Time Warner Cable 2007 Annual Report Download - page 133

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Consolidating Balance Sheet
December 31, 2006
Parent
Company
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations
TWC
Consolidated
(in millions)
ASSETS
Current assets
Cash and equivalents
(a)
...................... $ 51 $ 2,304 $ — $ (2,304) $ 51
Receivables, net ........................... — 182 450 — 632
Receivables from affiliated parties . . . ........... 306 12 162 (382) 98
Deferred income tax assets . . . ................ 78 45 45 (90) 78
Prepaid expenses and other current assets . . . ...... 12 11 54 — 77
Current assets of discontinued operations . . . ...... — 26 26 — 52
Total current assets . . . ...................... 447 2,580 737 (2,776) 988
Investments in and amounts due (to) from
consolidated subsidiaries . . . ................ 49,358 22,281 8,040 (79,679) —
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
Total assets . . . ........................... $49,953 $36,306 $52,017 $(82,455) $55,821
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 . ........... 12,934 6,676 6,722 (13,352) 12,980
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 .......................... — 2,826 — (1,202) 1,624
Shareholders’ equity
Due (to) from TWC and subsidiaries . ........... — 343 (848) 505 —
Other shareholders’ equity . ................... 23,564 19,146 35,305 (54,451) 23,564
Total shareholders’ equity . ................... 23,564 19,489 34,457 (53,946) 23,564
Total liabilities and shareholders’ equity . . ........ $49,953 $36,306 $52,017 $(82,455) $55,821
(a)
Cash and equivalents at the Guarantor Subsidiaries 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.
128
TIME WARNER CABLE INC.
SUPPLEMENTARY INFORMATION
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS—(Continued)