Spectrum Management Holding 8-K Regulation FD Disclosure

Exhibit 99.2

TIME WARNER CABLE INC.

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

Time Warner Entertainment Company, L.P. (“TWE”) and TW NY Cable Holding Inc. (“TW NY Holding” and, together with TWE, the “guarantors”) are subsidiaries of Time Warner Cable Inc. (“we,” “us,” “our” or TWC). The Guarantors are expected to fully and unconditionally, jointly and severally, guarantee our debt securities issued subsequent to the filing of this Current Report on Form 8-K.

Set forth below are our condensed consolidating financial statements, including each of the guarantors. The following condensed consolidating financial statements present the results of operations, financial position and cash flows of (i) the guarantors (in each case, reflecting investments in each guarantor’s consolidated subsidiaries under the equity method of accounting), (ii) our direct and indirect non-guarantor subsidiaries and (iii) the eliminations necessary to arrive at our information on a consolidated basis. There are no restrictions on our ability to obtain funds from any of our subsidiaries through dividends, loans or advances. These condensed consolidating financial statements should be read in conjunction with our consolidated financial statements included in our Annual Report onForm 10-K for the year ended December 31, 2006.

Consolidating Statement of Operations
Year Ended December 31, 2006

				Guarantors						Non-
							TW NY			Guarantor						TWC
	TWC			TWE			Holding			Subsidiaries			Eliminations			Consolidated
	(in millions)
Revenues	$	—		$	3,303		$	—		$	8,612		$	(148	)	$	11,767
Costs of revenues		—			1,600			—			3,904			(148	)		5,356
Selling, general and administrative		2			607			—			1,517			—			2,126
Depreciation		—			599			—			1,284			—			1,883
Amortization		—			62			—			105			—			167
Merger-related and restructuring costs		—			19			—			37			—			56
Total costs and expenses		2			2,887			—			6,847			(148	)		9,588
Operating Income (Loss)		(2	)		416			—			1,765			—			2,179
Equity in pretax income (loss) of consolidated subsidiaries		1,710			1,499			1,015			(164	)		(4,060	)		—
Interest expense, net		(146	)		(474	)		—			(26	)		—			(646	)
Income (loss) from equity investments, net		(6	)		—			—			135			—			129
Minority interest income (expense), net		—			1			—			—			(109	)		(108	)
Other income, net		—			1			—			1			—			2
Income before income taxes, discontinued operations and cumulative effect of accounting change		1,556			1,443			1,015			1,711			(4,169	)		1,556
Income tax provision		(620	)		(27	)		(412	)		(424	)		863			(620	)
Income before discontinued operations and cumulative effect of accounting change		936			1,416			603			1,287			(3,306	)		936
Discontinued operations, net of tax		1,038			126			60			244			(430	)		1,038
Cumulative effect of accounting change, net of tax		2			4			1			3			(8	)		2
Net income	$	1,976		$	1,546		$	664		$	1,534		$	(3,744	)	$	1,976

1

TIME WARNER CABLE INC.

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

Consolidating Statement of Operations
Year Ended December 31, 2005

				Guarantors						Non-
							TW NY			Guarantor						TWC
	TWC			TWE			Holding			Subsidiaries			Eliminations			Consolidated
	(in millions)
Revenues	$	—		$	2,893		$	—		$	6,143		$	(224	)	$	8,812
Costs of revenues		—			1,360			—			2,782			(224	)		3,918
Selling, general and administrative		5			491			—			1,033			—			1,529
Depreciation		—			528			—			937			—			1,465
Amortization		—			61			—			11			—			72
Merger-related and restructuring costs		—			41			—			1			—			42
Total costs and expenses		5			2,481			—			4,764			(224	)		7,026
Operating Income (Loss)		(5	)		412			—			1,379			—			1,786
Equity in pretax income (loss) of consolidated subsidiaries		1,371			1,077			776			(99	)		(3,125	)		—
Interest income (expense), net		(64	)		(448	)		—			48			—			(464	)
Income from equity investments, net		—			—			—			43			—			43
Minority interest expense, net		—			—			—			—			(64	)		(64	)
Other income, net		—			1			—			—			—			1
Income before income taxes and discontinued operations		1,302			1,042			776			1,371			(3,189	)		1,302
Income tax provision		(153	)		(19	)		(138	)		(146	)		303			(153	)
Income before discontinued operations		1,149			1,023			638			1,225			(2,886	)		1,149
Discontinued operations, net of tax		104			86			26			146			(258	)		104
Net income	$	1,253		$	1,109		$	664		$	1,371		$	(3,144	)	$	1,253

2

TIME WARNER CABLE INC.

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

Consolidating Statement of Operations
Year Ended December 31, 2004

				Guarantors						Non-
							TW NY			Guarantor						TWC
	TWC			TWE			Holding			Subsidiaries			Eliminations			Consolidated
	(in millions)
Revenues	$	—		$	2,622		$	—		$	5,421		$	(182	)	$	7,861
Costs of revenues		—			1,173			—			2,465			(182	)		3,456
Selling, general and administrative		—			489			—			961			—			1,450
Depreciation		—			459			—			870			—			1,329
Amortization		—			60			—			12			—			72
Total costs and expenses		—			2,181			—			4,308			(182	)		6,307
Operating Income		—			441			—			1,113			—			1,554
Equity in pretax income (loss) of consolidated subsidiaries		1,123			900			600			(52	)		(2,571	)		—
Interest income (expense), net		(38	)		(448	)		—			21			—			(465	)
Income from equity investments, net		—			—			—			41			—			41
Minority interest expense, net		—			—			—			—			(56	)		(56	)
Other income, net		—			11			—			—			—			11
Income before income taxes and discontinued operations		1,085			904			600			1,123			(2,627	)		1,085
Income tax provision		(454	)		(17	)		(255	)		(262	)		534			(454	)
Income before discontinued operations		631			887			345			861			(2,093	)		631
Discontinued operations, net of tax		95			91			27			138			(256	)		95
Net income	$	726		$	978		$	372		$	999		$	(2,349	)	$	726

3

TIME WARNER CABLE INC.

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

Consolidating Balance Sheet
December 31, 2006

			Guarantors				Non-
					TW NY		Guarantor						TWC
	TWC		TWE		Holding		Subsidiaries			Eliminations			Consolidated
	(in millions)
ASSETS
Current assets
Cash and equivalents	$	51	$	2,304	$	—	$	—		$	(2,304	)	$	51
Receivables, net		—		182		—		450			—			632
Receivables from affiliated parties		306		12		—		162			(382	)		98
Other current assets		12		11		—		54			—			77
Current assets of discontinued operations		—		26		—		26			—			52
Total current assets		369		2,535		—		692			(2,686	)		910
Investments in amounts due (to) from consolidated subsidiaries		40,656		17,683		25,777		5,473			(89,589	)		—
Investments		4		34		—		2,034			—			2,072
Property, plant and equipment, net		—		3,239		—		8,362			—			11,601
Intangible assets subject to amortization, net		—		18		—		858			—			876
Intangible assets not subject to amortization		—		8,150		—		29,901			—			38,051
Goodwill		—		2		—		2,057			—			2,059
Other assets		144		2		—		28			—			174
Long-term receivables from affiliated parties		8,702		—		—		2,567			(11,269	)		—
Total assets	$	49,875	$	31,663	$	25,777	$	51,972		$	(103,544	)	$	55,743
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	—	$	162	$	—	$	354		$	—		$	516
Deferred revenue and subscriber-related liabilities		—		54		—		102			—			156
Payables to affiliated parties		—		226		—		321			(382	)		165
Accrued programming expense		—		263		—		261			—			524
Other current liabilities		41		442		—		630			—			1,113
Current liabilities of discontinued operations		—		6		—		10			—			16
Total current liabilities		41		1,153		—		1,678			(382	)		2,490
Long-term debt		11,077		3,351		—		—			—			14,428
Mandatorily redeemable preferred membership units issued by a subsidiary		—		—		—		300			—			300
Mandatorily redeemable preferred equity issued by a subsidiary		—		2,400		—		—			(2,400	)		—
Deferred income tax obligations, net		12,856		—		6,631		6,677			(13,262	)		12,902
Long-term payables to affiliated parties		2,304		297		—		8,709			(11,173	)		137
Other liabilities		33		114		—		149			—			296
Noncurrent liabilities of discontinued operations		—		—		—		2			—			2
Minority interests		—		—		—		—			1,624			1,624
Shareholders’ equity
Due (to) from TWC and subsidiaries		—		343		—		(848	)		505			—
Other shareholders’ equity		23,564		24,005		19,146		35,305			(78,456	)		23,564
Total shareholders’ equity		23,564		24,348		19,146		34,457			(77,951	)		23,564
Total liabilities and shareholders’ equity	$	49,875	$	31,663	$	25,777	$	51,972		$	(103,544	)	$	55,743

4

TIME WARNER CABLE INC.

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

Consolidating Balance Sheet
December 31, 2005

			Guarantors					Non-
						TW NY		Guarantor					TWC
	TWC		TWE		��	Holding		Subsidiaries		Eliminations			Consolidated
	(in millions)
ASSETS
Current assets
Cash and equivalents	$	12	$	873		$	—	$	—	$	(873	)	$	12
Receivables, net		—		164			—		226		—			390
Receivables from affiliated parties		—		18			—		58		(68	)		8
Other current assets		1		22			—		30		—			53
Current assets of discontinued operations		—		13			—		11		—			24
Total current assets		13		1,090			—		325		(941	)		487
Investments in amounts due (to) from consolidated subsidiaries		35,443		18,063			16,733		5,476		(75,715	)		—
Investments		—		35			—		1,932		—			1,967
Property, plant and equipment, net		—		2,847			—		5,287		—			8,134
Intangible assets subject to amortization, net		—		79			—		64		—			143
Intangible assets not subject to amortization		—		8,150			—		19,414		—			27,564
Goodwill		—		2			—		1,767		—			1,769
Other assets		321		56			—		13		—			390
Long-term receivables from affiliated parties		—		—			—		34		(34	)		—
Noncurrent assets of discontinued operations		—		1,376			—		1,847		—			3,223
Total assets	$	35,777	$	31,698		$	16,733	$	36,159	$	(76,690	)	$	43,677
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	—	$	53		$	—	$	158	$	—		$	211
Deferred revenue and subscriber-related liabilities		—		44			—		40		—			84
Payables to affiliated parties		3		125			—		105		(68	)		165
Accrued programming expense		—		185			—		116		—			301
Other current liabilities		11		387			—		439		—			837
Current liabilities of discontinued operations		—		51			—		47		—			98
Total current liabilities		14		845			—		905		(68	)		1,696
Long-term debt		1,101		3,362			—		—		—			4,463
Mandatorily redeemable preferred equity issued by a subsidiary		—		2,400			—		—		—			2,400
Deferred income tax obligations, net		11,585		—			6,258		6,304		(12,516	)		11,631
Long-term payables to affiliated parties		873		85			—		3		(907	)		54
Other liabilities		35		108			—		104		—			247
Noncurrent liabilities of discontinued operations		838		6			326		330		(652	)		848
Minority interests		—		—			—		—		1,007			1,007
Mandatorily redeemable Class A common stock		984		—			—		—		—			984
Shareholders’ equity
Due (to) from TWC and subsidiaries		—		(15	)		—		52		(37	)		—
Other shareholders’ equity		20,347		24,907			10,149		28,461		(63,517	)		20,347
Total shareholders’ equity		20,347		24,892			10,149		28,513		(63,554	)		20,347
Total liabilities and shareholders’ equity	$	35,777	$	31,698		$	16,733	$	36,159	$	(76,690	)	$	43,677

5

TIME WARNER CABLE INC.

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

Consolidating Statement of Cash Flows
Year Ended December 31, 2006

				Guarantors						Non-
							TW NY			Guarantor						TWC
	TWC			TWE			Holding			Subsidiaries			Eliminations			Consolidated
	(in millions)
OPERATING ACTIVITIES
Net income	$	1,976		$	1,546		$	664		$	1,534		$	(3,744	)	$	1,976
Adjustments for noncash and nonoperating items:
Cumulative effect of accounting change, net of tax		(2	)		(4	)		(1	)		(3	)		8			(2	)
Depreciation and amortization		—			661			—			1,389			—			2,050
Excess (deficiency) of distributions over equity in pretax income of consolidated subsidiaries		(1,710	)		(1,499	)		(1,015	)		164			4,060			—
Income from equity investments		6			—			—			(135	)		—			(129	)
Minority interest expense		—			(1	)		—			—			109			108
Deferred income taxes		240			—			93			93			(186	)		240
Equity-based compensation		—			33			—			—			—			33
Changes in operating assets and liabilities, net of acquisitions		(286	)		468			—			63			—			245
Adjustments relating to discontinued operations		(1,038	)		(52	)		(60	)		(146	)		370			(926	)
Cash provided (used) by operating activities		(814	)		1,152			(319	)		2,959			617			3,595
INVESTING ACTIVITIES
Investments and acquisitions, net of cash acquired		(8,712	)		(1	)		—			(9,071	)		8,555			(9,229	)
Investment in Wireless Joint Venture		—			—			—			(633	)		—			(633	)
Capital expenditures from continuing operations		—			(966	)		—			(1,752	)		—			(2,718	)
Capital expenditures from discontinued operations		—			(34	)		—			(22	)		—			(56	)
Proceeds from disposal of property, plant and equipment		—			2			—			4			—			6
Other investment proceeds		—			—			—			631			—			631
Cash provided (used) by investing activities		(8,712	)		(999	)		—			(10,843	)		8,555			(11,999	)
FINANCING ACTIVITIES
Borrowings (repayments), net		12,340			—			—			8,702			(10,133	)		10,909
Repayments of revolving credit facility		(950	)		—			—			—			—			(950	)
Issuance of mandatorily redeemable preferred membership units by a subsidiary		—			—			—			300			—			300
Changes in due (to) from parent and investment in subsidiary		28			1,456			319			(1,186	)		(617	)		—
Principal payments on capital leases		—			—			—			(3	)		—			(3	)
Redemption of Comcast’s interest in TWC		(1,857	)		(147	)		—			—			147			(1,857	)
Distributions to owners, net		—			(31	)		—			—			—			(31	)
Excess tax benefit on stock options		4			—			—			—			—			4
Other		—			—			—			71			—			71
Cash provided (used) by financing activities		9,565			1,278			319			7,884			(10,603	)		8,443
INCREASE (DECREASE) IN CASH AND EQUIVALENTS		39			1,431			—			—			(1,431	)		39
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD		12			873			—			—			(873	)		12
CASH AND EQUIVALENTS AT END OF PERIOD	$	51		$	2,304		$	—		$	—		$	(2,304	)	$	51

6

TIME WARNER CABLE INC.

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

Consolidating Statement of Cash Flows
Year Ended December 31, 2005

				Guarantors						Non-
							TW NY			Guarantor						TWC
	TWC			TWE			Holding			Subsidiaries			Eliminations			Consolidated
	(in millions)
OPERATING ACTIVITIES
Net income	$	1,253		$	1,109		$	664		$	1,371		$	(3,144	)	$	1,253
Adjustments for noncash and nonoperating items:
Depreciation and amortization		—			589			—			948			—			1,537
Excess (deficiency) of distributions over equity in pretax income of consolidated subsidiaries		(1,371	)		(1,077	)		(776	)		99			3,125			—
Income from equity investments		—			—			—			(43	)		—			(43	)
Minority interest expense		—			—			—			—			64			64
Deferred income taxes		(393	)		—			(184	)		(186	)		368			(395	)
Equity-based compensation		—			50			—			3			—			53
Changes in operating assets and liabilities, net of acquisitions		6			229			—			(194	)		(103	)		(62	)
Adjustments relating to discontinued operations		(100	)		69			(26	)		(83	)		273			133
Cash provided (used) by operating activities		(605	)		969			(322	)		1,915			583			2,540
INVESTING ACTIVITIES
Investments and acquisitions, net of cash acquired		—			(36	)		—			(77	)		—			(113	)
Capital expenditures from continuing operations		—			(653	)		—			(1,184	)		—			(1,837	)
Capital expenditures from discontinued operations		—			(68	)		—			(70	)		—			(138	)
Proceeds from disposal of property, plant and equipment		—			1			—			3			—			4
Investments and acquisitions from discontinued operations		—			—			—			(48	)		—			(48	)
Cash used by investing activities		—			(756	)		—			(1,376	)		—			(2,132	)
FINANCING ACTIVITIES
Borrowings (repayments), net		163			—			—			—			(585	)		(422	)
Changes in due (to) from parent and investment in subsidiary		410			343			322			(493	)		(582	)		—
Principal payments on capital leases		—			—			—			(1	)		—			(1	)
Distributions to owners, net		—			(30	)		—			—			—			(30	)
Debt repayments of discontinued operations		—			—			—			(45	)		—			(45	)
Cash provided (used) by financing activities		573			313			322			(539	)		(1,167	)		(498	)
INCREASE (DECREASE) IN CASH AND EQUIVALENTS		(32	)		526			—			—			(584	)		(90	)
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD		44			347			—			—			(289	)		102
CASH AND EQUIVALENTS AT END OF PERIOD	$	12		$	873		$	—		$	—		$	(873	)	$	12

7

TIME WARNER CABLE INC.

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

Consolidating Statement of Cash Flows
Year Ended December 31, 2004

				Guarantors						Non-
							TW NY			Guarantor						TWC
	TWC			TWE			Holding			Subsidiaries			Eliminations			Consolidated
	(in millions)
OPERATING ACTIVITIES
Net income	$	726		$	978		$	372		$	999		$	(2,349	)	$	726
Adjustments for noncash and nonoperating items:
Depreciation and amortization		—			519			—			882			—			1,401
Excess (deficiency) of distributions over equity in pretax income of consolidated subsidiaries		(1,123	)		(900	)		(600	)		52			2,571			—
Income from equity investments		—			—			—			(41	)		—			(41	)
Minority interest expense		—			—			—			—			56			56
Deferred income taxes		440			—			251			255			(505	)		441
Equity-based compensation		—			67			—			3			—			70
Changes in operating assets and liabilities, net of acquisitions		(120	)		(110	)		—			91			2			(137	)
Adjustments relating to discontinued operations		(95	)		59			(27	)		(109	)		317			145
Cash provided (used) by operating activities		(172	)		613			(4	)		2,132			92			2,661
INVESTING ACTIVITIES
Investments and acquisitions, net of cash acquired		—			(6	)		—			(97	)		—			(103	)
Capital expenditures from continuing operations		—			(643	)		—			(916	)		—			(1,559	)
Capital expenditures from discontinued operations		—			(81	)		—			(72	)		—			(153	)
Proceeds from disposal of property, plant and equipment		—			1			—			2			—			3
Investments and acquisitions from discontinued operations		—			—			—			(4	)		—			(4	)
Cash used by investing activities		—			(729	)		—			(1,087	)		—			(1,816	)
FINANCING ACTIVITIES
Borrowings (repayments), net		(388	)		(378	)		—			—			(291	)		(1,057	)
Changes in due (to) from parent and investment in subsidiary		383			835			4			(1,043	)		(179	)		—
Principal payments on capital leases		—			—			—			(2	)		—			(2	)
Distributions to owners, net		—			(102	)		—			—			89			(13	)
Cash provided (used) by financing activities		(5	)		355			4			(1,045	)		(381	)		(1,072	)
INCREASE (DECREASE) IN CASH AND EQUIVALENTS		(177	)		239			—			—			(289	)		(227	)
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD		221			108			—			—			—			329
CASH AND EQUIVALENTS AT END OF PERIOD	$	44		$	347		$	—		$	—		$	(289	)	$	102

8