Time Warner Cable 2007 Annual Report Download - page 132

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Consolidating Balance Sheet
December 31, 2007
Parent
Company
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations
TWC
Consolidated
(in millions)
ASSETS
Current assets
Cash and equivalents
(a)
...................... $ 185 $ 3,458 $ — $ (3,411) $ 232
Receivables, net ........................... — 171 572 — 743
Receivables from affiliated parties . . . ........... 719 2 359 (1,078) 2
Deferred income tax assets . . . ................ 91 52 52 (104) 91
Prepaid expenses and other current assets . . . ...... 5 40 50 — 95
Total current assets . . . ...................... 1,000 3,723 1,033 (4,593) 1,163
Investments in and amounts due (to) from
consolidated subsidiaries . . . ................ 50,704 23,223 9,752 (83,679) —
Investments . . . ........................... 13 38 684 — 735
Property, plant and equipment, net . . . ........... — 3,268 9,605 — 12,873
Intangible assets subject to amortization, net. ...... — 6 713 — 719
Intangible assets not subject to amortization . ...... — 8,150 30,775 — 38,925
Goodwill ................................ 4 3 2,110 — 2,117
Other assets . . . ........................... 35 4 29 — 68
Total assets . . . ........................... $51,756 $38,415 $54,701 $(88,272) $56,600
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable .......................... $ — $ 41 $ 376 $ — $ 417
Deferred revenue and subscriber-related liabilities . . . — 59 105 — 164
Payables to affiliated parties . . ................ 30 408 844 (1,078) 204
Accrued programming expense ................ — 308 201 — 509
Other current liabilities ...................... 82 569 586 — 1,237
Current liabilities of discontinued operations ...... — 3 2 — 5
Total current liabilities ...................... 112 1,388 2,114 (1,078) 2,536
Long-term debt ........................... 10,240 3,337 — — 13,577
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 liabilities, net . . ........... 13,244 7,008 7,008 (13,969) 13,291
Long-term payables to affiliated parties .......... 3,411 416 8,704 (12,495) 36
Other liabilities ........................... 43 180 207 — 430
Noncurrent liabilities of discontinued operations .... — — — — —
Minority interests .......................... — 3,116 — (1,392) 1,724
Shareholders’ equity
Due (to) from TWC and subsidiaries . ........... — 450 (350) (100) —
Other shareholders’ equity . ................... 24,706 20,120 36,718 (56,838) 24,706
Total shareholders’ equity . ................... 24,706 20,570 36,368 (56,938) 24,706
Total liabilities and shareholders’ equity . . ........ $51,756 $38,415 $54,701 $(88,272) $56,600
(a)
Cash and equivalents at the Guarantor Subsidiaries primarily represents TWE’s intercompany amounts receivable from TWC under TWC’s internal
investment program. Amounts bear interest at TWC’s prevailing commercial paper rates minus 0.025% and are settled daily.
127
TIME WARNER CABLE INC.
SUPPLEMENTARY INFORMATION
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS—(Continued)