Time Warner Cable 2008 Annual Report Download - page 98

TIME WARNER CABLE INC.
CONSOLIDATED BALANCE SHEET
2008 2007
December 31,
(in millions)
ASSETS
Current assets:
Cash and equivalents . ........................................ $ 5,449 $ 232
Receivables, less allowances of $90 million and $87 million
as of December 31, 2008 and 2007, respectively ................... 692 743
Receivables from affiliated parties ............................... 161 2
Deferred income tax assets ..................................... 156 91
Prepaid expenses and other current assets .......................... 201 95
Total current assets ............................................ 6,659 1,163
Investments .................................................. 895 735
Property, plant and equipment, net ................................. 13,537 12,873
Intangible assets subject to amortization, net .......................... 493 719
Intangible assets not subject to amortization .......................... 24,094 38,925
Goodwill .................................................... 2,101 2,117
Other assets .................................................. 110 68
Total assets .................................................. $ 47,889 $ 56,600
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable ............................................ $ 546 $ 417
Deferred revenue and subscriber-related liabilities .................... 156 164
Payables to affiliated parties .................................... 209 204
Accrued programming expense .................................. 530 509
Other current liabilities ........................................ 1,432 1,237
Current liabilities of discontinued operations ........................ — 5
Total current liabilities . . ........................................ 2,873 2,536
Long-term debt ............................................... 17,727 13,577
Mandatorily redeemable preferred membership units issued by a subsidiary . . . 300 300
Deferred income tax liabilities, net ................................. 8,193 13,291
Long-term payables to affiliated parties ............................. — 36
Other liabilities ............................................... 522 430
Minority interests .............................................. 1,110 1,724
Commitments and contingencies (Note 16)
Shareholders’ equity:
Class A common stock, $0.01 par value, 902 million shares issued and
outstanding as of December 31, 2008 and 2007, respectively .......... 9 9
Class B common stock, $0.01 par value, 75 million shares issued and
outstanding as of December 31, 2008 and 2007, respectively .......... 1 1
Paid-in-capital .............................................. 19,507 19,411
Accumulated other comprehensive loss, net ......................... (467) (174)
Retained earnings (deficit) ..................................... (1,886) 5,459
Total shareholders’ equity ....................................... 17,164 24,706
Total liabilities and shareholders’ equity ............................. $ 47,889 $ 56,600
See accompanying notes.
88