FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark one)
[x] Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange
Act of 1934
For the quarterly period ended
SEPTEMBER 30, 2001
[ ] Transition report pursuant to section 13 or 15(d) of the Securities
Exchange Act of 1934
For the transition period from ___________ to ___________
Commission File Number 0-15378
CABLE TV FUND 14-A, LTD.
Exact name of registrant as specified in charter
Colorado #84-1024657
- ------------------------------ ----------------------------------
State of organization I.R.S. employer I.D. #
c/o Comcast Corporation
1500 Market Street, Philadelphia, PA 19102-2148
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Address of principal executive office
(215) 665-1700
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Registrant's telephone number
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
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CABLE TV FUND 14-A, LTD.
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(A Limited Partnership)
CONDENSED BALANCE SHEET
-----------------------
(Unaudited)
September 30, December 31,
ASSETS 2001 2000
------ --------------- --------------
Cash .................................................................. $2,485,200 $9,904,418
Interest receivable.................................................... 6,286 50,893
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$2,491,486 $9,955,311
=============== ==============
LIABILITIES AND PARTNERS' CAPITAL
---------------------------------
LIABILITIES:
Advances from affiliates............................................ $21,562 $40,656
Accounts payable and accrued liabilities............................ 632,500 657,839
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Total liabilities............................................. 654,062 698,495
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PARTNERS' CAPITAL:
General Partner-
Contributed capital............................................... 1,000 1,000
Distributions..................................................... (5,101,517) (3,226,517)
Accumulated earnings.............................................. 5,559,873 5,539,721
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459,356 2,314,204
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Limited Partners-
Net contributed capital (160,000 units outstanding
at September 30, 2001 and December 31, 2000)...................... 68,722,000 68,722,000
Distributions....................................................... (115,304,552) (109,679,552)
Accumulated earnings................................................ 47,960,620 47,900,164
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1,378,068 6,942,612
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$2,491,486 $9,955,311
=============== ==============
See notes to condensed financial statements.
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CABLE TV FUND 14-A, LTD.
------------------------
(A Limited Partnership)
CONSENSED STATEMENT OF OPERATIONS
---------------------------------
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
2001 2000 2001 2000
----------- ----------- ----------- ----------
OTHER INCOME (EXPENSE):
Interest income............................................ $20,927 $159,527 $187,131 $543,567
Other, net................................................. (20,562) (32,343) (106,523) (141,002)
----------- ----------- ----------- ----------
NET INCOME.................................................... $365 $127,184 $80,608 $402,565
=========== =========== =========== ==========
ALLOCATION OF NET INCOME:
General Partner............................................ $91 $31,796 $20,152 $100,641
=========== =========== =========== ==========
Limited Partners........................................... $274 $95,388 $60,456 $301,924
=========== =========== =========== ==========
NET INCOME PER LIMITED PARTNERSHIP UNIT....................... $0.60 $0.38 $1.89
=========== =========== =========== ==========
WEIGHTED AVERAGE NUMBER OF LIMITED
PARTNERSHIP UNITS OUTSTANDING.............................. 160,000 160,000 160,000 160,000
=========== =========== =========== ==========
See notes to condensed financial statements.
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CABLE TV FUND 14-A, LTD.
------------------------
(A Limited Partnership)
CONDENSED STATEMENT OF CASH FLOWS
---------------------------------
(Unaudited)
Nine Months Ended
September 30,
2001 2000
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CASH FLOWS FROM OPERATING ACTIVITIES:
Net income................................................................... $80,608 $402,565
Adjustments to reconcile net income to net cash
provided by (used in) operating activities:
Decrease in interest receivable.......................................... 44,607
Decrease in accounts payable and accrued liabilities..................... (25,339) (1,131,002)
Decrease in advances from affiliates..................................... (19,094) (6,205,737)
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Net cash provided by (used in) operating activities.................... 80,782 (6,934,174)
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CASH FLOWS FROM FINANCING ACTIVITIES:
Distribution to General Partner.............................................. (1,875,000)
Distribution to limited partners............................................. (5,625,000)
Distribution to Jones Intercable............................................. (3,226,517)
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Net cash used in financing activities.................................. (7,500,000) (3,226,517)
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Decrease in cash................................................................ (7,419,218) (10,160,691)
Cash, beginning of period....................................................... 9,904,418 19,674,576
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Cash, end of period............................................................. $2,485,200 $9,513,885
============ =============
SUPPLEMENTAL CASH FLOW DISCLOSURE:
Interest paid................................................................ $11,371
============ =============
See notes to condensed financial statements.
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CABLE TV FUND 14-A, LTD.
------------------------
(A Limited Partnership)
NOTES TO CONDENSED FINANCIAL STATEMENTS
---------------------------------------
(Unaudited)
(1) The condensed balance sheet as of December 31, 2000 has been condensed
from the audited balance sheet as of that date. The condensed balance sheet as
of September 30, 2001, the condensed statement of operations for the three and
nine months ended September 30, 2001 and 2000, and the condensed statement of
cash flows for the nine months ended September 30, 2001 and 2000 have been
prepared by Cable TV Fund 14-A, Ltd. (the "Partnership") and have not been
audited by the Partnership's independent auditors. In the opinion of management,
all adjustments necessary to present fairly the financial position, results of
operations and cash flows as of September 30, 2001 and for all periods presented
have been made.
Certain information and note disclosures normally included in the
Partnership's annual financial statements prepared in accordance with accounting
principles generally accepted in the United States have been condensed or
omitted. These condensed financial statements should be read in conjunction with
the financial statements and notes thereto included in the Partnership's
December 31, 2000 Annual Report on Form 10-K filed with the Securities and
Exchange Commission. The results of operations for the periods ended September
30, 2001 are not necessarily indicative of operating results for the full year.
The Partnership has sold all of its cable television systems. The
Partnership has continued in existence because of pending litigation in which
the Partnership is a party. It cannot be predicted when the Partnership will be
dissolved.
(2) The Partnership reimburses its general partner for certain
administrative expenses. These expenses represent the salaries and related
benefits paid for corporate personnel. Such personnel provide administrative,
accounting, tax, legal and investor relations services to the Partnership. Such
services, and their related costs, are necessary to the administration of the
Partnership until the Partnership is dissolved. Such costs were included in
Other, net in the accompanying condensed statement of operations. Reimbursements
made to the general partner by the Partnership for administrative expenses for
the three and nine months ended September 30, 2001 were $17,338 and $65,572,
respectively. Reimbursements made to the general partner by the Partnership for
administrative expenses for the three and nine months ended September 30, 2000
were $23,355 and $85,267, respectively.
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CABLE TV FUND 14-A, LTD.
------------------------
(A Limited Partnership)
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
---------------------------------------------------------------
RESULTS OF OPERATIONS
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FINANCIAL CONDITION
- -------------------
The only assets of the Partnership at September 30, 2001 were its cash
on hand and interest receivable. A portion of the Partnership's cash balance is
being held in reserve to pay the Partnership's administrative expenses until the
Partnership is dissolved. The Partnership has continued in existence because of
pending litigation in which the Partnership is a party. It cannot be predicted
when the Partnership will be dissolved.
RESULTS OF OPERATIONS
- ---------------------
The Partnership has sold all of its cable television systems. Interest
income of $187,131 was earned during the first nine months of 2001 on the cash
balance on hand. Other expense of $106,523 incurred in the first nine months of
2001 related to various costs associated with the administration of the
Partnership.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
Please refer to Part II - Item 1 of our June 30, 2001 Form 10-Q for a
discussion of recent developments related to our legal proceedings.
Item 6. Exhibits and Reports on Form 8-K.
a) Exhibits
None.
b) Reports on Form 8-K
None.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CABLE TV FUND 14-A, LTD.
BY: COMCAST CABLE COMMUNICATIONS, INC.
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General Partner
By: /S/ Lawrence J. Salva
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Lawrence J. Salva
Senior Vice President
(Principal Accounting Officer)
Dated: November 13, 2001
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