Time Warner Cable 2008 Annual Report Download - page 153

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Consolidating Balance Sheet
December 31, 2008
Parent
Company
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations
TWC
Consolidated
(in millions)
ASSETS
Current assets:
Cash and equivalents
(a)
. . . . . . . . . . . . . . . . . . $ 5,395 $ 5,204 $ — $ (5,150) $ 5,449
Receivables, net . . . . . . . . . . . . . . . . . . . . . . . 6 183 503 — 692
Receivables from affiliated parties . . . . . . . . . . 1,161 3 569 (1,572) 161
Deferred income tax assets . . . . . . . . . . . . . . . 156 108 108 (216) 156
Prepaid expenses and other current assets . . . . . 113 44 44 — 201
Total current assets . . . . . . . . . . . . . . . . . . . . . . 6,831 5,542 1,224 (6,938) 6,659
Investments in and amounts due to (from)
consolidated subsidiaries . . . . . . . . . . . . . . . . . 39,117 16,023 8,147 (63,287) —
Investments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 12 863 — 895
Property, plant and equipment, net. . . . . . . . . . . . — 3,468 10,069 — 13,537
Intangible assets subject to amortization, net . . . . . — 6 487 — 493
Intangible assets not subject to amortization . . . . . — 5,417 18,677 — 24,094
Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 3 2,094 — 2,101
Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . 72 4 34 — 110
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . $46,044 $30,475 $41,595 $(70,225) $47,889
LIABILITIES AND SHAREHOLDERS’
EQUITY
Current liabilities:
Accounts payable . . . . . . . . . . . . . . . . . . . . . . $ 2 $ 110 $ 434 $ — $ 546
Deferred revenue and subscriber-related
liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . — 40 116 — 156
Payables to affiliated parties . . . . . . . . . . . . . . — 634 1,147 (1,572) 209
Accrued programming expense . . . . . . . . . . . . — 324 206 — 530
Other current liabilities . . . . . . . . . . . . . . . . . . 352 520 560 — 1,432
Total current liabilities . . . . . . . . . . . . . . . . . . . . 354 1,628 2,463 (1,572) 2,873
Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . 15,001 2,726 — — 17,727
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 . . . . . . . . . . . 8,149 3,799 3,780 (7,535) 8,193
Long-term payables to affiliated parties . . . . . . . . 5,150 576 8,702 (14,428) —
Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . 226 115 181 — 522
Minority interests . . . . . . . . . . . . . . . . . . . . . . . — 2,311 — (1,201) 1,110
Shareholders’ equity:
Due to (from) TWC and subsidiaries . . . . . . . . — 1,733 (209) (1,524) —
Other shareholders’ equity . . . . . . . . . . . . . . . 17,164 15,187 26,378 (41,565) 17,164
Total shareholders’ equity. . . . . . . . . . . . . . . . . . 17,164 16,920 26,169 (43,089) 17,164
Total liabilities and shareholders’ equity. . . . . . . . $46,044 $30,475 $41,595 $(70,225) $47,889
(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.
143
TIME WARNER CABLE INC.
SUPPLEMENTARY INFORMATION
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS—(Continued)