2] |
Contractual Obligation, Due 2015 | 271 | [2] |
Contractual Obligation, Due 2016 | 256 | [2] |
Contractual Obligation, Due 2017 | 235 | [2] |
Contractual Obligation, Due 2018 | 9 | [2] |
Contractual Obligation, Due 2019 | 10 | [2] |
Contractual Obligation, Due Thereafter | 14 | [2] |
Other [Member] | ||
Contractual Obligation [Line Items] | ||
Contractual Obligations | 319 | [3] |
Contractual Obligation, Due 2015 | 291 | [3] |
Contractual Obligation, Due 2016 | 16 | [3] |
Contractual Obligation, Due 2017 | 9 | [3] |
Contractual Obligation, Due 2018 | 3 | [3] |
Contractual Obligation, Due 2019 | 0 | [3] |
Contractual Obligation, Due Thereafter | $0 | [3] |
[1] | The Company leases certain facilities and equipment under non-cancelable operating leases. Leases and rental costs charged to expense for the years ended DecemberB 31, 2014, 2013 and 2012 were $43 million, $34 million, $28 million, respectively. | |
[2] | The Company pays programming fees under multi-year contracts ranging from three to ten years, typically based on a flat fee per customer, which may be fixed for the term, or may in some cases escalate over the term. Programming costs included in the accompanying statement of operations were $2.5 billion, $2.1 billion and $2.0 billion for the years ended DecemberB 31, 2014, 2013, and 2012 respectively. Certain of the Companybs programming agreements are based on a flat fee per month or have guaranteed minimum payments. The table sets forth the aggregate guaranteed minimum commitments under the Companybs programming contracts. | |
[3] | bOtherb represents other guaranteed minimum commitments, which consist primarily of commitments to the Company's customer premise equipment vendors. |
Commitments_and_Contingencies_3
Commitments and Contingencies (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Commitments and Contingencies [Line Items] | |||
Programming | $2,459 | $2,146 | $1,965 |
Franchise fees and other franchise-related costs | 208 | 190 | 176 |
Letters of credit, amount | 85 | ||
Minimum [Member] | |||
Commitments and Contingencies [Line Items] | |||
Programming fee term (in years) | 3 years | ||
Maximum [Member] | |||
Commitments and Contingencies [Line Items] | |||
Programming fee term (in years) | 10 years | ||
Operating Leases and Rentals [Member] | |||
Commitments and Contingencies [Line Items] | |||
Lease and rental costs charged to expense | 43 | 34 | 28 |
Utility Pole Rental Agreement [Member] | |||
Commitments and Contingencies [Line Items] | |||
Lease and rental costs charged to expense | 49 | 49 | 47 |
Montana Department of Revenue [Member] | |||
Commitments and Contingencies [Line Items] | |||
Property Tax Assessment on Cable Companies (percentage) | 3.00% | ||
Property Tax Assessment on Phone Companies (percentage) | 6.00% | ||
Reduction in Bresnan acquisition liabilities | 8 | ||
Reduction in expenses for post-acquisition settlements | $3 |
Employee_Benefit_Plan_Details
Employee Benefit Plan (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Compensation and Retirement Disclosure [Abstract] | |||
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Percent | 50.00% | ||
Defined Contribution Plan, Minimum Annual Contribution Per Employee, Percent | 1.00% | ||
Defined Contribution Plan, Employer Matching Contribution, Percent | 50.00% | ||
Defined Contribution Plan Maximum Employee Compensation for Matching Contribution, Percent | 6.00% | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $19 | $16 | $8 |
Unaudited_Quarterly_Financial_2
Unaudited Quarterly Financial Data (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Revenues | $2,360 | $2,287 | $2,259 | $2,202 | $2,148 | $2,118 | $1,972 | $1,917 | $9,108 | $8,155 | $7,504 |
Income from operations | 277 | 218 | 236 | 240 | 244 | 209 | 234 | 222 | 971 | 909 | 915 |
Net income (loss) | ($48) | ($53) | ($45) | ($37) | $39 | ($70) | ($96) | ($42) | ($183) | ($169) | ($304) |
Loss per common share, basic and diluted (in dollars per share) | ($0.44) | ($0.49) | ($0.42) | ($0.35) | ($0.68) | ($0.96) | ($0.42) | ($1.70) | ($1.65) | ($3.05) | |
Income per common share, basic (in dollars per share) | $0.38 | ||||||||||
Income per common share, diluted (in dollars per share) | $0.35 | ||||||||||
Weighted average common shares outstanding, basic and diluted (in shares) | 110,242,507 | 108,792,605 | 107,975,937 | 106,439,198 | 102,924,443 | 100,600,678 | 100,327,418 | 108,374,160 | 101,934,630 | 99,657,989 | |
Weighted average common shares outstanding, basic (in shares) | 103,836,535 | ||||||||||
Weighted average common shares outstanding, diluted (in shares) | 111,415,982 |
Condensed_Consolidating_Balanc
Condensed Consolidating Balance Sheets (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | ||||
CURRENT ASSETS: | ||||
Cash and cash equivalents | $3 | $21 | $7 | $2 |
Accounts receivable, net | 285 | 234 | ||
Receivables from related party | 0 | 0 | ||
Prepaid expenses and other current assets | 83 | 67 | ||
Total current assets | 371 | 322 | ||
RESTRICTED CASH AND CASH EQUIVALENTS | 7,111 | 0 | ||
INVESTMENT IN CABLE PROPERTIES: | ||||
Property, plant and equipment, net | 8,373 | 7,981 | ||
Franchises | 6,006 | 6,009 | ||
Customer relationships, net | 1,105 | 1,389 | ||
Goodwill | 1,168 | 1,177 | ||
Total investment in cable properties, net | 16,652 | 16,556 | ||
CC VIII PREFERRED INTEREST | 0 | 0 | ||
INVESTMENT IN SUBSIDIARIES | 0 | 0 | ||
LOANS RECEIVABLE - RELATED PARTY | 0 | 0 | ||
OTHER NONCURRENT ASSETS | 416 | 417 | ||
Total assets | 24,550 | 17,295 | ||
CURRENT LIABILITIES: | ||||
Accounts payable and accrued liabilities | 1,635 | 1,467 | ||
Payables to related party | 0 | 0 | ||
Total current liabilities | 1,635 | 1,467 | ||
LONG-TERM DEBT | 21,023 | 14,181 | ||
LOANS PAYABLE - RELATED PARTY | 0 | 0 | ||
DEFERRED INCOME TAXES | 1,674 | 1,431 | ||
OTHER LONG-TERM LIABILITIES | 72 | 65 | ||
Shareholders'/Member's equity | 146 | 151 | ||
Non-controlling interest | 0 | 0 | ||
Total shareholders'/member's equity | 146 | 151 | 149 | 409 |
Total liabilities and shareholders'/member's equity | 24,550 | 17,295 | ||
Charter [Member] | ||||
CURRENT ASSETS: | ||||
Cash and cash equivalents | 3 | 0 | 1 | 0 |
Accounts receivable, net | 4 | 4 | ||
Receivables from related party | 55 | 54 | ||
Prepaid expenses and other current assets | 23 | 14 | ||
Total current assets | 85 | 72 | ||
RESTRICTED CASH AND CASH EQUIVALENTS | 0 | |||
INVESTMENT IN CABLE PROPERTIES: | ||||
Property, plant and equipment, net | 0 | 0 | ||
Franchises | 0 | 0 | ||
Customer relationships, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Total investment in cable properties, net | 0 | 0 | ||
CC VIII PREFERRED INTEREST | 0 | 0 | ||
INVESTMENT IN SUBSIDIARIES | 1,509 | 1,295 | ||
LOANS RECEIVABLE - RELATED PARTY | 0 | 0 | ||
OTHER NONCURRENT ASSETS | 0 | 0 | ||
Total assets | 1,594 | 1,367 | ||
CURRENT LIABILITIES: | ||||
Accounts payable and accrued liabilities | 11 | 12 | ||
Payables to related party | 0 | 0 | ||
Total current liabilities | 11 | 12 | ||
LONG-TERM DEBT | 0 | 0 | ||
LOANS PAYABLE - RELATED PARTY | 0 | 0 | ||
DEFERRED INCOME TAXES | 1,437 | 1,204 | ||
OTHER LONG-TERM LIABILITIES | 0 | 0 | ||
Shareholders'/Member's equity | 146 | 151 | ||
Non-controlling interest | 0 | 0 | ||
Total shareholders'/member's equity | 146 | 151 | ||
Total liabilities and shareholders'/member's equity | 1,594 | 1,367 | ||
Intermediate Holding Companies [Member] | ||||
CURRENT ASSETS: | ||||
Cash and cash equivalents | 0 | 5 | 0 | 0 |
Accounts receivable, net | 6 | 4 | ||
Receivables from related party | 221 | 170 | ||
Prepaid expenses and other current assets | 10 | 10 | ||
Total current assets | 237 | 189 | ||
RESTRICTED CASH AND CASH EQUIVALENTS | 0 | |||
INVESTMENT IN CABLE PROPERTIES: | ||||
Property, plant and equipment, net | 29 | 30 | ||
Franchises | 0 | 0 | ||
Customer relationships, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Total investment in cable properties, net | 29 | 30 | ||
CC VIII PREFERRED INTEREST | 436 | 392 | ||
INVESTMENT IN SUBSIDIARIES | 482 | 325 | ||
LOANS RECEIVABLE - RELATED PARTY | 326 | 318 | ||
OTHER NONCURRENT ASSETS | 166 | 160 | ||
Total assets | 1,676 | 1,414 | ||
CURRENT LIABILITIES: | ||||
Accounts payable and accrued liabilities | 152 | 113 | ||
Payables to related party | 0 | 0 | ||
Total current liabilities | 152 | 113 | ||
LONG-TERM DEBT | 0 | 0 | ||
LOANS PAYABLE - RELATED PARTY | 0 | 0 | ||
DEFERRED INCOME TAXES | 0 | 0 | ||
OTHER LONG-TERM LIABILITIES | 15 | 6 | ||
Shareholders'/Member's equity | 1,509 | 1,295 | ||
Non-controlling interest | 0 | 0 | ||
Total shareholders'/member's equity | 1,509 | 1,295 | ||
Total liabilities and shareholders'/member's equity | 1,676 | 1,414 | ||
CCOH Safari, LLC [Member] | ||||
CURRENT ASSETS: | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Accounts receivable, net | 0 | 0 | ||
Receivables from related party | 0 | 0 | ||
Prepaid expenses and other current assets | 0 | 0 | ||
Total current assets | 0 | 0 | ||
RESTRICTED CASH AND CASH EQUIVALENTS | 3,597 | |||
INVESTMENT IN CABLE PROPERTIES: | ||||
Property, plant and equipment, net | 0 | 0 | ||
Franchises | 0 | 0 | ||
Customer relationships, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Total investment in cable properties, net | 0 | 0 | ||
CC VIII PREFERRED INTEREST | 0 | 0 | ||
INVESTMENT IN SUBSIDIARIES | 0 | 0 | ||
LOANS RECEIVABLE - RELATED PARTY | 0 | 0 | ||
OTHER NONCURRENT ASSETS | 3 | 0 | ||
Total assets | 3,600 | 0 | ||
CURRENT LIABILITIES: | ||||
Accounts payable and accrued liabilities | 18 | 0 | ||
Payables to related party | 0 | 0 | ||
Total current liabilities | 18 | 0 | ||
LONG-TERM DEBT | 3,500 | 0 | ||
LOANS PAYABLE - RELATED PARTY | 112 | 0 | ||
DEFERRED INCOME TAXES | 0 | 0 | ||
OTHER LONG-TERM LIABILITIES | 0 | 0 | ||
Shareholders'/Member's equity | -30 | 0 | ||
Non-controlling interest | 0 | 0 | ||
Total shareholders'/member's equity | -30 | 0 | ||
Total liabilities and shareholders'/member's equity | 3,600 | 0 | ||
CCO Holdings [Member] | ||||
CURRENT ASSETS: | ||||
Cash and cash equivalents | 0 | 0 | 0 | 2 |
Accounts receivable, net | 0 | 0 | ||
Receivables from related party | 11 | 11 | ||
Prepaid expenses and other current assets | 0 | 0 | ||
Total current assets | 11 | 11 | ||
RESTRICTED CASH AND CASH EQUIVALENTS | 0 | |||
INVESTMENT IN CABLE PROPERTIES: | ||||
Property, plant and equipment, net | 0 | 0 | ||
Franchises | 0 | 0 | ||
Customer relationships, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Total investment in cable properties, net | 0 | 0 | ||
CC VIII PREFERRED INTEREST | 0 | 0 | ||
INVESTMENT IN SUBSIDIARIES | 10,331 | 10,592 | ||
LOANS RECEIVABLE - RELATED PARTY | 584 | 461 | ||
OTHER NONCURRENT ASSETS | 104 | 119 | ||
Total assets | 11,030 | 11,183 | ||
CURRENT LIABILITIES: | ||||
Accounts payable and accrued liabilities | 187 | 187 | ||
Payables to related party | 0 | 0 | ||
Total current liabilities | 187 | 187 | ||
LONG-TERM DEBT | 10,331 | 10,671 | ||
LOANS PAYABLE - RELATED PARTY | 0 | 0 | ||
DEFERRED INCOME TAXES | 0 | 0 | ||
OTHER LONG-TERM LIABILITIES | 0 | 0 | ||
Shareholders'/Member's equity | 512 | 325 | ||
Non-controlling interest | 0 | 0 | ||
Total shareholders'/member's equity | 512 | 325 | ||
Total liabilities and shareholders'/member's equity | 11,030 | 11,183 | ||
Charter Operating and Subsidiaries [Member] | ||||
CURRENT ASSETS: | ||||
Cash and cash equivalents | 0 | 16 | 6 | 0 |
Accounts receivable, net | 275 | 226 | ||
Receivables from related party | 0 | 0 | ||
Prepaid expenses and other current assets | 50 | 43 | ||
Total current assets | 325 | 285 | ||
RESTRICTED CASH AND CASH EQUIVALENTS | 0 | |||
INVESTMENT IN CABLE PROPERTIES: | ||||
Property, plant and equipment, net | 8,344 | 7,951 | ||
Franchises | 6,006 | 6,009 | ||
Customer relationships, net | 1,105 | 1,389 | ||
Goodwill | 1,168 | 1,177 | ||
Total investment in cable properties, net | 16,623 | 16,526 | ||
CC VIII PREFERRED INTEREST | 0 | 0 | ||
INVESTMENT IN SUBSIDIARIES | 27 | 0 | ||
LOANS RECEIVABLE - RELATED PARTY | 0 | 0 | ||
OTHER NONCURRENT ASSETS | 139 | 138 | ||
Total assets | 17,114 | 16,949 | ||
CURRENT LIABILITIES: | ||||
Accounts payable and accrued liabilities | 1,259 | 1,155 | ||
Payables to related party | 287 | 235 | ||
Total current liabilities | 1,546 | 1,390 | ||
LONG-TERM DEBT | 3,709 | 3,510 | ||
LOANS PAYABLE - RELATED PARTY | 798 | 779 | ||
DEFERRED INCOME TAXES | 237 | 227 | ||
OTHER LONG-TERM LIABILITIES | 57 | 59 | ||
Shareholders'/Member's equity | 10,331 | 10,592 | ||
Non-controlling interest | 436 | 392 | ||
Total shareholders'/member's equity | 10,767 | 10,984 | ||
Total liabilities and shareholders'/member's equity | 17,114 | 16,949 | ||
Unrestricted Subisidiary b CCO Safari [Member] | ||||
CURRENT ASSETS: | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Accounts receivable, net | 0 | 0 | ||
Receivables from related party | 0 | 0 | ||
Prepaid expenses and other current assets | 0 | 0 | ||
Total current assets | 0 | 0 | ||
RESTRICTED CASH AND CASH EQUIVALENTS | 3,514 | |||
INVESTMENT IN CABLE PROPERTIES: | ||||
Property, plant and equipment, net | 0 | 0 | ||
Franchises | 0 | 0 | ||
Customer relationships, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Total investment in cable properties, net | 0 | 0 | ||
CC VIII PREFERRED INTEREST | 0 | 0 | ||
INVESTMENT IN SUBSIDIARIES | 0 | 0 | ||
LOANS RECEIVABLE - RELATED PARTY | 0 | 0 | ||
OTHER NONCURRENT ASSETS | 4 | 0 | ||
Total assets | 3,518 | 0 | ||
CURRENT LIABILITIES: | ||||
Accounts payable and accrued liabilities | 8 | 0 | ||
Payables to related party | 0 | 0 | ||
Total current liabilities | 8 | 0 | ||
LONG-TERM DEBT | 3,483 | 0 | ||
LOANS PAYABLE - RELATED PARTY | 0 | 0 | ||
DEFERRED INCOME TAXES | 0 | 0 | ||
OTHER LONG-TERM LIABILITIES | 0 | 0 | ||
Shareholders'/Member's equity | 27 | 0 | ||
Non-controlling interest | 0 | 0 | ||
Total shareholders'/member's equity | 27 | 0 | ||
Total liabilities and shareholders'/member's equity | 3,518 | 0 | ||
Eliminations [Member] | ||||
CURRENT ASSETS: | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Accounts receivable, net | 0 | 0 | ||
Receivables from related party | -287 | -235 | ||
Prepaid expenses and other current assets | 0 | 0 | ||
Total current assets | -287 | -235 | ||
RESTRICTED CASH AND CASH EQUIVALENTS | 0 | |||
INVESTMENT IN CABLE PROPERTIES: | ||||
Property, plant and equipment, net | 0 | 0 | ||
Franchises | 0 | 0 | ||
Customer relationships, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Total investment in cable properties, net | 0 | 0 | ||
CC VIII PREFERRED INTEREST | -436 | -392 | ||
INVESTMENT IN SUBSIDIARIES | -12,349 | -12,212 | ||
LOANS RECEIVABLE - RELATED PARTY | -910 | -779 | ||
OTHER NONCURRENT ASSETS | 0 | 0 | ||
Total assets | -13,982 | -13,618 | ||
CURRENT LIABILITIES: | ||||
Accounts payable and accrued liabilities | 0 | 0 | ||
Payables to related party | -287 | -235 | ||
Total current liabilities | -287 | -235 | ||
LONG-TERM DEBT | 0 | 0 | ||
LOANS PAYABLE - RELATED PARTY | -910 | -779 | ||
DEFERRED INCOME TAXES | 0 | 0 | ||
OTHER LONG-TERM LIABILITIES | 0 | 0 | ||
Shareholders'/Member's equity | -12,349 | -12,212 | ||
Non-controlling interest | -436 | -392 | ||
Total shareholders'/member's equity | -12,785 | -12,604 | ||
Total liabilities and shareholders'/member's equity | ($13,982) | ($13,618) |
Condensed_Consolidating_Statem
Condensed Consolidating Statements of Operations (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
REVENUES | $2,360 | $2,287 | $2,259 | $2,202 | $2,148 | $2,118 | $1,972 | $1,917 | $9,108 | $8,155 | $7,504 |
COSTS AND EXPENSES: | |||||||||||
Operating costs and expenses (excluding depreciation and amortization) | 5,973 | 5,345 | 4,860 | ||||||||
Depreciation and amortization | 2,102 | 1,854 | 1,713 | ||||||||
Other operating expenses, net | 62 | 47 | 16 | ||||||||
Total costs and expenses | 8,137 | 7,246 | 6,589 | ||||||||
Income from operations | 277 | 218 | 236 | 240 | 244 | 209 | 234 | 222 | 971 | 909 | 915 |
OTHER INCOME (EXPENSES): | |||||||||||
Interest expense, net | -911 | -846 | -907 | ||||||||
Gain (loss) on extinguishment of debt | 0 | -123 | -55 | ||||||||
Gain (loss) on derivative instruments, net | -7 | 11 | 0 | ||||||||
Equity in income (loss) of subisidiaries | 0 | 0 | 0 | ||||||||
Total other expenses | -918 | -958 | -962 | ||||||||
Income (loss) before income taxes | 53 | -49 | -47 | ||||||||
Income tax expense | -236 | -120 | -257 | ||||||||
Consolidated net income (loss) | -48 | -53 | -45 | -37 | 39 | -70 | -96 | -42 | -183 | -169 | -304 |
Less: Net (income) loss b noncontrolling interest | 0 | 0 | 0 | ||||||||
Net income (loss) | -183 | -169 | -304 | ||||||||
Charter [Member] | |||||||||||
REVENUES | 22 | 22 | 24 | ||||||||
COSTS AND EXPENSES: | |||||||||||
Operating costs and expenses (excluding depreciation and amortization) | 22 | 22 | 24 | ||||||||
Depreciation and amortization | 0 | 0 | 0 | ||||||||
Other operating expenses, net | 0 | 0 | 0 | ||||||||
Total costs and expenses | 22 | 22 | 24 | ||||||||
Income from operations | 0 | 0 | 0 | ||||||||
OTHER INCOME (EXPENSES): | |||||||||||
Interest expense, net | 0 | 0 | 0 | ||||||||
Gain (loss) on extinguishment of debt | 0 | 0 | |||||||||
Gain (loss) on derivative instruments, net | 0 | 0 | |||||||||
Equity in income (loss) of subisidiaries | 40 | -75 | -63 | ||||||||
Total other expenses | 40 | -75 | -63 | ||||||||
Income (loss) before income taxes | 40 | -75 | -63 | ||||||||
Income tax expense | -223 | -108 | -254 | ||||||||
Consolidated net income (loss) | -183 | -183 | -317 | ||||||||
Less: Net (income) loss b noncontrolling interest | 0 | 14 | 13 | ||||||||
Net income (loss) | -183 | -169 | -304 | ||||||||
Intermediate Holding Companies [Member] | |||||||||||
REVENUES | 235 | 188 | 159 | ||||||||
COSTS AND EXPENSES: | |||||||||||
Operating costs and expenses (excluding depreciation and amortization) | 235 | 188 | 159 | ||||||||
Depreciation and amortization | 0 | 0 | 0 | ||||||||
Other operating expenses, net | 0 | 0 | 0 | ||||||||
Total costs and expenses | 235 | 188 | 159 | ||||||||
Income from operations | 0 | 0 | 0 | ||||||||
OTHER INCOME (EXPENSES): | |||||||||||
Interest expense, net | 8 | 8 | -103 | ||||||||
Gain (loss) on extinguishment of debt | 0 | 46 | |||||||||
Gain (loss) on derivative instruments, net | 0 | 0 | |||||||||
Equity in income (loss) of subisidiaries | -12 | -114 | -35 | ||||||||
Total other expenses | -4 | -106 | -92 | ||||||||
Income (loss) before income taxes | -4 | -106 | -92 | ||||||||
Income tax expense | 0 | -1 | 0 | ||||||||
Consolidated net income (loss) | -4 | -107 | -92 | ||||||||
Less: Net (income) loss b noncontrolling interest | 44 | 32 | 29 | ||||||||
Net income (loss) | 40 | -75 | -63 | ||||||||
CCOH Safari, LLC [Member] | |||||||||||
REVENUES | 0 | 0 | 0 | ||||||||
COSTS AND EXPENSES: | |||||||||||
Operating costs and expenses (excluding depreciation and amortization) | 0 | 0 | 0 | ||||||||
Depreciation and amortization | 0 | 0 | 0 | ||||||||
Other operating expenses, net | 0 | 0 | 0 | ||||||||
Total costs and expenses | 0 | 0 | 0 | ||||||||
Income from operations | 0 | 0 | 0 | ||||||||
OTHER INCOME (EXPENSES): | |||||||||||
Interest expense, net | -30 | 0 | 0 | ||||||||
Gain (loss) on extinguishment of debt | 0 | 0 | |||||||||
Gain (loss) on derivative instruments, net | 0 | 0 | |||||||||
Equity in income (loss) of subisidiaries | 0 | 0 | 0 | ||||||||
Total other expenses | -30 | 0 | 0 | ||||||||
Income (loss) before income taxes | -30 | 0 | 0 | ||||||||
Income tax expense | 0 | 0 | 0 | ||||||||
Consolidated net income (loss) | -30 | 0 | 0 | ||||||||
Less: Net (income) loss b noncontrolling interest | 0 | 0 | 0 | ||||||||
Net income (loss) | -30 | 0 | 0 | ||||||||
CCO Holdings [Member] | |||||||||||
REVENUES | 0 | 0 | 0 | ||||||||
COSTS AND EXPENSES: | |||||||||||
Operating costs and expenses (excluding depreciation and amortization) | 0 | 0 | 0 | ||||||||
Depreciation and amortization | 0 | 0 | 0 | ||||||||
Other operating expenses, net | 0 | 0 | 0 | ||||||||
Total costs and expenses | 0 | 0 | 0 | ||||||||
Income from operations | 0 | 0 | 0 | ||||||||
OTHER INCOME (EXPENSES): | |||||||||||
Interest expense, net | -679 | -681 | -541 | ||||||||
Gain (loss) on extinguishment of debt | 0 | -65 | 0 | ||||||||
Gain (loss) on derivative instruments, net | 0 | 0 | |||||||||
Equity in income (loss) of subisidiaries | 697 | 632 | 506 | ||||||||
Total other expenses | 18 | -114 | -35 | ||||||||
Income (loss) before income taxes | 18 | -114 | -35 | ||||||||
Income tax expense | 0 | 0 | 0 | ||||||||
Consolidated net income (loss) | 18 | -114 | -35 | ||||||||
Less: Net (income) loss b noncontrolling interest | 0 | 0 | 0 | ||||||||
Net income (loss) | 18 | -114 | -35 | ||||||||
Charter Operating and Subsidiaries [Member] | |||||||||||
REVENUES | 9,108 | 8,155 | 7,504 | ||||||||
COSTS AND EXPENSES: | |||||||||||
Operating costs and expenses (excluding depreciation and amortization) | 5,973 | 5,345 | 4,860 | ||||||||
Depreciation and amortization | 2,102 | 1,854 | 1,713 | ||||||||
Other operating expenses, net | 62 | 47 | 16 | ||||||||
Total costs and expenses | 8,137 | 7,246 | 6,589 | ||||||||
Income from operations | 971 | 909 | 915 | ||||||||
OTHER INCOME (EXPENSES): | |||||||||||
Interest expense, net | -165 | -173 | -263 | ||||||||
Gain (loss) on extinguishment of debt | -58 | -101 | |||||||||
Gain (loss) on derivative instruments, net | -7 | 11 | |||||||||
Equity in income (loss) of subisidiaries | -45 | 0 | 0 | ||||||||
Total other expenses | -217 | -220 | -364 | ||||||||
Income (loss) before income taxes | 754 | 689 | 551 | ||||||||
Income tax expense | -13 | -11 | -3 | ||||||||
Consolidated net income (loss) | 741 | 678 | 548 | ||||||||
Less: Net (income) loss b noncontrolling interest | -44 | -46 | -42 | ||||||||
Net income (loss) | 697 | 632 | 506 | ||||||||
Unrestricted Subisidiary b CCO Safari [Member] | |||||||||||
REVENUES | 0 | 0 | 0 | ||||||||
COSTS AND EXPENSES: | |||||||||||
Operating costs and expenses (excluding depreciation and amortization) | 0 | 0 | 0 | ||||||||
Depreciation and amortization | 0 | 0 | 0 | ||||||||
Other operating expenses, net | 0 | 0 | 0 | ||||||||
Total costs and expenses | 0 | 0 | 0 | ||||||||
Income from operations | 0 | 0 | 0 | ||||||||
OTHER INCOME (EXPENSES): | |||||||||||
Interest expense, net | -45 | 0 | 0 | ||||||||
Gain (loss) on extinguishment of debt | 0 | 0 | |||||||||
Gain (loss) on derivative instruments, net | 0 | 0 | |||||||||
Equity in income (loss) of subisidiaries | 0 | 0 | 0 | ||||||||
Total other expenses | -45 | 0 | 0 | ||||||||
Income (loss) before income taxes | -45 | 0 | 0 | ||||||||
Income tax expense | 0 | 0 | 0 | ||||||||
Consolidated net income (loss) | -45 | 0 | 0 | ||||||||
Less: Net (income) loss b noncontrolling interest | 0 | 0 | 0 | ||||||||
Net income (loss) | -45 | 0 | 0 | ||||||||
Eliminations [Member] | |||||||||||
REVENUES | -257 | -210 | -183 | ||||||||
COSTS AND EXPENSES: | |||||||||||
Operating costs and expenses (excluding depreciation and amortization) | -257 | -210 | -183 | ||||||||
Depreciation and amortization | 0 | 0 | 0 | ||||||||
Other operating expenses, net | 0 | 0 | 0 | ||||||||
Total costs and expenses | -257 | -210 | -183 | ||||||||
Income from operations | 0 | 0 | 0 | ||||||||
OTHER INCOME (EXPENSES): | |||||||||||
Interest expense, net | 0 | 0 | 0 | ||||||||
Gain (loss) on extinguishment of debt | 0 | 0 | |||||||||
Gain (loss) on derivative instruments, net | 0 | 0 | |||||||||
Equity in income (loss) of subisidiaries | -680 | -443 | -408 | ||||||||
Total other expenses | -680 | -443 | -408 | ||||||||
Income (loss) before income taxes | -680 | -443 | -408 | ||||||||
Income tax expense | 0 | 0 | 0 | ||||||||
Consolidated net income (loss) | -680 | -443 | -408 | ||||||||
Less: Net (income) loss b noncontrolling interest | 0 | 0 | 0 | ||||||||
Net income (loss) | ($680) | ($443) | ($408) |
Condensed_Consolidating_Statem1
Condensed Consolidating Statements of Comprehensive Income (Loss) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Consolidated net income (loss) | ($48) | ($53) | ($45) | ($37) | $39 | ($70) | ($96) | ($42) | ($183) | ($169) | ($304) |
Net impact of interest rate derivative instruments, net of tax | 19 | 34 | -10 | ||||||||
Comprehensive income (loss) | -164 | -135 | -314 | ||||||||
Charter [Member] | |||||||||||
Consolidated net income (loss) | -183 | -183 | -317 | ||||||||
Net impact of interest rate derivative instruments, net of tax | 0 | 0 | 0 | ||||||||
Comprehensive income (loss) | -183 | -183 | -317 | ||||||||
Intermediate Holding Companies [Member] | |||||||||||
Consolidated net income (loss) | -4 | -107 | -92 | ||||||||
Net impact of interest rate derivative instruments, net of tax | 0 | 0 | 0 | ||||||||
Comprehensive income (loss) | -4 | -107 | -92 | ||||||||
CCOH Safari, LLC [Member] | |||||||||||
Consolidated net income (loss) | -30 | 0 | 0 | ||||||||
Net impact of interest rate derivative instruments, net of tax | 0 | 0 | 0 | ||||||||
Comprehensive income (loss) | -30 | 0 | 0 | ||||||||
CCO Holdings [Member] | |||||||||||
Consolidated net income (loss) | 18 | -114 | -35 | ||||||||
Net impact of interest rate derivative instruments, net of tax | 0 | 0 | 0 | ||||||||
Comprehensive income (loss) | 18 | -114 | -35 | ||||||||
Charter Operating and Subsidiaries [Member] | |||||||||||
Consolidated net income (loss) | 741 | 678 | 548 | ||||||||
Net impact of interest rate derivative instruments, net of tax | 19 | 34 | -10 | ||||||||
Comprehensive income (loss) | 760 | 712 | 538 | ||||||||
Unrestricted Subisidiary b CCO Safari [Member] | |||||||||||
Consolidated net income (loss) | -45 | 0 | 0 | ||||||||
Net impact of interest rate derivative instruments, net of tax | 0 | 0 | 0 | ||||||||
Comprehensive income (loss) | -45 | 0 | 0 | ||||||||
Eliminations [Member] | |||||||||||
Consolidated net income (loss) | -680 | -443 | -408 | ||||||||
Net impact of interest rate derivative instruments, net of tax | 0 | 0 | 0 | ||||||||
Comprehensive income (loss) | ($680) | ($443) | ($408) |
Condensed_Consolidating_Statem2
Condensed Consolidating Statements of Cash Flows (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Consolidated net income (loss) | ($183) | ($169) | ($304) |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | |||
Depreciation and amortization | 2,102 | 1,854 | 1,713 |
Noncash interest expense | 37 | 43 | 45 |
Loss on extinguishment of debt | 0 | 123 | 55 |
(Gain) loss on derivative instruments, net | 7 | -11 | 0 |
Deferred income taxes | 233 | 112 | 250 |
Equity in (income) losses of subisidiaries | 0 | 0 | 0 |
Other, net | 65 | 82 | 45 |
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions: | |||
Accounts receivable | -51 | 10 | 34 |
Prepaid expenses and other assets | -9 | 0 | -8 |
Accounts payable, accrued liabilities and other | 158 | 114 | 46 |
Receivables from and payables to related party | 0 | 0 | 0 |
Net cash flows from operating activities | 2,359 | 2,158 | 1,876 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchases of property, plant and equipment | -2,221 | -1,825 | -1,745 |
Change in accrued expenses related to capital expenditures | 33 | 76 | 13 |
Sales (purchases) of cable systems, net | 11 | -676 | 19 |
Contribution to subsidiary | 0 | 0 | 0 |
Distributions from subsidiary | 0 | 0 | 0 |
Restricted cash in escrow | -7,111 | 0 | 0 |
Other, net | -16 | -18 | -24 |
Net cash flows from investing activities | -9,304 | -2,443 | -1,737 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Borrowings of long-term debt | 8,806 | 6,782 | 5,830 |
Repayments of long-term debt | -1,980 | -6,520 | -5,901 |
Borrowings (payments) loans payable - related parties | 0 | 0 | 0 |
Payments for debt issuance costs | -6 | -50 | -53 |
Purchase of treasury stock | -19 | -15 | -11 |
Proceeds from exercise of options and warrants | 123 | 104 | |
Proceeds from exercise of options | 15 | ||
Contributions from parent | 0 | 0 | 0 |
Distributions to parent | 0 | 0 | 0 |
Other, net | 3 | -2 | -14 |
Net cash flows from financing activities | 6,927 | 299 | -134 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | -18 | 14 | 5 |
CASH AND CASH EQUIVALENTS, beginning of period | 21 | 7 | 2 |
CASH AND CASH EQUIVALENTS, end of period | 3 | 21 | 7 |
Charter [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Consolidated net income (loss) | -183 | -183 | -317 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | |||
Depreciation and amortization | 0 | 0 | 0 |
Noncash interest expense | 0 | 0 | 0 |
Loss on extinguishment of debt | 0 | 0 | |
(Gain) loss on derivative instruments, net | 0 | 0 | |
Deferred income taxes | 223 | 105 | 252 |
Equity in (income) losses of subisidiaries | -40 | 75 | 63 |
Other, net | 0 | 0 | 0 |
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions: | |||
Accounts receivable | 0 | -3 | -1 |
Prepaid expenses and other assets | 0 | 0 | 2 |
Accounts payable, accrued liabilities and other | 0 | 0 | 0 |
Receivables from and payables to related party | 0 | 5 | -1 |
Net cash flows from operating activities | 0 | -1 | -2 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchases of property, plant and equipment | 0 | 0 | 0 |
Change in accrued expenses related to capital expenditures | 0 | 0 | 0 |
Sales (purchases) of cable systems, net | 0 | 0 | 0 |
Contribution to subsidiary | -106 | -89 | -14 |
Distributions from subsidiary | 5 | 0 | 12 |
Restricted cash in escrow | 0 | ||
Other, net | 0 | 0 | 0 |
Net cash flows from investing activities | -101 | -89 | -2 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Borrowings of long-term debt | 0 | 0 | 0 |
Repayments of long-term debt | 0 | 0 | 0 |
Borrowings (payments) loans payable - related parties | 0 | 0 | 0 |
Payments for debt issuance costs | 0 | 0 | 0 |
Purchase of treasury stock | -19 | -15 | -11 |
Proceeds from exercise of options and warrants | 123 | 104 | |
Proceeds from exercise of options | 15 | ||
Contributions from parent | 0 | 0 | 0 |
Distributions to parent | 0 | 0 | 0 |
Other, net | 0 | 0 | 1 |
Net cash flows from financing activities | 104 | 89 | 5 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 3 | -1 | 1 |
CASH AND CASH EQUIVALENTS, beginning of period | 0 | 1 | 0 |
CASH AND CASH EQUIVALENTS, end of period | 3 | 0 | 1 |
Intermediate Holding Companies [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Consolidated net income (loss) | -4 | -107 | -92 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | |||
Depreciation and amortization | 0 | 0 | 0 |
Noncash interest expense | 0 | 0 | -23 |
Loss on extinguishment of debt | 0 | -46 | |
(Gain) loss on derivative instruments, net | 0 | 0 | |
Deferred income taxes | 0 | 0 | 0 |
Equity in (income) losses of subisidiaries | 12 | 114 | 35 |
Other, net | -2 | 0 | 0 |
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions: | |||
Accounts receivable | -2 | -1 | 1 |
Prepaid expenses and other assets | -1 | 1 | 8 |
Accounts payable, accrued liabilities and other | 41 | -3 | -87 |
Receivables from and payables to related party | -57 | -1 | -1 |
Net cash flows from operating activities | -13 | 3 | -205 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchases of property, plant and equipment | 0 | 0 | 0 |
Change in accrued expenses related to capital expenditures | 0 | 0 | 0 |
Sales (purchases) of cable systems, net | 0 | 0 | 0 |
Contribution to subsidiary | -600 | -534 | -71 |
Distributions from subsidiary | 30 | 6 | 1,891 |
Restricted cash in escrow | 0 | ||
Other, net | -5 | 1 | 0 |
Net cash flows from investing activities | -575 | -527 | 1,820 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Borrowings of long-term debt | 0 | 0 | 0 |
Repayments of long-term debt | 0 | 0 | -1,621 |
Borrowings (payments) loans payable - related parties | 0 | 0 | 0 |
Payments for debt issuance costs | 0 | 0 | 0 |
Purchase of treasury stock | 0 | 0 | 0 |
Proceeds from exercise of options and warrants | 0 | 0 | |
Proceeds from exercise of options | 0 | ||
Contributions from parent | 606 | 534 | 84 |
Distributions to parent | -30 | -5 | -72 |
Other, net | 7 | 0 | -6 |
Net cash flows from financing activities | 583 | 529 | -1,615 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | -5 | 5 | 0 |
CASH AND CASH EQUIVALENTS, beginning of period | 5 | 0 | 0 |
CASH AND CASH EQUIVALENTS, end of period | 0 | 5 | 0 |
CCOH Safari, LLC [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Consolidated net income (loss) | -30 | 0 | 0 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | |||
Depreciation and amortization | 0 | 0 | 0 |
Noncash interest expense | 0 | 0 | 0 |
Loss on extinguishment of debt | 0 | 0 | |
(Gain) loss on derivative instruments, net | 0 | 0 | |
Deferred income taxes | 0 | 0 | 0 |
Equity in (income) losses of subisidiaries | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 |
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions: | |||
Accounts receivable | 0 | 0 | 0 |
Prepaid expenses and other assets | 0 | 0 | 0 |
Accounts payable, accrued liabilities and other | 18 | 0 | 0 |
Receivables from and payables to related party | 0 | 0 | 0 |
Net cash flows from operating activities | -12 | 0 | 0 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchases of property, plant and equipment | 0 | 0 | 0 |
Change in accrued expenses related to capital expenditures | 0 | 0 | 0 |
Sales (purchases) of cable systems, net | 0 | 0 | 0 |
Contribution to subsidiary | 0 | 0 | 0 |
Distributions from subsidiary | 0 | 0 | 0 |
Restricted cash in escrow | -3,598 | ||
Other, net | 0 | 0 | 0 |
Net cash flows from investing activities | -3,598 | 0 | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Borrowings of long-term debt | 3,500 | 0 | 0 |
Repayments of long-term debt | 0 | 0 | 0 |
Borrowings (payments) loans payable - related parties | 112 | 0 | 0 |
Payments for debt issuance costs | -2 | 0 | 0 |
Purchase of treasury stock | 0 | 0 | 0 |
Proceeds from exercise of options and warrants | 0 | 0 | |
Proceeds from exercise of options | 0 | ||
Contributions from parent | 0 | 0 | 0 |
Distributions to parent | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 |
Net cash flows from financing activities | 3,610 | 0 | 0 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, beginning of period | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, end of period | 0 | 0 | 0 |
CCO Holdings [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Consolidated net income (loss) | 18 | -114 | -35 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | |||
Depreciation and amortization | 0 | 0 | 0 |
Noncash interest expense | 25 | 27 | 18 |
Loss on extinguishment of debt | 0 | 65 | 0 |
(Gain) loss on derivative instruments, net | 0 | 0 | |
Deferred income taxes | 0 | 0 | 0 |
Equity in (income) losses of subisidiaries | -697 | -632 | -506 |
Other, net | 0 | 0 | 0 |
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions: | |||
Accounts receivable | 0 | 0 | 0 |
Prepaid expenses and other assets | 0 | 0 | 0 |
Accounts payable, accrued liabilities and other | 0 | 41 | 47 |
Receivables from and payables to related party | -11 | -10 | -11 |
Net cash flows from operating activities | -665 | -623 | -487 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchases of property, plant and equipment | 0 | 0 | 0 |
Change in accrued expenses related to capital expenditures | 0 | 0 | 0 |
Sales (purchases) of cable systems, net | 0 | 0 | 0 |
Contribution to subsidiary | -100 | -1,022 | -2,330 |
Distributions from subsidiary | 1,132 | 630 | 2,014 |
Restricted cash in escrow | 0 | ||
Other, net | 0 | 0 | 0 |
Net cash flows from investing activities | 1,032 | -392 | -316 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Borrowings of long-term debt | 0 | 2,000 | 2,984 |
Repayments of long-term debt | -350 | -955 | 0 |
Borrowings (payments) loans payable - related parties | -112 | -93 | -314 |
Payments for debt issuance costs | 0 | -25 | -39 |
Purchase of treasury stock | 0 | 0 | 0 |
Proceeds from exercise of options and warrants | 0 | 0 | |
Proceeds from exercise of options | 0 | ||
Contributions from parent | 100 | 89 | 1 |
Distributions to parent | -5 | -1 | -1,831 |
Other, net | 0 | 0 | 0 |
Net cash flows from financing activities | -367 | 1,015 | 801 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 0 | 0 | -2 |
CASH AND CASH EQUIVALENTS, beginning of period | 0 | 0 | 2 |
CASH AND CASH EQUIVALENTS, end of period | 0 | 0 | 0 |
Charter Operating and Subsidiaries [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Consolidated net income (loss) | 741 | 678 | 548 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | |||
Depreciation and amortization | 2,102 | 1,854 | 1,713 |
Noncash interest expense | 12 | 16 | 50 |
Loss on extinguishment of debt | 58 | 101 | |
(Gain) loss on derivative instruments, net | 7 | -11 | |
Deferred income taxes | 10 | 7 | -2 |
Equity in (income) losses of subisidiaries | 45 | 0 | 0 |
Other, net | 67 | 82 | 45 |
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions: | |||
Accounts receivable | -49 | 14 | 34 |
Prepaid expenses and other assets | -8 | -1 | -18 |
Accounts payable, accrued liabilities and other | 91 | 76 | 86 |
Receivables from and payables to related party | 68 | 6 | 13 |
Net cash flows from operating activities | 3,086 | 2,779 | 2,570 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchases of property, plant and equipment | -2,221 | -1,825 | -1,745 |
Change in accrued expenses related to capital expenditures | 33 | 76 | 13 |
Sales (purchases) of cable systems, net | 11 | -676 | 19 |
Contribution to subsidiary | -71 | 0 | 0 |
Distributions from subsidiary | 0 | 0 | 0 |
Restricted cash in escrow | 0 | ||
Other, net | -11 | -19 | -24 |
Net cash flows from investing activities | -2,259 | -2,444 | -1,737 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Borrowings of long-term debt | 1,823 | 4,782 | 2,846 |
Repayments of long-term debt | -1,630 | -5,565 | -4,280 |
Borrowings (payments) loans payable - related parties | 0 | 93 | 314 |
Payments for debt issuance costs | 0 | -25 | -14 |
Purchase of treasury stock | 0 | 0 | 0 |
Proceeds from exercise of options and warrants | 0 | 0 | |
Proceeds from exercise of options | 0 | ||
Contributions from parent | 100 | 1,022 | 2,330 |
Distributions to parent | -1,132 | -630 | -2,014 |
Other, net | -4 | -2 | -9 |
Net cash flows from financing activities | -843 | -325 | -827 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | -16 | 10 | 6 |
CASH AND CASH EQUIVALENTS, beginning of period | 16 | 6 | 0 |
CASH AND CASH EQUIVALENTS, end of period | 0 | 16 | 6 |
Unrestricted Subisidiary b CCO Safari [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Consolidated net income (loss) | -45 | 0 | 0 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | |||
Depreciation and amortization | 0 | 0 | 0 |
Noncash interest expense | 0 | 0 | 0 |
Loss on extinguishment of debt | 0 | 0 | |
(Gain) loss on derivative instruments, net | 0 | 0 | |
Deferred income taxes | 0 | 0 | 0 |
Equity in (income) losses of subisidiaries | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 |
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions: | |||
Accounts receivable | 0 | 0 | 0 |
Prepaid expenses and other assets | 0 | 0 | 0 |
Accounts payable, accrued liabilities and other | 8 | 0 | 0 |
Receivables from and payables to related party | 0 | 0 | 0 |
Net cash flows from operating activities | -37 | 0 | 0 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchases of property, plant and equipment | 0 | 0 | 0 |
Change in accrued expenses related to capital expenditures | 0 | 0 | 0 |
Sales (purchases) of cable systems, net | 0 | 0 | 0 |
Contribution to subsidiary | 0 | 0 | 0 |
Distributions from subsidiary | 0 | 0 | 0 |
Restricted cash in escrow | -3,513 | ||
Other, net | 0 | 0 | 0 |
Net cash flows from investing activities | -3,513 | 0 | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Borrowings of long-term debt | 3,483 | 0 | 0 |
Repayments of long-term debt | 0 | 0 | 0 |
Borrowings (payments) loans payable - related parties | 0 | 0 | |
Payments for debt issuance costs | -4 | 0 | 0 |
Purchase of treasury stock | 0 | 0 | 0 |
Proceeds from exercise of options and warrants | 0 | 0 | |
Proceeds from exercise of options | 0 | ||
Contributions from parent | 71 | 0 | 0 |
Distributions to parent | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 |
Net cash flows from financing activities | 3,550 | 0 | 0 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, beginning of period | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, end of period | 0 | 0 | 0 |
Eliminations [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Consolidated net income (loss) | -680 | -443 | -408 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | |||
Depreciation and amortization | 0 | 0 | 0 |
Noncash interest expense | 0 | 0 | 0 |
Loss on extinguishment of debt | 0 | 0 | |
(Gain) loss on derivative instruments, net | 0 | 0 | |
Deferred income taxes | 0 | 0 | 0 |
Equity in (income) losses of subisidiaries | 680 | 443 | 408 |
Other, net | 0 | 0 | 0 |
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions: | |||
Accounts receivable | 0 | 0 | 0 |
Prepaid expenses and other assets | 0 | 0 | 0 |
Accounts payable, accrued liabilities and other | 0 | 0 | 0 |
Receivables from and payables to related party | 0 | 0 | 0 |
Net cash flows from operating activities | 0 | 0 | 0 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchases of property, plant and equipment | 0 | 0 | 0 |
Change in accrued expenses related to capital expenditures | 0 | 0 | 0 |
Sales (purchases) of cable systems, net | 0 | 0 | 0 |
Contribution to subsidiary | 877 | 1,645 | 2,415 |
Distributions from subsidiary | -1,167 | -636 | -3,917 |
Restricted cash in escrow | 0 | ||
Other, net | 0 | 0 | 0 |
Net cash flows from investing activities | -290 | 1,009 | -1,502 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Borrowings of long-term debt | 0 | 0 | 0 |
Repayments of long-term debt | 0 | 0 | 0 |
Borrowings (payments) loans payable - related parties | 0 | 0 | 0 |
Payments for debt issuance costs | 0 | 0 | 0 |
Purchase of treasury stock | 0 | 0 | 0 |
Proceeds from exercise of options and warrants | 0 | 0 | |
Proceeds from exercise of options | 0 | ||
Contributions from parent | -877 | -1,645 | -2,415 |
Distributions to parent | 1,167 | 636 | 3,917 |
Other, net | 0 | 0 | 0 |
Net cash flows from financing activities | 290 | -1,009 | 1,502 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, beginning of period | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, end of period | $0 | $0 | $0 |