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
MARCH 31, 2002
[ ] Transition report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the transition period from to
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Commission File Number 0-14206
CABLE TV FUND 12-D, LTD.
Exact name of registrant as specified in charter
Colorado 84-1010423
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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 12-D, LTD.
(A Limited Partnership)
CONDENSED BALANCE SHEET
(Unaudited)
March 31, December 31,
ASSETS 2002 2001
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Cash ............................................................... $1,471,304 $1,465,097
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Total assets.................................................. $1,471,304 $1,465,097
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LIABILITIES AND PARTNERS' CAPITAL
LIABILITIES:
Advances from affiliates.......................................... $35,186 $9,942
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Total liabilities............................................. 35,186 9,942
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Commitments and Contingencies
PARTNERS' CAPITAL:
General Partner-
Contributed capital............................................... 1,000 1,000
Distributions..................................................... (21,153,765) (21,153,765)
Accumulated earnings.............................................. 21,511,797 21,516,556
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359,032 363,791
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Limited Partners-
Net contributed capital (237,339 units outstanding
at March 31, 2002 and December 31, 2001)........................ 102,198,175 102,198,175
Distributions..................................................... (182,130,796) (182,130,796)
Accumulated earnings.............................................. 81,009,707 81,023,985
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1,077,086 1,091,364
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Total liabilities and partners' capital....................... $1,471,304 $1,465,097
================ ================
See notes to condensed financial statements.
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CABLE TV FUND 12-D, LTD.
(A Limited Partnership)
CONDENSED STATEMENT OF OPERATIONS
(Unaudited)
For the Three Months Ended
March 31,
2002 2001
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INCOME (EXPENSE):
Interest income.............................................................. $6,207 $24,183
Administrative expenses and other, net....................................... (25,244) (44,259)
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NET LOSS........................................................................ ($19,037) ($20,076)
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ALLOCATION OF NET LOSS:
General Partner.............................................................. ($4,759) ($5,019)
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Limited Partners............................................................. ($14,278) ($15,057)
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NET LOSS PER LIMITED PARTNERSHIP UNIT........................................... ($.06) ($.06)
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WEIGHTED AVERAGE NUMBER OF LIMITED
PARTNERSHIP UNITS OUTSTANDING ............................................... 237,339 237,339
============ ============
See notes to condensed financial statements.
2
CABLE TV FUND 12-D, LTD.
(A Limited Partnership)
CONDENSED STATEMENT OF CASH FLOWS
(Unaudited)
For the Three Months Ended
March 31,
2002 2001
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CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss..................................................................... ($19,037) ($20,076)
Adjustments to reconcile net loss to net cash
provided by (used in) operating activities:
Increase (decrease) in advances from affiliates.......................... 25,244 (44)
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Net cash provided by (used in) operating activities.................... 6,207 (20,120)
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Increase (decrease) in cash..................................................... 6,207 (20,120)
Cash, beginning of period....................................................... 1,465,097 1,613,430
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Cash, end of period............................................................. $1,471,304 $1,593,310
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SUPPLEMENTAL CASH FLOW DISCLOSURE:
Interest paid................................................................ $581
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See notes to condensed financial statements.
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CABLE TV FUND 12-D, LTD.
(A Limited Partnership)
NOTES TO CONDENSED FINANCIAL STATEMENTS
(Unaudited)
(1) The condensed balance sheet as of December 31, 2001 has been condensed from
the audited balance sheet as of that date. The condensed balance sheet as of
March 31, 2002 and the condensed statements of operations and of cash flows for
the three months ended March 31, 2002 and 2001 have been prepared by Cable TV
Fund 12-D, 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 March 31, 2002 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, 2001 Annual Report on Form 10-K filed with the Securities and
Exchange Commission. The results of operations for the period ended March 31,
2002 are not necessarily indicative of operating results for the full year.
The Partnership owns no properties directly. 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 charges were included in administrative
expenses and other, net in the accompanying condensed statement of operations.
Reimbursements made to the general partner by the Partnership for administrative
expenses for the three months ended March 31, 2002 and 2001 were $19,611 and
$36,678, respectively.
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CABLE TV FUND 12-D, LTD.
(A Limited Partnership)
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
FINANCIAL CONDITION
The only asset of the Partnership at March 31, 2002 was its cash on
hand, which 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
Administrative expenses and other, net of $25,244 incurred in the first
quarter of 2002 by the Partnership related to various costs associated with the
administration of the Partnership.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
Refer to Part I - Item 3 to our Annual Report on Form 10-K for the year
ended December 31, 2001 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 12-D, 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: May 15, 2002
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